PUBLISHER: Inkwood Research | PRODUCT CODE: 1130706
PUBLISHER: Inkwood Research | PRODUCT CODE: 1130706
The Europe surface warships market is projected to register a CAGR of 2.18% over the estimated years 2022 to 2030. The market growth of the region is primarily ascribed to key drivers, such as the rising number of naval programs associated with obsolete fleets, as well as significant investments in research and development activities to integrate naval platforms with network-centric technologies.
The Europe surface warships market growth evaluation comprises the study of the United Kingdom, France, Italy, Sweden, Finland, Greece, Germany, and Rest of Europe. The Swedish Navy has introduced the Visby class of stealth mission vessels. It belongs to one of the most modern Corvette classes established by the Swedish Navy. The project's design phase was launched after the development of the Goteborg as well as the Stockholm-class corvettes. Moreover, the stealth abilities of the warship facilitate the bare minimum of RCS-based detection. These ships are constructed with polyvinyl chloride (PVC) core, carbon fiber, as well as a vinyl laminate as the Material of Construction (MOC).
On the other hand, by the end of 2022, Greece intends to choose a foreign shipyard for collaboration with the nation's domestic ship-building sector on a challenging project in order to produce new frigates for the Hellenic Navy. In this regard, there are numerous contenders, including the United Kingdom's Babcock, the Netherlands' Damen, Italy's Fincantieri, the United States' Lockheed Martin, and others. Hence, these factors are set to fuel the growth of the surface warships market in Europe during the forecast period.
Some of the leading firms operating in the market include: Thales Group, BAE Systems, etc.