The research study covers the present scenario and growth prospects of the global aircraft carriers market for 2016-2020. The market research also presents the market landscape and a corresponding detailed analysis of the five major vendors operating in the market.
The global aircraft carriers market is divided into two segments by application. They are:
|The aircraft carriers gained importance after the Cold War, which ended in the early 1990s. As a result, major defense spending countries like the US, Russia, China, South Korea, India, Japan, and the UK have made enormous investments in the development and procurement of such vessels. Furthermore, the increasing territorial disputes between China and Vietnam, North Korea and South Korea, and the internal conflicts in Syria are expected to result in increased procurement and development of such vessels, which will strengthen their maritime capabilities during the forecast period.|
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Technavio aerospace and defense analysts highlight the following three factors that are contributing to the growth of the global aircraft carriers market:
- Greater dominance over sea
- Increased focus on maritime security
- Use of nuclear energy
Greater dominance over sea
Numerous countries are upgrading their maritime defense units by developing and acquiring several warships including aircraft carriers. The growing number of such assets will also encourage the development of naval combat systems, which in turn will allow defense authorities to have greater dominance over seas and oceans.
“The US Navy has played an integral part in the national strategy of the country that is surrounded by seas on two ends. Of late, the focus is toward the rapid deployment of forces to engage in asymmetrical conflicts, where the combatant forces can attain operational efficiency by employing good synergy between their components,” says Moutushi Saha, a lead defense analyst from Technavio.
Increased focus on maritime security
Due to the numerous terrorist attacks through sea routes and increased illegal dealings in mid-oceans, it has become increasingly important for countries to establish an enhanced deterrent that can combat maritime threats. Therefore, many countries are strengthening their maritime security capabilities to prevent any enemy or illegal intrusion. Also, major defense contractors are also modernizing the existing aircraft carriers to fulfill global defense and security needs.
“Owing to the growing disputes in the South China Sea, in mid-2016, the US Navy deployed two of its aircraft carriers, the USS John C. Stennis and the USS Ronald Reagan, in the region,” adds Moutushi.
Use of nuclear energy
Though some developed countries have planned to do away completely with nuclear reactors across the globe, global nuclear power generation is expected to rise significantly during the forecast period. In countries where renewable sources of energy are not feasible to produce enough electricity, and fossil fuel prices prove to be a hindrance, nuclear power becomes an attractive option.
Over 60 power reactors are being developed in 13 countries like China, India, Russia, South Korea, Taiwan, and the UAE, which will propel the nuclear energy market during the forecast period. The performance advantages of nuclear-powered aircraft carriers over the traditional aircraft carriers are substantial. As a result, nuclear energy has become an efficient source of energy to power the next-generation of aircraft carriers.
- BAE Systems
- Huntington Ingalls Industries
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