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Naval Combat Systems Market Size (2024 - 2029)

The naval combat systems market is expected to experience growth driven by the increasing demand for new naval vessels, spurred by fleet modernization programs across global armed forces. The market's expansion is further supported by the rising investments in directed energy weapons, such as laser systems, on naval vessels. However, the market's growth is challenged by its capital-intensive nature, characterized by high R&D costs, and disruptions in the global supply chain due to the COVID-19 pandemic.

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Market Size of Naval Combat Systems Industry

Naval Combat Systems Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR > 2.50 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

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*Disclaimer: Major Players sorted in no particular order

Naval Combat Systems Market Analysis

The Naval Combat Systems Market is poised to grow at a CAGR of over 2.5% during the forecast period (2022-2027).

The COVID-19 pandemic has resulted in several supply chain constraints on a global scale which has escalated the cost of acquisition for several naval programs. With shipyard workers being exposed to COVID-19 infection, the overall attendance declined by 50% during the peak of the pandemic, which resulted in the slight extension of deadlines for the completion of several shipbuilding programs.

The naval combat systems market is driven by the demand for new naval vessels as a result of the envisioned and ongoing fleet modernization programs of the global armed forces.

Currently, the navies have robustly increased their investments towards the development and deployment of directed energy weapons on board the naval vessels. This trend of installing laser weapon systems is anticipated to accelerate the growth of the market during the forecast period.

However, the inherent capital-intensive nature of the industry due to the associated high cost of R&D and the recent COVID-19-induced disruption in the global supply chain are some of the factors that hinder the growth of the market in focus during the forecast period.

Naval Combat Systems Industry Segmentation

The naval combat systems market encompasses the traditional aspects of defense forces categorization, including the procurement, upgrade, and modernization plans for naval assets to enhance the prowess of global armed forces. The study assimilates data from annual defense budget allocations of various countries to develop a comprehensively detailed overview of the current naval defense capabilities of the countries. The Naval Combat Systems Market is segmented based on Type, Platform, and Geography. By Type, the market is segmented into Weapon Systems, Electronic Warfare, and C4ISR. By Platform, the market is segmented into Aircraft Carrier, Destroyers, Frigates, Corvettes, Submarine, and Other Platforms. Other Platforms include Support Vessels, Patrol Boats, and Amphibious Ships. The report also covers the market sizes and forecasts for the market in major countries across different regions. The market sizing and forecasts have been provided in value (USD billion).

Type
Weapon Systems
Electronic Warfare
C4ISR
Platform
Aircraft Carrier
Destroyers
Frigates
Corvettes
Submarine
Other Platform
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle-East and Africa
Saudi Arabia
Israel
Egypt
Rest of Middle-East and Africa
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Naval Combat Systems Market Size Summary

The naval combat systems market is experiencing a steady growth trajectory, driven by the increasing demand for new naval vessels and the modernization of existing fleets by global armed forces. This growth is further fueled by the robust investments in directed energy weapons, such as laser systems, which are being integrated into naval vessels to enhance their combat capabilities. Despite the positive outlook, the market faces challenges due to its capital-intensive nature, high research and development costs, and disruptions in the global supply chain caused by the COVID-19 pandemic. The C4ISR segment is anticipated to witness significant growth, supported by investments in upgrading command and control systems and communication technologies to improve naval operations.

The Asia-Pacific region is expected to lead the market growth, driven by substantial investments in naval fleet expansion and modernization amid ongoing geopolitical tensions, particularly in the South China Sea. Countries like China and Indonesia are actively enhancing their naval capabilities by acquiring new vessels and upgrading existing ones with advanced weapon systems. Prominent industry players, including Leonardo S.p.A., Lockheed Martin Corporation, and Raytheon Technologies Corporation, are collaborating to develop innovative combat systems, which are expected to boost market growth and revenue. These partnerships, along with the integration of advanced technologies, are poised to enhance the mission capabilities of naval forces worldwide during the forecast period.

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Naval Combat Systems Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size and Forecast by Value - USD billion, 2018 - 2027)

    1. 2.1 Type

      1. 2.1.1 Weapon Systems

      2. 2.1.2 Electronic Warfare

      3. 2.1.3 C4ISR

    2. 2.2 Platform

      1. 2.2.1 Aircraft Carrier

      2. 2.2.2 Destroyers

      3. 2.2.3 Frigates

      4. 2.2.4 Corvettes

      5. 2.2.5 Submarine

      6. 2.2.6 Other Platform

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Latin America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 Rest of Latin America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Israel

        3. 2.3.5.3 Egypt

        4. 2.3.5.4 Rest of Middle-East and Africa

Naval Combat Systems Market Size FAQs

The Naval Combat Systems Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)

Lockheed Martin Corporation, Thales Group, General Dynamics Corporation, Raytheon Technologies Corporation and Leonardo S.p.A. are the major companies operating in the Naval Combat Systems Market.

Naval Combat Systems Market Report Snapshots

Naval Combat Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)