Warship Market

Warship Market: Introduction

• Warships and naval vessels are specifically designed for battles. Warships are faster, safer, and more agile than commercial vessels and ships. They are built to carry bare necessities for the crew, in contrast to merchant vessels that transport cargo. Battleships and other naval vessels are also operated by private parties, cooperatives, and businesses; however, the navy owns them.

Key Drivers of Global Warship Market:

• Rapidly changing technology in weapon launch systems is likely to propel the global warship market during the forecast period. Warship and its capability define the command of any country over its ocean boundaries. Therefore, global military warships are continuously witnessing technological innovations.
• Replacement of conventional diesel engines with liquefied natural gas (LNG) base engine is on the rise in order to decrease emissions, as LNG burns significantly cleaner. LNG releases low amounts of sulfur, nitrogen, and carbon dioxide into the atmosphere. This is likely to boost the global warship market.
• Increase in global defense spending is one of the main factors driving the market. Increased defense spending by nations in Asia Pacific and Middle East, such as China, India, and Saudi Arabia, has played a significant role in this expansion. Currently, several nations are heavily investing on enhancing and increasing their fleet of naval ships. Naval warships are involved in humanitarian aid and disaster relief efforts along with participating in offensive operations against enemy forces.

Restraints of Global Warship Market:

• High cost of building warships restricts the market. Warships are designed with highly expensive weapon launch systems and communication and sensing technologies. Additionally, majority of shipbuilding contracts are long-term, and therefore, any delay in shipbuilding may further increase the cost of the warship.
• Designing military ships takes longer due to their high equipment density and installation of a large number of sophisticated and complex systems containing high-value, sensitive equipment that need to comply with exacting standards. This hampers the warship market.

Opportunities in Global Warship Market:

• Increasing usage of information and communication technology (ICT), digitization, and sensor technology in modern warships offers significant opportunity for the global warship market
• Geopolitical tensions and maritime disputes between several countries are on the rise. Therefore, several countries are upgrading and replacing their aging fleets with newer generation vessels with advanced features.

Regional Outlook of Global Warship Market

• North America and Asia Pacific are projected to account for a significant share of the global warship market during the forecast period. The U.S. Navy is replacing its aging fleets with new cutting-edge fleets, which is driving the market in North America. Countries such as China, India, South Korea, and Indonesia are extensively increasing their military expenditure. Aggressive Chinese presence in South China Sea and increased security awareness among countries in Southeast Asia drive the demand for upgraded naval fleets. The warship market in Europe is expected to be propelled by a rise in the demand in the U.K., France, Italy, and Russia.

Key Players Operating in Global Warship Market:

• General Dynamics Corporation
• Huntington Ingalls Industries Inc.
• BAE Systems PLC
• Naval Group SA
• Fincantieri
• Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME)
• China Shipbuilding Industry Corporation (CSIC)
• Hyundai Heavy Industries
• Kawasaki Heavy Industries
• Lockheed Martin
• Mitsubishi Heavy Industries
• Garden Reach Shipbuilders & Engineers
• United Shipbuilding Corporation
• Navantia
• Reliance Naval and Engineering Limited
• Babcock International Group
• Others

Global Warship Market, Research Scope

Global Warship Market, by Type

• Aircraft carriers
• Cruisers
• Destroyers
• Frigates
• Corvettes
• Submarines
• Amphibious Assault Ships

Global Warship Market, by Technology

• Marine Engine System
• Weapon Launch System
• Sensor System
• Control System
• Electrical System
• Auxiliary System

Global Warship Market, by Application

• Combat Operations
• Mine Countermeasures (MCM) Operations
• Coastal Surveillance
• Search and Rescue

Global Warship Market, by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Nordic Region
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC
  • Turkey
  • South Africa
  • Rest of Middle East & Africa