India, China to Order 100 Naval Ships Each By 2032: Report
Singapore: India and China will order 100 new naval ships and submarines each by 2032 due to changing global security environment and increasing reliance on the sea for trade in the strategic region, according to a U.S.-based naval consultancy.
The new orders would include nuclear and conventional submarines and new aircraft carriers, a balanced mix of destroyers, frigates, smaller units, amphibious and logistics vessels, Coast Guard and maritime patrol forces, said Bob Nugent, the vice-president of AMI International.
The two countries' combined order would account for 30 by volume and 45 percent by value of the 1048 naval vessels, worth about $ 200 billion, to be ordered by the Asia Pacific countries in next 20 years, he said.
"We see the Asia Pacific market as about $ 200 billion worth of new ships and submarines," he said. The region has become second to the U.S.
"The Asia Pacific submarine investment is significant, with 100 to be ordered over 20 years, making it the single region buying more submarines than anywhere else in the world," Nugent told a press conference of the International Maritime Defence Exhibition & Conference to be held here on May 14-16.
Comparatively, the U.S. was projected to order 453 naval vessels, or about 14 percent of the global orders, between 2012 and 2032.
