Global Nuclear Powered Naval Vessels Market Size, Share and Growth Mar-2017

Global Nuclear Powered Naval Vessels Market 2017-2021
The Nuclear Powered Naval Vessels market report contains a comprehensive market and vendor
landscape in addition to a SWOT analysis of the key vendors for 2017-2021. The following companies are
the key players in the global nuclear powered naval vessels market: BAE Systems, DCNS, General
Dynamics, Huntington Ingalls Industries, and United Shipbuilding Corporation (USC). Other Prominent
Vendors in the market are Austal, Cochin Shipyard, Daewoo Shipbuilding & Marine Engineering (DSME),
Fincantieri, Kawasaki Heavy Industries, and Navantia.
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Market Trend
One trend in nuclear powered naval vessels market is replacing highly enriched uranium in naval
reactors. Uranium is the most important element in the nuclear reactor. It is the uranium that
constitutes the isotopes of Uranium-235 (U-235) that undergoes nuclear fission reaction and splits one
atom into two, creating energy. For ages now, many nuclear reactors have been using highly enriched
uranium (HEU) in nuclear reactors. HEU has over 20% of U-235 and is primarily used in nuclear weapons
and nuclear reactors, whereas low enriched uranium (LEU) has less than 20% of U-235.
Market Driver
One driver in nuclear powered naval vessels market is cost effectiveness of nuclear power. One of the
major costs associated with the operation of naval vessels is the fuel expenses that goes into the ship for
its propulsion. A conventional source of fuel for ships has been petroleum, which is expensive and
belongs to the fossil fuels category. The three major types of fuels for ships are heavy fuel oil (HFO), low
sulfur fuel oil, and diesel oil. The Arleigh Burke-class destroyer typically burns approximately 24 barrels
(1,000 gallons) of fuel per hour and may vary depending on various other factors like wind force,
payload, tides, etc. This costs several millions, making it expensive for naval ships.
Market Challenge
One challenge in nuclear powered naval vessels market is operational difficulties. Nuclear-powered
naval vessels have been in use from the mid-1950s and are experiencing a continuous growing trend.
However, there have been a few operational constraints that this industry is facing. One of the major
concerns with nuclear reactors is the emission of harmful radiation that takes place during the process.
Though there are sufficient layers of protection that shield the reactors, yet even the slightest exposure
to these radiations can have adverse health effects on the individuals working in this environment.
Hence, there exists a need for the workmen to be wearing all the personnel protective equipment and
the working hours are also limited with rotation shifts.
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