Press release
Sea based Defense Equipment Market 2024 Opportunity Assessment, Future Outlook, Competitive Landscape, Industry Insights And Forecast To 2033
Sea based Defense Equipment Market
The Business Research Company's Sea based Defense Equipment Global Market Report 2024 identifies Rising Terrorism Threat as the major driver for the Sea based Defense Equipment Market's growth in the forecast period. An increasing terrorism threat is expected to propel the growth of the sea-based defense equipment market going forward. Terrorism refers to the illegal use of physical force or other forms of violence against people or property for the sake of coercion, intimidation, or ransom. Sea-based defense equipment is used in maritime security operations to detect, deter, interdict, and defeat terrorist attacks, criminal acts, or hostile acts in the maritime domain.
The sea based defense equipment market size has grown strongly in recent years. It will grow from $59.79 billion in 2023 to $65.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to geopolitical tensions, modernization and upgrades, piracy and maritime security, technological advancements.
The sea based defense equipment market size is expected to see strong growth in the next few years. It will grow to $87.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to emerging threats, geopolitical shifts, asymmetric warfare, maritime trade growth, environmental concerns. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Major competitors in the Sea based Defense Equipment Market are General Dynamics Corporation, Huntington Ingalls Industries Inc., Naval Group, Bae Systems PLC, Fincantieri SpA, Northrop Grumman Corp, Leonardo SpA, Raytheon Co, Lockheed Martin Corporation, Mitsubishi Heavy Industries ltd., Bakewell-White Yacht Design Ltd., BMT Group Ltd., BMTI Composite Materials and Parts for Submarines, Radio Communication Antenna Systems, Boeing Defense, Space & Security, Bohai Shipbuilding Heavy Industry Co Ltd., Bolidt synthetic systems, Booz Allen Hamilton Holding Corp, Baltic Yachts Oy Ab Ltd., Data Modul AG, Decksmaschinen und Automation Vertriebs GmbH., Deep Trekker Inc., Defence Research and Development Organisation, Dell Technologies Inc., DeRegt Marine cables, Diagnostic Retrieval Systems Inc., ECA Group Ltd., Elbit Systems Intelligence and Electro-optics - Elop Ltd., Fincantieri S.p.A., FLIR Systems Inc., Fluidmecanica SA Inc., Kongsberg Defence & Aerospace.
A key trend in the Sea based Defense Equipment Market includes Strategic Collaborations. Major companies operating in the sea-based defense equipment industry are focused on adopting a strategic collaboration and partnership approach to collectively enhance their capabilities and address security challenges related to maritime and naval defense. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in February 2023, Lockheed Martin Corporation, a US-based aerospace corporation, partnered with the U.S. Navy, a US-based maritime service branch of the United States Armed Forces, to integrate hypersonic strike capability onto surface ships. Through this partnership, the US Navy awarded Lockheed Martin a contract worth more than $2 billion to build a sea-based hypersonic weapon system. Under the terms of this agreement, Lockheed Martin, the prime contractor, will supply this naval platform with launcher systems, weapon control, All Up Rounds (AURs), which are integrated missile components, and platform integration support.
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The Sea based Defense Equipment Market is segmented -
1) By Type: Battle Force Ships, Submarines (including Nuclear Submarines)
2) By Operation: Autonomous Sea based Defense Equipment, Manual
3) By Application: Search And Rescue, Combat Operations, Mcm Operations, Coastal Surveillance, Others
Subsegments Covered: Aircraft Carriers, Frigates, Destroyers, Corvettes, Torpedo Boats, Support crafts, SSN Submarine, SSBN Submarine, SSK Submarine
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Sea based Defense Equipment Market.
The Business Research Company's "Global Sea based Defense Equipment Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Sea based Defense Equipment Market Include:
1. Executive Summary
2. Sea based Defense Equipment Market Characteristics
3. Sea based Defense Equipment Product/Service Analysis -Product/Service Examples
4. Sea based Defense Equipment Market Trends And Strategies
5. Sea based Defense Equipment Market - Macro Economic Scenario
……
68. Global Sea based Defense Equipment Market Competitive Benchmarking
69. Global Sea based Defense Equipment Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Sea based Defense Equipment Market
71. Sea based Defense Equipment Market Future Outlook and Potential Analysis
72. Appendix
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