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Major Force in the Sea based Defense Equipment Market 2025: Surge In Defense Expenditure Boosts Growth Of Sea-Based Defense Equipment Manufacturing
Sea based Defense Equipment Market Size
In the past few years, there has been robust growth in the market size of sea-based defense equipment. The market, which is projected to increase from $38.41 billion in 2024 to $41.89 billion in 2025, will experience a compound annual growth rate (CAGR) of 9.1%. Factors such as geopolitical tensions, modernization and improvements, piracy and maritime security concerns, as well as technological developments are responsible for the growth witnessed during the historic period.
The market size of sea-based defense equipment is predicted to experience robust expansion in the coming years. The market is projected to scale up to $55.26 billion by 2029, with a compound annual growth rate (CAGR) of 7.2%. Factors such as increasing threats, geopolitical changes, asymmetric warfare, the growth of maritime trade, and environmental issues contribute to the growth in the projected period. The main trends during the forecast period consist of electrification and lightweighting, the use of advanced materials, additive manufacturing, digitization and connectivity, and collaborations and partnerships.
What Key Elements Are Boosting Growth in the Sea based Defense Equipment Market?
The sea-based defense equipment market's expansion is projected to be fuelled by a rise in defense spending. This refers to the overall spending by a government on its military operations and forces. Defense spending equips defense organizations with the financial means to develop, purchase, and sustain sea-based defense equipment, allowing countries to effectively respond to emerging threats and improve their maritime security capabilities. For example, the Ministry of Defence (MOD) departmental resources: 2022, which was published by the UK-based public information site gov.UK in December 2022, revealed that defense expenditure for the period 2021-2022 rose to $76.25 (71.4 Euros) billion, a $46.88 (43.9 Euros) billion increase from the past year. As a result, the surge in defense spending is propelling the growth of the sea-based defense equipment market.
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Who Are the Major Industry Players Fueling Sea based Defense Equipment Market Expansion?
Major companies operating in the sea based defense equipment market include 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.
Which Key Developments Are Influencing the Sea based Defense Equipment Market?
Leading firms in the worldwide sea-based defense equipment market are introducing cutting-edge technology such as autonomous navigation and operation. This allows vehicles to navigate and complete tasks independently using a combination of sensors, AI algorithms, and control systems to interact with their surroundings and make immediate decisions. For example, Austal USA's shipyard, an American manufacturing company, unveiled the Vanguard autonomous surface vessel (OUSV3) in January 2024. This vessel, which was created specifically for autonomous operations, marks a significant leap forward in the Navy's abilities with unmanned maritime systems. The Vanguard will be used for a range of tasks, including surveillance and reconnaissance, and is designed to work in tandem with other ships in the Navy's USV Division 1 (IFOAM) (OIE). The vessel is part of the Overlord program, which is intended to advance the Navy's experimental and operational understanding of unmanned systems.
How Is the Segmentation of the Sea based Defense Equipment Market Defined?
The sea based defense equipment market covered in this report 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:
1) By Battle Force Ships: Aircraft Carriers, Destroyers, Frigates, Amphibious Assault Ships, Corvettes
2) By Submarines (including Nuclear Submarines): Attack Submarines, Ballistic Missile Submarines, Nuclear-Powered Submarines, Diesel-Electric Submarines
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What Is the Leading Region in the Sea based Defense Equipment Market?
Asia-Pacific was the largest region in the sea-based defense equipment market in 2023. Western Europe is expected to be the fastest growing region in the forecast period. The regions covered in the sea-based defense equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
What Is Covered In The Sea based Defense Equipment Global Market Report?
- Market Size Analysis: Analyze the Sea based Defense Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Sea based Defense Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Sea based Defense Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Sea based Defense Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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