Flap Rudder Market Size is Predicted to See Lucrative Gains Over 2022-2027

Global flap rudder market size is anticipated to register $214.6 million in revenue by 2027 owing to the escalating maritime trade activities worldwide. The shipbuilding sector has been rapidly expanding over the past years, on account of the favorable economic conditions, rising seaborne trade, and rapid urbanization.

Furthermore, the integration of automation in the modular shipbuilding technique will boost the shipbuilding industry and in turn, amplify the demand for rudders with flap. This rapid rise in product demand is also due to various usage advantages such as high lift capabilities, along with the efficient maneuvering requirements in the sector.

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Apart from shipbuilding, the fishing sector has been witnessing high growth, as the consumption of seafood has been growing exponentially. An efficient flap rudder and steering system has the capability to withstand strong currents, waves, and wind. These aforesaid factors, alongside the changing dietary habits, will make significant contributions to the industry outlook in the coming years.

In terms of segmentation by flap material, the metal segment will expand at a considerable growth rate over the forecast spell, which is attributable to its myriad benefits such as cost-effectiveness, easy workability, and superior strength.

On the other hand, the composites material segment is likely to witness a major upsurge, as it can significantly reduce the weight of the rudders as well as improve the overall efficiency of its shapes and designs. Other factors such as cost-competitiveness and low maintenance costs of this material will boost segmental growth.

On the basis of fit, the global flap rudder market from the linefit segment is poised to exhibit a CAGR of over 4% through 2027, as a result of the rapid developments of new ship vessels. Moreover, the retrofit segment is slated to proliferate at a rapid pace in years to come, owing to the robust demand for rudder conversions.

Despite the rising popularity of the flap rudder design, its high repair and maintenance costs may hinder the flap rudder market expansion over the projected timeframe. Additionally, the shipbuilding industry has been witnessing a steep decline in ship orders and new ship vessels delivery due to the ongoing COVID-19 pandemic. The industry will, however, return to normalcy as the shipbuilding sector is anticipated to regain traction in the next few years.

From a regional perspective, the Europe flap rudder market will register revenue of more than $25 million by 2027, which is attributable to the increasing prominence of fishing operations and marine tourism. Upcoming offshore projects like Penguins redevelopment and Neptune Deep in Romania will also result in surging offshore activities and the need for sea vessels across the region.

The competitive landscape of the flap rudder market comprises of companies such as Nakashima Propeller Co., Ltd., De Waal BV, Damen Marine Components, Wuxi Delin Marine Equipment Co., Becker Marine Systems GmbH, and Kongsberg Maritime, among others. These firms are implementing strategies such as innovative product launches and business expansions to strengthen their foothold across the globe.

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Partial Chapter of the Table of Content

Chapter 4. Flap Rudder Market, By Flap Material

4.1.  Global flap rudder industry flap material insights

4.2.  Metal

4.2.1. Market estimates and forecast, 2017 – 2027

4.2.2. Market estimates and forecast, by region, 2017 – 2027

4.3.  Composites

4.3.1. Market estimates and forecast, 2017 – 2027

4.3.2. Market estimates and forecast, by region, 2017 – 2027

Chapter 5. Flap Rudder Market, By Fit

5.1.  Global flap rudder market fit insights

5.2.  Linefit

5.2.1. Market estimates and forecast, 2017 – 2027

5.2.2. Market estimates and forecast, by region, 2017 – 2027

5.3.  Retrofit

5.3.1. Market estimates and forecast, 2017 – 2027

5.3.2. Market estimates and forecast, by region, 2017 – 2027

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