Fast Attack Craft Industry Set to Achieve $7.39 Billion Milestone by 2029 | Steady 6.1% CAGR

Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.

What Is the Long-Term Growth Forecast for the Fast Attack Craft Market Size 2025?
Over the past few years, the fast attack craft market size has seen a significant growth. It is projected to expand from $5.49 billion in 2024 to $5.82 billion in 2025, representing a compound annual growth rate (CAGR) of 6.1%. The growth in the previous years is primarily due to issues concerning maritime security, geopolitical tensions, safeguarding of exclusive economic zones (EEZ), addressing asymmetric threats, and modernization efforts of naval fleets.

What CAGR is Forecasted for the Fast Attack Craft Market Through 2029?
The market size of fast attack craft is projected to experience robust expansion in the coming years. It is estimated to reach $7.39 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.1%. The growth during this forecast period can be linked to factors such as rising naval threats, ongoing regional conflicts, emphasis on coastal defense, program upgrades, and naval force projection. Future trends within this period are expected to feature an increased utilization of composite materials, incorporation of advanced-generation sensors, prioritization of multi-mission capacities, collaborations and joint development initiatives, and measures focusing on sustainability and fuel efficiency.

Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/fast-attack-craft-global-market-report

What Are the Critical Factors Driving Fast Attack Craft Market Development?
The projected surge in maritime safety is set to catalyze the expansion of the fast attack craft market. The term maritime security entails the safeguarding of vessels and ensuring safety against sea-related crimes. Fast attack vessels play an integral role in maritime safety, especially in regions where ships and maritime operations necessitate protection against terrorism, theft, piracy, and forbidden trafficking of goods and individuals. For instance, the International Chamber of Commerce, headquartered in France, reported an increase in the number of piracy and armed robbery cases against ships in June 2023. A total of 65 incidents were logged in the first half of 2023, marking an increase from 58 incidents during the same timeframe in 2022. Consequently, maritime security's upliftment is spearheading the growth of the fast attack craft market.

Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10674&type=smp

How Does the Fast Attack Craft Market Break Down Across Major Segments?
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), Aftermarket
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

What Are the Major Trends Transforming the Fast Attack Craft Industry?
The primary trend emerging in the fast-attack craft market revolves around product innovation. Key players in this market are focusing on designing and launching cutting-edge, high-quality fast-attack crafts in order to remain competitive in the landscape. An example of this would be Indonesian-based North Sea Boats' introduction of KRI Golok, a stealth trimaran fast attack craft, made uniquely for the Indonesian Navy. Designed with a contemporary wave-piercing structure, this trimaran fast attack craft's (FAC) expansive beam facilitates stability and enables the vessel to split waves rather than maneuvering over them. This set of features minimizes pitching and rolling, creating a reliable weapons platform, where the craft can sustain impressive average speeds even in adverse weather, both safely and comfortably. The craft encapsulates stealth design features aimed at reducing detection by diminishing Radar, Infrared, Acoustic, and Magnetic signatures.

Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=10674&type=smp

Which Players Are Driving Innovation in the Fast Attack Craft Market?
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

Which Regions Are Driving Global Fast Attack Craft Market Expansion?
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

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.