The Global Naval Vessels Market Report Forecast 2021 – 2025 offers a clear understanding of the subject matter. The report has been gathered using principal and subordinate research methodologies. Both these methods are directed towards cooperating accurate and meticulous data concerning the market dynamics, historical events, and the current market landscape. Additionally, the report also includes a SWOT analysis that concludes the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report also takes into account the impact of the COVID-19 and also forecasts its recovery post-COVID-19.
The naval vessels market is anticipated to register a CAGR of over 4% during the forecast period.
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Top Key Players in the Global Naval Vessels Market: General Dynamics Corporation, ThyssenKrupp AG, BAE Systems PLC, The Naval Group, and Abu Dhabi Ship Building Co.
in February 2020, the US Navy announced plans regarding the development of a next-generation large surface combatant that incorporates platform flexibility and growth capabilities to meet projected future fleet system requirements. The US Navy is going to spend USD 145 million on this contract. Such contracts will provide opportunities for players to strengthen their presence in the market. Players are also partnering to develop advanced naval vessels. For instance, Germanys new F125 Baden-Wrttemberg-class series of frigates are designed and constructed by a joint-venture of ThyssenKrupp AG and Lrssen Werft GmbH & Co. KG. Such partnerships are expected to help the growth of the players during the forecast period.
Key Market Trends
The Destroyers Segment Had the Largest Share in the Market in 2019
Currently, destroyers have the highest share of all the segments. The advantages the destroyers offer, like being fast, maneuverable, and providing long-endurance, help them effectively escort larger vessels in a fleet, convoy, or battle group, and defend them against smaller powerful short-range attackers. Currently, the demand for destroyers is higher than the other naval vessels, as various nations are looking to acquire new destroyer ships. In 2018, the US Navy announced that it had taken delivery of the Zumwalt-class destroyer Michael Monsoor from Bath Iron Works. Also, in December 2019, China added up 18 destroyer ships to its Type 052D Destroyer class fleet. In addition, several countries are also planning to procure destroyers to replace its aging naval fleet. The UK Navy is planning to replace its Type 45 destroyers with a version of the new Type 26 frigate. The frigate is expected to enter the service with the UK fleet by the end of the forecast period. The new frigates are also expected to ultimately replace the air-defense-optimized Type 45s probably in the next ten years. Thus, the ongoing procurement plans are expected to increase the revenues for the segment, during the forecast period. However, as several countries are now emphasizing on procuring a larger fleet of smaller ships for their navies, the focus on the destroyers may reduce, which may slightly hamper the growth of the segment in the years to come.
The report offers an in-depth assessment of the growth and other aspects of the Naval Vessels market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Size Estimation:
The Total Addressable Market (TAM) for estimating the market size two approaches are used: Bottom-up and Top-down approach. In the Bottom-up approach, the consumption of in the various segments is taken into account. The regional, segment-wise, and end-user uptake/consumption is taken into account for this approach. This is then totaled to arrive at the TAM for this approach. In the Top-down approach, the company-wise production in terms of both value and volume is taken into account and totaled for arriving at the TAM. This data is then bifurcated based on the consumption in the various market segments.
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This Naval Vessels Market report addresses:
– The Market size from 2015-2020
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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– The market estimate (ME) sheet in Excel format
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Covid-19 Impact Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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