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Navy/USMC

Global Market For Naval Vessels Expected To Grow In Next Decade

Defense Daily Staff

Thursday, June 19th, 2014

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Global Market For Naval Vessels Expected To Grow In Next Decade

An artist rendering of the Zumwalt class destroyer DDG 1000, a new class of multi-mission U.S. Navy surface combatant ship. Photo: U.S. Navy.

The global market for naval vessels is expected to grow at an annualized rate of two percent during the next 10 years, with North America holding the largest share of the market as the U.S. Navy recapitalizes its fleet, according to a June study published by Strategic Defence Intelligence. The study predicted the compound annual growth rate of 2.16 percent from 2014 to 2024. It said North America will represent the largest market followed by the Asia-Pacific, with the two…

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