Published Date: 28-Feb-2022
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According to a new report Global Shipbuilding Market, published by KBV research, The Global Shipbuilding Market size is expected to reach $176.1 billion by 2027, rising at a market growth of 3.4% CAGR during the forecast period.
The Oil Tankers market is expected to witness a CAGR of 2.7% during (2021 - 2027). Oil tanker ships are developed for transportation of oil and its products in bulk quantity. The increasing demand of export and import of oil from different countries is expected to rise the demand for technologically advanced ships.
The Military market shows high growth rate of 5.5% during (2021 - 2027). Although some of the military ships are operated by cooperatives, individuals, and corporations. Military ships of the country mainly belong to the armed force of the country. Warships are designed in order to fight in battles and thus are faster than merchant ships. These ships only carry weapons for wars.
The Asia Pacific market is the fastest growing region in the Global Shipbuilding Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $61.7 billion by 2027. The Europe market is expected to witness a CAGR of 3% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 3.2% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/shipbuilding-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Huntington Ingalls Industries, Inc., Samsung Heavy Industries Co., Ltd. (Samsung Group), Sumitomo Heavy Industries, Ltd., BAE Systems PLC, Damen Shipyards Group, China State Shipbuilding Corporation, Fincantieri S.p.A (CDP Industria S.p.A.), Korea Shipbuilding & Offshore Engineering Co., Ltd., General Dynamics Corporation, and Mitsubishi Heavy Industries Ltd.
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