Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Military shipbuilding market led by BAE Systems, General Dynamics and Northrop Grumman

Industry Sector

Defence

Published

31 October 2012

Author

Matt Bodimeade

Type of News

Market

The military shipbuilding market, currently valued at $38.9 billion, has been forecast to increase at a compound annual growth rate (CAGR) of 2.93% through to 2015.

Despite the massive effect of the global downturn on builders of commercial aircraft and ships, companies primarily involved in the building of their military equivalents fared considerably better. The national security considerations of governments and long-term planning undertaken for military expenditure have ensured that revenue for the global military shipbuilding industry has been relatively stable.

Key factors contributing to growth within the shipbuilding market include the increasing share of the defence budget now allocated to the sector, as well as the increase in collaborations between countries.

Such collaborations between countries will help to reduce the cost associated with development programs and enable partnering countries to gain market share, as in the case of the joint partnership between France and Italy for the FREMM European multi-mission frigate program where the prime contractors are Armaris and Orizzonte Sistemi Navali.

Furthermore, the increase in defence spending is one of the major factors driving the growth of the Global Military Shipbuilding and Submarines market. Governments in countries such as China, India, Brazil, Saudi Arabia, Russia, the United Arab Emirates, South Korea, and Spain are expected to increase their defence budget to double digits by 2015.

Key players currently dominating the military shipbuilding market include BAE Systems plc., DCNS S.A., General Dynamics Corp., and Northrop Grumman Corp.

For more information on the military shipbuilding market, see the latest research: Military Shipbuilding Market

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

eBrandPromote: Get your brands ranked highly online

eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.

Accessibility
Close

Contrast settings

Text size settings