Stable economic growth positively influences the sea-based defense equipment industry
The Business Research Company Global Sea-Based Defense Equipment Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, UK, November 25, 2021 /EINPresswire.com/ – The overall economic growth of emerging economies is expected to have a positive impact on the marine defense equipment manufacturing market. Rising disposable income , a result of economic growth, in emerging markets has had a positive impact on the demand for defense equipment. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.4% in 2021. Developed economies are also expected to record stable growth over the forecast period. Stable economic growth is expected to increase investments for the security of the country, thereby driving the market for the manufacture of offshore defense equipment during the forecast period.
Asia-Pacific was the largest region in the global offshore defense equipment market, accounting for 35% of the market in 2020. North America was the second largest region, accounting for 17% of the global defense equipment market at sea. The Middle East was the smallest region in the world market for maritime defense equipment.
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Companies involved in the manufacture of marine defense equipment develop equipment based on artificial intelligence and robotics. Sea-based defense equipment such as submarines and warships implementing these technologies are well equipped to launch an attack with less human intervention, to detect and determine threats. The SwarmDiver USV uses AI to collect data and communicate with each other. They make the quick and accurate decision to organize themselves into groups of various swarm formations and dive simultaneously to collect brief sets of data.
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The global marine defense equipment market size is expected to grow from $ 34.99 billion in 2020 to $ 35.59 billion in 2021 at a compound annual growth rate (CAGR) of 1.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 43.37 billion in 2025 at a CAGR of 5%.
The major players in the global marine defense equipment industry are China Shipbuilding Industry Company, CSRA, Austal, BWX Technologies Inc, CSRA.
The global TBRC Sea Defense Equipment Market report is segmented by Type into Combat Forces Vessels, Submarines (Including Nuclear Submarines), Operation into Autonomous Sea Defense Equipment, Manual.
Global Sea-Based Defense Equipment Market Report 2021 – By Type (Combat Force Vessels, Submarines (Including Nuclear Submarines)), By Operation (Sea-Based Autonomous Defense Equipment, manual), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides an overview of the marine defense equipment market, a forecast of the size and growth of the marine defense equipment market. sea ââdefense for the entire market, sea defense equipment market segments and geographies, sea defense equipment market trends, the drivers of the defense equipment market, constraints, the revenues, profiles and market shares of the main competitors.
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