Market Size of Naval Actuators And Valves Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 3.34 Billion |
Market Size (2029) | USD 4.18 Billion |
CAGR (2024 - 2029) | 4.64 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Naval Actuators And Valves Market Analysis
The Naval Actuators And Valves Market size is estimated at USD 3.34 billion in 2024, and is expected to reach USD 4.18 billion by 2029, growing at a CAGR of 4.64% during the forecast period (2024-2029).
- The emergence of new technologies, such as high-performance radar and long-distance targeting systems, on the naval warfare front has driven nations to modernize and upgrade their naval capabilities. As actuators and valves form a critical part of all naval vessel subsystems, the induction of new naval vessels may create a parallel demand for actuators and valves to ensure systems performance as per the specifications.
- Stringent regulatory policies are expected to restrain the market's growth during the forecast period. The marine industry is heavily regulated, primarily because of the risks associated with marine activities.
- The increasing popularity of advanced integrated combat systems or the use of naval forces is expected to provide new opportunities for the market, which is anticipated to positively affect the market in focus during the upcoming period.
Naval Actuators And Valves Industry Segmentation
An actuator is a device that converts the energy provided by an external source into control motion that can either be linear or rotary, and a valve is a device used for controlling and regulating fluids through pipes and other delivery systems on a naval vessel.
The naval actuators and valves market is segmented based on actuator type, platform, material, and geography. By actuator type, the market is segmented into mechanical, hydraulic, pneumatic, electrical, and hybrid. By platform, the market is divided into defense and commercial. By material, the market is segmented into aluminum, stainless steel, and alloy-based. The report also covers the market sizes and forecasts for the naval actuators and valves market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
Actuator Type | |
Mechanical | |
Hydraulic | |
Pneumatic | |
Electrical | |
Hybrid |
Platform | |
Defense | |
Commercial |
Material | |
Aluminum | |
Stainless Steel | |
Alloy-based |
Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Naval Actuators And Valves Market Size Summary
The naval actuators and valves market is poised for growth, driven by the modernization and upgrade of naval capabilities across various nations. As countries like the United States, China, and India focus on enhancing their naval firepower to address evolving security threats, the demand for actuators and valves is expected to rise. These components are integral to the subsystems of naval vessels, and the induction of new ships necessitates their procurement to ensure optimal performance. However, the market faces challenges from stringent regulatory policies governing the marine industry, which could potentially restrain its growth. Despite these challenges, the increasing adoption of advanced integrated combat systems presents new opportunities for market expansion.
The geopolitical landscape, marked by conflicts and power politics, has led to a surge in military spending, further fueling the demand for naval actuators and valves. The ongoing war between Russia and Ukraine has prompted countries to reassess their defense strategies and increase their military budgets, thereby driving the procurement of advanced weaponry and naval systems. The United States, in particular, is investing heavily in modernizing its naval fleet, with plans to induct new warships and carriers. This expansion is supported by significant budget proposals and partnerships with military allies for advanced weaponry. The market is semi-consolidated, with key players like MOOG Inc., Honeywell International Inc., and Emerson Electric Co. actively investing in research and development to enhance the accuracy and efficiency of naval subsystems.
Naval Actuators And Valves Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Actuator Type
-
2.1.1 Mechanical
-
2.1.2 Hydraulic
-
2.1.3 Pneumatic
-
2.1.4 Electrical
-
2.1.5 Hybrid
-
-
2.2 Platform
-
2.2.1 Defense
-
2.2.2 Commercial
-
-
2.3 Material
-
2.3.1 Aluminum
-
2.3.2 Stainless Steel
-
2.3.3 Alloy-based
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United States
-
2.4.1.2 Canada
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Russia
-
2.4.2.5 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 India
-
2.4.3.2 China
-
2.4.3.3 Japan
-
2.4.3.4 South Korea
-
2.4.3.5 Rest of Asia-Pacific
-
-
2.4.4 Latin America
-
2.4.4.1 Mexico
-
2.4.4.2 Brazil
-
2.4.4.3 Rest of Latin America
-
-
2.4.5 Middle East and Africa
-
2.4.5.1 United Arab Emirates
-
2.4.5.2 Saudi Arabia
-
2.4.5.3 Egypt
-
2.4.5.4 Israel
-
2.4.5.5 Rest of Middle East and Africa
-
-
-
Naval Actuators And Valves Market Size FAQs
How big is the Naval Actuators And Valves Market?
The Naval Actuators And Valves Market size is expected to reach USD 3.34 billion in 2024 and grow at a CAGR of 4.64% to reach USD 4.18 billion by 2029.
What is the current Naval Actuators And Valves Market size?
In 2024, the Naval Actuators And Valves Market size is expected to reach USD 3.34 billion.