The aircraft carrier ship market is expected to grow at a modest growth rate during the forecast period. The countries are manufacturing aircraft carrier ships to demonstrate their military power and to maintain dominance in the sea area. The US is the largest player operating in the aircraft carrier ship market. The country has the largest GDP along with the largest defense budget globally. It already has 20 commissioned aircraft carrier ships, three are under construction, three are ordered, and thirteen under planning. Generally, 2 of the 20 aircraft carrier ship of the US remains at the dock for the maintenance and refueling at a time. The cost of the latest nuclear-powered aircraft carrier USS Gerald R. Ford was around $12.9 billion. In the FY 2021 budget, the Navy has proposed a budget of $13.3 billion for Gerald R. Ford for ship procurements.
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The Navy is also spending significantly on the maintenance and upgrade of the aircraft carrier. For instance, in April 2020, BAE System plc secured an order of $200.3 million from the US Navy for maintenance and modernizing USS Boxer in 18 months. A similar contract of $41 million was secured by the company from the US Navy in March 2019 for the routine maintenance and modernization of the amphibious transport dock ship USS Anchorage.
China is the other major country that is actively increasing its aircraft carrier fleet size. As of May 2020, the country has only two aircraft carriers commissioned however three are under construction, and in the future, it is planning for the two other aircraft carrier ships. Until now, only the US and France are able to manufacture nuclear-powered aircraft carriers however China is planning to introduce Type 004 as a nuclear-powered aircraft carrier, which will make it the third country to do so. In March 2018, China Shipbuilding Industry Corp. had revealed its plan to develop its country’s first nuclear-powered aircraft carrier. Many other countries are also constructing the aircraft carrier to project their military force to the competitive countries which include India, South Korea, Italy, and Turkey. Countries including Brazil, Russia, and Singapore are also planning to commission their aircraft carrier in the next decade.
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The aircraft carrier ship market is the highly consolidated market and few players are operating in the market due to high R&D and investment associated with it. The major players in the market include Dalian Shipbuilding Industry Co., BAE Systems plc, Sedef Shipbuilding, Inc., Huntington Ingalls Industries Ltd., Cochin Shipyard Ltd., Navantia, S.A., S.M.E, and others. However, an aircraft carrier ship cost billions and many companies have chances to gain some orders related to maintenance and modernization of the aircraft carrier ship.
Global Aircraft Carrier Ship Market- Segmentation
By Type
- Catapult-Assisted Take-off Barrier arrested-recovery (CATOBAR)
- Short Take-off but Arrested Recovery (STOBAR)
- Short Take-off but Vertical Recovery (STOVL)
By Propulsion Technology
- Conventional Powered
- Nuclear Powered
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