LONDON, Nov. 18, 2015 /PRNewswire/ -- Global Naval Combat Systems Market 2016-2020
Covering: This market research report presents a comprehensive segmentation of the global naval combat systems market by systems such as C4ISR, electronic warfare, and weapons. It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are BAE Systems, IMI, Lockheed Martin, Raytheon, and Thales.
Market overview of naval combat systems
Technavio's research analyst predicts the global naval combat systems market to grow at a CAGR of 3% during the forecast period. The rising need to enhance the marine operational safety and efficiency is the primary driver for the growth of this market. The growing technology and investments have led to the evolution of numerous automated systems such as electro-optic detection, underwater acoustic weapons, fence, virtual fence, MACE, and integrated security systems. Moreover, the integration of advanced radar systems, EO/IR technologies, and underwater weapons with the combat ships is projected to lighten the workload of the naval crew of their workloads and assures the availability of essential maritime information with enhanced protection.
The emergence of the advanced airborne radar is expected to contribute to the market growth during the forecast period. For instance, the advanced airborne sensor (AAS) project, developed by Raytheon along with the US Navy, is equipped with a double-sided active, electronically scanned array (AESA) technology and is capable of automatically detecting vessels over a long distance. It can also deliver high-resolution imagery of surface areas from long range even during adverse weather conditions, prohibiting the use of EO/IR imaging.
Market segmentation by system type of naval combat systems
- Electronic warfare
Weapons accounted for 45% of the market share during 2015 and is expected to reach a market value of around USD 16 billion by 2020. The extensive procurement of anti-ship missile defense systems and MANPADS (man-portable air defense systems) by combat ships is expected to drive the growth of this segment during the forecast period.
Geographical segmentation of the global naval combat systems market
The Americas dominated the market during 2015, with a market share of around 39%. The focus on the development and modernization of the Aegis combat ship in US Navy is expected to contribute to the market growth in this region. This research report predicts the region to reach a market value of around USD 14 billion by the end of 2020.
Competitive landscape and key vendors
The global naval combat systems market is highly competitive with the presence of well-established international providers. Vendors compete on the basis of cost, product quality, reliability, and aftermarket services. The report predicts the market to witness an increase in mergers and acquisitions, along with augmented collaboration with alliance partners around the world.
The five leading vendors in the market are -
- BAE Systems
- Lockheed Martin
The other prominent vendors in this market include General Dynamics, Harris Corp, L-3 Communication, Northrop Grumman, and Sagem.
Key questions answered in the report
- What are the key factors driving the global naval combat systems market?
- What are the key market trends impacting the growth of the global naval combat systems market?
- What are the various opportunities and threats faced by the global naval combat systems market?
- Trending factors influencing the market shares for EMEA, APAC, and Americas?
- Key outcome of the five forces analysis on the global naval combat systems market?
- Growth forecast of the global naval combat systems market until 2020?
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