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Rising Security Threats Sustain Expenditure on Military Naval Vessels Platforms Finds Frost & Sullivan - Asia-Pacific rapidly emerging as the new manufacturing hub for military naval vessels - Defense.Frost.com
Rising Security Threats Sustain Expenditure on Military Naval Vessels Platforms Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2015/01/15 - Asia-Pacific rapidly emerging as the new manufacturing hub for military naval vessels - Defense.Frost.com.

   
 
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Deteriorating international relations across the world have caused countries to sanction extensive naval modernization and re-armament programs in Asia-Pacific, the Middle East and Russia. The Ukraine crisis, territorial disputes on the South China Sea and growing tensions in the Middle East have ensured that the market growth remains stable, although low.

New analysis from Frost & Sullivan, Global Military Naval Vessels Platforms Market Assessment, finds that the cumulative naval vessels new platforms segment’s expenditure is expected to reach $376.07 billion by 2023, at a compound annual growth rate (CAGR) of 1.0 percent. The military vessels’ modernisation/upgrade segment, estimated to be worth 59.26 billion from 2014 to 2023, is likely to generate the highest CAGR of 2.6 percent.

If you are interested in more information on this study, please send an email to Edyta Grabowska, Corporate Communications, at edyta.grabowska[.]frost.com.

The market gained the most revenues from the procurement of multi-role frigates. The frigate is a very versatile warship, which merges together high speed, anti-ship missiles, air defence, and anti-submarine warfare capabilities with moderate operation and maintenance costs. Therefore, the frigate is becoming a primary vessel in most of the navy fleets.

“Military vessels based on the multi-mission modular vessel (MMMV) design will be more common and affordable for end users,” said Frost & Sullivan Aerospace & Defence Industry Analyst Dominik Kimla. “Additionally, Frost & Sullivan expects more standardisation among various MMMV designs across naval companies. This will translate to long-term cost efficiency on the procurement and support-in-service of MMMV vessels.”

North America is likely to retain its position as the top region in terms of military vessels spending during 2014-2023. Its share in global military naval vessels revenue is forecast to marginally grow from 34.4 percent in 2014 to 34.7 percent in 2023. This steady procurement spending is a result of ongoing projects; however, sequestration could impact procurement in in the next five to seven years.

The market is dominated by Western European, American, and Russian naval companies. However, shipyards in Asia-Pacific, particularly South Korea and Japan, will increase their market position in the naval domain due to intensifying competition among original equipment manufacturers (OEMs). It is expected that Japanese companies such as Mitsubishi Heavy Industries and Kawasaki Heavy Industries will substantially augment their presence in the naval market with the easing of a decades-old self-imposed defence export ban.

Significantly, Chinese shipyards are increasing their presence in the naval market by offering relatively advanced and low-cost solutions. They also strategically offer competitive financial packages to fund military vessel deals in acknowledgement of navies’ limited budgets in most countries.

There is a clear trend across regions toward procuring indigenous naval capabilities. National navies award projects to domestic shipbuilders, giving a boost to in-country construction and technology transfer. Technology transfers and partnerships with local shipyards are important decisive factors for most naval end-users.

“New models of acquiring naval capabilities, such as leasing or public-private partnerships, will be implemented to provide necessary military capabilities,” noted Kimla. “Therefore, naval companies need to adopt a proactive approach to addressing customers’ needs and provide naval capabilities in the framework of leasing and private-partnership agreements.”

Global Military Naval Vessels Platforms Market Assessment is part of the Defence (defense.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Commercial Aircraft Hydraulic Systems, Global Military Helicopters Market Assessment, Global Civil Helicopters Market, and Global Military Satcom Applications Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

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Global Military Naval Vessels Platforms Market Assessment / MA74-16

 
 
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Rising Security Threats Sustain Expenditure on Military Naval Vessels Platforms Finds Frost & Sullivan

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Publisher Contact: Edyta Grabowska - Frost.com 
+48 22 481 62 03 edyta.grabowska[.]frost.com
 
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