The global flap rudder market is anticipated to grow at a CAGR of nearly 4.5% during the forecast period (2021-2027). The demand for marine vessel in fishing is increasing, thereby creating scope for market growth. Seafood consumption due to changing dietary patterns among population is the prominent factor for growth of the fishing sector, hence, driving the flap rudder market. As per the Food and Agriculture Organizations of the United State, in 2018, total global capture fisheries production reached the highest level ever recorded at 96.4 million tonnes – an increase of 5.4 percent from the average of the previous three years. The production will increase due to increasing consumption, which in turn will create demand for more marine vessel for fishing. The rudder is an integral part of the propulsion package. During commercial fishing operations the vessel must maintain a specific course at low speed in all types of weather conditions. Strong currents, gusts and waves may affect the ship’s ability to keep course, requiring a rudder with improved lift capacity at lower speeds to ensure a good catch.
Browse the full report description of “Global Flap Rudder Market Size, Share & Trends Analysis Report, By Flap Material (Metal, and Composites), By Fit (Linefit, and Retrofit), By Ship (Bulk Carriers, Oil & Gas Carriers, Offshore Vessels, General Cargo Ships, Container Ships, Ferries & Passenger Ships, and Others), Forecast (2021-2027).” at https://www.omrglobal.com/industry-reports/flap-rudder-market
The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in April 2019, Kongsberg Gruppen acquired Rolls-Royce Commercial Marine. This will enable the company to strengthen its foothold in the market and expand its global footprint with representation in 40 countries.
Market Coverage
• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered-
o By Flap Material
o By Fit
o By Ship
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Becker Marine Systems Gmbh, Jiangsu China Empire Offshore Engineering Equipment Manufacture Co., Ltd., Nakashima Propeller, Rolls-Royce, and Van der Velden Marine Systems
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Flap Rudder Market Report Segment
By Flap Material
By Fit
By Ship
Global Flap Rudder Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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