What is Military Frigates Market?
Military frigates are any several types of warship which are used for ships of various sizes and roles over the last few centuries. The frigate is considered as the vessels that are intermediate between corvettes and destroyers. It is used for protecting merchant-marine ships, primarily as anti-submarine warfare combatants for amphibious expeditionary forces.
The market study is being classified by Type (Type 31 Frigate, Type 23 Frigate, Type 26 Frigate, Type 21 Frigate and Others), by Application (Patrol, Escort and Others) and major geographies with country level break-up.
Huntington Ingalls Industries (United States), General Dynamics Corporation (United States), Fincantieri S.p.A. (Italy), JSC United Shipbuilding Corporation (Russia), Lockheed Martin Corporation (United States), Naval Group (France), The Damen Group (Netherland), Lurssen Werft GmbH (Germany), Austal (Australia) and China State Shipbuilding Corporation (China) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Military Frigates market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Military Frigates market by Type, Application and Region.
On the basis of geography, the market of Military Frigates has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Defense Expenditure on Military Simulation and Training
- Increasing Usage of Military Fridges in Various Application
Market Trend
- Technology Advancement and Innovation in the Field of Military Training
Restraints
- Availability of substitute such as Destroyers
- Stringent Government Rules and Regulations regarding Frigate
Opportunities
- Government Initiative to Promote Frigates Market
- Growing Demand from Emerging Market such as China, India and Others
Challenges
- Low Adoption Rate in Under Developing Countries
In June 2018, the Government of Australia has announced for more than USD 26 Billion frigate contract. Hence, this announcement are projected to drive the global military frigates market over the forecast period.
According to the Federation of American Scientists (FAS), “The Navy stated that it is purchasing the quantity of mission systems and packages needed for system integration, crew training, developmental testing, operational testing, and LCS deployments. The packages have all been demonstrated in a relevant environment prior to integration. The Navy is purchasing the systems in accordance with DOD regulations”. Hence, it may acts as hamper for market growth.
Key Target Audience
Military Frigate manufacturers, Regulatory bodies, Intermediary suppliers and End Users