DUBLIN--(BUSINESS WIRE)--The "Global Naval Vessels & Surface Combatants Market Analysis & Forecast 2019-2029" report has been added to ResearchAndMarkets.com's offering.
This report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for naval vessels, key market trends, and challenges faced by industry participants.
In-depth analysis provides:
- Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of naval vessels and surface combatants segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives and financial analysis
Companies mentioned: General Dynamics, Huntington Ingalls Industries, Austal, Naval Group, Larsen & Toubro Limited (L&T), Lockheed Martin, Fincantieri, BAE Systems, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering Co, and Abu Dhabi Shipbuilding.
The global naval vessels and surface combatants market is valued at US$36.7 billion in 2019, and will grow at a CAGR of 1.97%, to reach a value of US$44.6 billion by 2029. The cumulative market for global naval vessels and surface combatants is anticipated to value US$429.8 billion over the forecast period.
- The global naval vessels and surface combatants market is expected to grow at a CAGR of 1.97% over the forecast period.
- The market consists of seven categories: frigates, destroyers, amphibious ships, light combat vessels, corvettes, aircraft carriers, and auxiliary vessels.
- North America will dominate the sector with a share of 26%, followed by Asia-Pacific and Europe. The frigates segment is expected to be the leading segment during the forecast period.
The demand for naval vessels is anticipated to be driven by high levels of expenditure by emerging economies in the Asia-Pacific region including India and China. The North American region supported by US Navy's multi-year procurement programs, is expected to maintain its leading position globally, exhibiting a steady pace of growth over the forecast period.
The global naval vessels and surface combatants market is expected to be led by North America with revenue share of 41.9%. Cumulatively, North America is projected to spend US$180.3 billion on naval vessels and surface combatants over the forecast period. In 2019, regional expenditure is expected to value US$15.1 billion and increase to US$19 billion by 2029, growing at a CAGR of 2.32%. Asia-Pacific will follow North America and is expected to account for 26.2% revenue share of the global naval vessels and surface combatants market over the forecast period.
Europe is anticipated to be the third-largest market globally with a revenue share of 22.2% over the forecast period, driven by the naval expansion and capability enhancement initiatives undertaken by various countries in the region. With a share of 5.5%, the market for naval vessels and surface combatants in the Middle East is projected to be the fourth largest globally.
Frigates is expected to be the largest segment in the naval vessels and surface combatants market during the forecast period. Driven by several high-value procurement programs worldwide including the US Navy's FFG(X) program, Canadian Navy's Canadian Surface Combatant' program, Saudi Navy's Multi-Mission Surface Combatant program, Australian Navy's SEA 5000 (Hunter-class) program and French Navy's Intermediate Frigate (FTI) program among others; the Frigates segment is expected to account for a 28.7% revenue share of the total market over the forecast period.
Destroyers segment will follow Frigates segment with 19.6% market share. With 15.1% share, Amphibious Ships segment is anticipated to hold the third position in the global market. The growing demand for Amphibious Ships is primarily attributed to the ongoing initiatives of naval forces to develop relevant sealift capabilities. Light Combat Vessels and Corvettes segments to account for respective shares of 11.8% and 9.3%. Aircraft Carriers will account for a decent share of 8.6% over the next decade. The remaining share of 6.9% will be held by Auxiliary Vessels segment.
Reasons to Buy
- Determine prospective investment areas based on a detailed trend analysis of the global naval vessels and surface combatants market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different naval vessels and surface combatants segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global naval vessels and surface combatants market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global naval vessels and surface combatants market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top naval vessels and surface combatants providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
For more information about this report visit https://www.researchandmarkets.com/r/ctvzgw