DUBLIN--(BUSINESS WIRE)--The "Global Naval Combat Systems Market - Trends, Analysis and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The naval combat systems market is expected to record a CAGR of 4.03%, during the forecast period.
North American region, which is the manufacturing hub and the largest market for naval combat systems equipment, expected to show a steady growth rate in the forecast period. The demand in the US will be mostly replacement demand, as the equipment becomes obsolete. The growth rate in the North American region is anticipated to see from Mexico, as it will actively seek to acquire such systems going into the future.
One of the major drivers for this market is the currently ongoing submarine upgrade programs. Submarines are an integral part of a nation's naval fleet, and hence, it is essential to keep them upgraded and maintained. Many upgrading programs are going on across the world for improving the submarines.
The Pipavav Defence and Offshore Engineering signed an agreement with Russia-based JSC Ship Repairing Centre Zvyozdochka for medium refits, upgrade and life certification of eight EKM 877 submarines in India. This also marked the first time the work for the refit of submarines was being considered for the private sector in India. A refit in India has several advantages, the most essential being savings on transportation costs to Russia and back, and the enhanced operational availability of the submarines for thousands of additional hours by avoiding the downtime in transporting them to Russian and back.
- BAE Systems
- IMI Systems S.A. Group
- Raytheon Company
- Lockheed Martin Corporation
- Thales Group
- Airbus SE
- Elbit Systems
- Ferranti Technologies
Key Topics Covered:
2. Research Methodology
3. Market Insights
4. Market Dynamics
5. Naval Combat Systems Market, by Type
6. Naval Combat Systems Market, by Geography
7. Competitive Landscape
8. Company Profiles
9. Future Outlook of the market
For more information about this report visit https://www.researchandmarkets.com/research/96vbs4/global_naval?w=4