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Naval Ship Propeller Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4771688
  • Report
  • February 2020
  • Region: Global
  • 100 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Andritz AG
  • Bruntons Propellers Ltd
  • MAN Energy Solutions
  • Michigan Wheel
  • Schottel Group
  • VEEM Propellers
  • MORE
The naval ship propeller market is projected to register a CAGR of more than 3% during the forecast period.
  • Procurements of naval ships are increasing every year, due to various maritime issues that the military is facing. This may, in turn, drive the market for naval ship propellers in the years to come.
  • Technical advancements in the marine propulsion industry and the development of new materials are other drivers for the naval ship propeller market.
Key Market Trends

The Fixed Pitch Propellers Segment Registered the Highest Market Share in 2019.

As of 2019, the fixed pitch propellers segment has the highest market share. Fixed pitch propellers are robust and reliable, as the system does not incorporate any mechanical and hydraulic subsystems as in the controlled pitch propellers. Moreover, their manufacturing, installation, and operational costs are lower than the other types of propellers. Thus, they are now widely being used in naval ships. However, during the forecast period, the controllable pitch propeller segment is expected to register the highest CAGR in the forecast period. The high growth rate of the segment is attributed to its benefits, such as higher propulsion efficiency, better maneuverability, less wear and tear of the blades, and significant NVH performance, as compared to others. Thus, they are now being adopted slowly, and thereby their revenue share is expected to grow during the forecast period.

The Market in the Asia-Pacific Region is Expected to Grow with High CAGR During the Forecast Period

Currently, the market in North America is the largest, followed by the Asia-Pacific region. The US is procuring new naval ships constantly every year. The demand generated by these procurements is helping the market for naval ships propellers. However, during the forecast period, Asia-Pacific is expected to register the highest CAGR. Procurements of naval ships in the region are driven by the high military expenditure by the emerging economies in the Asia Pacific region, such as India and China. Additionally, the disputes in the Arabian Sea, Indian Ocean, and the South China Sea are propelling the navies to further strengthen their sea-based capabilities. All these factors are helping the procurement of naval ships, thereby supporting the growth of the naval ship propeller market.

Competitive Landscape

Kongsberg Gruppen AS (Rolls-Royce Holding PLC), VEEM Propellers, MAN Energy Solutions, Mecklenburger Metallguss GmbH, and Andritz AG are some of the prominent players in the market. Acquisitions of local players and companies in the supply chain may help the players to further strengthen their presence in the market. As the contracts to be gained are for naval ships, many norms and regulatory requirements have to be met. Moreover, for new players, the investment costs are expected to be high, as the size and complexity of the propellers for naval ships are far higher, compared to those for smaller boats. Investments in R&D, in terms of materials and the designs, may help the players in the years to come.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Andritz AG
  • Bruntons Propellers Ltd
  • MAN Energy Solutions
  • Michigan Wheel
  • Schottel Group
  • VEEM Propellers
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 Propeller Type
5.1.1 Fixed Pitch Propeller
5.1.2 Controllable Pitch Propeller
5.1.3 Other Propeller Types
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 Latin America
5.2.4.1 Mexico
5.2.4.2 Brazil
5.2.4.3 Rest of Latin America
5.2.5 Middle-East and Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 Turkey
5.2.5.4 Egypt
5.2.5.5 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Kongsberg (Rolls-Royce Holding PLC)
6.2.2 MAN Energy Solutions
6.2.3 VEEM Propellers
6.2.4 Andritz AG
6.2.5 Mecklenburger Metallguss GmbH
6.2.6 Bruntons Propellers Ltd
6.2.7 Schottel Group
6.2.8 Michigan Wheel

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Kongsberg (Rolls-Royce Holding PLC)
  • MAN Energy Solutions
  • VEEM Propellers
  • Andritz AG
  • Mecklenburger Metallguss GmbH
  • Bruntons Propellers Ltd
  • Schottel Group
  • Michigan Wheel
Note: Product cover images may vary from those shown
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