The report, now available on ASDReports recognizes the following companies as the key players in the Global Warship and Naval Vessels Market: Babcock International Group, General Dynamics, Kawasaki Heavy Industries, Lockheed Martin and Mitsubishi Heavy Industries
Other Prominent Vendors in the market are: CSIC, DSME, Fincantieri, GRSE, Hyundai Heavy Industries, Navantia and Pipavav Defense and Offshore Engineering
Commenting on the report, an analyst said: “To overcome certain design drawbacks and improve naval vessels performance, new and optimized design configurations providing enhanced capability and operability of naval vessels are expected to be prevalent in the market. The prevalence of the trimaran configuration in naval vessel designs is one such trend.”
According to the report, increased demand for naval vessels from emerging markets in Asia, South America, and Africa will contribute the market growth. The existence of a fleet of naval vessels increases the need to upgrade the systems to remain compatible with evolving technology and contribute to the demand for multipurpose applications.
Further, the report states that the economic slowdown in Europe and defense budget cuts in countries such as the US hinders market growth. Furthermore, ease of maintenance is the key to long-term operation and applicability of the naval vessels. However, limited availability of spare parts and maintenance facilities in emerging countries further hampers the market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Nov 2, 2015