Naval Vessels And Surface Combatants Market to Surpass $48.46 Billion by 2029 | Key Trends & Insights

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How Will the Naval Vessels And Surface Combatants Market Grow by 2025 in Terms of Size and Growth?
Over the past few years, there has been a consistent expansion in the market size of naval vessels and surface combatants. An increase from $39.13 billion in 2024 to $40.76 billion in 2025 is projected, corresponding to a compound annual growth rate (CAGR) of 4.2%. This growth during the historical period can be linked to factors such as the projection and deterrence of naval power, heightened international cooperation and naval alliances, an increased emphasis on multi-mission capabilities, advancements and expansion in fleet activities, as well as changes in naval strategies and principles.

What Are the Estimated Growth Rates for the Naval Vessels And Surface Combatants Industry Through 2029?
The market size for naval vessels and surface combatants is projected to witness consistent expansion over the next coming years. The market value is forecasted to reach $48.46 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.4%. This growth for the predicted period is due to factors such as the expansion of the naval shipbuilding industry, emphasis on integrated command and control systems, adaptation to asymmetric threats, increase in naval modernization schemes, and a transition towards electrification and energy efficiency. Key trends for this forecast period involve a shift towards network-centric warfare, the implementation of eco-friendly technologies, the adoption of multi-domain operations (MD), focus on anti-submarine warfare (ASW) capabilities, and the incorporation of modular design and mission flexibility.

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What Are the Strategic Drivers Boosting Naval Vessels And Surface Combatants Market Performance?
The rise in maritime security threats is predicted to fuel the expansion of the naval vessels and surface combatants market. These threats refer to any form of security breach on a ship, both internal and external. Naval vessels and surface combatants are essential in protecting a nation's sovereignty against potential dangers in the ocean and deep-sea areas by securing available resources and coastal regions. The International Maritime Organization (IMO), a UK-based specialist agency of the UN tasked with regulating shipping, reported in 2023 a surge in piracy and armed robbery against ships in the Straits of Malacca and Singapore, with the reported incidents rising to 72 from the documented 70 in 2021. Noteworthy is that roughly 81% of the incidents reported in 2022 were attacks on moving ships within these straits. Consequently, the escalating maritime security threats are spurring the growth of the naval vessels and surface combatant market.

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What Are the Segments in the Naval Vessels And Surface Combatants Market?
The naval vessels and surface combatants market covered in this report is segmented -

1) By Type: Aircraft Carrier, Battleship, Cruiser, Destroyer, Frigate, Destroyer , 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 : Fast Attack Craft, Coastal Defense Vessels
7) By Other Types: Corvettes, Patrol Boats, Amphibious Assault Ships

What Are the Key Adoption Trends in the Naval Vessels And Surface Combatants Market?
The rise in emphasis on indigenization is a predominant trend in the naval vessels and surface combatants market. Key players in this market are increasingly concentrating on indigenization when supplying naval vessels and surface combatants services. This tactic is used to enhance exports and reduce defense procurement costs. It also enables the production and manufacturing of defense equipment to achieve self-reliance and alleviate financial strain. For example, in June 2022, China successfully launched its maiden indigenous aircraft carrier, named the Type 003 carrier Fujian, and in September 2022, India introduced its first domestically constructed aircraft carrier, the INS Vikrant.

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Which Companies Lead the Competitive Landscape of the Naval Vessels And Surface Combatants Industry?
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

Where Are the Key Naval Vessels And Surface Combatants Market Opportunities by Region?
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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