According to the research report titled ‘Flap Rudder Market Size By Flap Material (Metal, Composites), By Fit (Linefit, Retrofit), By Ship, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global flap rudder market is projected to amass sizeable revenues over the forecast period 2021-2027.
 

Proliferation of seaborne trade, flourishing marine tourism industry, and escalating number of offshore development projects are primary factors propelling worldwide flap rudder market growth.
 

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For those unaware, rudders are hydrofoils rotating on a vertical axis, which are used for steering and maneuvering vessels. Flap rudders comprise a blade sporting a trailing edge flap, which is activated by a mechanical or hydraulic system. These rudders can produce greater side force as compared to conventional rudders of the same size.
 

Despite the positive industry outlook, high maintenance costs incurred on flap materials, and temporary closure of facilities due to the COVID-19 pandemic are likely to impact overall revenue inflow over the forecast period.
 

Based on flap material, the industry is arrayed into metal, and composites. Considering fit type, the market segmentation comprises linefit, and retrofit variants.
 

In terms of ship type, worldwide flap rudder market is categorized into container ships, bulk carriers, ferries & passenger ships, general cargo ships, oil & gas carriers, offshore vessels, and others. Of these, offshore vessels segment is poised to generate lucrative returns over the assessment period, owing to numerous ongoing offshore development projects.
 

On the regional front, Latin America industry is projected to reach a valuation of USD 5 million by the end of forecast period, while North America market is slated to generate substantial returns through 2027, owing to increasing preference towards seaborne trade.
 

Prominent players profiled in global flap rudder industry report are China Empire Offshore Engineering Equipment Manufacture Co. Ltd., Kemp Propulsion Systems (Kemp Group), De Waal Holding B.V., Wuxi Delin Marine Equipment Co. Ltd., Rice Nozzles (Rice Group), YMV Kreyn ve Makina Sistemleri A.?., Nakashima Propeller Co. Ltd., Kamome Propeller Co. Ltd., Damen Marine Components BV, Kongsberg Gruppen ASA, and Becker Marine Systems GmbH.