According to the latest report by IMARC Group, titled “Warship and Naval Vessels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global warship and naval vessels market reached a value of US$ 57.8 Billion in 2020. Looking forward, IMARC Group expects the global warship and naval vessels market to exhibit strong growth during the next five years.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Warships and naval vessels are primarily used for combat situations in the naval forces of a country. These vessels are safer, faster, and maneuverable, with more extended endurance capacity as compared to the traditional merchant ships. Warships and naval vessels are specially built for carrying weapons, ammunition, and essential supplies for the crew onboard.
A significant increase in defense spending for strengthening cross-border security and reducing terrorist attacks is currently driving the global warships and naval vessels market. Additionally, the growing prevalence of geopolitical conflicts and maritime tensions between several nations are also augmenting the product demand. Moreover, the allocation of a high defense budget, especially across the Middle East and the Asia Pacific countries, is further propelling the demand for warships and naval vessels. Moreover, several armed forces are focusing on the upgradation of their current fleet of naval ships with advanced variants. In the coming years, the rising utilization of naval vessels in humanitarian assistance and disaster relief operations is expected to further bolster the global market.
Warship and Naval Vessels Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global warship and naval vessels market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Babcock International Group
- General Dynamics
- Kawasaki Heavy Industries
- Lockheed Martin
- Mitsubishi Heavy Industries
- CSIC
- DSME
- Fincantieri
- Garden Reach Shipbuilders & Engineers
- Hyundai Heavy Industries
- Navantia
- Reliance Naval and Engineering Limited
The report has segmented the global warship and naval vessels market on the basis of type, application and region.
Breakup by Type:
- Warships
- Submarines
- Aircraft Carriers
- Rescue
- Defense
- Others
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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