The Global Naval Vessel Engines Market 2017-2027
Naval warfare has witnessed a paradigm shift globally, with an increasing trend towards the decentralization of naval attacks, whereby capabilities are distributed around smaller vessels in addition to larger platforms such as aircraft carriers and destroyers in order to make them more secure against an enemy attack. This has motivated governments around the world to spend on smaller surface combatants capable of operating in littoral waters, along with advanced weapons and communication systems to enable these ships to perform multiple missions.
Demand for naval vessel engines will be driven by high expenditure by emerging economies in Asia-Pacific, namely India and China in the procurement of naval vessels. The North American region is expected to maintain strong growth over the forecast period. Global naval vessel engines market is expected to grow at a CAGR of 4.42% to reach a total of US$708 Million by 2027. Cumulatively, the market is anticipated to value US$6.4 Billion over the forecast period.
Naval vessel engines market is split into three segments: gas turbines, nuclear reactors, and diesel engines. During the forecast period, gas turbines are expected to account for the largest share of spending, accounting for 48.8% of the overall global market. Spending in this segment will be largely driven by procurement programs in the Asia-Pacific region, followed by investments in North America, Europe, and the Middle East.
Naval vessel engines market will be led by Asia-Pacific with a share of 44.8% over the forecast period, followed by North America with a share of 32.4% and Europe with 17.9%. The Middle Eastern market is expected to account for 2.2% of the global naval vessel engines market, followed by the Latin American and African markets with shares of 2.0% and 0.7%, respectively.
China is the largest spender in the Asia-Pacific market for naval vessel engines. Overall, Asia-Pacific will spend US$2.9 Billion on programs related to the market during the forecast period. North America represents the second-largest market, with its total budget for naval vessel engines valued at US$2.1 Billion over the forecast period.
The report “The Global Naval Vessel Engines Market 2017-2027” offers detailed analysis of the Global Naval Vessel Engines Market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for naval vessel engines.
In particular, it provides an in-depth analysis of the following -
- Overview: Snapshot of the naval vessel engines market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments of the naval vessel engines market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by industry participants.
- Segment Analysis: Insights into the naval vessel engines market from a segmental perspective and a detailed analysis of the factors to influence the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within the regions.
- Regional Analysis: Insights into the naval vessel engines market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the naval vessel engines segment that is expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment that are expected to be executed during the forecast period.
- Competitive landscape analysis: Analysis of the competitive landscape of the global naval vessel engines industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives, and a brief financial analysis.
Companies mentioned in this report: Zorya-Mashproekt, Rolls-Royce, General Electric, MAN Diesel & Turbo, Wärtsilä, MTU Friedrichshafen GmbH, Caterpillar, Bechtel Corporation, Detroit Diesel, Shaanxi Diesel Engine Factory, Kirloskar Oil Engines Limited.
- Global Naval Vessel Engines Market is projected to register a CAGR of 4.42% over 2017-2027
- In terms of categories, the Gas turbines segment is anticipated to account for the largest share of expenditure globally, with a market share of 48.8% followed by the nuclear reactors and diesel engines, with shares of 27.1% and 24.1%, respectively
- Asia-Pacific is analyzed to dominate the global naval vessel engines market with a share of 44.8%, followed by North America and Europe, with shares of 32.4% and 17.9%, respectively
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global naval vessel engines market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different naval vessel engines 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 vessel engines 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 vessel engines market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top naval vessels providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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