Technavio has announced the top five leading vendors in their recentglobal fast attack craft market report until 2021. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170119005425/en/
Technavio has published a new report on the global fast attack craft (FAC) market from 2017-2021. (Graphic: Business Wire)
“The market size of fast attack crafts is expected to reach USD 3.28 billion by 2021, mainly driven by the increased emphasis on maritime security. Governments are investing more to combat maritime threats, and major defense contractors are enhancing or modernizing the existing naval vessels to cater to the global defense and security needs,” says Moutushi Saha, one of the lead analysts at Technavio for defense research.
Growing development of ship-based missiles is another important driver of the fast attack craft market. Due to budgetary constraints, several nations are incorporating missile boats or torpedo boats as they are cost effective, swift, and comes with adequate firepower. When these boats are equipped with guided anti-ship missiles, they become a formidable addition to the security forces.
Competitive vendor landscape
The global fast attack craft market is characterized by an eclectic combination of many global, regional, and local players. In-house manufacturing capabilities, global footprint network, product offerings, R&D investments, and a strong client base are some of the key factors that determine the success of a vendor in the extremely competitive market space. The vendors compete based on cost, product quality, reliability, and aftermarket service. Additionally, international vendors are expected to increase their global foothold through strategic mergers and acquisitions during the forecast period.
Request a sample report: http://www.technavio.com/request-a-sample?report=55842
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Top five vendors in the global fast attack craft market:
BAE Systems
BAE Systems operates in 40 countries globally and is headquartered in London, UK. In the fast craft market, the company designed and developed HS Ritsos Super Vita-class FAC and Roussen-class FAC for the Hellenic Navy, Greece.
Damen Shipyards Group
The Damen Shipyards Group engages in the design, manufacturing, and marketing of tugs and workboats, high-speed craft, ferries, offshore vessels, pontoons and barges, shipping vessels, naval vessels, fishing vessels, dredging and equipment, yachting, and ballast water treatment products globally. The company designed and developed FAC such as the Crossover 139 Fast Combatant and the Sigma Fast Attack 7310.
Fincantieri
Fincantieri designs and develops aircraft carriers, cruise ships, and large ferries. It also deals in the manufacture of other naval vessels such as patrol vessels, frigates, corvettes, and submarines. The company develops and provides its services primarily to the Italian Navy. The company designed and developed Saettia Mark I for the Italian Navy, and it is currently building 70 M FAC.
Goa Shipyard Limited
Goa Shipyard Limited is an ISO 9001-2000 certified shipyard with in-house design facilities. It develops a comprehensive range of vessels for various applications and functions under the supervision of the Indian MoD. The company designed and developed Extra Fast Attack Craft (XFAC) and 35 Knots Fast Patrol Vessel.
Navantia
Navantia has the following product categories: turbine and diesel engine manufacturing, technology transfer, designing and construction of civil and military vessels, designing and manufacturing of combat and control system, and support for the service life of its vessels and systems. The company was a major contractor for the design and development of the Avante 300 and the Avante 500 FAC.
Browse Related Reports:
- Global Submarine-launched Missile Market 2017-2021
- Global Anti-ship Missile Defense System Market 2016-2020
- Global Air and Missile Defense Radar System Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like aerospace, defense technology, and homeland security. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
About Technavio
Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170119005425/en/
