Global Naval Vessels MRO Market to Reach $22.6 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Naval Vessels MRO estimated at US$16.5 Billion in the year 2020, is projected to reach a revised size of US$22.6 Billion by 2027, growing at a CAGR of 4.6% over the analysis period 2020-2027. Aircraft Carrier, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$9.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Submarine segment is readjusted to a revised 3.6% CAGR for the next 7-year period.The U.S. Market is Estimated at $4.9 Billion, While China is Forecast to Grow at 4.3% CAGR
The Naval Vessels MRO market in the U.S. is estimated at US$4.9 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2027 trailing a CAGR of 4.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.Destroyer Segment to Record 6.1% CAGR
In the global Destroyer segment, USA, Canada, Japan, China and Europe will drive the 6.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.9 Billion in the year 2020 will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.Select Competitors (Total 47 Featured) -
- BAE Systems PLC
- Elbit Systems Ltd.
- General Dynamics Corporation
- Harris Corporation
- Huntington Ingalls Industries, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins, Inc.
- SAAB AB
What's New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
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Report Attribute | Details |
---|---|
No. of Pages | 247 |
Published | October 2022 |
Forecast Period | 2020 - 2027 |
Estimated Market Value ( USD | $ 16.5 Billion |
Forecasted Market Value ( USD | $ 22.6 Billion |
Compound Annual Growth Rate | 4.6% |
Regions Covered | Global |
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
A selection of companies mentioned in this report includes:
- BAE Systems PLC
- Elbit Systems Ltd.
- General Dynamics Corporation
- Harris Corporation
- Huntington Ingalls Industries, Inc.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Company
- Rockwell Collins, Inc.
- SAAB AB