Press release
The Global Naval Vessels, Surface Combatants And Related MRO Market Size to reach US$50.3 billion by 2026
Key Findings
The global naval vessels, surface combatants, and related MRO market, valued at US$36.3 billion in 2016, is projected to grow at a CAGR of 3.31% over the forecast period period, to reach US$50.3 billion by 2026 and cumulatively value US$477.5 billion. The market consists of five categories: corvettes, frigates, destroyers, amphibious ships, and aircraft carriers. During 2016-2026, the market is expected to be dominated by corvettes, which will account for 26.7% of the market, followed by destroyers, frigates, amphibious ships, and aircraft carriers with shares of 23.3%, 20.1%, 15.5%, and 14.4% respectively. North America is forecast to dominate the global market with a share of 33.8%, followed by Asia Pacific and Europe, with shares of 33.0% and 20.4% respectively.
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Synopsis
Safeguarding maritime trade from piracy, illegal infiltration, smuggling, terrorism, and arms races among rising powers in several regions are expected to drive expenditure in the naval vessels, surface combatants, and related MRO market over the forecast period. The demand for naval vessel MRO services is expected to be driven by aging naval vessels globally, technological innovations in the industry, internal and external security threats, territorial disputes, and modernization initiatives undertaken by navies across the world.
Reasons To Buy
Determine prospective investment areas based on a detailed trend analysis of the global undersea warfare systems market over the next ten years
Gain in-depth understanding about the underlying factors driving demand for different undersea warfare systems 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 undersea warfare systems 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 undersea warfare systems market
Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top undersea warfare systems providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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