Global Surface Combatant Market Sluggish Growth Rate Foreseen by 2022-2028

The global surface combatant market is anticipated to grow at a CAGR of 3.1% during the forecast period (2022-2028). The surface combatant, known as the surface ship or surface vessel, is a group of naval vessels designed to fight over water, armed with armed forces. Usually, ships are built to fight other ships, submarines, aircraft, or landmarks, and can perform a number of other functions, including anti-drug and maritime operations. Their main purpose is to include space, air, surface, and underwater areas with weapons mounted on the ship itself, instead of man-made vessels. In addition, more wars are the most technologically advanced warships used for naval missions. The warships are armed with their own programs to launch weapons such as submarine anti-submarine missiles, torpedo launch systems, rocket launchers, and precision rocket-propelled grenades. The integration of information, communication, and technology (ICT) into the navy is expected to boost further surface combatant market growth during the forecast period.

Some of the factors contributing to the growth of the market include the use of robots and technological advances in naval vessels and naval facilities and the increasing adoption of LNG-powered submarines and warships. However, the high cost of naval and naval development and the most common processes, industrial integration, and procurement patterns within the market create barriers, thereby disrupting market growth. On the other hand, new products, processes, and innovations recently introduced in the industry are expected to provide lucrative market opportunities during the forecast period.

The construction of ships and new technologies in ships and naval forces provide safe and effective maritime services. Ship-building robots are used for welding, lifting heavy objects, blasting, painting, and other tasks in the shipyard. Many companies introduce such products, which are currently in production processes using robotic systems. In addition, these robotic systems increase the productivity of the shipbuilding industry. In addition, these companies that have developed mini-welding robots are set to adopt robotics technology in shipbuilding. In addition, the increasing demand for robotic technology in shipbuilding encourages surface combatant market growth.

Increased adoption of LNG petrol engines on ships and naval vessels Liquefied Natural Gas (LNG) is a unique fuel for maritime vessels and more troops. In LNG engines, CO2 emissions are reduced by 20% compared to conventional diesel engines. Nitrogen oxide emission (NOX) emissions are reduced by about 90%, while sulfur oxide (SOX) emissions are eliminated. In addition, a new generation of marine engine engines is much needed to comply with TIER 3’s limitations in many economies by the International Maritime Organization (IMO). Therefore, increasing the acquisition of LNG-powered engines will improve market growth. For instances, in November 2019,  Austal Ltd., and the Australian Department of Defense signed a contract to deliver the fifth guardian class patrol boat to the Australian Department of Defense. The expected delivery of the patrol boat is was scheduled in 2020.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Platform
  • By System
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ASC PTY LTD, DSME Co., Ltd., General Dynamics Corp., Hyundai Heavy Industries Co., Ltd., and Huntington Ingalls Industries, Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Surface Combatant Market Report by Segment

By Platform

• Aircraft Carriers
• Destroyers
• Corvettes
• Amphibious Ships
• Frigates
• Auxiliary Vessels

By System

• Marine Engine System
• Weapon Launch System
• Sensor System
• Control System
• Electrical system
• Auxiliary System

By Application

• Search &Rescue
• Combat Operations
• MCM Operations
• Coastal Surveillance