Marine Vessel Market Size, Share and COVID-19 Impact Analysis, By Type (Commercial Vessel, Passenger Ship, LNG/LPG Carrier, and Special Purpose Vessel), By System (Marine Engine, Sensor System, Control System, Electrical System, Auxiliary System and Communication System), By End-User (OEM and Aftermarket), and Regional Forecast, 2021- 2028

Methodology:

Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Secondary data sources that we refer to:

• Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
• Studies published by relevant associations such as The International Air Transport Association (IATA), The General Aviation Manufacturer's Association (GAMA), The Federal Aviation Administration (FAA), Stockholm International Peace Research Institute (SIPRI), others
• Website, reports, and press releases of end user facilities
• Industry journals and paid databases,

Secondary research is conducted to derive the following information:

• Details such as revenues, market share, strategies, growth rate, component & their pricing by region/country for all major companies
• Details in relation to technological advancement, new product launches, change in material usage, and so on
• Number of distributors and suppliers by region/country and in depth supply chain as well as value chain analysis.
• Porter’s analysis to better understand the bargaining power every link holds in the value chain
• Replacement life cycle of the components and the average pricing for every component in the aftermarket.
• Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
• Agreements & partnerships, mergers & acquisition, facility and capacity expansion by the OEM’s, Tier-1, Tier-2, and Tier-3 manufacturers

Interviews are conducted with:

• Key stakeholders such as CEO’s, managing directors, marketing directors, sales managers, chief engineers, major distributors, government bureaucrats, and others.
• Key opinion leaders in regulatory bodies
• Key stakeholders such as OEM’s, Tier-1, Tier-2, Tier-3, innovators, start-ups, government bodies, end users, major publications, and so on.

Interviews are conducted to derive the following information:

• Insights from supply side respondents in relation to the market size, growth rate, market distribution, market dynamics, and market share analysis
• Validation of the market size, growth rate, and market distribution estimated on the basis of market models
• Insights from end user respondents to feed into models such as adoption of certain systems, product life cycle, adoption and penetration of technology, average pricing, average spending on aircraft operations, replacement life of components, and so on.