Surface Combatant Market- Is Projected to Expand at a Steady CAGR over the Forecast by 2027 | Key Player - Abu Dhabi Ship Building, ASC PTY LTD, Austal Limited, BAE Systems, Damen Shipyards Group

Surface Combatant Market Outlook – 2027

The surface combatant, also known as surface ship or surface vessel, is a subset of naval warships that is designed for warfare on the surface of the water, with weapons and armed forces. They are generally ships built to fight other ships, submarines, aircraft or land targets, and can carry out several other missions, including counter-narcotics operations and maritime interdiction. Their primary purpose is to engage space, air, surface, and submerged targets with weapons deployed from the ship itself, rather than by manned carried craft. Moreover, the surface combatants are technologically advanced warships used for sea-based battlefield operations. Naval warships are equipped with their weapon launch systems such as anti-submarine rocket launchers, torpedo launching systems, rocket launchers, and vertical missile launchers. The incorporation of information, communication, and technology (ICT) in the naval ship is expected to boost the growth of the surface combatant market during the forecast period.

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COVID-19 scenario analysis:

• The global market for surface combatant is severely impacted by the outbreak of the COVID-19 pandemic.
• The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
• Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
• Thus, insufficiency in raw material supply is expected to hamper the production rate of aircraft doors, which negatively impact the market growth.
• However, government around the world have allowed only few essential industries to operate until situation becomes favourable for resuming other business activities.
• This situation is further expected to improve as government has started relaxing norms around the world for resuming business activities.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Some of the factors that boost the growth of the global market include the use of robotics and technological advancements in naval vessels and surface combatant’s shipbuilding facilities and increase in adoption of LNG fuelled engines in the naval vessels and surface combatants. However, high development cost of naval vessels and surface combatants and prevalent practices, industry consolidation, and procurement patterns within the market are creating obstacles, thus hampering the market growth. Conversely, new products, processes, and innovations recently inducted within the sector are expected to offer lucrative opportunities for the market during the forecast period.

Use of robotics and technological advancements naval vessels and surface combatants shipbuilding facilities

New technologies in naval vessels and surface combatants provide safe and efficient maritime operations. Shipbuilding robotics is used to carry out welding, heavy lifting, blasting, painting, and other tasks in the shipyards. Many companies are launching such products, which are currently in the production processes are carried out by using robotic systems. In addition, these robotics systems are increasing the production rate of the shipbuilding industry. Moreover, these companies which have developed mini welding robots are set to adopt robotics technology in shipbuilding. Furthermore, increase indemand for robotics technology in shipbuilding is fueling naval vessels and surface combatants market growth.

Increase in adoption of LNG fueled engines in the naval vessels and surface combatants

The liquefied Natural Gas (LNG) is an alternate fuel for naval vessels and surface combatants. In the LNG engines, CO2 emission is reduced by 20% as compared to conventional diesel engines. Nitrogen oxide emission (NOX) emissions are cut by almost 90%, while sulfur oxide (SOX) emissions are eliminated. Furthermore, the new generation of naval vessel engines is strongly required to comply with the TIER 3 restrictions in many economies by the International Maritime Organization (IMO). Therefore, increase inadoption of LNG fueled engines will propel the growth of the market in the forecast period.

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Key benefits of the report:

• This study presents the analytical depiction of the surface combatant market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the surface combatant market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the surface combatant market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed surface combatant market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the surface combatant market research report:
• Which are the leading players active in the surface combatant market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

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