Naval Vessels Maintenance, Repair, and Overhaul (MRO) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, India, Russia, UK - Size and Forecast 2024-2028

Published: Oct 2023 Pages: 186 SKU: IRTNTR45495

Naval Vessels Maintenance, Repair, and Overhaul (MRO) Market Forecast 2024-2028

The Naval Vessels Maintenance, Repair, and Overhaul (MRO) Market size is estimated to grow by USD 6.88 Billion at a CAGR of 6.89% from 2023 to 2028. Increasing global focus on keeping naval fleets combat-ready is driving the market, fueled by maritime disputes and regional rivalries. This leads to development and acquisition of naval vessels, boosting market growth.

Meanwhile, growing MRO costs have spurred Asia's emergence as a naval vessel maintenance hub, with labor-intensive MRO services prompting investments in shipyards and procurement projects. China, India, and Japan are key players, with investments in Bohai Shipyard and other infrastructure. These trends are positively impacting the market and driving forecasted growth.

What will be the Size of the Naval Vessels MRO Market During the Forecast Period?

Market Forecast 2024-2028

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Market Segmentation by Type, Vessel Orientation, and Geography

Type Segment Analysis:

The dry dock MRO segment is estimated to witness significant growth during the forecast period. Dry dock naval MRO activities are important for the successful operation, safety, and longevity of naval vessels, such as aircraft carriers and destroyers, as well as submarines. In addition, when a vessel is dry-docked, it can undergo extensive inspections, repairs, and upgrades, which would otherwise be difficult to accomplish while in the water.

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The dry dock MRO segment was the largest segment and was valued at USD 5.19 billion in 2018. Moreover, the primary objective of dry dock MRO is to maintain the seaworthiness of naval vessels throughout their operational lifetime. This comprises a variety of tasks, including maintenance of the hull, painting of the hull, repair of propellers and rudder, replacement of equipment, system modifications, and more. Furthermore, besides the standard maintenance tasks, dry dock periods offer an opportunity to implement technological progress, enhance operational performance, and meet regulatory requirements. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Vessel Orientation Segment Analysis:

Based on vessel orientation, the segment is classified into aircraft carriers, submarines, destroyers, frigates, amphibious vessels, and others. The aircraft carriers segment is a dominating segment of the market, comprising a single type of vessel. For instance,  as of October 2023, about 47 active aircraft carriers were operated globally by about 14 navies. In addition, the US has 11 large nuclear-powered carriers, which have the capability to carry approximately 80 fighter jets each. Furthermore, most of the aircraft carriers (excluding light carriers) can carry at least 50 fixed-wing combat aircraft. Therefore, an aircraft carrier is much bigger than an amphibious assault ship or a destroyer. Hence, the cost of maintenance, repair, and overhaul of an aircraft carrier is high, which is expected to support the growth of the market during the forecast period. 

Regional Analysis

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APAC is estimated to contribute 42% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Another region offering significant growth opportunities to market players is North America. Some of the main naval forces in North America include the US Navy, Royal Canadian Navy, and Mexican Navy. In addition, the US Navy has a very large naval fleet comprising 11 nuclear-powered aircraft carriers. Most of these aircraft carriers, except one (USS Gerald R. Ford), were commissioned between 1975 (USS Nimitz) and 2009 (USS George H.W. Bush).

Therefore, aircraft carriers frequently require maintenance and repair services and routinely undergo modernization programs. Furthermore, the US is the only country in the world that has a very large deployment of naval vessels in foreign countries. For example, NSA Bahrain in Bahrain and NSA Naples in Italy serve as homeports for the US Fifth Fleet and the US Sixth Fleet, respectively. Hence, such factors are driving the market growth in North America during the forecast period.

Market Dynamics and Customer Landscape

The Naval Vessels MRO (Maintenance, Repair, and Overhaul) Market is influenced by various factors, with feasibility studies and advancements in the Telecommunications industry playing crucial roles. Network infrastructure and Communication technology are pivotal in ensuring seamless operations and connectivity onboard naval vessels. Emerging technologies such as Voice over IP (VoIP) and Multimedia services enhance communication capabilities, while Mobile broadband and LTE networks provide high-speed data transfer.

