Naval Ship Propeller Market Growth, Trends, and Oppotunities 2031

MARKET OVERVIEW

A propeller contains rotating blades and produce thrust through these rotating blades. A marine propeller is made up of sections of helicoidal surfaces which act together screwing through the water. The number of blades in propeller decides the speed of ship. The more the blades present in the propeller the more is the speed. However, the decisions concerning number of blades in the propeller are influenced to a great extent by the need to minimize the vibration caused in the propeller.

MARKET SCOPE

The "Global Naval Ship Propeller Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the naval ship propeller market with detailed market segmentation by propeller type, application, and geography. The report provides key statistics on the market status of the leading naval ship propeller market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of propeller type, the market is segmented as fixed pitch propeller, controllable pitch propeller and others.
  
•   Based on application, the market is segmented into merchant ships, naval ships, recreational boats and others.
  

MARKET DYNAMICS

Drivers:

•   Fixed pitch propellers are robust and reliable, as the system does not incorporate any mechanical and hydraulic subsystems as in the controlled pitch propellers.
  
•   Moreover, their manufacturing, installation, and operational costs are lower than the other types of propellers. Thus, they are now widely being used in naval ships.
  
•   The high growth rate of the segment is attributed to its benefits, such as higher propulsion efficiency, better maneuverability, less wear and tear of the blades, and significant NVH performance, as compared to others. Thus, they are now being adopted slowly, and thereby their revenue share is expected to grow during the forecast period.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The naval ship propeller market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the naval ship propeller market.

IMPACT OF COVID-19 ON NAVAL SHIP PROPELLER MARKET

The COVID-19 outbreak has hampered the expansion of the marine propulsion engine business, resulting in ongoing lockdowns and a global economic slump. The impact on marine engines will be seen most acutely in the immediate future through supply chains. However, as restrictions eased following the pandemic, the market is expected to gain traction during the forecast period. Almost 90% of world trade is conducted by sea, and covid restrictions have had a substantial impact on this. Reduced maritime activity resulted in fewer new vessel orders.

MARKET PLAYERS

The report covers key developments in the naval ship propeller market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from naval ship propeller market are anticipated to lucrative growth opportunities in the future with the rising demand for naval ship propeller in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the naval ship propeller market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Kongsberg (Rolls-Royce Holding PLC)
  
•   MAN Energy Solutions
  
•   VEEM Propellers
  
•   Andritz AG
  
•   Mecklenburger Metallguss GmbH
  
•   Bruntons Propellers Ltd
  
•   Schottel Group
  
•   Michigan Wheel
  
•   Caterpillar
  
•   Wartsila Corporation
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Naval Ship Propeller Report Scope