Indigenization Trend Shapes Global Naval Vessels And Surface Combatants Market Industry Trends Gaining Momentum in the Global Naval Vessels And Surface Combatants Market

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Naval Vessels And Surface Combatants Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the naval vessels and surface combatants market has shown consistent growth in the past few years. The market size is projected to expand from $39.13 billion in 2024 to $41.02 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.8%. Factors contributing to this historic growth include increased priorities towards naval power projection and deterrence, enhanced international cooperation and naval alliances, a focus shift towards multi-mission capabilities, the execution of modernization and fleet expansion schemes, and modifications in naval strategies and doctrine.

Naval Vessels And Surface Combatants Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the market for naval vessels and surface combatants is anticipated to experience consistent growth, expanding to $49.38 billion in 2029 with a compound annual growth rate (CAGR) of 4.7%. This growth during the projection period can be linked to the expansion in the naval shipbuilding industry, the emphasis on integrated command and control systems, the adaptation to asymmetric threats, the increase in naval modernization programs, and the shift to electrification and energy efficiency. The forecast period is also expected to witness key trends such as a move towards network-centric warfare, the introduction of green technologies, the adoption of multi-domain operations (MD), a focus on anti-submarine warfare (ASW) capabilities, and the integration of modular design and mission flexibility.

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What Are the Drivers Transforming the Naval Vessels And Surface Combatants Market?
The expected rise in threats to maritime security is predicted to push forward the growth of the naval vessels and surface combatants market. The term maritime security threat generally applies to any infringement of security on a vessel, both from within and from outside. To defend the nation's sovereignty from potential threats lurking in the oceans and deep-sea areas, naval vessels and surface combatants are utilized, as they protect accessible resources and coastal territories. For instance, a report by the International Maritime Organization (IMO), a branch of the UN based in the UK, responsible for monitoring shipping, stated that piracy and armed theft against vessels in the Straits of Malacca and Singapore witnessed a surge in 2023, with the number of reported incidents escalating to 72 from 70 incidents in 2021. Importantly, nearly 81% of the incidents in 2022 involved an attack on a ship in motion within these straits. Therefore, the rise in maritime security threats is fueling the growth of the naval vessels and surface combatant market.

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What Long-Term Trends Will Define the Future of the Naval Vessels And Surface Combatants Market?
One primary trend gaining traction in the naval vessels and surface combatants market is an increased emphasis on indigenization. The major stakeholders in this market are shifting their focus towards indigenization as a means to improve the provision of naval vessels and surface combatant services. The use of indigenization is not only helpful for boosting exports but can also help decrease the cost of defence purchases. It allows for the production and manufacture of defence equipment locally, thereby achieving self-sufficiency and reducing financial strain. For example, a significant milestone was reached in June 2022 when China launched its first locally built aircraft carrier, the Type 003 carrier named Fujian. Additionally, in September 2022, India also commissioned its first homegrown aircraft carrier, the INS Vikrant.

Which Segments in the Naval Vessels And Surface Combatants Market Offer the Most Profit Potential?
The naval vessels and surface combatants market covered in this report is segmented -

1) By Type: Aircraft Carrier, Battleship, Cruiser, Destroyer, Frigate, Destroyer Esc*ort, Other Types
2) By System: Marine Engine System, Weapon Launch System, Sensor System, Control System, Electrical System, Auxiliary System
3) By Application: Search And Rescue, Combat Operations, Mine Countermeasures (MCM) Operations, Coastal Surveillance, Other Applications

Subsegments:
1) By Aircraft Carrier: Nuclear-Powered Aircraft Carriers, Conventionally-Powered Aircraft Carriers
2) By Battleship: Main Battleships, Light Battleships
3) By Cruiser: Guided Missile Cruisers, Anti-Aircraft Cruisers
4) By Destroyer: Guided Missile Destroyers, Multi-Role Destroyers
5) By Frigate: Anti-Submarine Warfare Frigates, General Purpose Frigates
6) By Destroyer Esco*rt: Fast Attack Craft, Coastal Defense Vessels
7) By Other Types: Corvettes, Patrol Boats, Amphibious Assault Ships

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Which Firms Dominate the Naval Vessels And Surface Combatants Market by Market Share and Revenue in 2025?
Major companies operating in the naval vessels and surface combatants market are Huntington Ingalls Industries Inc., General Dynamics Corporation, Damen Shipyards Group, Naval Group, BAE Systems PLC, Navantia SA, Fincantieri SpA, Daewoo Shipbuilding & Marine Engineering Co. Ltd., United Shipbuilding Corporation, China State Shipbuilding Corporation, Eastern Shipbuilding Group, Cochin Shipyard Ltd., Mitsubishi Heavy Industries Ltd., Marine Engineering Co. Ltd., Larsen & Toubro Ltd., Lockheed Martin Corporation, ThyssenKrupp Marine Systems, Lürssen Werft GmbH & Co. KG, Mitsui Engineering & Shipbuilding, Saab Group, Kockums AB, Hyundai Heavy Industries, Oshkosh Defense LLC, STX Offshore & Shipbuilding Co. Ltd., Singapore Technologies Engineering Ltd., Boustead Naval Shipyard, Ishikawajima Heavy Industries Corporation, Shipyard De Hoop, Austal Limited, Bharati Defence and Infrastructure Limited

Which Regions Offer the Highest Growth Potential in the Naval Vessels And Surface Combatants Market?
North America was the largest region in the naval vessels and surface combatants market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the naval vessels and surface combatants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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