Market Share of Military Marine Vessel Engines Industry
The military marine vessel engines market is moderately consolidated due to the presence of a few players holding significant shares in the market. Some of the key players like Rolls-Royce Holdings PLC, General Electric Company, STX Engine Co. Ltd, STEYR MOTORS Betriebs GmbH, and Cummins Inc. Acquisitions of local players and companies in the supply chain may help the players to strengthen their presence in the market further. Moreover, for new players, the investment costs are expected to be high, as the size and complexity of the propellers for naval ships are far more extensive, compared to those for smaller boats.
Investments in R&D also tend to generate high demand for the market. For instance, GE's LM 2500 engines are so designed to operate in both littoral and deep-sea situations effectively. The companies are trying to expand their brand values in the market through joint ventures and new product launches. In September 2022, MAN Energy Solutions SE and Makita Corporation signed a three-year-long deal to provide MAN PrimeServ services on SCR-HP systems used in MAN two-stroke marine engines made by Makita under license.
Military Marine Vessel Engines Market Leaders
Rolls-Royce Holdings plc
General Electric Company
STX Engine Co., Ltd.
STEYR MOTORS Betriebs GmbH
Cummins Inc.
*Disclaimer: Major Players sorted in no particular order
