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Destroyers Market

Destroyers Market

by Technology (Propulsion Type, Catapult System, Fixed Wing Aircraft, Command & Control System, Missile Launching System, Radar System, Radar Absorbent Material, and Others), Application (Defense and War), and Product (Displacement Greater - than or Equal to 8000 MT and Displacement Lesser - than 8000 MT): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14075
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Mar 2023 | 1271 Views
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A destroyer is a fast, maneuverable, long-endurance warship designed to escort larger vessels in a fleet, convoy, or battle group and defend them against powerful short-range attackers. They are the backbone of the navy that leads the navy fleet, and it is the first to receive the blow and respond during an attack. In the line-up or fleet structure number of destroyers surround the aircraft carrier while moving in the water. Furthermore, it is known for its fast responsive capabilities in the subsurface, surface, and air battles. Moreover, a destroyer is a floating military base comprising a fleet of helicopters and missile launching systems, radar- absorbent material, and anti-submarine warfare capabilities. Furthermore, destroyers are equipped with hydrophones and depth charges to protect merchant-ship convoys and battle fleets against submarine attacks. Furthermore, modern destroyers are cable to displace 8,000 tons, are cable of speeds of more than 30 knots, and carry crews of about 300.

COVID-19 Impact Analysis: 
Government across the all the major countries have announced a lockdown because of the COVID 19 pandemic resulting in the halt in various businesses. This has led to disruption in manufacturing of destroyers. Moreover, due to the decline in economy and increasing focus on health budget many countries have reduced their defense budget thus affecting the destroyers market. Furthermore, due lockdown there was raw materials unavailability which is required for manufacturing of destroyers. Furthermore, due to social distancing & travelling restriction norms, there was unavailability of skilled labor which was required for manufacturing of destroyers. Defense is developing sector which had a slight setback due to the pandemic, but it is expected to recover and drive the market growth post pandemic 

Top Impacting Factors 
Rise in government investment in defense of country, increase in demand for maritime border security, and surge in demand for security & defense is expected to drive growth of the market.
High maintenance cost and high capital investment hinder the growth of the market.
Rise in demand for new technology, increase in demand for nuclear powered destroyers, and r surge in demand for light weight ships act as an opportunity for growth of the market.

Market Trends
Rise in Demand for Maritime Border Security 

Rise in border disputes between adjacent countries as well as terrorist operations, has increased the demand for maritime border security. Strengthening the naval base helps governments to demonstrate their authority over the areas as well as in terms of the market. Destroyers are used in the variety of naval operations such as patrolling, small mission, border security, helping neighboring countries, and others. The increasing number of geopolitical issues and growing territorial disputes between various nations are intriguing government organizations to strengthen their naval forces. Moreover, a rise in government investment in strengthening countries defense will drive the growth of the naval market. For instance, navy budget of India in 2021 is $4.4 billion and the navy budget for U.S.in 2021 is $211.7 billion. In 2018, U.S. navy awarded two contracts of $9 billion to defense corporation General Dynamic (GD) Bath Iron Works (BIW) and military ship building company Huntington Ingalls Industries for the procurement of ten DDG-51 Arleigh Burke-class destroyers. Thus, all these factors are expected to drive growth of destroyers market.

Key Benefits of the Report:

  • This study presents the analytical depiction of the destroyers market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the destroyers market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the destroyers market.
  • The report provides detailed destroyers market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions answered in the destroyers market research report:

  • Who are the leading market players active in the destroyers market?
  • What would be the detailed impact of COVID-19 on the market?
  • What are the current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the destroyers market?
  • What are the future projections that would help in taking further strategic steps? 

Destroyers Market Report Highlights

Aspects Details
By Technology
  • Propulsion Type
  • Catapult System
  • Fixed Wing Aircraft
  • Command & Control System
  • Missile Launching System
  • Radar System
  • Radar Absorbent Material
  • Others
By Application
  • Defense
  • War
By Product
  • Displacement Greater - than or Equal to 8000 MT
  • Displacement Lesser – than 8000 MT
By Region
  • North America  (U.S, canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players BAE Systems Plc., DCNS, Fincantieri, Huntington Ingalls Industries, Northrop Grumman Corporation, Lockheed Martin, Mazagon Dock Shipbuilders, Austal USA, General Atomics, United Shipbuilding

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