Industry Analysis & Industry Trends
The national security considerations of governments and long-term planning undertaken for military expenditure ensured relative stability for industry revenue over the past five years. Growth is primarily attributed to demand for military ships and boats to protect coastal waters and to expand and renew navy fleet sizes. Revenue is projected to continue growing in the next five years through stable growth in defense budgets and a focus on advanced electronics and information systems capabilities... read more
Starting a New Business
The industry's barriers to entry are formidable. High start-up costs, from land acquisitions to investment in technology, make it difficult for new entrants. Entry is more possible in the auxiliary and parts manufacturing segments, though participants are subject to the requirements of the major players that outsource these activities and hence may be susceptible to lower margins and profit.
The industry demands skilled labor and is on the leading edge of technology, constantly striving to create new products and improve existing ones. The industry invests a great deal of time and money in research and development of naval products, and much of the work is performed by professional and related workers... read more