The increasing threat of terrorism and border issues have led the focus of countries to marine vessels and naval ships. The naval fleet of countries like China, India, North Korea, and others have been increasing with significant growth over the past years to strengthen their military power. Currently, North Korea has the highest number of naval vessels and it is further expanding its fleet by procurements of vessels that have advanced combat and propulsions system. This increasing naval procurement generates demand for vessel engines thereby driving the military marine vessel engine market. Also due to increasing damages of engines in the naval fleet (in the test phases), the procurements of engines is increasing, which is also driving this market. Military Marine Vessel Engines Market is estimated to grow at a CAGR of over 3%.
Growing Adaptations of Hybrid Turbochargers and Electric Propulsion Systems
With the increasing investments in research and development, advanced electric propulsion systems and hybrid turbochargers have been developed that help to reduce the operating costs, fuel consumption and harmful emissions from the ship. Some of the advantages of hybrid propulsion systems over conventional systems are improved redundancy, a large variation of operation modes appropriate for a flexible power demand, optimized fuel economy, reduction in emission due to reduced fuel consumption and more flexible ship design among others. Recently, the Republic of Korea Navy took the delivery of first of eight Daegu-class frigates that are manufactured by Daewoo Shipbuilding & Marine Engineering and powered by Rolls-Royce. FFX-II is the first South Korean warship that has DRS Hybrid Electric Drive system and is coupled with Rolls-Royce MT-30 gas turbine engine for CODLAG integrated full-electric propulsion.
Gas Turbine Propulsion
Based on Propulsion System, the market is segmented into diesel propulsion, water-jet propulsion, gas turbine propulsion, and others. Major changes in gas turbine design, particularly in the design and complexity of engine control systems, have led to the need for systems-oriented treatment of gas turbine propulsion. By integrating all of the systems and subsystems associated with gas turbine engines, these are commonly deployed in aircraft and marine applications. US Navy plans to purchase new Rolls Royce-built MT30 marine gas turbine engine for Zumwalt-class destroyer. This decision was taken after the detecting the damage that has happened during the test in post-cleaning inspection in February 2018.
For maintaining the military supremacy and national security, the military marine vessel procurement in the US has been increasing over the past few years. The increase in naval vessels is expected to create an impact on the military marine vessel engines market during the forecast period. The Asia Pacific region is poised to have the highest growth rate during the forecast period due increasing procurements and development of advanced propulsions systems by countries like China, India and South Korea.
Source: Mordor Intelligence Analysis
Source: Mordor Intelligence Analysis
Cummins Inc., General Electric Company, STX Engine Co Ltd, Rolls-Royce Holding PLC, and Steyr Motors Co Ltd among others.
May 2018: Japan Maritime Self Defence Force (JMSDF) selected Rolls-Royce to supply MT30 gas turbine to power a new class of frigates. The MT30 is a marine gas turbine that delivers high power in minimum space, whilst meeting the operational power demands of the future.
Jan 2018: Russian gas turbine manufacturer, NPO-Saturn has started serial production of marine gas turbines for use in Russian naval vessel construction that is to be used in Russian Project 11356 frigates.
Jan 2018: GE’s Marine Solutions has shipped a LM2500 marine gas turbine propulsion module to power the US Navy’s 75th DDG Arleigh Burke-class destroyer. Ingalls Shipbuilding will construct this new destroyer along with US Navy Flight III upgrades incorporated. Each DDG destroyer features four GE LM2500 marine gas turbines in a Combined Gas turbine And Gas turbine (COGAG) configuration.
Base Year for Estimation
2018 – 2023
Revenue in USD billion & CAGR from 2018 to 2023
North America, South America, Middle East & Africa, Asia Pacific and Europe
Revenue forecast, market share analysis, and market dynamics
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1.1 Scope of Study
1.2 Market Definition
1.3 Executive Summary
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. MARKET INSIGHTS
3.1 Current Market Scenario
3.2 Technology Trends
3.3 Industry Attractiveness - Porter's Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Competitive Rivalry within the industry
4. MARKET DYNAMICS
5. MILITARY MARINE VESSEL ENGINES MARKET - SEGMENTED BY VESSEL TYPE
5.1 Amphibious Warfare Ships
6. MILITARY MARINE VESSEL ENGINES MARKET - SEGMENTED BY PROPULSION SYSTEM
6.1 Diesel Propulsion
6.2 Water-Jet Propulsion
6.3 Gas Turbine Propulsion
6.4 Hybrid Propulsion
7. MILITARY MARINE VESSEL ENGINES MARKET - SEGMENTED BY GEOGRAPHY
7.1 North America
7.1.1 United States
7.1.3 Rest of North America
7.2.1 United Kingdom
7.2.6 Rest of Europe
7.3 Asia Pacific
7.3.5 Rest of Asia Pacific
7.4 South America
7.4.2 Rest of South America
7.5 Middle-East and Africa
7.5.1 Saudi Arabia
7.5.4 Rest of Middle-East and Africa
8. COMPETITIVE LANDSCAPE
8.2 Market Share Analysis
9. COMPANY PROFILES
9.1 Cummins Inc.
9.2 General Electric Company
9.3 Fairbanks Morse
9.4 Rolls-Royce Holding PLC
9.5 STX Engine Co Ltd
9.6 Steyr Motors Co Ltd
9.7 MAN Energy Solutions (Man SE)
9.8 Zorya-Mashproyekt (Ukroboronprom)
9.9 NPO-Saturn (Rostec)
10. FUTURE MARKET OUTLOOK