The naval vessels and surface combatants global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Naval Vessels And Surface Combatants Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The naval vessels and surface combatants market size has grown strongly in recent years. It will grow from <b>$38.04 billion in 2023 to $39.97 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. </b> The growth in the historic period can be attributed to naval power projection and deterrence, international cooperation and naval alliances, focus on multi-mission capabilities, modernization and fleet expansion programs, shifts in naval strategies and doctrine.
The naval vessels and surface combatants market size is expected to see steady growth in the next few years. It will grow to <b>$48.48 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. </b> The growth in the forecast period can be attributed to growth in naval shipbuilding industry, focus on integrated command and control systems, adaptation to asymmetric threats, rise in naval modernization programs, shift towards electrification and energy efficiency. Major trends in the forecast period include shift towards network-centric warfare, incorporation of green technologies, adoption of multi-domain operations (mdo), focus on anti-submarine warfare (asw) capabilities, integration of modular design and mission flexibility.
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Scope Of Naval Vessels And Surface Combatants Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Naval Vessels And Surface Combatants Market Overview
Market Drivers –
Increasing maritime security threats are expected to propel the growth of the naval vessels and surface combatants market going forward. Maritime security threat refers to any breach of vessel security, both inside and externally. Naval vessels and surface combatants aid in the defence of the country’s sovereignty against potential threats in the oceans and abysses by safeguarding accessible resources and coastal areas. For instance, in 2023, according to a report by the International Maritime Organization (IMO), a UK-based specialized agency of the UN in charge of controlling shipping, there was an increase in piracy and armed robbery against ships in the Straits of Malacca and Singapore, with the reported number increasing to 72 compared to the 70 incidents documented in 2021. Notably, approximately 81% of the incidents recorded in 2022 involved targeting a moving ship within these straits. Hence, increasing maritime security threats are driving the growth of the naval vessels and surface combatant market.
Market Trends –
Increased focus on indigenization is a key trend gaining popularity in the naval vessels and surface combatant’s market. Major players operating in the naval vessels and surface combatants market are increasing their focus on indigenization for providing naval vessels and surface combatants services. Indigenization is utilized to boost exports, lowering the cost of defense acquisitions. It can produce and manufacture defense equipment to attain self-sufficiency and reduce the financial burden. For instance, in June 2022, China achieved a significant milestone by launching its first indigenous aircraft carrier, the Type 003 carrier christened Fujian, and in September 2022, India commissioned its first indigenously built aircraft carrier INS Vikrant.
The naval vessels and surface combatants market covered in this report is segmented –
1) By Type: Aircraft Carrier, Battleship, Cruiser, Destroyer, Frigate, Destroyer Escort, Other Types
2) By System: Marine engine system, Weapon launch system, Sensor system, Control system, Electrical system, Auxiliary system
3) By Application: Search and rescue, Combat operations, Mine countermeasures (MCM) operations, Coastal surveillance, Other Applications
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Regional Insights –
North America was the largest region in the naval vessels and surface combatants market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the naval vessels and surface combatants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the naval vessels and surface combatants market report are Huntington Ingalls Industries Inc., General Dynamics Corporation, Damen Shipyards Group, Naval Group, BAE Systems plc, Navantia SA, Fincantieri SpA, Daewoo Shipbuilding & Marine Engineering Co. Ltd., United Shipbuilding Corporation, China State Shipbuilding Corporation, Eastern Shipbuilding Group, Cochin Shipyard Ltd., Mitsubishi Heavy Industries Ltd., Marine Engineering Co. Ltd., Larsen & Toubro Ltd., Lockheed Martin Corporation, ThyssenKrupp Marine Systems, Lürssen Werft GmbH & Co. KG, Mitsui Engineering & Shipbuilding, Saab Group, Kockums AB, Hyundai Heavy Industries, Oshkosh Defense LLC, STX Offshore & Shipbuilding Co. Ltd., Singapore Technologies Engineering Ltd., Boustead Naval Shipyard, Ishikawajima Heavy Industries Corporation, Shipyard De Hoop, Austal Limited, Bharati Defence and Infrastructure Limited
Table of Contents
1. Executive Summary
2. Naval Vessels And Surface Combatants Market Report Structure
3. Naval Vessels And Surface Combatants Market Trends And Strategies
4. Naval Vessels And Surface Combatants Market – Macro Economic Scenario
5. Naval Vessels And Surface Combatants Market Size And Growth
…..
27. Naval Vessels And Surface Combatants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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