naval vessels and surface combatants market share, naval vessels and surface combatants market growth, naval vessels and surface combatants market demand, naval vessels and surface combatants market insights, naval vessels and surface combatants market drivers, naval vessels and surface combatants market size
What insights does the Naval Vessels and Surface Combatants Market Size Analysis provide?
The naval vessels and surface combatants market size has experienced steady growth in recent years. The market will expand from $39.13 billion in 2024 to $41.02 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.8%. The growth during the historical period can be attributed to factors such as naval power projection and deterrence, international cooperation and naval alliances, focus on multi-mission capabilities, modernization and fleet expansion programs, and shifts in naval strategies and doctrine.
Predictions indicate that the naval vessels and surface combatants market size will continue to grow steadily in the upcoming years, reaching $49.38 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. Factors driving the forecast period growth include the growth in naval shipbuilding industry, focus on integrated command and control systems, adaptation to asymmetric threats, rise in naval modernization programs, and the shift towards electrification and energy efficiency. The forecast period will also witness a shift towards network-centric warfare, incorporation of green technologies, adoption of multi-domain operations (MD), focus on anti-submarine warfare (ASW) capabilities, and integration of modular design and mission flexibility.
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What are the Key Growth Drivers in the Naval Vessels and Surface Combatants Market?
Increasing maritime security threats are expected to fuel the growth of the naval vessels and surface combatants market. Maritime security threat refers to any breach of vessel security, from within or externally. Naval vessels and surface combatants are crucial in defending a country’s sovereignty against potential threats in the oceans and abysses by safeguarding accessible resources and coastal areas.
For instance, a report by the International Maritime Organization (IMO) in 2023 documented an increase in piracy and armed robbery against ships in the Straits of Malacca and Singapore. The reported number of incidents increased to 72 in comparison to the 70 incidents recorded in 2021 and 81% of these incidents involved targeting a moving ship within these straits. Hence, the rising maritime security threats are propelling the growth of the naval vessels and surface combatant market.
What are the Key Segments in the Naval Vessels and Surface Combatants Market?
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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Which Companies are Dominating the Naval Vessels and Surface Combatants Market?
Major companies operating in the naval vessels and surface combatants market include 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, and Bharati Defence and Infrastructure Limited
What Current Trends are Observed in the Naval Vessels and Surface Combatants Market?
Focus on indigenization is a key trend gaining popularity in the naval vessels and surface combatants market. Major players are increasingly focusing on indigenization to provide naval vessels and surface combatants services. Indigenization is being utilized to boost exports, reduce the cost of defense acquisitions, and achieve self-sufficiency. For instance, in June 2022, China achieved a significant milestone by launching its first indigenous aircraft carrier, the Type 003 carrier christened Fujian. In September 2022, India commissioned its first indigenously built aircraft carrier INS Vikrant.
Which Region is Leading in the Naval Vessels and Surface Combatants Market?
North America was the largest region in the naval vessels and surface combatants market share in 2024. However, 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.
What Does The Naval Vessels And Surface Combatants Market Report 2025 Offer?
Naval vessels and surface combatants are a type of naval warship equipped with armaments for fighting on the water’s surface. These are employed to hinder the enemy from moving military forces and, if required, to confront them. The Naval Vessels And Surface Combatants Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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