Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "Nuclear Powered Naval Vessels - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Nuclear Powered Naval Vessels was estimated at US$26.5 billion in 2023, and is projected to reach US$39.7 billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the nuclear-powered naval vessels market is driven by several factors, including the increasing need for advanced military capabilities and strategic deterrence. Rising geopolitical tensions and the desire for maritime dominance have led nations to invest heavily in nuclear-powered fleets. Technological advancements in nuclear reactor design, such as improved safety features and higher efficiency, have expanded the feasibility and appeal of these vessels.
Additionally, the increasing importance of sustained naval presence in key strategic regions, such as the South China Sea and the Arctic, has spurred demand for vessels capable of long-term deployment. The modernization of naval forces and the replacement of aging fleets with more advanced nuclear-powered ships are also significant drivers. Furthermore, collaborations between military and industrial sectors have accelerated the development of next-generation nuclear propulsion technologies, enhancing the overall growth of the market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Surface Vessels segment, which is expected to reach US$23.8 Billion by 2030 with a CAGR of a 5.3%. The Submerged Vessels segment is also set to grow at 6.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $7.2 Billion in 2023, and China, forecasted to grow at an impressive 9.4% CAGR to reach $8.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ASC Pty Ltd, Babcock International Group plc, BAE Systems plc, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 86 Featured):
- ASC Pty. Ltd.
- Babcock International Group plc
- BAE Systems plc
- BWX Technologies, Inc.
- General Dynamics Corp.
- Kongsberg Gruppen ASA
- Naval Group
- Thales Group
Key Attributes
| Report Attribute | Details |
| No. of Pages | 280 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $26.5 Billion |
| Forecasted Market Value (USD) by 2030 | $39.7 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Nuclear Powered Naval Vessels - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Geopolitical Tensions Propel Growth in Nuclear-Powered Naval Vessel Investments
- Technological Advancements in Reactor Design Expand Addressable Market Opportunity
- Increasing Need for Strategic Deterrence Strengthens Business Case for Nuclear Fleets
- Improvements in Reactor Safety Features Spur Growth and Adoption
- Enhanced Reactor Efficiency Generates Demand for More Compact and Capable Vessels
- Sustained Naval Presence Requirements Accelerate Demand for Long-Term Deployment Capabilities
- Modernization of Naval Forces Drives Adoption of Advanced Nuclear-Powered Ships
- Growing Strategic Importance of the Arctic and South China Sea Throws the Spotlight on Nuclear Capabilities
- Rising Investments in Defense Budgets Sustain Growth in Nuclear Naval Capabilities
- Advances in Electronic Warfare Systems Strengthen Business Case for Nuclear Power in Naval Vessels
- Increasing Replacement of Aging Fleets with Nuclear-Powered Vessels Drives Market Growth
- Global Focus on Maritime Dominance Generates Demand for Superior Naval Technologies
- Development of Smaller, More Efficient Reactors Propels Growth in Versatile Naval Applications
- Enhanced Operational Capabilities of Nuclear Vessels Accelerate Adoption and Market Expansion
For more information about this report visit https://www.researchandmarkets.com/r/fj467b
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