LONDON, June 18, 2019 /PRNewswire/ -- A new forecast covering the international naval vessels market over the next decade has identified Beijing's aim of developing a power-projecting blue-water navy as a major driver for spending on surface ships and submarines through to 2029 in the US and Asia-Pacific.
Published in May this year, Shephard Media's Naval Vessels Market Report and Forecast 2019-2029 details $310.3 billion of procurement by the Pentagon and $269.5 billion among China's Pacific neighbours. Commenting on these figures, Matthew Smith, Shephard's Director Analysis, said: "Despite fears of the People's Republic 'catching up' with the US, we are forecasting that the DoD will still spend more than twice as much as China on ship procurement over the forecast period."
The report – the second in a new series which also covers armoured vehicles and military unmanned systems – provides a detailed, 25,000-word analysis of market trends and competitive opportunities, broken down into regions and classes of vessel. It is illustrated with over 40 charts and supplemented by company profiles of leading suppliers in this sector. This analysis is further complemented by an extensive data pack with forecast details on over 450 procurement programmes and requirements around the world.
Vessels covered include:
Shephard Media is a globally recognised top-four publisher in the defence sector, with over 35 years' experience delivering insight to this community.
Its market reports are developed by a team of analysts and subject matter experts, using a combination of open-source research, the proprietary Shephard Plus database of over 9,000 aerospace and defence systems and the company's respected, award-winning journalism.
For more information about Shephard and this series of reports, visit our website.
SOURCE Shephard Media