World Market for Naval Vessels, Surface Combatants and Related MRO to See 3.31% CAGR till 2026, Says SDI in Report Available at MarketPublishers.com17 Nov 2016 • by Natalie Aster
LONDON – At present, the value of the overall market for naval vessels, surface combatants and related MRO is estimated at around USD 36.3 billion. In the next 10 years, this market value is anticipated to see healthy growth at a 3.31% CAGR. By the year 2026, the world’s market for naval vessels, surface combatants and related MRO is predicted to climb to the value of USD 50.3 billion.
During the next decade, the corvettes segment will likely command the major share (26.7%) of the total market.
Region-wise, the worldwide market for naval vessels, surface combatants and related MRO is anticipated to be dominated by North America with a share of 33.8%. it will be followed by APAC and Europe with shares of 33% and 20.4% respectively.
Expenditures in the world naval vessels, surface combatants and related MRO market are likely to be spurred by increasing terrorist attacks, arms races, illegal infiltration, strong need to safeguard maritime trade from piracy, amid other factors.
The global demand for naval vessel MRO services will be on the rise through 2026, driven by technological advancements and innovations in the industry, aging naval vessels, increasing number of both external and internal security threats, favourable modernization initiatives and rising number of territorial disputes.
In-demand publication “The Global Naval Vessels, Surface Combatants and Related MRO Market 2016-2026” by Strategic Defence Intelligence (SDI) presents in-depth unbiased insights into the worldwide market for naval vessels, surface combatants and related MRO. It uncovers important data on historical performance and present landscape, touches upon the regulative framework, reviews the situation across key geographical markets, offers info on competitive environment and top players. Additionally, the report contains a future outlook for this market up to 2026.
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