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Report: Trade Group Pegs World Naval Market at $40B Annual Sales

Report: Trade Group Pegs World Naval Market at $40B Annual Sales - top government contractors - best government contracting event

Report: Trade Group Pegs World Naval Market at $40B Annual Sales - top government contractors - best government contracting eventPatrick Boissier, chairman of the France-based Gican trade association, has estimated that naval sales in the global market total approximately $40 billion per year, Defense News reported Monday.

Pierre Tran writes Boissier told reporters that the U.S. has some $12 billion in annual sales while Southeast Asia, India and Australia have sales worth up to $12 billion combined which excludes future submarine programs.

Europe has $10 billion-$11 billion in annual sales while China and Russia show $3 billion-$4 billion each, the report stated.

Boissier noted there is high interest in submarines and 45 countries deploy close to 450 vessels combined, Tran wrote.

Gican organizes the Euronaval maritime defense trade show scheduled to run from Oct. 17-Oct. 19 at Le Bourget in France.

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