Trends indicate a shift towards 5G networks and Unified communications, enabling faster and more efficient data exchange. However, challenges exist in integrating these technologies into existing network architecture and implementing IMS solutions for improved performance. VoLTE is also gaining traction, promising enhanced voice quality and reliability.

Telecom operators play a significant role in providing and maintaining these services, necessitating collaboration with naval forces. Overall, the Naval Vessels MRO Market continues to evolve, driven by advancements in communication technologies and the need for efficient network management onboard naval vessels. 

Key Market Driver

Increasing emphasis on maintaining the combat readiness of naval fleets is significantly driving the global geopolitical landscape. This is evident through various maritime disputes, territorial contentions, and regional as well as global rivalries. For instance, numerous nations advocate for freedom of navigation operations (FONOPs) in the South China Sea, while disputes over maritime claims persist in the East China Sea. Additionally, India and Pakistan have long been embroiled in a territorial dispute over the Jammu and Kashmir region since gaining independence.

This geopolitical scenario is fostering the development and procurement of naval vessels, including submarines, aircraft carriers, and destroyers, especially among nations directly involved in rivalries or conflicts. For example, Japan unveiled its inaugural Soryu-class submarine equipped with a lithium-ion battery in February 2022 to counter the escalating intrusions by the Chinese Navy into its territorial waters. Consequently, these dynamics are positively influencing the market and are anticipated to propel its growth throughout the forecast period.

Significant Market Trends

Growing MRO costs is the key trend driving significant shifts in the naval vessel maintenance landscape. As MRO services predominantly rely on labor-intensive processes, labor costs emerge as a substantial component during scheduled maintenance activities for naval vessels. Consequently, the escalating labor expenses are catalyzing the emergence of developing countries in Asia, such as Sri Lanka, India, and Vietnam, as favored destinations for naval vessel maintenance.

Moreover, countries like China, India, and Japan are actively investing in expanding their shipyard capacities and engaging in global shipbuilding projects. Notably, China's focus on enlarging its Bohai Shipyard is poised to enhance its capabilities in future submarine construction endeavors. These strategic investments are reshaping the market dynamics and are expected to drive market growth in the foreseeable future.

Major Market Challenge

The challenge lies in time and cost overruns within Marine Rotating Systems (MRO) contracts, posing a significant obstacle to the global market. These delays and cost escalations have led to a depletion in available resources, thereby impacting the operational readiness of naval forces, service providers, and imposing budgetary constraints.

Furthermore, the intricacies inherent in maritime maintenance and repair (MRO) contracts contribute substantially to these challenges. Naval vessels demand specialized and intricate maintenance and repair services, necessitating a diverse array of technical expertise and equipment. Moreover, the execution of MRO projects often encounters time-consuming processes and unforeseen contingencies, leading to both delays and heightened costs. These factors collectively cast a negative influence on the market landscape, potentially hindering market growth throughout the forecast period.

Who are the Major Naval Vessels MRO Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Austal Ltd: The company offers naval vessels MRO such as fast, cost-effective general refit and repair solutions for high-speed aluminum vessels worldwide.

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

Abu Dhabi Ship Building PJSC, Babcock International Group Plc, BAE Systems Plc, Fincantieri Spa, General Dynamics Corp., Hanwha Corp., Huntington Ingalls Industries Inc., Kongsberg Gruppen ASA, Larsen and Toubro Ltd., Lockheed Martin Corp., Naval Group, Northrop Grumman Corp., Raytheon Technologies Corp., Rhoads Industries, Rolls Royce Holdings Plc, Saab AB, Teledyne Technologies Inc., Thales Group, and thyssenkrupp AG.

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Type Outlook
    • Dry dock MRO
    • Component MRO
    • Engine MRO
    • Modification
  • Vessel Orientation Outlook
    • Aircraft carriers
    • Submarines
    • Destroyers
    • Frigates
    • Amphibious vessels and others
  • Geography Outlook
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The market is influenced by military budgets and fleet modernization plans of governments aiming to enhance the capabilities of their navy fleets. These plans often include project executions to integrate advanced technologies and conduct necessary checks on existing fleets.

