Dublin, May 09, 2022 (GLOBE NEWSWIRE) -- The "Naval Vessels and Surface Combatants Market Size and Trend Analysis including Segments, Key Programs, Competitive Landscape and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The report provides the market size forecast and the estimated CAGR for the next ten years. The report covers industry analysis including the key market drivers, trends, emerging technologies, and major challenges faced by industry participants. It also offers insights regarding key factors and government programs that are expected to influence the demand for naval vessels and surface combatants market over the forecast period.
Territorial disputes and emerging maritime threats such as smuggling, piracy, and terrorism are expected to drive the procurement of naval platforms. Countries such as Russia, China, India, the UK, France and Canada consist of fleets which are rapidly aging and require replacements. Hence, to enhance the naval capabilities to counter asymmetric threats, these countries have initiated naval modernization programs to replace the outdated vessels that are in active service. In addition, the need for new naval vessels is further substantiated due to the ongoing counter-piracy efforts in highly affected maritime shipping routes in regions such as the Malacca Straits and Gulf of Aden. As such, the procurement of new naval vessels will continue to grow across the globe over the forecast period.
The frigate segment is expected to be the largest segment and accounts for 29.9% of the global naval vessels and surface combatants market over the forecast period. The increasing demand for multirole vessels with multispectral capabilities, including air defense, anti-surface warfare, and anti-submarine warfare is expected to drive the segment's growth over the forecast period.
North America region is expected to dominate the global naval vessels and surface combatants market from 2022 to 2032. The US's dominance in the naval vessels market is influenced by the country's affinity for advanced military platforms in order to maintain an edge over its adversaries. The country is presently undertaking multiple high-value programs to procure new-generation naval vessels. For instance, the multi-billion dollar Constellation-class frigate FFG(X) program to induct 20 guided-missile frigates will significantly increase the country's share of the global naval vessels and surface combatants market over the next decade. Similarly, Canada is also procuring various classes of naval vessels equipped with advanced sub-systems to improve its naval capabilities.
Key Highlights
- The global naval vessels and surface combatants market is expected to grow at a CAGR of 3.23% over the forecast period
- The global naval vessels and surface combatants market is classified into seven categories: Frigate, Destroyer, Amphibious Ship, Light Combat Vessel, Corvette, Aircraft Carrier and Auxiliary Vessel
- North America is expected to dominate the global naval vessels and surface combatants market over the forecast period with a market share of 35.6%, followed by Asia Pacific and European regions
- Frigate is expected to be the largest segment among other naval vessel categories over the forecast period
In particular, the report provides an in-depth analysis of the following -
- Market size and drivers: Detailed analysis during 2022-2032, 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 existing naval vessels and surface combatants projects being executed and planned worldwide. 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 2022-2032
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global naval vessels and surface combatants market. It provides an overview of key players, their strategic initiatives, and financial analysis
Key Topics Covered:
- Global Naval Vessels and Surface Combatants Market: Overview
- Market Dynamics
- Technological Developments
- Key Challenges
- Global Naval Vessels and Surface Combatants Market: Segment Analysis
- Segment Analysis: Frigate
- Segment Analysis: Destroyer
- Segment Analysis: Light Combat Vessel
- Segment Analysis: Auxiliary Vessel
- Segment Analysis: Amphibious Ship
- Segment Analysis: Corvette
- Segment Analysis: Aircraft Carrier
- Global Naval Vessels and Surface Combatants Market Regional Analysis
- Competitive Landscape and Key Programs
- Leading Market Players
- Key Programs
Companies Mentioned
- Huntington Ingalls Industries
- General Dynamics Corp
- Damen Shipyards Group
- Naval Group
- United Shipbuilding Corporation
- BAE Systems Plc
- China State Shipbuilding Corporation
- Eastern Shipbuilding Group
- Cochin Shipyard Ltd
- Navantia SA
- Fincantieri SpA
- Daewoo Shipbuilding and Marine Engineering Co Ltd
- Mitsubishi Heavy Industries Ltd
For more information about this report visit https://www.researchandmarkets.com/r/9ta4s5
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