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Procurement Programmes of New Vessels by Navies Drive the European Naval Sensors Market Says Frost & Sullivan - New analysis from Frost & Sullivan, European Naval Sensors (EO/IR) Market Assessment, finds that the market earned revenues of over $28 million in 2008 and estimates this to reach $91 million in 2017
Procurement Programmes of New Vessels by Navies Drive the European Naval Sensors Market Says Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2009/08/26 - New analysis from Frost & Sullivan, European Naval Sensors (EO/IR) Market Assessment, finds that the market earned revenues of over $28 million in 2008 and estimates this to reach $91 million in 2017.

   
 
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In response to standing NATO directives, several member states have actively implemented new vessel procurement programs. CEE countries like Poland, Bulgaria and Romania are modernising their largely Soviet-era fleets while countries with advanced navies, like Italy, push for high technology solutions.

New analysis from Frost & Sullivan (aerospace.frost.com), European Naval Sensors (EO/IR) Market Assessment, finds that the market earned revenues of over $28 million in 2008 and estimates this to reach $91 million in 2017. The market will likely grow by a further 35 per cent due to the rising importance for advanced technology and upgrades across European navies.

"Entry into the CEE markets requires a solid understanding of local regulations and requirements, though this alone does not automatically ensure success," states Frost & Sullivan Research Analyst Harish Balasubramanian. "The sensor market is experiencing a degree of consolidation; with larger companies increasingly dominating the market, while smaller local manufacturers focus primarily on domestic sales." However, technological advancement will shift this balance, by making it easier for smaller companies to bid on specific solutions.

To demonstrate their ability to fulfil common missions within NATO, CEE countries like Poland, Bulgaria and Romania face massive fleet upgrades of their mostly Soviet-era equipment. Poland faces the daunting task of modernising one of the largest fleets among the new NATO member states on a tight budget that is not expected to change over the forecast period. Price, therefore, will be the determining factor in this market.

Because developed navies tend to value technology over life-cycle service they should establish partnerships with other suppliers. "For countries like Italy with technologically advanced navies and a strong industrial base they are keen to retain, partial solution partnerships would facilitate entry into these markets," concludes Balasubramanian. Advanced technology and good life cycle support will be the major success factors in the Italian market.

The major challenge for the sensor industry in Europe is the fact that "the current perception of the navy's role remains inconsistent," notes Balasubramanian. "Existing threats as well as the role of naval forces are perceived differently across Europe, causing uncertainty regarding customer expectations. Stronger cooperation between market participants and end users could be a potential solution to this challenge."

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Monika Kwiecinska, Corporate Communications, at monika.kwiecinska[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.

European Naval Sensors (EO/IR) Market Assessment is part of the Defence Growth Partnership Services programme, which also includes research in the following markets: Global Commercial Aviation Electrical Power Systems Market, European Oil & Gas Infrastructure Security Market, Middle East Oil & Gas Infrastructure Security Market, and European Land-based ISTAR Vehicle Electronics Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.

European Naval Sensors (EO/IR) Market Assessment / M2BB

 
 
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Procurement Programmes of New Vessels by Navies Drive the European Naval Sensors Market Says Frost & Sullivan

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Publisher Contact: Monika Kwiecinska 
+48 22 390 4127 monika.kwiecinska[.]frost.com
 
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