Governments invest in mid-life extension programs for warships to improve their longevity and reduce operating costs. This includes upgrading to advanced equipment and implementing efficient in-service maintenance and overhaul plans for various weapon systems. Companies like MBDA UK play a significant role in supplying advanced naval systems such as the Common Anti-Air Modular Missile and the Sea Ceptor for vessels like the Type 45 destroyers. These systems, including the Sea Viper air defense missiles, are crucial for the command and control (C2) system of air warfare destroyers like the Horizon class. International collaborations such as Naviris and organizations like OCCAR facilitate the feasibility studies and implementation of modernization projects. These efforts extend to allied vessels like the DDG-51 Arleigh Burke-class Flight IIA destroyers, which require upgrades in sensors, electronics, and weapons to meet evolving threats.

Naval Vessels MRO Market Scope

Report Coverage

Details

Page number

186

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.89%

Market Growth 2024-2028

USD 6.88 Billion

Market structure

Fragmented

YoY growth 2023-2024(%)

6.22

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, India, Russia, and UK

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Abu Dhabi Ship Building PJSC, Austal Ltd., Babcock International Group Plc, BAE Systems Plc, Fincantieri Spa, General Dynamics Corp., Hanwha Corp., Huntington Ingalls Industries Inc., Kongsberg Gruppen ASA, Larsen and Toubro Ltd., Lockheed Martin Corp., Naval Group, Northrop Grumman Corp., Raytheon Technologies Corp., Rhoads Industries, Rolls Royce Holdings Plc, Saab AB, Teledyne Technologies Inc., Thales Group, and thyssenkrupp AG

Market dynamics

Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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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 Market Segmentation by Vessel Orientation
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global naval vessels MRO market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global naval vessels mro market 2018 - 2022 ($ million)
    • 4.2 Type Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Type Segment 2018 - 2022 ($ million)
    • 4.3 Vessel Orientation Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Vessel Orientation Segment 2018 - 2022 ($ million)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ million)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Dry dock MRO - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Dry dock MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 35: Data Table on Dry dock MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Chart on Dry dock MRO - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Dry dock MRO - Year-over-year growth 2023-2028 (%)
    • 6.4 Component MRO - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Component MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 39: Data Table on Component MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Chart on Component MRO - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Component MRO - Year-over-year growth 2023-2028 (%)
    • 6.5 Engine MRO - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Engine MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 43: Data Table on Engine MRO - Market size and forecast 2023-2028 ($ million)
      • Exhibit 44: Chart on Engine MRO - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Engine MRO - Year-over-year growth 2023-2028 (%)
    • 6.6 Modification - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Modification - Market size and forecast 2023-2028 ($ million)
      • Exhibit 47: Data Table on Modification - Market size and forecast 2023-2028 ($ million)
      • Exhibit 48: Chart on Modification - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Modification - Year-over-year growth 2023-2028 (%)
    • 6.7 Market opportunity by Type
      • Exhibit 50: Market opportunity by Type ($ million)
      • Exhibit 51: Data Table on Market opportunity by Type ($ million)

