Naval Actuators And Valves Market Size
| 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 |
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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 Market Trends
Defense Segment is Expected to Dominate the Market
Due to the profound changes in the international strategic landscape, the configuration of the international security system has been undermined by the growing hegemonism, unilateralism, and power politics that have fueled several ongoing global conflicts. Military powerhouses, such as the United States, the United Kingdom, China, and India, have been focused on augmenting their naval firepower, and several fleet modernization and procurement contracts are underway to address the evolving threats to their national security.
In 2022, the war between Russia and Ukraine further fueled the defense budgets across various countries and the need to reassess the operational readiness of the armed forces globally. The world military expenditure rose by 3.7% in 2022 from the previous year to reach a record high of USD 2.2 trillion. The Russia-Ukraine war was a major driver of the growth in spending in 2022. The five biggest spenders in 2022 were the United States, China, Russia, India, and Saudi Arabia, accounting for 63% of the global military spending.
According to its 30-year shipbuilding plan, the US envisions procuring 55 new ships to achieve an effective fleet size of 314 ships by 2024. In Asia-Pacific, prominent countries such as China and India are also enhancing their naval fleet size and capabilities to achieve technological superiority over their rival countries. Such induction programs are envisioned to drive the demand for actuators and valves in designing and constructing new naval vessels for defense platforms.
North America to Dominate the Market during the Forecast Period
The market is driven by the procurement of advanced weaponry by the US Navy to achieve military dominance in the region, besides ensuring internal peace and security. The United States has invested its vast technological prowess toward the indigenous development of several weapon systems to foster its military prowess over all dominion - land, air, and water.
In the FY2023 budget proposal, the US Navy proposed a total budget request of USD 230.8 billion, including USD 180.5 billion for the Navy and USD 50.3 billion for the Marine Corps. As part of the country’s naval expansion projects, the US Navy, in its FY2023 budget, proposed plans to modernize its fleet with the exclusion and inclusion of various warships and carrier fleets in the Navy. The USS Nimitz is to be removed from the battle force by the FY2025, gradually accepting the Gerald R Ford-class carriers to be inducted readily into the fleet of agile force.
The country caters to the demand from its military partners for advanced weaponry, such as guided rockets, ballistic missiles, armed UAVs, submarines, and surface warships. The program entails Serco providing repair and overhauls to the SubHDR Antenna Pedestal Group (APG), including evaluation and repair services to related sub-components. Such induction and MRO programs are envisioned to drive the demand for actuators and valves in the region to facilitate and enable seamless integration with other control systems installed in the fleet of naval vessels.
Naval Actuators And Valves Industry Overview
The naval actuators and valves market is semi-consolidated in nature. Some prominent players in the market include MOOG Inc., Honeywell International Inc., Rotork PLC, Emerson Electric Co., and Curtiss-Wright Corporation.
The emerging security environment, fueled by the growing geopolitical unrest in several countries, is resulting in the growing demand for advanced naval systems. To gain long-term contracts and expand their global presence, players are investing significantly in the procurement of new naval assets.
Continuous R&D has been fostering the advancements of accuracy and efficiency of subsystems and other technologies integrated onboard naval vessels. The competition between the players is expected to increase with the surge in defense expenditure.
Naval Actuators And Valves Market Leaders
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MOOG Inc.
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Honeywell International Inc.
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Rotork plc
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Emerson Electric Co.
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Curtiss-Wright Corporation
*Disclaimer: Major Players sorted in no particular order
Naval Actuators And Valves Market News
October 2023: Flowserve Corporation, a provider of flow control products and services, entered a definitive agreement under which Flowserve is expected to acquire Velan in an all-cash transaction valued at approximately USD 245 million.
April 2022: Fairbanks Morse Defense (FMD) was awarded a contract by Newport New Shipbuilding (NNS) to provide essential parts through Hunt Valve for the Ford Class aircraft carriers CVN 78 – CVN 81. The contract is valued at approximately USD 2 million.
Naval Actuators And Valves Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Actuator Type
- 5.1.1 Mechanical
- 5.1.2 Hydraulic
- 5.1.3 Pneumatic
- 5.1.4 Electrical
- 5.1.5 Hybrid
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5.2 Platform
- 5.2.1 Defense
- 5.2.2 Commercial
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5.3 Material
- 5.3.1 Aluminum
- 5.3.2 Stainless Steel
- 5.3.3 Alloy-based
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Russia
- 5.4.2.5 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia-Pacific
- 5.4.4 Latin America
- 5.4.4.1 Mexico
- 5.4.4.2 Brazil
- 5.4.4.3 Rest of Latin America
- 5.4.5 Middle East and Africa
- 5.4.5.1 United Arab Emirates
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Egypt
- 5.4.5.4 Israel
- 5.4.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 MOOG Inc.
- 6.2.2 Honeywell International Inc.
- 6.2.3 Rotork PLC
- 6.2.4 Emerson Electric Co.
- 6.2.5 Curtiss-Wright Corporation
- 6.2.6 Flowserve Corporation
- 6.2.7 IMI PLC
- 6.2.8 Diakont
- 6.2.9 Schlumberger Limited
- 6.2.10 Wärtsilä Corporation
- 6.2.11 AUMA Riester GmbH & Co. KG
- 6.2.12 Bosch Rexroth AG (Robert Bosch GmbH)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityNaval 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 | North America | United States |
| Canada | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | India |
| China | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Mexico |
| Brazil | ||
| Rest of Latin America | ||
| Geography | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Egypt | ||
| Israel | ||
| Rest of Middle East and Africa |
Naval Actuators And Valves Market Research 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.
Who are the key players in Naval Actuators And Valves Market?
MOOG Inc., Honeywell International Inc., Rotork plc, Emerson Electric Co. and Curtiss-Wright Corporation are the major companies operating in the Naval Actuators And Valves Market.
Which is the fastest growing region in Naval Actuators And Valves Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Naval Actuators And Valves Market?
In 2024, the North America accounts for the largest market share in Naval Actuators And Valves Market.
What years does this Naval Actuators And Valves Market cover, and what was the market size in 2023?
In 2023, the Naval Actuators And Valves Market size was estimated at USD 3.19 billion. The report covers the Naval Actuators And Valves Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Naval Actuators And Valves Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Naval Actuators And Valves Industry Report
Statistics for the 2024 Naval Actuators and Valves market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Naval Actuators and Valves analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
