2022-11-25 13:35:42

Naval Vessels and Surface Combatants Market Size to reach USD 53.2 Billion By 2032 Growing at 3.2% CAGR | GlobalData Plc

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Naval Vessels and Surface Combatants Market 2021-2032

Naval Vessels and Surface Combatants Market 2021-2032

LONDON, UK, November 25, 2022 /EINPresswire.com/ -- The global naval vessels and surface combatants market size reached USD 35.9 billion in 2021, according to a new report by GlobalData Plc. Disputes over offshore territories and maritime boundaries, abetted by the need to exploit offshore resources, are expected to be a major driver regarding the strengthening of naval capabilities for many countries. As per several news reports, China has been claiming a major swathe of territory in the South China Sea and is procuring several patrol vessels to be used in this area. This in turn will drive surrounding Asian countries to improve their naval capabilities to deter the growing maritime influence of China. Such naval capabilities strengthening initiatives undertaken by countries across the globe are expected to drive market growth.

View Report Outlook at: https://www.globaldata.com/store/report/naval-vessels-and-surface-combatants-market-and-trend-analysis/

Global Naval Vessels and Surface Combatants Market Share By Ship Type, 2021 2032 (%)

The development and adoption of Unmanned Surface Vehicles (USV) is expected to revolutionize naval warfare. Technological advancements in communication, navigation and artificial intelligence (AI) have enabled defense manufacturing companies to effectively develop advanced USVs for undertaking complex missions such as Intelligence, Surveillance and Reconnaissance (ISR), and mine-hunting, among others. The USVs can operate autonomously in a network-centric environment and are anticipated to significantly enhance the operational capability of manned platforms.

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Naval Vessels and Surface Combatants Market Report Highlights

The global naval vessels and surface combatants market is projected to witness a CAGR of 3.2% from 2022 to 2032, reaching a value of $53.2 billion by 2032. Technological advancements such as Adoption of Electromagnetic Aircraft Launch System (EMALS) is expected to drive the global demand.
In 2021, frigate ship type in the naval vessels and surface combatants market captured a significant share with the market size projected to exceed US$ 15 billion by 2032 at a CAGR of approximately 3% from 2022 to 2032.
Destroyer captured approximately 12% of the overall market revenue in 2021 and is expected to record a healthy growth rate of more than 5% over the forecast period. Russia is expected to be the second largest spender on the destroyer segment in the region, driven by the countrys acquisition of Lider-class (Project 23560) vessels over the forecast period.

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The USs dominance in the naval vessels market is influenced by the countrys affinity for advanced military platforms in order to maintain an edge over its adversaries. The country is presently undertaking multiple high-value programs to procure new-generation naval vessels.
The naval vessels and surface combatants market key players analyzed as part of this report BAE Systems Plc, China State Shipbuilding Corp Ltd, Damen Shipyards Group, Fincantieri SpA, Huntington Ingalls Industries Inc, Lockheed Martin Corp, Mitsubishi Heavy Industries Ltd, Naval Group, ThyssenKrupp AG, and United Shipbuilding Corp, among others.

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GlobalData Plc has segmented the naval vessels and surface combatants market report by ship type and region:

Naval Vessels and Surface Combatants Ship Type Outlook (Revenue, USD Million, 2021-2032)
Aircraft Carrier
Amphibious Ship
Auxiliary Vessel
Corvette
Destroyer
Frigate
Light Combat Vessel

Naval Vessels and Surface Combatants Regional Outlook (Revenue, USD Million, 2021-2032)
North America
U.S.
Canada

Europe
UK
Germany
France
Italy
Russia
Spain
Turkey
Rest of Europe

Asia Pacific
China
India
Japan
Australia
Indonesia
South Korea
Taiwan
Rest of Asia Pacific

Central & South America
Brazil
Mexico
Peru
Rest of Central & South America

Middle East & Africa
United Arab Emirates (UAE)
Saudi Arabia
Qatar
Morocco
Iran
Rest of Middle East & Africa

Download Sample PDF: https://www.globaldata.com/store/talk-to-us/?report=3248310

Related Reports

https://www.globaldata.com/store/report/the-global-naval-vessels-and-surface-combatants-market-2014-2024-country-analysis-market-profile/

https://www.globaldata.com/store/report/the-global-naval-vessels-and-surface-combatants-market-2014-2024-swot-analysis-market-profile/

About us

GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData's mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

Mark Jephcott
GlobalData Plc
+44 20 7936 6400
mark.jephcott@globaldata.com
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