    7 Market Segmentation by Vessel Orientation

    • 7.1 Market segments
      • Exhibit 52: Chart on Market Segmentation by Vessel Orientation - Market share 2023-2028 (%)
      • Exhibit 53: Data Table on Market Segmentation by Vessel Orientation - Market share 2023-2028 (%)
    • 7.2 Comparison by Market Segmentation by Vessel Orientation
      • Exhibit 54: Chart on Comparison by Market Segmentation by Vessel Orientation
      • Exhibit 55: Data Table on Comparison by Market Segmentation by Vessel Orientation
    • 7.3 Aircraft carriers - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Aircraft carriers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 57: Data Table on Aircraft carriers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 58: Chart on Aircraft carriers - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Aircraft carriers - Year-over-year growth 2023-2028 (%)
    • 7.4 Submarines - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Submarines - Market size and forecast 2023-2028 ($ million)
      • Exhibit 61: Data Table on Submarines - Market size and forecast 2023-2028 ($ million)
      • Exhibit 62: Chart on Submarines - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Submarines - Year-over-year growth 2023-2028 (%)
    • 7.5 Destroyers - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Destroyers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 65: Data Table on Destroyers - Market size and forecast 2023-2028 ($ million)
      • Exhibit 66: Chart on Destroyers - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Destroyers - Year-over-year growth 2023-2028 (%)
    • 7.6 Frigates - Market size and forecast 2023-2028
      • Exhibit 68: Chart on Frigates - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Data Table on Frigates - Market size and forecast 2023-2028 ($ million)
      • Exhibit 70: Chart on Frigates - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on Frigates - Year-over-year growth 2023-2028 (%)
    • 7.7 Amphibious vessels and others - Market size and forecast 2023-2028
      • Exhibit 72: Chart on Amphibious vessels and others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Data Table on Amphibious vessels and others - Market size and forecast 2023-2028 ($ million)
      • Exhibit 74: Chart on Amphibious vessels and others - Year-over-year growth 2023-2028 (%)
      • Exhibit 75: Data Table on Amphibious vessels and others - Year-over-year growth 2023-2028 (%)
    • 7.8 Market opportunity by Market Segmentation by Vessel Orientation
      • Exhibit 76: Market opportunity by Market Segmentation by Vessel Orientation ($ million)
      • Exhibit 77: Data Table on Market opportunity by Market Segmentation by Vessel Orientation ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 79: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 80: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 81: Chart on Geographic comparison
      • Exhibit 82: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2023-2028
      • Exhibit 83: Chart on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 84: Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 85: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.4 APAC - Market size and forecast 2023-2028
      • Exhibit 87: Chart on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 88: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 89: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.5 Europe - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 92: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 93: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 95: Chart on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 96: Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 97: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 100: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 101: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 US - Market size and forecast 2023-2028
      • Exhibit 103: Chart on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 104: Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 105: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.9 China - Market size and forecast 2023-2028
      • Exhibit 107: Chart on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 108: Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 109: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.10 Russia - Market size and forecast 2023-2028
      • Exhibit 111: Chart on Russia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 112: Data Table on Russia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 113: Chart on Russia - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on Russia - Year-over-year growth 2023-2028 (%)
    • 9.11 UK - Market size and forecast 2023-2028
      • Exhibit 115: Chart on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 116: Data Table on UK - Market size and forecast 2023-2028 ($ million)
      • Exhibit 117: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.12 India - Market size and forecast 2023-2028
      • Exhibit 119: Chart on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 120: Data Table on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 121: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 122: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 123: Market opportunity by geography ($ million)
      • Exhibit 124: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 125: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 126: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 127: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 128: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 129: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 130: Matrix on vendor position and classification
