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A Leader in providing marine services and manufacturer of life saving equipment serving the offshore, merchant and cruise industries throughout the world
The Client wanted to study the Global Life Saving Appliances Market to take strategic decisions. They were looking to understand the current and future market potential of LSA Market across Cruise, Merchant and Offshore sector. They also wanted to understand the top players in the industry and their market strategies
The approach undertaken was to study both qualitative and quantitative data. Bottom-up approach was followed to understand the market potential and future expected market by studying competitors, their strategies., shipping industry scenario etc Current and Future market for LSA installed was calculated using hypothesis and extensive secondary research. Macro economic indicators were studied to understand the factors affecting the market.
Extensive secondary research to study Cruise, Merchant and Offshore segments to identify current LSA market and expected market potential in next 5 years. This was done by doing in-depth research in Shipping industry
Competitive landscape was studied which included the top companies in the LSA market, and conducted SWOT analysis across different parameters like strength, employees, R&D, market share etc
Conducted Macro Assessment across Economic, Political, Social and Technological factors affecting the LSA industry
Extensive analysis was done to arrive at the potential helped the client to take strategic decisions to steer their new and existing market development