Canada’s defence minister says the world is ‘growing darker’ and ‘more chaotic’ - National | Globalnews.ca

On the same subject

• 

  October 25, 2019 | Local, Naval

  The Global Naval Vessels And Surface Combatants Market 2019-2029

  Summary The global naval vessels and surface combatants market is valued at US$36. 7 billion in 2019, and will grow at a CAGR of 1. 97%, to reach a value of US$44. 6 billion by 2029. New York, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "The Global Naval Vessels And Surface Combatants Market 2019-2029" - https://www.reportlinker.com/p02275942/?utm_source=GNW The cumulative market for global naval vessels and surface combatants is anticipated to value US$429.8 billion over the forecast period. The demand for naval vessels is anticipated to be driven by high levels of expenditure by emerging economies in the Asia-Pacific region including India and China. The North American region supported by US Navy's multi-year procurement programs, is expected to maintain its leading position globally, exhibiting a steady pace of growth over the forecast period. The global naval vessels and surface combatants market is expected to be led by North America with revenue share of 41.9%. Cumulatively, North America is projected to spend US$180.3 billion on naval vessels and surface combatants over the forecast period. In 2019, regional expenditure is expected to value US$15.1 billion and increase to US$19.0 billion by 2029, growing at a CAGR of 2.32%. Asia-Pacific will follow North America and is expected to account for 26.2% revenue share of the global naval vessels and surface combatants market over the forecast period. Europe is anticipated to be the third-largest market globally with a revenue share of 22.2% over the forecast period, driven by the naval expansion and capability enhancement initiatives undertaken by various countries in the region. With a share of 5.5%, the market for naval vessels and surface combatants in the Middle East is projected to be the fourth largest globally. Frigates is expected to be the largest segment in the naval vessels and surface combatants market during the forecast period. Driven by several high-value procurement programs worldwide including the US Navy's FFG(X) program, Canadian Navy's ‘Canadian Surface Combatant' program, Saudi Navy's Multi-Mission Surface Combatant program, Australian Navy's SEA 5000 (Hunter-class) program and French Navy's Intermediate Frigate (FTI) program among others; the Frigates segment is expected to account for a 28.7% revenue share of the total market over the forecast period. Destroyers segment will follow Frigates segment with 19.6% market share. With 15.1% share, Amphibious Ships segment is anticipated to hold the third position in the global market. The growing demand for Amphibious Ships is primarily attributed to the ongoing initiatives of naval forces to develop relevant sealift capabilities. Light Combat Vessels and Corvettes segments to account for respective shares of 11.8% and 9.3%. Aircraft Carriers will account for a decent share of 8.6% over the next decade. The remaining share of 6.9% will be held by Auxiliary Vessels segment. The report "The Global Naval Vessels And Surface Combatants Market 2019-2029", offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for naval vessels, key market trends, and challenges faced by industry participants. In-depth analysis provides - - Market size and drivers: detailed analysis during 2019-2029, including highlights of the demand drivers and growth stimulators.It also provides a snapshot of the spending and modernization patterns of different regions around the world - Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of naval vessels and surface combatants segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants - Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand - Major programs: details of the key programs in each segment, which are expected to be executed during 2019-2029 - Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives and financial analysis Companies mentioned: General Dynamics, Huntington Ingalls Industries, Austal, Naval Group, Larsen & Toubro Limited (L&T), Lockheed Martin, Fincantieri SpA, BAE Systems, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering Co., Ltd and Abu Dhabi Shipbuilding Scope - The global naval vessels and surface combatants market is expected to grow at a CAGR of 1.97% over the forecast period. - The market consists of seven categories: frigates, destroyers, amphibious ships, light combat vessels, corvettes, aircraft carriers, and auxiliary vessels. - North America will dominate the sector with a share of 26%, followed by Asia-Pacific and Europe. The frigates segment is expected to be the leading segment during the forecast period. Reasons to buy - Determine prospective investment areas based on a detailed trend analysis of the global naval vessels and surface combatants market over the next ten years - Gain in-depth understanding about the underlying factors driving demand for different naval vessels and surface combatants segments in the top spending countries across the world and identify the opportunities offered by each of them - Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others - Identify the major channels that are driving the global naval vessels and surface combatants market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion - Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global naval vessels and surface combatants market - Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top naval vessels and surface combatants providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available. Read the full report: https://www.reportlinker.com/p02275942/?utm_source=GNW https://finance.yahoo.com/news/global-naval-vessels-surface-combatants-134956689.html

• 

  September 10, 2023 | Local, Land, Security

  National Defence to roll out spending cuts over next three years - officials say extent of impact 'yet to be confirmed'

  Spending cuts to hit National Defence and Canadian Forces but officials say no job losses expected.

