Military Marine Vessel Engines Market by Type and Geography - Forecast and Analysis 2022-2026
| Published: Mar 2022 | Pages: 131 | SKU: IRTNTR72751 |
The military marine vessel engines market share is expected to increase by USD 859.02 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.37%.
This military marine vessel engines market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers military marine vessel engines market segmentation by type (gas turbine, hybrid, diesel, water jet, and nuclear) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The military marine vessel engines market report also offers information on several market vendors, including AB Volvo, Caterpillar Inc., Cummins Inc., Fairbanks Morse LLC, General Electric Co., MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Scania AB, Steyr Motors Betriebs GmbH, and STX Engine Co. Ltd. among others.
What will the Military Marine Vessel Engines Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Military Marine Vessel Engines Market Size for the Forecast Period and Other Important Statistics
Military Marine Vessel Engines Market: Key Drivers, Trends, and Challenges
The growth in demand for naval vessels is notably driving the military marine vessel engines market growth, although factors such as volatility in crude oil and natural gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the military marine vessel engines industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Military Marine Vessel Engines Market Driver
The growth in demand for naval vessels is one of the key drivers supporting the military marine vessel engines market growth. There are many instances globally, including in APAC, where overlapping territorial claims have given rise to border conflicts. Therefore, many countries are planning to use lighter armed vessels, such as OPVs, for maritime security operations. In addition, OPVs are ideal for supporting law enforcement operations, such as those carried out by coast guards. Another important driving factor is growing investments in auxiliaries such as oilers and supply ships to support a country's naval fleet in long-range operations. As the demand for military marine vessels as well as associated auxiliaries increases, there will be a rise in the demand for marine vessel engines during the forecast period.
Key Military Marine Vessel Engines Market Trend
Prospective incorporation of intelligent propulsion systems is one of the key trends contributing to the military marine vessel engines market growth. Engines as well as propellers, which are integral parts of an intelligent propulsion system, are expected to undergo design enhancements based on computational fluid dynamics, power management, engine optimization units, and marine asset intelligence. For instance, Caterpillar offers the multi-engine optimizer (MEO) that utilizes data from detailed fuel maps to determine optimal load points for constant speed or variable speeds and helps the engine operate at the most efficient load point. Such intelligent propulsion systems will help in 5%-20% fuel savings, 5%-50% NOx emission reduction, and approximately 25% overhaul extension. Such technological developments are expected to boost the market growth during the forecast period.
Key Military Marine Vessel Engines Market Challenge
Volatility in crude oil and natural gas prices is one of the factors hindering the military marine vessel engines market growth. The volatility in crude oil and natural gas prices impacts the profits of oil and gas companies, which, in turn, produces a domino effect. Hence, if the selling price declines, production will also decrease. The reduction in production will directly affect the shipping industry, as several vessels such as tankers, very large crude carriers (VLCCs), and floating production storage and offloading (FPSOs) are highly dependent on the transportation of crude oil and natural gas to refineries, end-users, and other stakeholders in the value chain. This will have a negative impact on shipping equipment manufacturers, which will, in turn, hamper the growth of the global military marine vessel engines market.
This military marine vessel engines market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global military marine vessel engines market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the military marine vessel engines market during the forecast period.
Who are the Major Military Marine Vessel Engines Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- AB Volvo
- Caterpillar Inc.
- Cummins Inc.
- Fairbanks Morse LLC
- General Electric Co.
- MAN Energy Solutions SE
- Mitsubishi Heavy Industries Ltd.
- Rolls-Royce Plc
- Scania AB
- Steyr Motors Betriebs GmbH
- STX Engine Co. Ltd.
This statistical study of the military marine vessel engines market encompasses successful business strategies deployed by the key vendors. The military marine vessel engines market is fragmented and the vendors are deploying growth strategies such as quality, features, functionalities, and services to compete in the market.
Product Insights and News
- AB Volvo - Under trucks segment, the market focuses on manufacturing, development and sales of trucks.
- AB Volvo - The company offers military marines under the brand name of Penta.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The military marine vessel engines market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Military Marine Vessel Engines Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the military marine vessel engines market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Military Marine Vessel Engines Market?
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45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for military marine vessel engines market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising tension among neighboring countries will facilitate the military marine vessel engines market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Type Segments in the Military Marine Vessel Engines Market?
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The military marine vessel engines market share growth by the gas turbine segment will be significant during the forecast period. High mechanical reliability and easy operability have made diesel engines the most adopted propulsion and auxiliary systems in the marine industry. However, using diesel as the fuel leads to the emission of harmful substances that are detrimental to the environment. Therefore, the use of gas turbines is gaining popularity, which, in turn, is expected to boost segment growth during the forecast
This report provides an accurate prediction of the contribution of all the segments to the growth of the military marine vessel engines market size and actionable market insights on post COVID-19 impact on each segment.
