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The global naval vessels and surface combatants market is expected to grow at a CAGR of 2.60% between 2024 and 2032, driven by the rapid advancements of modern naval vessels and rising naval expenditure of the emerging economies.
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Naval vessels and surface combatants are advanced and upgraded warships which are typically deployed at the time of war. Apart from attacking or defending a territory, naval vessels and surface combatants can also aid troops by providing ammunition and fuel. Ranging from frigates and corvettes to destroyers and amphibious ships, naval vessels and surface combatants can be of several types and can operate in toughest terrains.
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Based on platform, the market can be segmented into aircraft carriers, destroyers, corvettes, amphibious ships, frigates, and auxiliary vessels. On the basis of system, the market can be classified into marine engine system, weapon launch system, sensor system, control system, electrical system, auxiliary system, and communication system, among others. Based on application, the market is categorised into search and rescue, combat operations, MCM operations, and costal surveillance, among others. The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global naval vessels and surface combatants market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
The aircraft carrier platform, holds a significant share in the naval vessels and surface combatants market. Aircraft carriers are crucial in the navy to bolster maritime security. It provides cover for naval soldiers carrying out an operation, launch strikes on a threat, act as a responsive airbase, and can also act as a provider of humanitarian aid.
In addition, aircraft carriers are considered as a symbol of greatness by some sovereign military powers such as the United Kingdom. In emerging economies of the Asia Pacific, such as India, top-notch aircraft carriers such as Vikrant, are being commissioned which are adding to the growth of the global market for naval vessels and surface combatants.
The combat operations application accounts for a healthy share of the market for naval vessels and surface combatants. The increasing investments by the emerging military powers, aimed towards enhancing their sea attack capabilities amidst the escalating geopolitical tensions, is propelling the market growth.
Naval vessels and surface combatants such as cruise missile submarines are power houses which can augment the security of the country. Over the forecast period, the anticipated increase in demand for ballistic missiles submarines, littoral combat ships, assault ships, frigates, and destroyers, among others, are expected to aid the naval vessels and surface combatants market growth.
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ADSB or Abu Dhabi Ship Building company deals with the development, repair, and maintenance of commercial and naval vessels. The company was established in the year 1996 and is currently headquartered in Abu Dhabi in the United Arab Emirates. ADSB has networks across 21 countries and develops a wide range of naval vessels including offshore patrol vessels, corvettes, and multi-role combatants, among others.
Austal Limited is a prominent shipbuilding company based in Henderson, Australia that was founded in 1988. It is a prime contractor for defence, and a maritime technology partner for the design, construction, and support of both military and commercial vessels. Some of the notable vessels of Austal Limited include high-speed passenger ferries and patrol boats.
BAE Systems Plc was founded in 1999 and is currently headquartered in the United Kingdom. It specialises in advanced technology for defence applications that are used to protect people, nations, information, and infrastructure. The company is responsible for the development of products related to international defence, aerospace, and national security. It innovates in electronics and information technology solutions.
Other market players include General Dynamics Corporation, Damen Shipyards Group, Hyundai Heavy Industries Co., Ltd., and Mazagon Dock Shipbuilders Limited, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to grow at a CAGR of 2.60% in the forecast period of between 2024 and 2032.
The rapid technological advancements in modern naval vessels such as unmanned warships, rising naval expenditure of emerging economies, increasing geopolitical tensions, and increasing efforts by various governments to boost the attack capabilities of combat ships, are the major drivers of the market.
The key trends in the naval vessels and surface combatants market include the emergence of modern technologies and use of 3D printing which are enabling the time and cost-effective development of naval vessels with complex designs.
The types of platforms for naval vessels and surface combatants are aircraft carriers, destroyers, corvettes, amphibious ships, frigates, and auxiliary vessels.
The different systems for naval vessels and surface combatants are marine engine systems, weapon launch systems, sensor systems, control systems, electrical systems, auxiliary systems, and communication systems, among others.
The main purpose of naval vessels and surface combatants is to protect a coastal territory of a sovereign nation. They can also carry out search and surveillance operations and attack enemy targets.
The main three categories of naval vessels and surface combatants are submarines, cruisers, and carriers.
Surface combatants can be deployed for over three years.
ADSB, Austal Limited, BAE Systems Plc, General Dynamics Corporation, Damen Shipyards Group, Hyundai Heavy Industries Co., Ltd., and Mazagon Dock Shipbuilders Limited, among others, are the key market players, according to the report.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
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+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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