Naval Military Vessels & SIS: New Market Report

MarineLink.com
Monday, October 07, 2013

New analysis from Frost & Sullivan: 'Global Military Naval Vessels and SIS Market Assessment', points to the implementation of extensive naval re-armament programmes, particularly in the Middle East, Asia-Pacific and Russia, has been a key growth factor for global military vessels and support in service (SIS) market.

The market development has also been supported by the increasing demand for second-hand naval platforms. North America will remain the largest market, while Asia-Pacific – the second biggest warship market – will grow significantly owing to the regional arms race caused by the tension among China and its neighbours and the unstable situation in the Korean Peninsula.

'Global Military Naval Vessels and SIS Market Assessment', finds that the military naval vessels market earned revenues of $32.00 billion in 2013 and estimates this to reach $39.99 billion in 2022. Revenues of the SIS market touched $15.29 billion in 2013 and are expected to rocket up to $21.24 billion in 2022. The frigate segment will generate the highest cumulative revenue, followed by the submarine (SSN) and destroyer sectors.

"With surface military vessels being vulnerable to air as well as land-based missiles, the deployment of submerged platforms such as submarines, unmanned underwater vehicles, or hybrid vessels that combine the features of both surface and submerged vessels will go up in the medium and long terms," said Frost & Sullivan Aerospace, Defence & Security Industry Analyst, Dominik Kimla.

"Original equipment manufacturers (OEMs) must tailor their naval programmes through partnerships and technology transfer packages to gain a foothold in emerging markets," suggested Kimla. "Building enhanced partnerships with local, shipyards is the best route to enter the market."

If you are interested in more information on this research, please send an e-mail to Joanna Lewandowska, Corporate Communications, at [email protected], with your full contact details.
 

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Greatship to Buy PSV

Greatship (India) Limited (GIL), a wholly owned subsidiary of The Great Eastern Shipping Company Limited, has signed a contract to buy a 2015-built 4000 dwt Platform Supply Vessel (PSV).

Port of Le Havre Calls for EOI for Storage Facility

Port of Le Havre has called Expression of Interest (EOI) for Storage facility for liquid Bulks to be set up inside the port. The Grand Port Maritime du Havre (GPMH),

Tauber Oil Opens West Calcasieu Port Operations

Tauber Oil Company of Houston has become the West Calcasieu Port’s newest tenant.    “Tauber Oil is a service-oriented wholesale energy marketing company with

Shipbuilding

‘Landmark Year’ for RS in 2014

For Russian Maritime Register of Shipping (RS), 2014 marked the 101st year of its activities. The classification society said 2014 also marked a landmark year,

CORIMA Orders a Damen ASD Tug 2810

CORIMA, part of the Italian Gesmar Group, has ordered a Damen ASD Tug 2810.   The Damen ASD Tug 2810, which has a 60 metric tons bollard pull, will be deployed in the port of Ancona.

GE Powers Diadema Cruise Ship

Fincantieri shipyard to equip in-board propulsion for Carnival and Costa vessels, GE’s Power Conversion business has helped the shipyard successfully deliver the

Navy

Greek Government to Halt Piraeus Port Sale

The new Greek government led by the left-wing Syriza party will halt the sale of a majority stake in the port of Piraeus, Greece's biggest, begun by the previous government,

Australian Tall Ship Rounds Cape Horn

The Royal Australian Navy operated Sail Training Ship Young Endeavour rounded Cape Horn on Australia Day, 36 days into a 12-month circumnavigation of the world.

Oil Tankers are Front Line of Libya's Struggles

Crew members killed in tanker attack this month; West fears worsening violence could lead to civil war. Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages,

Finance

NewLead Expands Fleet to 10 Vessels

NewLead Holdings Ltd. announced that it recently added five bitumen tanker vessels, expanding its fleet to 10 vessels in less than a year while performing on its

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

Hellman & Friedman Sells Out of GTT

Gaztransport & Technigaz S.A. (GTT) announces that H&F Luxembourg 1 S.à.r.l., an affiliate of Hellman & Friedman, has completed the sale of its remaining holding

Maritime Security

Libya Returns Fuel Tanker to Rival Government

Libya's recognized government has released a tanker forced to dock at a port under its control after originally banning it from delivering fuel to its rival administration,

Blue Sky Network Updates SkyRouter Web Portal

Blue Sky Network (BSN), a global provider of satellite tracking and fleet management solutions for land mobile, maritime and aviation assets, announced upgrades

Tanker with Kurdish Crude Leaving U.S. After 6-month Dispute

After being stuck in legal limbo for six months, a tanker loaded with 1 million barrels of Kurdish crude headed east on Tuesday to leave U.S. waters after Baghdad

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2208 sec (5 req/sec)