Global Warship and Naval Vessels Market 2015-2019
About naval vessels
On the basis of vessel type, naval vessels can be categorized into high-end war-fighting vessels installed with expensive weapons systems, submarines, and basic patrol vessels for low-intensity missions equipped with essential equipment, sensors, and weapons. Naval vessels are selected based on the requirement of a country, geographical location, and specific purpose of the application.
Technavio's analysts forecast the global warship and naval vessels market to grow at a CAGR of 1.7% over the period 2014-2019.
Covered in this report
In this report, Technavio covers the present scenario and growth prospects of the global warship and naval vessels market for 2015-2019. The report provides a global overview of the market and the growth prospects by region (Americas, APAC, and EMEA). It also presents the market landscape and a corresponding analysis of the prominent vendors in the market. In addition, it discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, as well as the key trends emerging in the market.
Technavio's report, Global Warship and Naval Vessels Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and EMEA; and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Warship and Naval Vessels Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Warship and Naval Vessels Market: Babcock International Group, General Dynamics, Kawasaki Heavy Industries, Lockheed Martin and Mitsubishi Heavy Industries
Other Prominent Vendors in the market are: CSIC, DSME, Fincantieri, GRSE, Hyundai Heavy Industries, Navantia and Pipavav Defense and Offshore Engineering
Commenting on the report, an analyst from Technavio’s team said: “To overcome certain design drawbacks and improve naval vessels performance, new and optimized design configurations providing enhanced capability and operability of naval vessels are expected to be prevalent in the market. The prevalence of the trimaran configuration in naval vessel designs is one such trend.”
According to the report, increased demand for naval vessels from emerging markets in Asia, South America, and Africa will contribute the market growth. The existence of a fleet of naval vessels increases the need to upgrade the systems to remain compatible with evolving technology and contribute to the demand for multipurpose applications.
Further, the report states that the economic slowdown in Europe and defense budget cuts in countries such as the US hinders market growth. Furthermore, ease of maintenance is the key to long-term operation and applicability of the naval vessels. However, limited availability of spare parts and maintenance facilities in emerging countries further hampers the market growth.
Babcock International Group, General Dynamics, Kawasaki Heavy Industries, Lockheed Martin, Mitsubishi Heavy Industries, CSIC, DSME, Fincantieri, GRSE, Hyundai Heavy Industries, Navantia and Pipavav Defense, Offshore Engineering
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