Reports

Global Naval Vessels Market: By Vessel Type: Destroyers, Frigates, Submarines, Corvettes, Aircraft Carriers, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Naval Vessels Market Outlook

The global naval vessels market stood at a value of around USD 73.4 billion in 2021. The market is further expected to grow at a CAGR of 13.74% in the forecast period of 2023-2028 to reach USD 158.7 billion by 2027.

 

Increasing Demand for Frigates to Aid the Global Naval Vessels Industry

The frigate segment based on vessel type accounts for a significant share in the market owing to its quick manoeuvrability and the ability to protect other large warships from air, surface, and underwater threats. In addition to this, frigates are highly effective in anti-submarine warfare (ASW) for amphibious expeditionary forces and merchant convoys. On the other hand, the aircraft carrier segment is estimated to witness a steady growth in the forecast period because of the rising investments by the major economies to bolster the carrying, arming, deploying, and covering facilities for an aircraft.

 

Global Naval Vessels Market

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North America Accounts for the Largest Share in the Market

The United States of America possesses a large number of naval vessels and has been increasing the budget for maintaining and advancing its military capabilities. The country is likely to increase its maritime capabilities by developing more aircraft carriers, frigates, corvettes, and submarines. Moreover, the growing export of naval vessels owing to the rising demand for efficient and durable warships from developing economies is anticipated to boost the market growth in North America in the forecast period.

 

Naval Vessels: Market Segmentation

A naval vessel is defined as a type of ship used by the naval force of a country. It is also known as a warship or troop ship and can be floated, steered, or moved in the ocean or sea.

Based on vessel type, the market can be segmented into:

  • Destroyers
  • Frigates
  • Submarines
  • Corvettes
  • Aircraft Carriers
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increasing Military and Naval Expenditure in Major Economies of the World to Boost the Growth of the Naval Vessels Industry

The global naval vessels industry is driven by the increasing government expenditure to expand maritime capabilities in major economies of the world. This can be attributed to the rising geopolitical tensions, increasing terrorism, and growing awareness pertaining to the protection of citizens from naval threats in the sovereign nations. Furthermore, the growing risk of potential maritime disputes owing to the ideology of expansionism is likely to boost the demand for naval vessels. The market will further be aided by the rising investments by governments to curb the cases of smuggling and human trafficking. Hence, the market is likely to witness a healthy growth in the forecast period.

 

Key Industry Players in the Global Naval Vessels Market

The report gives a detailed analysis of the following key players in the global naval vessels market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • BAE Systems Plc
  • General Dynamics Corporation
  • ThyssenKrupp AG
  • Abu Dhabi Ship Building Co.
  • Hyundai Heavy Industries Co. Ltd.
  • Others

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.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Vessel Type, Region
Breakup by Vessel Type Destroyers, Frigates, Submarines, Corvettes, Aircraft Carriers, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered BAE Systems Plc, General Dynamics Corporation, ThyssenKrupp AG, Abu Dhabi Ship Building Co., Hyundai Heavy Industries Co. Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Naval Vessels Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Naval Vessels Historical Market (2018-2022) 
    8.3    Global Naval Vessels Market Forecast (2023-2028)
    8.4    Global Naval Vessels Market by Vessel Type
        8.4.1    Destroyers
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Frigates
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Submarines
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Corvettes
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
        8.4.5    Aircraft Carriers
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2018-2022)
            8.4.5.3    Forecast Trend (2023-2028)
        8.4.6    Others
    8.5    Global Naval Vessels Market by Region       
        8.5.1    North America
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022) 
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Europe
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022) 
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Asia Pacific
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022) 
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Latin America
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022) 
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Middle East and Africa
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022) 
            8.5.5.3    Forecast Trend (2023-2028) 
9    North America Naval Vessels Market  Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Naval Vessels Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Naval Vessels Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Naval Vessels Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Naval Vessels Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    BAE Systems Plc
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    General Dynamics Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    ThyssenKrupp AG
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Abu Dhabi Ship Building Co.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Hyundai Heavy Industries Co. Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        12.2.6    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Naval Vessels Market: Key Industry Highlights, 2018 and 2028
2.    Global Naval Vessels Historical Market: Breakup by Vessel Type (USD Billion), 2018-2022
3.    Global Naval Vessels Market Forecast: Breakup by Vessel Type (USD Billion), 2023-2028
4.    Global Naval Vessels Historical Market: Breakup by Region (USD Billion), 2018-2022
5.    Global Naval Vessels Market Forecast: Breakup by Region (USD Billion), 2023-2028
6.    North America Naval Vessels Historical Market: Breakup by Country (USD Billion), 2018-2022
7.    North America Naval Vessels Market Forecast: Breakup by Country (USD Billion), 2023-2028
8.    Europe Naval Vessels Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    Europe Naval Vessels Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Asia Pacific Naval Vessels Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Asia Pacific Naval Vessels Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Latin America Naval Vessels Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Latin America Naval Vessels Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Middle East and Africa Naval Vessels Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Middle East and Africa Naval Vessels Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Global Naval Vessels Market Structure

Key Questions Answered in the Report

In 2021, the global naval vessels market attained a value of nearly USD 73.4 billion.

The market is estimated to grow at a CAGR of 13.74% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 158.7 billion by 2027.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. Among these, North America accounts for the largest share in the market.

The major drivers of the industry, such as the increasing defence expenditure by the major economies and the growing risk of terrorism, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the growing expansion of major naval vessel manufacturers, coupled with the favourable government policies.

Destroyers, frigates, submarines, corvettes, and aircraft carriers, among others are the major segments based on vessel type.

The major players in the industry are BAE Systems Plc, General Dynamics Corporation, ThyssenKrupp AG, Abu Dhabi Ship Building Co., and Hyundai Heavy Industries Co. Ltd., among others.

Analyst Review

The global naval vessels market attained a value of USD 73.4 billion in 2021, driven by the rising defence expenditure in emerging economies of the world. Aided by the growing research and development activities by the leading manufacturers, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13.74%. The market is projected to reach USD 158.7 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on vessel type, the market is divided into destroyers, frigates, submarines, corvettes, and aircraft carriers, among others. The major regional markets for naval vessels are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America dominating the overall market. The key players in the above market include BAE Systems Plc, General Dynamics Corporation, ThyssenKrupp AG, Abu Dhabi Ship Building Co., and Hyundai Heavy Industries Co. Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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