Market Share of Naval Gas Turbine Industry
The Naval Gas Turbine Market is moderately consolidated. Some of the most prominent players in the market include Bharat Heavy Electricals Limited, General Electric, IHI Power Systems Co. Ltd, Kawasaki Heavy Industries Ltd, and Mitsubishi Heavy Industries Ltd.
In the current scenario, original equipment manufacturers are now heavily focused on developing advanced gas turbines for naval vessels, contributing to greater overall efficiency. On this note, in April 2023, the US Navy commissioned the USS Santa Barbara (LCS 32), powered by two GE LM2500 gas turbines that include GE's lightweight composite gas turbine enclosure. the composite enclosure resulted in significant weight reduction while also providing ease of access for repairs, reduced working temperatures, and improved sound attenuation. Besides, with the global supply chain being affected due to the ongoing global crisis, especially the Russia-Ukraine conflict, indigenous development and production of naval gas turbines are also projected to grow at a rapid pace during the forecast period. This is clearly evident from the September 2023 decision of the Indian Ministry of Defence (MoD) to expedite the development of indigenous options for marine gas turbines (MGT) that power warships and submarines of the Indian Navy.
Naval Gas Turbine Market Leaders
Bharat Heavy Electricals Limited
General Electric
IHI Power Systems Co. Ltd.
Kawasaki Heavy Industries, Ltd
Mitsubishi Heavy Industries, Ltd.
*Disclaimer: Major Players sorted in no particular order
