Global Fast Attack Craft Market to Reach $7.46 Billion by 2029, Growing at 6% CAGR

What market dynamics are playing a key role in accelerating the growth of the fast attack craft market?
An increase in maritime security is anticipated to boost the fast attack craft market's expansion. Maritime security involves safeguarding vessels and ensuring safety against sea crimes. Fast attack crafts contribute to maritime security by providing protection for ships and maritime operations from threats such as terrorism, theft, piracy and illegal transportation of goods and people. For example, in June 2023, the International Chamber of Commerce, based in France, reported an uptick in piracy and armed theft incidents against vessels, with 65 incidents recorded in the first half of the year, compared to 58 incidents during the same period in 2022. As a consequence of enhanced maritime security, the fast attack craft market is experiencing growth.

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How will the growth rate of the fast attack craft market shape industry trends by 2034?
The market size for fast attack craft has seen substantial growth in the past few years. It is estimated to rise from $5.49 billion in 2024 to $5.85 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. Factors such as concerns over maritime security, geopolitical conflicts, safeguarding of exclusive economic zones (EEZ), coping with asymmetric threats, and upgrading of naval fleets have contributed to the growth during the historic period.

In the coming years, significant expansion is projected for the fast attack craft market, which is forecasted to reach $7.46 billion by 2029, showcasing a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this predicted upswing in the defined period include emerging naval challenges, ongoing regional conflicts, an emphasis on coastal defense, upgrade schemes, and naval force projection. The period will also see major trends such as the amplified use of composite materials, incorporation of advanced generation sensors, emphasis on multi-misson capabilities, collaborative and joint developmental programs, and initiatives targeting sustainability and fuel efficiency.

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What trends are poised to drive the future success of the fast attack craft market?
The principal trend emerging in the fast-attack craft sector is the increasing focus on product innovation. To secure their market presence, the major companies in this field are creating high-quality, innovative attack crafts. For example, North Sea Boats, an Indonesian boat making firm, introduced the KRI Golok, a stealth trimaran fast attack craft for the Indonesian Navy. The craft has an updated wave-piercing design and an extended beam for enhanced stability, enabling the vessel to slice through waves as opposed to rising over them. It leads to decreased pitching and rolling, providing a more stable weapons platform. The vessel can be maneuvered at higher average speeds in tough weather conditions as a result. Additionally, it incorporates stealth design aspects that minimize the chances of detection by reducing Radar, Infrared, Acoustic, and Magnetic signatures.

Which primary segments of the fast attack craft market are driving growth and industry transformations?
The fast attack craft market covered in this report is segmented -

1) By Type: Missile Armed Fast Attack Craft (FAC), Non-Missile Armed Fast Attack Craft (FAC), Other Types
2) By Weapon: Missile, Torpedo, Gun, Other Weapons
3) By Distribution Channel: OEM (Original Equipment Manufacturer), After market
4) By Application: National Defense, Technical Research, Fighting, Other Applications

Subsegments:
1) By Missile Armed Fast Attack Craft (FAC): Guided Missile Boats, Anti-Ship Missile Platforms, Surface-To-Surface Missile Armed FAC
2) By Non-Missile Armed Fast Attack Craft (FAC): Gunboats, Patrol Boats, Interceptor Boats
3) By Other Types: Hybrid Fast Attack Craft, Unmanned Fast Attack Craft, Support And Auxiliary Craft

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Which geographical regions are pioneering growth in the fast attack craft market?
Asia-Pacific was the largest region in the fast-attack craft market in 2024. The regions covered in the fast attack craft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the influential players reshaping the fast attack craft market landscape?
Major companies operating in the fast attack craft market include BAE Systems plc,Fr. Lurssen Werft GmbH,Navantia SA,CMN Group,China Shipbuilding And Offshore International Co. Ltd.,Garden Reach Shipbuilders and Engineers Ltd.,Damen Holding B.V.,Fincantieri S.p.A.,Goa Shipyard Limited,Hanjin Heavy Industries and Construction Holdings Co. Ltd.,Mitsubishi Heavy Industries Ltd.,Daewoo Shipbuilding and Marine Engineering Co. Ltd.,Fassmer GmbH and Co. KG,Kangnam Corporation,L&T Shipbuilding Limited,Northrop Grumman Corporation,Austal Limited,Huntington Ingalls Industries Inc.,Lockheed Martin Corporation,General Dynamics Corporation,Boustead Naval Shipyard Sdn. Bhd.,COTECMAR,EDGE PJSC Group,Israel Shipyards Ltd.,Hyundai Heavy Industries Co. Ltd.,Kawasaki Heavy Industries,Mazagon Dock Shipbuilders Limited,Swiftships LLC,ThyssenKrupp Marine Systems,United Shipbuilding Corporation,Karachi Shipyard & Engineering Works Limited,Thales Group

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What Is Covered In The Fast Attack Craft Global Market Report?

• Market Size Forecast: Examine the fast attack craft market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the fast attack craft market for a structured understanding.
• Key Players Overview: Analyze major players in the fast attack craft market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fast attack craft market.
• Segment Contributions: Evaluate how different segments drive overall growth in the fast attack craft market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fast attack craft market.
• Industry Challenges: Identify potential risks and obstacles affecting the fast attack craft market.
• Competitive Landscape: Review strategic developments in the fast attack craft market, including expansions, agreements, and new product launches.

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