Overview of the global aircraft carriers market
The global aircraft carriers market is anticipated to grow at a steady rate and will post a CAGR of more than 2% during the forecast period. The increasing focus on gaining more dominance over the sea will drive the growth prospect for the global aircraft carriers market until the end of 2020. Many countries are developing and acquiring a number of warships including aircraft carriers to upgrade their maritime defense units. Such development of assets will lead to advancements in naval combat systems, which will allow defense authorities to have greater dominance over seas and oceans. These aircraft carriers are imperative floating airbases that carry fighter aircraft, dive bombers, and torpedo planes and provide readily available air support to naval fleets. Moreover, as of 2016, 39 aircraft carriers have been deployed in international waters and countries such as the US, India, Russia, China, and the UK are likely to replace the existing aircraft carriers with new ones, which would strengthen their defense abilities in the neighboring seas. Some of the examples of aircraft carrier programs include Gerald R. Ford-class aircraft carrier of the US Navy, Izumo-class aircraft carrier of the JMSDF, Ulyanovsk-class aircraft carrier of the Russian Navy, a Vikrant-class aircraft carrier of the Indian Navy, and Liaoning-class aircraft carrier of the People's Liberation Army Navy China.
The growing emphasis on the development of smaller aircraft carriers will fuel the growth prospects for the global aircraft carriers market during the forecast period. Currently, small aircraft carriers are used for the deployment of unmanned aerial vehicles (UAVs). Also, UAVs are important as they are used to gather intelligence and provide surveillance to support the airborne and naval forces. Consequently, a number of aircraft carriers are being developed to deploy these vehicles.
Overview of the global military electro-optical and infrared systems market
Technavio’s market research analyst predicts the global military electro-optical and infrared systems market to grow at a CAGR of close to 7% between 2016 and 2020. Factors such as growing territorial disputes between countries have led to the increased focused on naval warfare, thus, propelling several naval agencies to upgrade the target acquisition capability of their existing naval platforms with advanced EO/IR sensors and combat systems. The military EO/IR systems market is primarily driven by developments in sensor technology, which has resulted in the strengthening of capabilities of the multi-sensor EO targeting pods, including compass thermographic sensors, target laser range finders, laser spot detectors, and low-light television cameras. With extensive changes in terms of manufacturing of components and subcomponents within EO/IR systems, the global military EO/IR systems market is expected to witness substantial growth during the forecast period.
The growing preference for small UAVs owing to their tactical advantages has propelled technology providers to design miniaturized EO/IR systems that can be fitted with small UAVs and are capable of dispelling sufficient heat without negotiating on the performance of a miniaturized UAV. Growing concerns about developing cost-effective cooling technologies have augmented the opportunities for the cooled thermal imaging camera providers. It has also encouraged the proliferation of EO/IR systems within the defense industry, as the sensors used in thermal imaging cameras are expected to improve the target detection and surveillance capabilities of miniaturized UAVs.
Competitive landscape and key vendors
Overview of the global military aircraft hangars market
The global military aircraft hangars market is expected to grow at a steady rate and will post a CAGR of close to 3% during the forecast period. Factors such as the establishment of military infrastructure on remote islands will drive the growth prospects for the market’s growth during the forecast period. Several countries are focusing on establishing and maintaining military infrastructures in remote areas, which holds a strategic importance during combat situations. Since World War II, the US Department of Defense has built and sustained military infrastructures to sustain themselves under emergency needs. Also, the Government of India has constructed military infrastructures in Assumption island, Seychelles, to gain a strategic advantage in the West African region, especially for defense and maritime security purposes. Since hangars in the defense sector serve as a key resource to strategize, develop, operate, and maintain a sturdy fleet of combat aircraft, its demand among the defense end-users is anticipated to increase over the next few years.
According to Technavio’s research studies, the construction of hangar museums for public display will drive the market’s growth during the forecast period. One of the purposes for hangar museums is to elucidate people regarding the military capabilities and encourage them to join military services. Some of the hangar museums are also being used as a public gallery to showcase a comprehensive collection of retired fighters and other weapons.
