Minesweeper Vessels Market Size Worth USD 3.54 Billion in 2032 | Emergen Research

Minesweepers incorporate multi-sensor systems that combine detection technologies such as sonar, Magnetic Anomaly Detection (MAD), and laser-based systems which are driving minesweeper vessels market revenue growth.

Vancouver, Jan. 30, 2024 (GLOBE NEWSWIRE) — The global minesweeper vessels market size was USD 2.50 Billion in 2022 and is expected to register a revenue CAGR of 3.5% during the forecast period. Minesweepers incorporate multi-sensor systems that combine detection technologies such as sonar, Magnetic Anomaly Detection (MAD), and laser-based systems which are driving market revenue growth. Integrating multi-sensors enhances accuracy and reliability of mine detection and classification, reducing false alarms, and improving operational effectiveness.

Increasing international cooperation and humanitarian and disaster response operations are major factors driving revenue growth of the market. Coastal minesweepers are valuable assets in humanitarian and disaster response operations. In the aftermath of natural disasters or conflicts, coastal areas can be littered with unexploded mines and ordnance, posing risks to local populations. Coastal minesweepers play a crucial role in clearing these hazards, allowing for the safe return and rehabilitation of affected communities.

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Compliance with regulatory standards and complexities associated with supply chain management are major factors restraining minesweeper vessels market revenue growth. Manufacturing minesweeper vessels involves coordinating a complex supply chain that includes sourcing components, subsystems, and specialized equipment from multiple suppliers. Managing logistics, quality control, and delivery timelines of these components is crucial to avoid delays and ensure timely completion of the vessel manufacturing process. Evolving technological landscape poses a challenge for manufacturers to keep up with the latest innovations and integrate them into minesweeper vessel designs. Staying abreast of emerging technologies and evaluating their suitability for minesweeping operations requires continuous research and development efforts.

Segment Insights

Application Insights:

On the basis of application, the global minesweeper vessels market is segmented into mine clearance, naval operations, humanitarian demining, and other applications.

The mine clearance segment accounted for a significantly large revenue share in 2022. Rapid advancements in mine classification identification play a major role in driving revenue growth of this segment. Advanced data processing algorithms and Machine Learning (ML) techniques are used to analyze sensor data and classify different types of naval mines. These algorithms can differentiate between mine such as objects and non-threatening objects, reducing false alarms and improving overall effectiveness of mine clearance operations.

High-resolution imaging and Three-Dimensional (3D) imaging technologies such as multi-spectral imaging, high-definition cameras, and others are major factors contributing to revenue growth of this segment. The imaging data collected from these devices are used to create accurate 3D maps of the seabed, enabling better identification and characterization of mines and their surrounding areas.  

End-Use Insights:

On the basis of end-use, the global minesweeper vessels market is segmented into military defense, commercial shipping, research and development, and others.

The military defense segment accounted for a significantly large revenue share in 2022. Strategic partnerships and collaborations aimed at acquiring minesweeper vessels with high-end technologies is a major factor driving revenue growth of this segment. In addition, significant investments in maintaining Sea Lines Of Communication (SLOC) is a major factor contributing to revenue growth of this segment. SLOCs are critical for military logistics and movement of supplies, equipment, and personnel. Disrupting or blocking SLOCs through mining can have severe strategic and operational implications.

Minesweeping vessels ensure security and integrity of SLOCs, enabling sustained military operations and facilitating rapid deployment of forces in times of conflict or crisis. Increasing awareness regarding the application of minesweeper vessels in enhancing force projections is a major factor contributing to revenue growth of this segment. The presence of naval mines in contested waters can limit ability to project military power of a nation effectively. Minesweeping vessels remove this obstacle, allowing naval forces to project power and influence in areas that can otherwise be inaccessible. As a result, by providing mine clearance capabilities, minesweepers contribute to ability to deter potential adversaries of a nation, protect its interests, and demonstrate its military capabilities.  

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Regional Insights:

The minesweeper vessels market in North America accounted for largest market in 2022. Significant investments in improving industrial capabilities is a major factor driving the market revenue growth in this region. North America possesses a robust shipbuilding and defense industry, which includes companies capable of manufacturing minesweeper vessels. These industries play a major role in meeting domestic demands and have potential to export minesweeper vessels to international markets. Strong industrial capabilities and expertise in naval vessel construction support development and supply of minesweeper vessels in this region.

Governments in various countries in this region are implementing policies and allocating significant budgets which significantly impact the market revenue growth in this region. Procurement decisions, funding allocations, and long-term naval plans influence the acquisition of minesweeper vessels by North American navies. Governments evaluate their defense priorities, including mines countermeasure capabilities, to determine investments in minesweeper vessels. The market in U.S. accounted for largest revenue share due to rapid technological advancements in the country.

The minesweeper vessels market in Europe accounted for a significantly large market share in 2022. Increasing focus on international trade and energy transportation among others are major factors driving the market revenue growth in this region. Europe is home to various strategic waterways, including the English Channel, Baltic Sea Straits, and others. These waterways are key to energy transportation and movement of military forces.

Minesweeping vessels are essential for ensuring the safe transit of commercial vessels, protecting critical infrastructure, and maintaining operational readiness of naval forces. The market in Germany accounted for largest revenue share due to multinational cooperation and National Atlantic Treaty Organization (NATO) mine countermeasure capabilities. NATO emphasizes mine countermeasures as part of its collective defense capabilities. European countries, both NATO members and partners, contribute to NATO’s  Mine Countermeasures Group, which conducts exercises and operations to enhance regional mine clearance capabilities.  

Scope of Research

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Major Companies and Competitive Landscape

The global minesweeper vessels market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective proteomics products. Some major players included in the global minesweeper vessels market report are:

• Saab
• Fincantieri S.p.A.
• Damen Shipyards Group
• ECA Group
• Navantia
• Thales
• Artemis Technologies
• Remontowa Shipbuilding S.A.
• SSC Marine Ltd.
• SH Group

Strategic Development

• On 24 October 2020, SH Defense, which is a Denmark-based leading manufacturer and provider of custom-made equipment and retrofit solutions for naval vessels announced developing a flexible and cost-effective modular equipment solution, that enables a vessel to act as a warship on one mission, a minesweeper on another. The Cube is made up of 128+ standard modules that meet common needs. The innovative shell is designed to protect the equipment while also ensuring that it is fully reliable and operates smoothly in both arctic and hot climates.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global minesweeper vessels market on the basis of type, application, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Minesweeper Trawlers
  • Coastal Minesweepers
  • Inshore Minesweepers
  • Magnetic Minesweepers
  • Others
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Mine Clearance
  • Naval Operations
  • Humanitarian Demining
  • Other Applications
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Military Defense
  • Commercial Shipping
  • Research and Development
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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