Market Share of Europe Naval Vessels Industry
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.
Europe Naval Vessels Market Leaders
Naval Group
FINCANTIERI S.p.A.
BAE Systems plc
Navantia S.A. SM.E
ThyssenKrupp AG
*Disclaimer: Major Players sorted in no particular order
