The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Global Naval Vessels and Surface Combatants Market 2020-2030 report provides the market size forecast and the projected Compound Annual Growth Rate (CAGR) for the next ten years. The report covers the industry analysis including the key market drivers, emerging technology trends, 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.
The demand for naval vessels and surface combatants will be driven by the maritime threats including territorial disputes, smuggling, piracy, terrorism etc., that has driven countries to invest significantly on the naval platforms. Navies across the globe are expanding their fleet by adding new naval vessels, primarily to maintain/gain an asymmetric advantage over their opponents and to protect their territorial waters against any intrusion. Disputes over offshore territories and maritime boundaries, abetted by the need to exploit offshore resources, including unexplored oil and gas reserves and fertile fishing zones, are expected to be a major driver for the strengthening of naval capabilities for many nations. 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 frigates segment is expected to be the largest segment and accounts for 29% of the global naval vessels and surface combatants market over the forecast period. The increasing demand for multirole vessels that are capable of carrying out military operations other than war (MOOTW), which includes humanitarian relief in the aftermath of natural disasters, emergency medical care, combating smuggling, piracy, terrorism, and environmental protection, among others expected to drive the segment’s growth over the forecast period. According to Chandan N, Defense Analyst at GlobalData: "Global naval warfare has witnessed a paradigm shift over the last decade. Navies worldwide are increasingly focusing on the procurement of smaller vessels with enhanced weapon systems and sensor suites to reduce acquisition and operational expenses is expected to have a significant impact on the naval vessels and surface combatants market growth over the next decade."
North America region is expected to dominate the global naval vessels and surface combatants market from 2020 to 2030. 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 FFG(X) program to develop and deploy 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.
- The global naval vessels and surface combatants market is expected to grow at a CAGR of 2.70% over the forecast period.
- The global naval vessels and surface combatants market is classified into seven categories: Frigates, Destroyers, Amphibious Ships, Light Combat Vessels, Corvettes, Aircraft Carriers and Auxiliary Vessels.
- North America is expected to dominate the global naval vessels and surface combatants market over the forecast period with a market share of 40.3%, followed by Asia Pacific and European regions.
- Frigates 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 2020-2030, 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 2020-2030.
- 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.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global naval vessels and surface combatants 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 in-depth analysis of the competitive landscape consisting of detailed profiles of the top naval vessels and surface combatants solution providers around the world. The company profiles also includes information about the key products, alliances, recent contract awarded, and financial analysis, wherever available