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Flap Rudder Market Share

Report ID: GMI5015
Published Date: Mar 2021
Report Format: PDF

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Flap Rudder Market Share

Industry participants are adopting various strategies including flap material differentiation & development, strategic partnerships & collaborations, and mergers & acquisitions to gain competitive advantages. In April 2019, Kongsberg Gruppen acquired Rolls-Royce Commercial Marine. This will help the company to strengthen its foothold in the market and expand its global footprint with representation in 40 countries.

The key players in the flap rudder market include

Becker Marine Systems GmbH
Kongsberg Gruppen
Damen Marine Components
Kamome Propeller
Nakashima Propeller Co., Ltd.
YMV Kreyn ve Makina Sistemleri A.?.
De Waal BV
Kemp Propulsion Systems
Wuxi Delin Marine Equipment Co., Ltd.
Jiangsu China Empire Offshore Engineering Equipment Manufacture Co., Ltd.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

Flap rudder market size was valued at USD 160.8 million in 2020 and will record a CAGR of 4.3% through 2027 with increasing seaborne trade and ship repair activities around the world.

The composite material segment will register a CAGR of 4.5% through 2027 with increasing usage of composite materials for manufacturing rudder flaps.

Linefit segment had accounted for more than 80% of the flap rudder market share in 2020 and will expand in the coming years.

Oil & gas carriers will secure a market share of over 25% by 2027 owing to the increasing demand for transportation for crude oil and petroleum flap materials.

Asia Pacific flap rudder market had recorded a valuation of more than USD 120 million in 2020 owing to the increasing seaborne trades across developing countries.