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Military Marine Vessel Engines Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.37% |
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Market growth 2022-2026 |
$ 859.02 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.68 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB Volvo, Caterpillar Inc., Cummins Inc., Fairbanks Morse LLC, General Electric Co., MAN Energy Solutions SE, Mitsubishi Heavy Industries Ltd., Rolls-Royce Plc, Scania AB, Steyr Motors Betriebs GmbH, and STX Engine Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Military Marine Vessel Engines Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive military marine vessel engines market growth during the next five years
- Precise estimation of the military marine vessel engines market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the military marine vessel engines industry across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of military marine vessel engines market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 24: Chart on Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
- 5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type
- 5.3 Gas turbine - Market size and forecast 2021-2026
- Exhibit 28: Chart on Gas turbine - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Gas turbine - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Gas turbine - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Gas turbine - Year-over-year growth 2021-2026 (%)
- 5.4 Hybrid - Market size and forecast 2021-2026
- Exhibit 32: Chart on Hybrid - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Hybrid - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Hybrid - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Hybrid - Year-over-year growth 2021-2026 (%)
- 5.5 Diesel - Market size and forecast 2021-2026
- Exhibit 36: Chart on Diesel - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Diesel - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Diesel - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Diesel - Year-over-year growth 2021-2026 (%)
- 5.6 Water jet - Market size and forecast 2021-2026
- Exhibit 40: Chart on Water jet - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Water jet - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Water jet - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Water jet - Year-over-year growth 2021-2026 (%)
- 5.7 Nuclear - Market size and forecast 2021-2026
- Exhibit 44: Chart on Nuclear - Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Nuclear - Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Nuclear - Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Nuclear - Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Type
- Exhibit 48: Market opportunity by Type ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 North America - Market size and forecast 2021-2026
- Exhibit 62: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 70: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Japan - Market size and forecast 2021-2026
- Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.11 Germany - Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.12 UK - Market size and forecast 2021-2026
- Exhibit 90: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 AB Volvo
- Exhibit 101: AB Volvo - Overview
- Exhibit 102: AB Volvo - Business segments
- Exhibit 103: AB Volvo - Key news
- Exhibit 104: AB Volvo - Key offerings
- Exhibit 105: AB Volvo - Segment focus
- 10.4 Caterpillar Inc.
- Exhibit 106: Caterpillar Inc. - Overview
- Exhibit 107: Caterpillar Inc. - Business segments
- Exhibit 108: Caterpillar Inc. - Key offerings
- Exhibit 109: Caterpillar Inc. - Segment focus
- 10.5 Cummins Inc.
- Exhibit 110: Cummins Inc. - Overview
- Exhibit 111: Cummins Inc. - Business segments
- Exhibit 112: Cummins Inc. - Key offerings
- Exhibit 113: Cummins Inc. - Segment focus
- 10.6 Fairbanks Morse LLC
- Exhibit 114: Fairbanks Morse LLC - Overview
- Exhibit 115: Fairbanks Morse LLC - Product / Service
- Exhibit 116: Fairbanks Morse LLC - Key offerings
- 10.7 General Electric Co.
- Exhibit 117: General Electric Co. - Overview
- Exhibit 118: General Electric Co. - Business segments
- Exhibit 119: General Electric Co. - Key news
- Exhibit 120: General Electric Co. - Key offerings
- Exhibit 121: General Electric Co. - Segment focus
- 10.8 MAN Energy Solutions SE
- Exhibit 122: MAN Energy Solutions SE - Overview
- Exhibit 123: MAN Energy Solutions SE - Product / Service
- Exhibit 124: MAN Energy Solutions SE - Key offerings
- 10.9 Mitsubishi Heavy Industries Ltd.
- Exhibit 125: Mitsubishi Heavy Industries Ltd. - Overview
- Exhibit 126: Mitsubishi Heavy Industries Ltd. - Business segments
- Exhibit 127: Mitsubishi Heavy Industries Ltd. - Key news
- Exhibit 128: Mitsubishi Heavy Industries Ltd. - Key offerings
- Exhibit 129: Mitsubishi Heavy Industries Ltd. - Segment focus
- 10.10 Rolls-Royce Plc
- Exhibit 130: Rolls-Royce Plc - Overview
- Exhibit 131: Rolls-Royce Plc - Business segments
- Exhibit 132: Rolls-Royce Plc - Key offerings
- Exhibit 133: Rolls-Royce Plc - Segment focus
- 10.11 Steyr Motors Betriebs GmbH
- Exhibit 134: Steyr Motors Betriebs GmbH - Overview
- Exhibit 135: Steyr Motors Betriebs GmbH - Product / Service
- Exhibit 136: Steyr Motors Betriebs GmbH - Key offerings
- 10.12 STX Engine Co. Ltd.
- Exhibit 137: STX Engine Co. Ltd. - Overview
- Exhibit 138: STX Engine Co. Ltd. - Product / Service
- Exhibit 139: STX Engine Co. Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 140: Inclusions checklist
- Exhibit 141: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 142: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 143: Research methodology
- Exhibit 144: Validation techniques employed for market sizing
- Exhibit 145: Information sources
- 11.5 List of abbreviations
- Exhibit 146: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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military marine vessel engines market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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