Please Wait.....
Report
Europe Naval Vessels - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 72 Pages I Mordor Intelligence
The European naval vessels market was valued at USD 35.43 billion in 2024 and is projected to grow to USD 60.12 billion by 2029, registering a CAGR of 11.15% during the forecast period.
The market is propelled by recent developments of frigates and offshore patrol vessels, owing to their lethality, speed, and maneuverability. The incidents, such as the rise in illegal trespassing of immigrants and drug trafficking in countries such as Italy, Spain, and Albania, have led to the rise in demand for naval vessel developments in this region. Other factors, such as the implementation of the United Nations Convention on the Law of the Sea (UNCLOS) III norms, the need to patrol Exclusive Economic Zones that stretch up to 200 miles beyond national coastlines, and the need for cost-effective naval forces after Cold War era are propelling the market's growth in the region.
The advanced technological developments, such as initiatives to deploy Aegis technology-equipped ships in the European naval fleet and investments in robotics and other digital technology development by local naval shipbuilders, are supporting the growth of the naval vessels market in Europe. However, stringent rules and regulations to reduce emissions and pollution in the ocean are a challenge for naval vessel manufacturers.
Europe Naval Vessels Market Trends
The Frigates Segment is expected to lead the market
Frigates are larger warships compared to corvettes and smaller compared to destroyers. Frigates weigh more than 3,000 tons and have a considerable mix of defense and offensive capabilities. These warships find applications in patrol missions, escorting larger ships to protect sea lines of communication and as an auxiliary component of a strike group. The high lethality and low detection capabilities of the frigates are the major reasons for navies around the world to increasingly procure frigates. This has also resulted in countries increasing their annual defense budget in the procurement of frigates. The replacement programs in various European countries to replace the current aging fleet of combat ships with modern detection and weapon systems equipped with frigates that have anti-ship, anti-submarine, and air-defense capabilities are propelling the demand for frigates. During the forecast period, the majority of frigate procurement is planned in Europe. For instance, in November 2022, the UK Ministry of Defence (MoD) awarded a USD 4.4 billion contract to BAE Systems plc to manufacture the five City Class Type 26 frigates for the Royal Navy in Glasgow. Thus, the frigates segment of the market studied is anticipated to witness steady growth during the forecast period.
United Kingdom to Exhibit Significant Growth During the Forecast Period
The UK is expected to have a notable market share and will exhibit a substantial growth rate, owing to the long coastal line and increased defense procurement. The country has approximately 12,000km of coastal line that needs to be operated. The country experiences border protection issues and crisis management with the increasing number of individuals crossing the English Channel, which has allowed the nation to stay vigilant and keep its naval vessels ready for operations. Due to the increasing causalities in the English Channel, France, and the UK initiated conversations to establish legal migration routes to address the channel crisis. Efforts of the country to modify its existing fleet and increase operational capabilities have led to the UK's procurement of advanced warships. For instance, in December 2021, the Defense Select Committee of the UK announced its plans to increase the number of Royal Navy's frigates and destroyers to more than 19 by 2026 and acquire 20 more frigates and destroyers by 2030. These initiatives were taken post the report published by the UK Defense Committee that the country needs to double the escort fleet and increase the size of attack submarines over the coming years. In August 2022, five Astute-class submarines were commissioned into service, and two were under construction. The entry into service of the last submarine is planned for 2026. Thus, such developments will contribute to the market growth of the UK.
Europe Naval Vessels Industry Overview
The European naval vessels market is consolidated with the presence of prominent players, such as Navantia S.A. SM.E, Naval Group, FINCANTIERI S.p.A., ThyssenKrupp AG, and BAE Systems plc, that are dominating the market. The key players in the market own several shipbuilding yards dedicated to naval vessel developments. The prominent revenue generation strategy of key players is winning contracts and orders from European and foreign governments. The market players are also collaborating to develop advanced naval vessels to cater to the demands of the armed forces. For instance, a consortium led by Fincantieri, Naval Group, and Navantia submitted an industrial proposal to develop a European patrol corvette (EPC) in December 2021. The EPC is expected to replace several classes of ships, from patrol vessels to light frigates, in service of the European countries. Such partnerships are expected to help the players expand their business during the forecast period.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Vessel Type
5.1.1 Submarine
5.1.2 Frigates
5.1.3 Corvettes
5.1.4 Aircraft Carrier
5.1.5 Destroyers
5.1.6 Other Vessel Types
5.2 Geography
5.2.1 Europe
5.2.1.1 United Kingdom
5.2.1.2 France
5.2.1.3 Germany
5.2.1.4 Russia
5.2.1.5 Spain
5.2.1.6 Finland
5.2.1.7 Ukraine
5.2.1.8 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 A&P Group Limited
6.1.2 FINCANTIERI S.p.A.
6.1.3 Naval Group
6.1.4 Fr. Lurssen Werft GmbH & Co. KG
6.1.5 German Naval Yards Kiel GmbH
6.1.6 Dassault Systemes
6.1.7 BAE Systems plc
6.1.8 ThyssenKrupp AG
6.1.9 Navantia S.A. SM.E
6.1.10 JSC United Shipbuilding Corporation
6.1.11 Rauma Marine Constructions
6.1.12 Smart Maritime Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security