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How to Convert New Procurement Programs and Upcoming Contracts into Opportunities as Global Powers Expand their Fleets
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Rising global tensions, territorial expansionism, rise of non-state actor-led conflicts, and the associated displacement of population have fueled the expansion of naval deployments. As many nations face vessel obsolescence in the next few years and others have to deploy new, advanced naval assets to counter rival fleet expansionism, the market is on an upward curve. There is renewed emphasis on stealth, automation, multi-mission capability, and modular ship design by operators. Companies should be cognizant of long-lead programs initiated by navies/MoDs worldwide and also the products they prefer to be ahead of the competition.During the study period, $650.83 billion will be spent for the procurement of new ships. Mainly driven by surface combatant and submarine programs, the market will peak in 2021, with a valuation of $72.33 billion. Many programs—those that are already underway and those that are planned in the short term—will peak during 2021–2022, after which the market valuation will taper off. With the average age of warships being 25 years globally, more than 180 procurement programs are underway in various nations. Several high-value procurement decisions will be taken in the next 3 years and opportunities worth approximately $285.92 billion will be created during the forecast period. Through this research service, Frost & Sullivan provides an assessment of naval ship building programs, opportunities, forecasts, and technology trends on a macro level, along with a comprehensive micro-level country-wise assessment.Research Scope:Market trends are analyzed for the study period 2016 to 2026, with the base year as 2016. The scope of the study is global, covering most nations that field a naval force.The market is segmented across surface combatants, submarines, support ships, and patrol boats. Each segment is broken up into different vessel types and classes for granularity in information. Companies mentioned in the study include Fincantieri, BAE Systems, Northrop Grumman, General Dynamics Electric Boat, Raytheon, STM, TKMS, Kongsberg Marine, HII, and DCNS, among others.Country-specific modernization and life extension and upgrade programs are arrived at using a combination of data including vessel acquisition and commissioning time frames, defense contract data, previous upgrades, defense spending patterns, and geo-political exigencies.Key questions this study will answer include:• What are the committed, planned, and upcoming opportunities in the naval ship building market in the next 10 years?• Which are the geographical markets and segments that are growing?• What are the key success factors that OEMs should consider in the market?• What drives the need for procuring new naval ships in different nations and how do their procurement preferences and market dynamics differ?• What are the major programs that are underway or planned within these markets and what are the opportunities they open up for OEMs/contractors?• Are there any capability gaps in the markets that need to be anticipated?
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