The global water-jet propulsion device market is anticipated to grow at a considerable CAGR of 5.8% during the forecast period (2023–2029). The key market drivers are the advantages of water-jet propulsion. These systems allow vessels to achieve high speeds and improved maneuverability compared to traditional propeller systems. This makes waterjet propulsion ideal for applications such as high-speed ferries, military and defense vessels, and offshore operations. Waterjet propulsion systems also have fewer moving parts compared to traditional propellers, which reduces the risk of mechanical failure and the need for maintenance. This can result in lower maintenance costs and increased vessel uptime. Additionally, these systems can be used in a wide range of vessel types and applications, including commercial vessels, military and defense, recreational boating, and offshore operations.
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Companies are also launching new and innovative boats and yachts that have waterjet propulsion. For instance, in July 2022, Hinckley, a luxury yacht and boat manufacturer, announced the launch of its new Picnic 40 S boat. The boat is available with a silent waterjet system, and its cruising speed is seven knots. It also has an 80 kwh battery, which can be charged manually or while running on fuel. Additionally, in July 2021, Kongsberg Maritime of Norway introduced two water jet control systems, the JCS Compact and JCS Extended. The two systems, which are based on the new JCS (jet control system) technology initiative, employ standard components for cheaper costs and easier operations. According to Kongsberg, the Compact can be employed with either one or two control stations and a single waterjet propulsion unit, or in a dual-waterjet configuration for full redundancy and operational safety in the case of unexpected complications.
Market Coverage
• The Market Number Available for – 2023-2029
o Base year- 2022
o Forecast period- 2023-2029
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Blue Arrow, Castoldi, Doen Waterjets, Hamilton Jet, Holland Marine Parts, and others.
Key questions addressed in the report
• What is the market growth rate?
• Which segment and region dominated the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segments
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Water-Jet Propulsion Device Market Report Segment
By Type
By Application
Global Water-Jet Propulsion Device Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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