A Littoral warship is a tiny maneuverable small surface vessel. It is designed for near-shores operations and it is comprised of the propulsion system, radar system, sonar system, and weapons system. The surface combatant is a networked, agile, and stealthy surface combatant capable of defeating anti-access and asymmetric threats. There are two classes of littoral warships freedom class and independence class. The Freedom-class warship has a semi-planning steel monohull with an aluminum superstructure. It has a length 377 ft, with a beam of 57.4 ft, a draft of 12.8 ft, displaces 3,400 long tons, and can achieve 47 knots. The Independence-class warship is a trimaran hull design that provides significantly passenger comfort and stability advantages over both a catamaran and a monohull. It is 418 ft long, with a beam of 104 ft, a draft of 13 ft, displaces 2,377 light tons, and can achieve 50 knots. The lightweight aluminum construction of the independence-class ships makes them more vulnerable to damage than the freedom-class ships
COVID-19 Impact Analysis:
Government across the all the major countries have announced a lockdown due to COVID-19 pandemic resulting in the halt of business. This has led to disruption in manufacturing of littoral warship. Moreover, due to decline in economy focusing on health budget many countries have reduced their defense budget thus affecting the littoral warship market. Furthermore, due lockdown there was unavailability of raw materials required for manufacturing of littoral warship.
Moreover, due to social distancing & travelling restriction norms, there was unavailability of skilled labor required for manufacturing littoral warship. Defense is developing sector which had a slight setback due to the pandemic, but it is expected to recover and drive the growth of littoral warship market post pandemic .
Top Impacting Factors
- Rise in government investment in defense, increase in naval applications, and surge in demand for security & defense drive the 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 warships, and surge in demand for light weight ships act as an opportunity for growth of the market.
Rise in Government Investment in Defense
Navy of a country defines its national strength and capacity to deal with war situations. Furthermore, expanding the naval base helps governments to demonstrate their market control over the regions as well in terms of the market. Littoral warship is employed for operations such as patrol, port inspection, anti-piracy, and partnership-building exercises in order to free up high-end surface combatants for increased combat availability. Moreover, an increase in government expenditure in developing countries defense will drive the growth of the market. For instance, 2021 navy budget of India is $4.4 billion and the U.S. navy budget in 2021 is $211.7 billion. Furthermore, in May 2021, defense corporation
General Dynamics Mission Systems received a potential five-year contract of $79.2 million from the U.S. Navy for services in support of the independence-class littoral warship. Furthermore, in June 2021, ship building company Austal U.S. delivered 14th independence -class littoral warship to U.S. Navy and the company also received a contract of $44 million modification of previous littoral warship. Thus, government investment drive growth of littoral warship market
Key Benefits of the Report:
- This study presents the analytical depiction of the littoral warship 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 littoral warship market.
- The current market is quantitatively analyzed to highlight the growth scenario of the littoral warship market.
- The report provides detailed littoral warship market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Littoral Warship Market Research Report:
- Who are the leading market players active in the littoral warship 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 littoral warship market?
- What are the future projections that would help in taking further strategic steps?
Littoral Warship Market Report Highlights
By Class Type
Key Market Players
Lockheed Martin, Huntington Ingalls Industries, United Shipbuilding, Mazagon Dock Shipbuilders, General Atomics, Fincantieri, DCNS, Northrop Grumman Corporation, Austal USA, BAE Systems Plc.