- What you need to know...
- The US is poised to maintain its position as the largest manufacturer of naval vessels and associated technology, engines, armaments used in vessels as well as spare parts in the world.
- The global market for naval vessels and surface combatants and related MRO is expected to reach US$69.9 billion by 2028, representing a CAGR of 3.29% during the forecast period (2018-2028).
- The market is expected to be dominated by corvette segment, which is anticipated to account for 29.7% of the market.
- The changing nature of maritime warfare, which has prompted governments around the world to spend on smaller surface combatants capable of operating in littoral waters, is also expected to act as a catalyst to drive the corvettes market.
- Rolls-Royce are offering naval shipbuilding, repair and upgrade activities in the Gulf region.
The demand for corvettes is expected to increase as a number of navies prefer smaller ships in light of budget cuts and cost savings.
GlobalData’s Global Naval Vessels and Surface Combatants and related MRO Market 2018-2028 report offers detailed analysis of the naval vessels and surface combatants and related MRO market over the next ten years, and provides market size forecasts. It covers key technological developments and market trends in the industry, and analyzes factors influencing demand for various naval vessels and surface combatants. Additionally, the report also highlights challenges faced by industry participants.