            • 12.3 Austal Ltd.
              • Exhibit 131: Austal Ltd. - Overview
              • Exhibit 132: Austal Ltd. - Business segments
              • Exhibit 133: Austal Ltd. - Key offerings
              • Exhibit 134: Austal Ltd. - Segment focus
            • 12.4 Babcock International Group Plc
              • Exhibit 135: Babcock International Group Plc - Overview
              • Exhibit 136: Babcock International Group Plc - Business segments
              • Exhibit 137: Babcock International Group Plc - Key offerings
              • Exhibit 138: Babcock International Group Plc - Segment focus
            • 12.5 BAE Systems Plc
              • Exhibit 139: BAE Systems Plc - Overview
              • Exhibit 140: BAE Systems Plc - Business segments
              • Exhibit 141: BAE Systems Plc - Key offerings
              • Exhibit 142: BAE Systems Plc - Segment focus
            • 12.6 Fincantieri Spa
              • Exhibit 143: Fincantieri Spa - Overview
              • Exhibit 144: Fincantieri Spa - Business segments
              • Exhibit 145: Fincantieri Spa - Key offerings
              • Exhibit 146: Fincantieri Spa - Segment focus
            • 12.7 General Dynamics Corp.
              • Exhibit 147: General Dynamics Corp. - Overview
              • Exhibit 148: General Dynamics Corp. - Business segments
              • Exhibit 149: General Dynamics Corp. - Key news
              • Exhibit 150: General Dynamics Corp. - Key offerings
              • Exhibit 151: General Dynamics Corp. - Segment focus
            • 12.8 Hanwha Corp.
              • Exhibit 152: Hanwha Corp. - Overview
              • Exhibit 153: Hanwha Corp. - Product / Service
              • Exhibit 154: Hanwha Corp. - Key news
              • Exhibit 155: Hanwha Corp. - Key offerings
            • 12.9 Huntington Ingalls Industries Inc.
              • Exhibit 156: Huntington Ingalls Industries Inc. - Overview
              • Exhibit 157: Huntington Ingalls Industries Inc. - Business segments
              • Exhibit 158: Huntington Ingalls Industries Inc. - Key offerings
              • Exhibit 159: Huntington Ingalls Industries Inc. - Segment focus
            • 12.10 Kongsberg Gruppen ASA
              • Exhibit 160: Kongsberg Gruppen ASA - Overview
              • Exhibit 161: Kongsberg Gruppen ASA - Business segments
              • Exhibit 162: Kongsberg Gruppen ASA - Key news
              • Exhibit 163: Kongsberg Gruppen ASA - Key offerings
              • Exhibit 164: Kongsberg Gruppen ASA - Segment focus
            • 12.11 Lockheed Martin Corp.
              • Exhibit 165: Lockheed Martin Corp. - Overview
              • Exhibit 166: Lockheed Martin Corp. - Business segments
              • Exhibit 167: Lockheed Martin Corp. - Key news
              • Exhibit 168: Lockheed Martin Corp. - Key offerings
              • Exhibit 169: Lockheed Martin Corp. - Segment focus
            • 12.12 Naval Group
              • Exhibit 170: Naval Group - Overview
              • Exhibit 171: Naval Group - Product / Service
              • Exhibit 172: Naval Group - Key offerings
            • 12.13 Northrop Grumman Corp.
              • Exhibit 173: Northrop Grumman Corp. - Overview
              • Exhibit 174: Northrop Grumman Corp. - Business segments
              • Exhibit 175: Northrop Grumman Corp. - Key news
              • Exhibit 176: Northrop Grumman Corp. - Key offerings
              • Exhibit 177: Northrop Grumman Corp. - Segment focus
            • 12.14 Raytheon Technologies Corp.
              • Exhibit 178: Raytheon Technologies Corp. - Overview
              • Exhibit 179: Raytheon Technologies Corp. - Business segments
              • Exhibit 180: Raytheon Technologies Corp. - Key news
              • Exhibit 181: Raytheon Technologies Corp. - Key offerings
              • Exhibit 182: Raytheon Technologies Corp. - Segment focus
            • 12.15 Saab AB
              • Exhibit 183: Saab AB - Overview
              • Exhibit 184: Saab AB - Business segments
              • Exhibit 185: Saab AB - Key news
              • Exhibit 186: Saab AB - Key offerings
              • Exhibit 187: Saab AB - Segment focus
            • 12.16 Teledyne Technologies Inc.
              • Exhibit 188: Teledyne Technologies Inc. - Overview
              • Exhibit 189: Teledyne Technologies Inc. - Business segments
              • Exhibit 190: Teledyne Technologies Inc. - Key news
              • Exhibit 191: Teledyne Technologies Inc. - Key offerings
              • Exhibit 192: Teledyne Technologies Inc. - Segment focus
            • 12.17 thyssenkrupp AG
              • Exhibit 193: thyssenkrupp AG - Overview
              • Exhibit 194: thyssenkrupp AG - Business segments
              • Exhibit 195: thyssenkrupp AG - Key offerings
              • Exhibit 196: thyssenkrupp AG - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 197: Inclusions checklist
                • Exhibit 198: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 199: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 200: Research methodology
                • Exhibit 201: Validation techniques employed for market sizing
                • Exhibit 202: Information sources
              • 13.5 List of abbreviations
                • Exhibit 203: 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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              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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              • Details on the market shares of various regions
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