Naval
vessel is a military ship which is damage resilient and armed with
weapon systems. The naval vessels play an important role in offshore
patrolling. The next generation naval vessels are equipped with
advanced systems. The market is expected to grow significantly during
the forecast period.
There
are various factors associated with the demand of next generationnaval vessel technology. These naval vessels are primarily used for
maritime security. Furthermore, the vessels can also be used for anti
air warfare during a sudden air strike. Moreover, the vessels also
find application during anti surface warfare. In addition, the naval
vessels are also effective for use against submarines and mine
warfare. Another issue which is spurring the demand for next
generation naval vessels is the growing concern for security over
asymmetric counter insurgency warfare in countries such as Iraq and
Afghanistan. Moreover, the ongoing disturbances due to terrorist
activities in Middle East region are another reason aiding to the
demand for strong naval security. In addition, with the U.S.
upgrading their defense capabilities, China is also focusing on
strengthening their navy by deploying next generation naval vessels.
Furthermore, the growing concern of maritime piracy of high value
assets such as cargo ships, container fleets and oil and gas tankers
in regions such as Somalia is another reason which has resulted into
the need for superior maritime security. These factors are expected
to drive the demand for next generation naval vessels during the
forecast period.
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However,
there is one factor restraining the demand for these naval vessels.
The cost of acquiring next generation naval vessels is significantly
high. In addition, the naval vessels require regular maintenance. The
developing economies in regions such as Africa, Asia and Latin
America do not have the capital to acquire these vessels. Hence, the
cost of the vessels is a major factor restraining the growth in the
market. Nevertheless, the ongoing technological innovation is
expected to reduce the price of the components in the coming years
which are expected to reduce the price of these naval vessels
significantly.
The
global next generation naval vessels market can be segmented by types
and geography. By types, the market can be bifurcated into aircraft
carriers, surface combatant, patrol combatant, amphibious warfare,
mine warfare combat logistics carrier and coastal defense among
others. Based on the increasing need for maritime security, the
aircraft carriers, patrol combatants and coastal defense naval
vessels are expected to witness strong growth during the forecast
period.
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TOC @
By
geography the global next generation naval vessel market can be
segregated into five strategic regions which include North America,
Europe, Asia Pacific, Middle East and Africa and Latin America. The
growing concern for security from terrorist activities is expected to
drive the growth in North America. In addition, the region is
primarily driven due to the presence of the U.S. which does
significant investment to keep their defense upgraded. Europe has
been analyzed to witness steady growth during the forecast period due
to the ongoing demand for naval vessels in Germany, France and the
U.K. primarily. The growth in Asia Pacific region is expected to be
promising due to the presence of developing nations such as India and
China which are investing heavily in order to strengthen their
defense sector. The Middle East and Africa region is also expected to
grow robustly due to the constant communal disturbance and ongoing
terrorist activities in countries such as Iraq and Syria. Latin
America on the other hand is expected to have a weak growth due to
the weak economy which does not permit enough defense budgets to the
countries.
The
major players in the next generation naval vessel technology include
Aeromaritime Systembau GmbH, Atein Naval, DAMEN Schelde Naval
Shipbuilding and Austal USA among other emerging players in the
market.
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