DUBLIN–(BUSINESS WIRE)–The “Naval Actuators and Valves Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The Naval Actuator and Valves Market is anticipated to grow at a CAGR of more than 4% during the forecast period.
The emergence of new technologies, such as high-performance radar and long-distance targeting systems, on the naval warfare front, has driven nations to modernize and upgrade their naval capabilities. As actuators and valves form a critical part of all naval vessel subsystems, the induction of new naval vessels would create a parallel demand for actuators and valves to ensure systems performance as per the specifications.
The increasing popularity of advanced integrated combat systems or the use in naval forces is expected to provide new opportunities for the market and is anticipated to have a positive effect on the market in focus in the upcoming period.
Key Market Trends
Increasing Naval Fleet of the Armed Forces
Due to the profound changes in the international strategic landscape, the configuration of the international security system has been undermined by the growing hegemonism, unilateralism, and power politics that has fueled several ongoing global conflicts. Military powerhouses, such as the US, UK, China, and India, have been focused on augmenting their naval firepower and several fleet modernization and procurement contracts are underway to address the evolving threats to their national security.
In March 2019, the US expedited its plans to achieve a proposed 355-ship fleet. The new plans outlined a rough annual expenditure of USD 40 billion for fleet maintenance. According to its 30-year shipbuilding plan, the US envisions to procure 55 new ships to achieve an effective fleet-size of 314 ships by 2024. In the Asia-Pacific region, prominent countries such as China and India are also enhancing their naval fleet size and capabilities to achieve technological superiority over their rival countries.
North America to Dominate the Market During the Forecast Period
The FY2020 budget request of the Pentagon includes provisions for USD 205.6 billion to be allocated to the US Navy. In comparison with the naval budget allocation in FY 2019, the fund allocation witnessed a growth of 5.08%. The market is driven by the procurement of advanced weaponry by the US Navy to achieve military dominance in the region, besides ensuring internal peace and security. The US has invested its vast technological prowess toward the indigenous development of several weapon systems to foster its military prowess over all dominion – land, air, and water.
The emerging security environment, fueled by the growing geopolitical unrest in several countries, is resulting in the growing demand for advanced naval systems. To gain long-term contracts and expand global presence, players are investing significantly toward the procurement of new naval assets.
Furthermore, continuous R&D has been fostering the advancements of accuracy and efficiency of subsystems and other technologies integrated onboard the naval vessels. For instance, in May 2018, Bosch Rexroth AG launched a new subsea hybrid valve actuator that is compatible with Industry 4.0 technology and features a mechanical override that allows valves to be manually opened and closed. The valve is claimed to have an operational life cycle of around 25 years with minimum maintenance.
The naval actuators and valves market is fragmented, with many global players present in the market. Some of the prominent players in the market studied include MOOG Inc., Honeywell International Inc., Rotork plc, Emerson Electric Co., and Curtiss-Wright Corporation, among others.
Key Topics Covered:
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 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Actuator Type
5.3.2 Stainless Steel
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 MOOG Inc.
6.2.2 Honeywell International Inc.
6.2.3 Rotork plc
6.2.4 Emerson Electric Co.
6.2.5 Curtiss-Wright Corporation
6.2.6 Flowserve Corporation
6.2.7 IMI plc
6.2.9 Schlumberger Limited
6.2.10 Wartsila Corporation
6.2.11 AUMA Riester GmbH & Co. KG
6.2.12 Bosch Rexroth AG (Robert Bosch GmbH)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/glckim
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900