Fast Attack Craft Market 2017–2023 : Global Drivers, Opportunities, Trends, and Forecasts

Market Highlights:

The global fast attack craft market is a very dynamic market and is expected to witness high growth over the forecast period. The global fast attack craft market is majorly driven by the increasing emphasis on maritime security. Many countries are in the process of augmenting their maritime security capabilities to ensure that illegal and hostile infiltration do not take place into their territories. Owing to budgetary constraints, several nations are delaying or canceling a number of development projects and procurement plans, especially in the case of expensive naval vessels. This is where the missile boats or torpedo boats, which are relatively low-cost platforms, come into picture. These vessels/warships/fast attack crafts are armed with anti-ship missiles and have been incorporated in the inventory of many navies, across the globe, which have low military expenses. Moreover, increasing the potency of naval arms and weapons requires the employment of larger projectiles, which mandates larger naval guns and consequently, larger platforms or ships that would carry these guns, and absorb their recoil. The increasing concerns related to the growth of sea based trade are also driving the growth of the market.

However, the growth of this market will be hampered by the issues related to the maintenance of the vehicles. The global fast attack craft market size is projected to grow at the 2% CAGR during the forecast period.

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Major key Players
BAE Systems plc. (U.K.),
Damen Shipyards Group (Netherlands),
Fincantieri - Cantieri Navali Italiani S.p.A. (Italy),
Goa Shipyard Limited (GSL),
Navantia (Spain),
China Shipbuilding & Offshore International Co Ltd (China),
CMN Group(France),
Garden Reach Shipbuilders and Engineers (India),
Hanjin Heavy Industries & Construction (South Korea),
Lürssen (Germany)

Of all types, the missile-armed FAC segment is projected to account for the largest market share. Missile boats are integrated with anti-ship missiles and are generally operated by the navies and the coast guards for anti-terrorist campaigns and border patrol missions. These boats deter the entry of any illegal ships/hostile ships into the host country's territorial or coastal waters. These boats generally support aircraft carriers and also thwart the hostile enemy boats, frigates, corvettes, and the littoral combat ships. They can also pose a threat to the larger naval ships with their long-range missiles.

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Scope of the report
This study provides an overview of the global fast attack craft market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Fast attack craft market by its type and region.
By Type
• Missile armed FAC
• Non-missile armed FAC
By Region
• North America
• Asia Pacific
• Europe
• Rest of the World

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