• 

  July 22, 2019 | Local, Naval

  Victoria Shipyards signs contract to maintain Canada's West Coast-based Halifax-class Frigates

  VICTORIA, July 16, 2019 /CNW/ - Seaspan's Victoria Shipyards has signed a contract to perform Docking Maintenance work on the Royal Canadian Navy's (RCN) fleet of Halifax-class frigates. This work has been executed by Victoria Shipyards for the last decade under the Frigate Life Extension (FELEX) modernization program. The maintenance support for Canada's frigates will see Seaspan provide docking work periods for Canada's five Halifax-class frigates stationed on the West Coast. The Government of Canada also announced similar work would be conducted by two other Canadian shipyards for Canada's seven East Coast-based Halifax-class frigates. The initial phase of the contract awarded for Seaspan's work is valued at $500 million and, with contractual extensions, will provide long-term stability for Seaspan's workforce over the next several decades. Work will be conducted at Seaspan's Victoria Shipyards which operates out of the federally-owned Esquimalt Graving Dock. Today's announcement builds on the company's exemplary record as a partner to the Government of Canada on past Halifax-class modernization efforts. With a well-earned reputation for on-time, high quality delivery of large modernization and conversion projects, Seaspan's Victoria Shipyards is a trusted partner to the Government of Canada and a range of commercial customers. This includes engagement as a subcontractor to Lockheed Martin Canada to perform upgrades to New Zealand's ANZAC-class frigates, the first time that a foreign warship will undergo a modernization in Canada since the Second World War. As a subcontractor to Babcock Canada the shipyard provides ongoing in-service support for Canada's fleet of Victoria-class submarines. The company also continues to make its mark in the commercial sector as one of the few North American shipyards executing work on international cruise vessels and performing the first major vessel LNG duel fuel conversion on two ships. QUOTES "This vital, long-term work demonstrates the government's continued commitment to supporting the women and men of the Royal Canadian Navy by providing them with the equipment they need to protect Canadian interests at home and abroad. Together with our shipbuilding partners, we are fulfilling federal fleet requirements, advancing Canadian technological innovation and creating jobs across this great country." The Honourable Carla Qualtrough Minister of Public Services and Procurement and Accessibility "Seaspan's Victoria Shipyards has developed a reputation for exceptional reliability in its work as a service provider for both government and commercial clients on complex projects. The award of this contract is the latest vote of confidence from the Government of Canada in Seaspan's role as its long-term west coast partner for shipbuilding and ship repair. This contract will allow our team to build on past experience as we continue to perform vital maintenance work on Canada's fleet of frigates." Mark Lamarre Chief Executive Officer, Seaspan Shipyards "Victoria Shipyards executed the first docking packages on the Halifax Class as they were built and stationed in Victoria, and we are proud and humbled to be awarded a contract that will allow us the opportunity to work these vessels to their end of life. The production-driven team approach we and our DND and FMF partners are committed to will allow Canada's fleet to continue sailing proudly and safely at sea. This contract will continue to generate high wage employment to the men and women working in our trades who remain a core focus of our business. Well done to our Victoria Shipyard team!" Joe O'Rourke Vice President & General Manager, Seaspan Victoria Shipyards QUICK FACTS Maintenance on Canada's Halifax-class frigates is expected to support employment for hundreds of Canadian workers The frigates require a wide range of engineering change work, equipment installations, docking work and corrective maintenance activities to ensure they remain operationally available and relevant through to their end of life With its past work on the Frigate Life Extension Program (FELEX) for Canada's Halifax-class frigates, Victoria Shipyards generated more than 4.5M labour hours To date, Victoria Shipyards has provided docking work periods (DWP): 19 DWP for frigates 3 DWP for destroyers 3 DWP for Maritime Coastal Defence Vessels https://www.newswire.ca/news-releases/victoria-shipyards-signs-contract-to-maintain-canada-s-west-coast-based-halifax-class-frigates-805037403.html