Competitive landscape and key vendors
The market is highly fragmented with several multinational, regional, and local suppliers who are offering homogenous products and services. These vendors are also competing against each other on the basis of cost, reliability, and service quality to gain an edge over their
Overview of the global air-cushion vehicle market
The rising territorial water zone disputes and security concerns for sea trade across the world have resulted in the growing emphasis on maritime security. To counter such concerns and safeguard trading ships, several countries globally are making massive investments in amphibian landing vessels like air-cushion vehicles. These vehicles are deployed for coastal patrol, maritime surveillance, and search and rescue operations owing to its high-speed maneuverability capabilities. Also, the air-cushion vehicle industry is witnessing the production of advanced landing crafts that can travel on several types of terrain like ice and sand. With the inclusion of several modernization programs, naval fleets worldwide are investing in advanced air-cushion vessels to the existing fleet to protect and safeguard sea borders from various threats. Technavio’s market research analyst predicts the global air-cushion vehicle market to exceed USD 4 billion by 2020.
One of the latest trends gaining traction in the market is the development of next-generation air-cushion vehicles. The US Navy is focusing on the development of advanced surface connectors like Ship-to-Shore Connector (SSC) that are more consistent and cost-effective to operate than the older LCACs. These vehicles can be operated by only a two-member crew, including a pilot and co-pilot due to the new joystick control system instead of rudder pedals.
Competitive landscape and key vendors
The global air-cushion vehicle market is
Overview of the global agility training equipment market
According to Technavio’s market research analyst, the global agility training equipment market is likely to grow at a moderate CAGR of over 3% by 2020. The advent of new variants of agility training equipment with enhanced features is a key factor leading to the growth of this market. To meet end-user requirements, manufacturers of agility training equipment have been compelled to focus on product innovation. Multi-functionality is one of the key features that attracts significant consumer interest. For instance, the Champion Hurdle Cone Set from DICK’S Sporting Goods offers the functions of an agility hurdle, but with the added advantage of height adjustment in accordance with the height of the cone on which it is fitted.
The sports equipment market in developed countries such as the US, Japan, the UK, Germany, South Korea, Australia, and France are nearing maturity. Consequently, these markets are growing at rates slower than that of the global sports equipment market. During the forecast period, the agility training equipment market in Europe will be the largest, especially when compared to other regions. Social media campaigns, sponsorship of sports teams, and celebrity endorsements are the three primary marketing initiatives that help in the strong growth of this market in Europe during the predicted period.
Competitive landscape and key vendors
This market is characterized by the presence of both regional and international vendors and is highly competitive. In addition to conducting sales through brick-and-mortar retail stores, players in this market space also distribute their products through e-retail platforms. Regional vendors that have a significant presence in their respective markets include CHAMPRO Sports and Pivotal 5.
Top vendors in this market are
Overview of the global submarine sensors market
Technavio’s market research analysts predict the global submarine sensors market to grow at a CAGR of more than 3% by 2020. Naval agencies across the world are increasingly using submarines to address their intelligence, surveillance, and reconnaissance (ISR) and communication requirements. This has accelerated the development efforts towards increasing the stealth potential of submarine platforms so that these remain undetectable. The growing investments in acquiring enhanced sensors and combat systems for attack submarines in countries such as the US, Russia, China, India, Iran, Japan, South Korea, and the UK are majorly driving the submarine sensors market. The advances in acoustic sensor technology, which result in the strengthening of the FOAS technology, will positively contribute to the growth of the submarine sensors market globally during the forecast period.
The rising military expenditures in countries such as the US, the UK, Germany, France, and India, owing to the replacement of their existing military submarines have led to the inclusion of high-quality launch systems, missiles, and navigational payloads. The latest development in the market is the launch of Ohio Replacement Submarine, which is scheduled to enter service by 2031. These newer submarines will be integrated with the enhanced version of Virginia LAB sonar systems and BQQ-10 that enables the insertion of commercial-off-the-shelf (COTS) based processors
The defense industry is involved in the research and development, design, and production of military materials, equipment, and facilities. The industry can be divided into two major segments: defense contractors and the arms industry.
Defense contractors are the organizations that provide products and services to military departments and governments. The arms industry produces guns, ammunition, military aircraft, and associated products.
Ongoing budget cuts and funding constraints are expected to be a major challenge for the defense industry over the next couple of years. Several major defense programs have been cancelled and new platforms lack funding support from customers.
Global revenues in the defense sector will likely continue to decrease in 2015 at an estimated rate of 1.3%. This will be offset by greater defense spending in the United Arab Emirates, India, Russia, Japan, and South Korea, as these countries work to equip their militaries with modern defense platforms and technologies.
The world’s biggest defense contractors include BAE Systems, Boeing Defense, General Dynamics, Lockheed Martin, Northrop Grumman, and Raytheon.