Naval Combat Vessels Market Size

Naval Combat Vessels Market size was valued at USD 103.05 billion in 2023 and is likely to cross USD 228.02 billion by 2036, registering more than 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of naval combat vessels is estimated at USD 108.24 billion.

Naval combat vessels are warships used by a navy for naval warfare and they differ from civilian ships by construction and purpose. They are designed for combat with submarines or aircraft and can accomplish other missions related to counter-narcotics operations and maritime interdiction operations (MIO). The increase in next-generation naval systems, such as unmanned underwater vehicles (UUVs) is driving revolutionary study in artificial intelligence (AI) underwater communications, autonomous navigation, and unmanned swarm technologies. The effect of huge spending on developing AI for undersea structures signifies the paramount change in military sea power since the introduction of nuclear-powered vessels.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of naval combat vessels is estimated at USD 108.24 billion.

Naval Combat Vessels Market size was valued at USD 103.05 billion in 2023 and is likely to cross USD 228.02 billion by 2036, registering more than 6.3% CAGR during the forecast period i.e., between 2024-2036.

North America industry is predicted to account for largest revenue share by 2036, due to growing Â incorporation of advanced combat systems into naval vessels and increasing government spending to ensure a powerful defense system globally.

The major players in the market are BAE Systems, Lockheed Martin Corporation, Raytheon Technologies Corporation, General Dynamics Corporation, SaaB AB, Huntington Ingalls Industries, Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., Boeing, and others.

Naval Combat Vessels Market Size