Naval Vessels & Surface Combatants

Global Naval Vessels & Surface Combatants Market to Reach US$581.2 Billion by 2030

The global market for Naval Vessels & Surface Combatants estimated at US$465.7 Billion in the year 2024, is expected to reach US$581.2 Billion by 2030, growing at a CAGR of 3.8% over the analysis period 2024-2030. Search & Rescue Application, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$210.0 Billion by the end of the analysis period. Growth in the Combat Operations Application segment is estimated at 3.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$125.6 Billion While China is Forecast to Grow at 7.2% CAGR

The Naval Vessels & Surface Combatants market in the U.S. is estimated at US$125.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$122.4 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.2% and 2.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.0% CAGR.

Naval Vessels & Surface Combatants - Key Trends and Drivers

Naval vessels and surface combatants play a critical role in maritime defense and power projection, comprising various classes of ships designed for different strategic purposes. These vessels include aircraft carriers, destroyers, frigates, corvettes, and patrol boats, each equipped with specific capabilities to address threats and perform missions ranging from anti-submarine warfare and air defense to surveillance and interdiction. Modern naval vessels are characterized by their advanced weaponry, radar, and communication systems, which enable them to operate effectively in complex and contested environments. The integration of stealth technology, automated systems, and modular design further enhances their operational flexibility and survivability. As geopolitical tensions and maritime disputes intensify, nations are investing heavily in their naval fleets to ensure maritime security and maintain a strategic edge.

Technological advancements are driving significant changes in the design and capabilities of naval vessels and surface combatants. Innovations in missile technology, electronic warfare, and unmanned systems are transforming how naval operations are conducted. Modern vessels are increasingly equipped with vertical launch systems (VLS) for versatile missile deployment, advanced sonar and radar systems for superior situational awareness, and electronic countermeasures to thwart enemy attacks. The development of autonomous and remotely operated vehicles (ROVs) extends the operational reach and capabilities of naval forces, enabling missions such as mine detection, surveillance, and reconnaissance without risking human lives. Additionally, advancements in propulsion systems, such as integrated electric propulsion (IEP) and hybrid systems, improve fuel efficiency and reduce acoustic signatures, making vessels more sustainable and harder to detect.

The growth in the naval vessels and surface combatants market is driven by several factors. Firstly, the increasing geopolitical tensions and maritime disputes, particularly in regions like the South China Sea and the Arctic, are prompting nations to bolster their naval capabilities. Secondly, the modernization and replacement of aging fleets are critical drivers, as many countries seek to upgrade their naval assets to maintain technological parity with potential adversaries. Thirdly, advancements in maritime technology and the growing threat of asymmetric warfare, including cyber threats and unmanned systems, necessitate the adoption of more advanced and resilient vessels. Additionally, the rise of regional powers and their ambitions to project power and secure maritime trade routes are contributing to heightened demand for capable and versatile naval platforms. As these factors converge, the market for naval vessels and surface combatants is poised for sustained growth and continuous innovation.

SCOPE OF STUDY:

The report analyzes the Naval Vessels & Surface Combatants market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Application (Search & Rescue Application, Combat Operations Application, Coastal Operations Application, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 48 Featured) -

• ASC Pty Ltd
• Austal Limited
• BAE Systems Plc
• EDGE Group PJSC
• FINCANTIERI S.p.A
• Garden Reach Shipbuilders and Engineers (GRSE)
• General Dynamics Mission Systems, Inc.
• Hanwha Group
• HD Hyundai Heavy Industries Co., Ltd.
• Huntington Ingalls Industries, Inc.
• Kongsberg Defence & Aerospace AS
• Lockheed Martin Corporation
• Mazagon Dock Shipbuilders Limited
• Naval Group
• thyssenkrupp Marine Systems GmbH

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