Naval Gun Market

Naval Gun Market

Growth Factors of Naval Gun Market

The naval gun market size was valued at USD 2.41 billion in 2023, and the market is now projected to grow from USD 2.56 billion in 2024 to USD 4.45 billion by 2032, exhibiting a CAGR of 8.2% during the forecast period of 2024-2032.

The COVID-19 pandemic had a huge effect on the naval gun which affected the global supply chain normal production process. Queues and limits had an effect on the acquisition of parts and supplies for ongoing military ventures and defense spending as a result of lockdowns and restrictions. Furthermore, reduction of military expenditure in some areas of the world brought focus changes; consequently, it affected the pace of naval gun modernization programs. But the pandemic has also led governments’ worldwide reconsider their defense approaches and boosts naval development. After the pandemic, countries are actively insisting on enhancing maritime security, and the naval gun market is gradually restored and adjusted to new requirements.

The naval gun market in 2024 has some of the following trends; Include advanced technologies such as automation and artificial intelligence to improve target acquisition and application. At present, there is increasing focus on creating lightweight and multifunctional platforms for different vehicles including unmanned ships. Also, the flexibility aspect is driving manufacturers to work on creating multi-caliber naval guns in battle conditions. There are changes in advanced smart munitions and guidance systems due to operational requirements of improved precision and faster delivery times. Also it has been observed that sustainability aspects are in practice when it comes to selecting materials.

The naval gun market is influenced by factors such as; growing aspirations on enhancing naval platforms and defense power across the world. Tensions in the international system along with growing concern for maritime security are pressuring countries to fortify their naval forces by improving their weapons arsenal. Microprocessors, computerization in the gun systems, robotics, and incorporation of smart technology of even automated aiming, and precision targeting systems are taking the market growth of naval guns to new heights. Also, the emergence of new operational requirements and strategies is driving the need for complex and multifunctional systems, which has caused manufacturers to pay much attention to introducing improved or new products to the market.. The above-mentioned factors are driving the naval guns market growth.

Comprehensive Analysis Naval Guns Market

The classification of naval weapon system involves a variety of system such as fully automatic and semi-automatic systems. These are further sub categorized based on the caliber with differences made for systems of less than 50 mm, 50 to 100mm , and greater than 100mm, Platforms are divided into large surface combatants & small surface combatants and based on operational specifications. Core sub-assemblies of these systems are turret systems; radar systems, tracking systems, and ammunition drum to support combat efficiency. Such a dual-threefold classification is helpful for elucidating specific types of naval armaments and their uses in the present and prospective warfare at sea.

North America holds the highest market share of naval gun market because of existence major defense players and increased government spending on naval equipment. US Navy’s plan to strengthen overall maritime power in response to increasing global security threats creates a market need for modern naval guns. Also, there is constant research and development of ideas to help the region to advance in the development of weapon technologies. Additional support from governments and private sectors makes the market more developed and secure for North America to advance the navies’ defense system and military strategies.

BAE Systems plc (U.K.), Bharat Heavy Electricals Limited (BHEL) (India), Leonardo S.p.A. (Italy), Lockheed Martin Corporation (U.S.), MBDA (France), Northrop Grumman Corporation (U.S.), Raytheon Technologies Corporation (U.S.), Rheinmetall AG (U.S.), SAAB AB (Sweden), Thales Group (France)

In particular, in 2024, it is observed that the naval gun market is aimed at the creation of electromagnetic guns, including rail guns that operate due to the use of magnetic fields and are capable of launching projectiles at hypersonic speed. Due to the possibility of performing accuracy strikes on elongated distances and the relatively lower operational expenses, relative to conventional artillery, this new technology is receiving increased consideration. Furthermore, the incentive is now made for modular gun systems, which can be easily integrated or changed and used on unmanned platforms such as vessels. Potential is also given to smart munitions with refined target identification and recognition systems, which are important in the contemporary naval operations.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 8.6% from 2024 to 2032

Unit Value (USD million)

Segmentation By Product Type

Laser Fluorescence Caries Detector

Trans illumination Caries Detector

By End-user

Solo Practices

DSO/ Group Practices

Others

By Region

North America (By Product Type, By End-user, By Country)

• U.S.
• Canada

Europe (By Product Type, By End-user, By Country/Sub-Region)

• U.K.
• Germany
• France
• Italy
• Spain
• Scandinavia
• Rest of Europe

Asia Pacific (By Product Type, By End-user, By Country/Sub-Region)

• Japan
• China
• India
• Australia
• Southeast Asia
• Rest of Asia Pacific

Rest of the World


Please Note: It will take 5-6 business days to complete the report upon order confirmation. Show more