DUBLIN--(BUSINESS WIRE)--The "The Global Naval Vessels and Surface Combatants Market 2017-2027" report has been added to Research and Markets' offering.
Global naval vessels and surface combatants market is valued at US$36.4 Billion in 2017, and will grow at a CAGR of 2.97%, to a value of US$48.8 Billion by 2027.
The cumulative market for global naval vessels and surface combatants is anticipated to value US$446.7 Billion over the forecast period. The demand for naval vessels and surface combatants is anticipated to be driven by high levels of expenditure by emerging economies in the Asia Pacific region, such as India and China. The North American region is expected to maintain its leading position, exhibiting a steady pace of growth over the forecast period.
In terms of segments, the naval vessels and surface combatants market is split into five segments: aircraft carriers, amphibious ships, corvettes, destroyers, and frigates. During the forecast period, corvettes are expected to account for the largest share of spending, accounting for 25.7% of the overall global market. Spending in this segment will be largely driven by procurement programs in the North American region, followed by investments in Asia Pacific, Europe, and the Middle East.
Naval vessels and surface combatants market is expected to be led by North America with a share of 39.5% over the forecast period, followed by Asia Pacific with a share of 27.7% and Europe with 23.2%. The Middle Eastern market for naval vessels and surface combatants is projected to account for 5.0% of the global naval vessels and surface combatants market, followed by the Latin American and African markets with shares of 3.1% and 1.5% respectively.
Global naval vessels and surface combatants market is dominated by North America, and the US is the largest spender in the sector. Overall, North America will spend US$176.5 Billion on naval vessels and surface combatants programs during the forecast period. Asia Pacific represents the second-largest market, with total naval vessels and surface combatants spending valued at US$123.5 Billion over the forecast period.
- Daewoo Shipbuilding & Marine Engineering
- Huntington Ingalls Industries
- BAE Systems
- Hyundai Heavy Industries
- PO Sevmash
- ThyssenKrupp Marine Systems AG
- Lockheed Martin Corporation
- ASC Pty Ltd.
- Damen Schelde Naval Shipbuilding (DSNS)
- Abu Dhabi Shipbuilding
- General Dynamics
- Mazagon Docks Limited.
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