Market Definition and Scope
Waterjet propulsion system has been widely used in civil and military applications because of its high system efficiency, strong anticavitation ability, excellent maneuverability, stable operation, and low noise, among many others. In last decades, the demand for waterjet propulsion has gradually increased. Many experts have done a lot of work on the simulation of the waterjet propulsion system, the navigation test, the interaction between the waterjet propeller and the hull, and the overall design of the waterjet propulsion system and obtained a number of useful results.
Using water as a source of power eliminates several problems arising out of conventional propulsion methods. It’s fast, quiet, and extremely environment friendly. Nevertheless, water jet propulsion cannot be used for large ships such as tankers, cargo carriers, or warships at present. It is more suited to powering smaller coast guard and naval vessels, trawlers, tugboats, and personal vessels. The advantages of such devices are as followed:
• Precise steering control at all boat speeds.
• "Zero Speed" steering effect provides 360° thrusting ability for docking and holding stationary.
• Sideways movement possible with multiple jet installations.
• High efficiency astern thrust with "power-braking" ability at speed.
Water-Jet Propulsion Device industry is competitive and includes various market players such as,
• Alamarin-Jet Oy
• Marine Jet Power
• Scott Design & Manufacture Ltd.
• Doen WaterJets
• Wärtsilä Corp.
• Castoldi Srl
• Rolls-Royce Holdings plc
• Thrustmaster of Texas Inc
Water-Jet Propulsion Device industry is segmented based on the By Type, By Application, By End Users And Region.
• Axial Flow Waterjet
• Mixed Flow Waterjet
• Centrifugal Flow Waterjet
By End Users
• Inland Waterway
• North America
• South America
With the slowdown in world economic growth, the Water-Jet Propulsion Device industry has also suffered a certain impact, but still it will maintain a relatively optimistic growth, during the forecast period. The presence of few competition and the high M&A has made the market highly concentrated among top 5-6 market players. However, due to the global recovery trend is slightly, investor are still optimistic about this area; the future will still have more new investment enter the field.
The requirement of high initial investment and a lack of clear roadmap of technology deployment can hamper the growth of Water-Jet Propulsion Devices market. The Asia Pacific region is expected to be an opportunity area for Water-Jet Propulsion Devices on account of increasing shipbuilding activity. China isexpected to contribute the most to the growth of Water-Jet Propulsion Devices market.
Under Water-Jet Propulsion Device initiatives in India, the pilot projects are deployed across the country. The pilot projects shall allow identifying the challenges that may result to proper solution in the country. North America is expected to drive the demand for Water-Jet Propulsion Devices worldwide in the foreseeable future. The demand in this region is driven by the lucrative policies and investment in research and development of new Water-Jet Propulsion Device. Europe is expected to register moderate growth in the foreseeable future.
The research provides answers to the following key questions:
• What is the estimated growth rate and market share and size of the Water-Jet Propulsion Device market for the forecast period 2021 - 2024?
• What are the driving forces in the Water-Jet Propulsion Device market for the forecast period 2021 - 2024?
• Who are the prominent market players and how have they gained a competitive edge over other competitors?
• What are the market trends influencing the progress of the Water-Jet Propulsion Device industry worldwide?
• What are the major challenges and threats restricting the progress of the industry?
• What opportunities does the market hold for the prominent market players?
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