Asia-pacific Surface Warships Market Forecast 2022-2030

Asia-pacific Surface Warships Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific surface warships market is set to grow at a CAGR of 3.12% during the forecast years 2022 to 2030. The region’s market growth is credited to the increasing expenditure on fleet modernization, significant investment in research and development, and the rising number of naval programs.

MARKET INSIGHTS

The Asia-Pacific surface warships market growth assessment comprises the analysis of Indonesia, North Korea, China, Japan, India, South Korea, Myanmar, Vietnam, and Rest of Asia-Pacific. The two largest deployable surface warships globally are being built by Japan. The two unidentified warships will defend the country from North Korean and Chinese ballistic missiles, with the possibility of being loaded with chemical or nuclear bombs. Moreover, the two destroyers will be built specifically to accommodate the SM-3 missile interceptors, radar, as well as Aegis combat system. Each ship is estimated to be 130 feet wide, 690 feet long, and weighs approximately 20,000 tons.

On the other hand, the second phase (RENSTRA II) of the Indonesian Navy’s expansion plans for the Minimum Essential Force is currently underway. While additional expenditure is expected, technological transfers will enable the country to construct structures of larger proportions. Moreover, Six FREMM frigates will be sold to Indonesia by Fincantieri under a signed agreement. The contract also includes the sale as well as restoration of two Maestrale-class frigates to the nation, scheduled to be retired from duty by the Italian Navy, in addition to the sale of the FREMM. Hence, these factors are set to augment the Asia-Pacific surface warships market growth during the forecasting period.

COMPETITIVE INSIGHTS

Leading players operating in the market are Hyundai Heavy Industries, BAE Systems, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments