Russian Market for Naval Vessels and Surface Combatants is Expected to US$27.9 Billion

Date: 2015-08-24

• The US’ expenditure on naval vessels is driven hugely by its policy of maintaining global military supremacy, especially in light of the threat posed by China’s growing military might and a robust military procurement policy being adopted by a resurgent Russia.

• Expenditure in the MRO sphere is driven by the US Navy’s implementation of one of the biggest ship modernization programs in its history in 2009, which entails refitting and upgrade of its Ticonderoga (CG 47) class cruisers and Arleigh Burke (DDG 51) class destroyers.

• The Russian market for naval vessels and surface combatants is expected to be the largest in Europe during the next decade, with an estimated total spending of US$27.9 billion. Although the country is weighed down by economic instability and budget cuts across several economic sectors, the Russian defense budget is set to grow.

• Aircraft carriers are expected to generate the largest spending in the UK naval vessels and surface combatants market during the forecast period. The expenditure in this segment will be driven by the MoD’s massive investments in developing two Queen Elizabeth-class aircraft carriers.

Naval Vessels and Surface Combatants 

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