Market Share of Naval Gas Turbine Industry
The naval gas turbine market is semi-consolidated. Some of the most prominent players in the market include Bharat Heavy Electricals Limited, General Electric Company, IHI Power Systems Co. Ltd, Kawasaki Heavy Industries Ltd, and Mitsubishi Heavy Industries Ltd. In the current landscape, original equipment manufacturers (OEMs) increasingly prioritize the advancement of gas turbines for naval vessels, aiming to enhance overall efficiency.
Highlighting this trend, in April 2023, the US Navy launched the USS Santa Barbara (LCS 32), featuring a propulsion system driven by two GE LM2500 gas turbines, notable for their GE-manufactured lightweight composite enclosures. This innovative enclosure significantly reduced the turbine's weight, facilitated easier repairs, lowered operational temperatures, and enhanced sound suppression. Furthermore, given the disruptions in the global supply chain, exacerbated by events like the Russia-Ukraine War, a notable surge is anticipated in the indigenous development and production of naval gas turbines. A case in point is the decisive move by the Indian Ministry of Defence (MoD) in September 2023, which fast-tracked the development of indigenous marine gas turbines (MGT) to power the nation's naval fleet.
Naval Gas Turbine Market Leaders
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Bharat Heavy Electricals Limited
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IHI Power Systems Co. Ltd.
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Kawasaki Heavy Industries, Ltd
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Mitsubishi Heavy Industries, Ltd.
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General Electric Company
*Disclaimer: Major Players sorted in no particular order
