Global Naval Ship Propeller Market Size By Product, By Application, By Geographic Scope And Forecast

Naval Ship Propeller Market Size And Forecast

Naval Ship Propeller Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.

The disputes in the Arabian Sea, Indian Ocean, and the South China Sea are propelling the navies to further strengthen their sea-based capabilities. All these factors are helping the procurement of naval ships, thereby supporting the growth of the naval ship propeller market. The Global Naval Ship Propeller Market Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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Global Naval Ship Propeller Market Definition

A propeller contains rotating blades and produce thrust through these rotating blades. A marine propeller is made up of sections of helicoidal surfaces which act together screwing through the water. The number of blades in propeller decides the speed of ship. The more the blades present in the propeller the more is the speed. However, the decisions concerning number of blades in the propeller are influenced to a great extent by the need to minimize the vibration caused in the propeller.

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Global Naval Ship Propeller Market Overview

Fixed pitch propellers are robust and reliable, as the system does not incorporate any mechanical and hydraulic subsystems as in the controlled pitch propellers. Moreover, their installation, manufacturing, and operational costs are lower than the other types of propellers. Thus, they are now widely being used in naval ships. The high growth rate of the segment is attributed to its benefits, such as higher propulsion efficiency, better maneuverability, less wear and tear of the blades, and significant NVH performance, as compared to others. Thus, they are now being adopted slowly, and thereby their revenue share is expected to grow during the forecast period.
Procurements of naval ships are increasing every year, due to several maritime issues that the military is facing. This may, in turn, drive the market for naval ship propellers in the years to come.

Technical advancements in the marine propulsion industry and the development of new materials are other drivers for the naval ship propeller market. The demand generated by these procurements is helping the market for naval ships propellers. However, during the forecast period, Asia-Pacific is expected to register the highest CAGR. Procurements of naval ships in the region are driven by the high military expenditure by the emerging economies in the Asia Pacific region, such as India and China. Additionally, the disputes in the Arabian Sea, Indian Ocean, and the South China Sea are propelling the navies to further strengthen their sea-based capabilities. All these factors are helping the procurement of naval ships, thereby supporting the growth of the naval ship propeller market.

Merchant vessels used for shipping operations emit the same percentage of sulfur oxide as compared to other transport vehicles, such as trucks, cars, and buses. The innovation of hybrid power marine engines and propulsion systems has resolved the issue associated with high fuel consumption and subsequently emissions. Reduction in fuel consumption will reduce the cost associated with seaborne trade which will further increase the seaborne trade and demand for new merchant ships.

Global Naval Ship Propeller Market Segmentation Analysis

The Global Naval Ship Propeller Market Segmented On The Basis Of Product, Application, and Geography.

Naval Ship Propeller Market, By Product

• Fixed Pitch Propeller
• Controllable Pitch Propeller
• Others

Based on Product, the market is segmented into Fixed Pitch Propeller, Controllable Pitch Propeller, Others. A marine propeller is made up of sections of helicoidal surfaces which act together screwing through the water. The number of blades in propeller decides the speed of ship. The more the blades present in the propeller the more is the speed. However, the decisions concerning number of blades in the propeller are influenced to a great extent by the need to minimize the vibration caused in the propeller.

Naval Ship Propeller Market, By Application

• Battleship
• Frigate
• Others

Based on Application, the market is bifurcated into Battleship, Frigate, Others. Fixed pitch propellers are robust and reliable, as the system does not incorporate any mechanical and hydraulic subsystems as in the controlled pitch propellers. Moreover, their manufacturing, installation, and operational costs are lower than the other types of propellers. Thus, they are now widely being used in naval ships.

Naval Ship Propeller Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Geography, the Global Naval Ship Propeller Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The United States is procuring new naval ships constantly every year. The demand generated by these procurements is helping the market for naval ships propellers. However, during the forecast period, Asia-Pacific is expected to register the highest CAGR. Procurements of naval ships in the region are driven by the high military expenditure by the emerging economies in the Asia Pacific region, such as India and China.

Key Players

The “Global Naval Ship Propeller Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Konsberg, MAN Energy Solutions, VEEM Propellers, ANDRITZ, Mecklenburger Metallguss, Bruntons Propellers, Schottel, Michigan Wheel.  

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Report Scope

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Reasons to Purchase this Report:

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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