Technavio, a tech-focused market research firm, has published a new report on the global nuclear powered naval vessels market, which is expected to grow at a CAGR of close to 6% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers divide the global nuclear powered naval vessels market into the following primary regions: the Americas, APAC, and EMEA.
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Global nuclear-powered naval vessels market in the Americas: The increasing efforts by the US Navy to introduce superior combat fleet will drive the growth of the market in this region. The US Navy has an entire sea strategic deterrents ranging from submarines to aircraft carriers, which are nuclear powered. The US, Brazil, Canada, and Mexico contribute to the majority of the nuclear-powered naval vessels market in this region. The players in the market are concentrating on the development of a single large nuclear-powered submarine and the construction of four diesel-electric attack submarines, which, in turn, will boost the sale of these vessels in the American market.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on defense, “The manufacturers in the American market are focusing on launching new vessels with advanced technologies that will propel the growth of this region. Some of the new technology introduced in the American market include redesigned island, electromagnetic catapult system, a new nuclear reactor, new aircraft arresting gear, and new multifunction and volume search radars. The growing adoption of nuclear-powered propulsion will help reduce the cost of the systems and the need for frequent refueling.”
Global nuclear-powered naval vessels market in EMEA: The growing number of investments for the development and procurement of superior systems for naval warfare will fuel the growth of the market in EMEA. Several countries across the EMEA region are replacing their old attack submarines with newly developed vessels integrated with advanced technology. The vendors are introducing systems with value-added features like improved communication capabilities and an increased force-projection capability based on cruise missiles to increase their sales in the region.
Global nuclear-powered naval vessels market in APAC: The introduction of naval ships with advanced propulsion systems that sail longer without requiring to refuel will boost the growth of the market in APAC. The vendors in the market are launching nuclear-powered ballistic missile submarine with high-end control systems to expand their consumer base. China and India will emerge as the highest revenue generator in this region during the forecast period.
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The top leading vendors operating in the global nuclear powered naval vessels market are:
- BAE Systems
- DCNS
- General Dynamics
- Huntington Ingalls Industries
- United Shipbuilding Corporation (USC)
Other prominent vendors in the market include Austal, Cochin Shipyard, Daewoo Shipbuilding & Marine Engineering (DSME), Fincantieri, Kawasaki Heavy Industries, and Navantia.
A comprehensive analysis is presented in the Technavio report titled, ‘Global Nuclear Powered Naval Vessels Market 2017-2021’. Technavio also customizes reports by additional regions and specific segments upon request.
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