Naval Combat Vessels Market Research Report – Forecast to 2023
Naval Combat Vessels Market Research Report – Forecast to 2023
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Copyright © 2017 Market Research Future.
Naval Combat Vessels Market Research Report – Forecast to 2023
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Copyright © 2017 Market Research Future.
Naval Combat Vessels Market Research Report – Forecast to 2023
The Global Naval Combat Vessels is estimated to witness a CAGR of 4% from 2018 to 2023.
Combat vessels are an important part of warfare ships that are built for battle on the water surface and are designed for applications such as war fight with submarines or aircraft and can execute other missions related to counter-narcotics operations and maritime interdiction operations (MIO). The increased need for modernization of naval combat systems has led to the increasing demand for the development of naval combat vessels. The increased focus on technology advancement of Unmanned Underwater Vehicles (UUVs) will enable manufacturers to offer new growth opportunities to the market players. For instance, Lockheed Martin signed a contract with U.S. Navy to design the largest unmanned underwater drone, the Orca. However, there are some shortcomings, such as difficulty in integration, which will restrain the growth of this market. The market for naval combat vessels is estimated to witness a CAGR of 4% during the forecast period. On the basis of region, the market is segmented into North America, Asia Pacific, Europe, the Middle East, and Latin America. In North America, increasing incorporation of advanced combat systems into the naval vessels will boost the market. In 2017, Lockheed Martin signed a contract with the U.S. Navy to design the largest unmanned underwater drone, the Orca. In 2018, BAE Systems signed a contract with the U.S. Navy to modernize the guided-missile destroyer, USS Howard. In 2015, Israel Military Industries signed a contract with Germany for 4 TKMS MEKO Patrol Vessels. The surging popularity of advanced integrated combat systems could offer a host of opportunities for the market to grow in the years ahead. The market players are sensing opportunities in the form of rising need for modernization of naval combat systems. Plus, massive investments in submarines and surging number of unmanned underwater vehicle benefits the market to a great extent.
The primary markets for naval combat vessels are Middle East and Africa, Asia Pacific, Europe, North America, and Latin America. North America is touted to be the leading market in the ensuing years owing to the rising integration of advanced combat systems into naval vessels. Also, the demand for naval vessels as well as surface combatants is expected to be supported by high levels of expenditure in the region.
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Naval Combat Vessels Market Research Report – Forecast to 2023
Asia Pacific is expected to be the second-largest market for naval combat vessel. The surging growing need for warfare ships and frigates, especially in the United States (U.S.) could trigger market demand in the region. Case in point, Lockheed Martin had entered a contract with the U.S Naval Sea Systems for developing and integrating the Aegis Baseline 9 systems in Japan Maritime Self Defense Force destroyers. In Europe, rising need for emergency medical care, combating smuggling, piracy, terrorism and humanitarian relief has led to a substantial rise in demand for naval combat vessels. This trend has prompted manufacturers in the region to create more vessels that have strategic sea-lift as well as amphibious operations capabilities, which enables several vessels to serve more than one role. These factors are bound to lead the regional market to greater heights in the upcoming years.
By Vessel Type •
Submarine
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Frigates
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Corvettes
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Destroyers
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Others
By Mode of Propulsion •
Nuclear Powered
•
Conventional Powered
By Region •
North America
•
Europe
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Asia Pacific
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Middle East & Africa
•
Latin America
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Naval Combat Vessels Market Research Report – Forecast to 2023
This study provides an overview of the Global Naval Combat Vessels, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC), Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Naval Combat Vessels by its vessel type, mode of propulsion, and region.
The key players in global naval combat vessels are Israel Military Industries (Israel), BAE Systems (U.K), Lockheed Martin Corporation (U.S.), Raytheon (U.S.), General Dynamics Corporation (U.S.), SaaB AB (Sweden), Huntington Ingalls Industries, Inc. (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Kawasaki Shipbuilding Corporation (Japan), and Kockums AB (Sweden).
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Naval Combat Vessels Market Research Report – Forecast to 2023
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