London, 27 October 2015: Technavio, the independent tech-focused global research firm, has published a report on the global warship & naval vessels market 2015-2019, which is expected to grow at a CAGR of 1.7% during the forecast period of 2014-2019.
The command, control, communications, computers, and intelligence (C4I) systems of naval ships have evolved at a rapid pace in the recent years. To keep up with advances in technology, naval vessels and their systems are upgraded according to requirements. Naval vessels are thus installed with various advanced technical systems such as radar, geographic information system (GIS), robust communication equipment, surveillance, tracking systems, and others.
“Modular approaches to shipbuilding offer gain in time, cost, and quality. By using this approach, modules can be built and tested in tandem thereby decreasing the overall construction time, reducing the risk of integration of various systems, and resulting in overall cost savings for a whole ship,” says Faisal Ghaus, Vice President of Technavio.
“In the modular design approach, each module is developed as an individual block, and it is the combination of these blocks that makes the end product.”
Key Market Drivers
- Increased need for maritime surveillance
- Rise in conflicts
- Upgrade in naval vessels’ capabilities and systems
Key Market Trends
- Modularization of naval vessels
- Naval vessels manufacturing shift to emerging nations
- Trimaran configuration in naval vessel design
Key Market Vendors
- Babcock International
- General Dynamics
- Kawasaki Heavy Industries
- Lockheed Martin
- Mitsubishi Heavy Industries Marine Machinery & Engine
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Warship & Naval Vessels Market 2015-2019, please send an e-mail to media@TechNavio.com.
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