The marine propeller market was valued at USD 3.48 billion in 2021 and is projected to grow from USD 3.60 billion in 2022 to USD 5.68 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.76%. This growth is largely driven by technological advancements and the increasing adoption of fixed propellers in marine propulsion systems. The trend towards real-time data tracking and the use of environmentally friendly propulsion systems are also contributing to market expansion. However, the ongoing Russia-Ukraine conflict could impact market dynamics in the coming years.

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Key Players in the Market:

• AB Volvo (Sweden)
• Brunswick Corporation (U.S.)
• Kongsberg Gruppen (Norway)
• Mecklenburger Metallguss GmbH (Germany)
• Bruntons Propellers Ltd. (U.K.)
• Hyundai Heavy Industries Co., Ltd. (South Korea)
• Kawasaki Heavy Industries, Ltd. (Japan)
• MAN SE (Germany)
• NAKASHIMA PROPELLER Co., Ltd. (Japan)
• Rolls-Royce plc (U.K.)
• SCHOTTEL Group (Germany)
• Michigan Wheel Holdings LLC (U.S.)
• Wärtsilä Corporation (Finland)
• VEEM Propellers Ltd. (Australia)
• Andritz AG (Austria)