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

The missile defense segment held the largest market share in 2019. Advanced naval defense systems are combining sensors, electronics, and modern weaponry to create robust missile protection. Countries such as the United States and Russia are focusing on integrated platforms to reduce infrared and radar signatures of warships that can reveal assets' positions to the enemy. Naval Missile Defense System such as Aegis, (developed by Lockheed Martin and Raytheon) is witnessing rapid adoption by countries such as the US, Japan, Canada, Spain, Norway, etc. Aegis System has introduced features such as open architecture and an open-source library capable of providing real-time data fleets in the combat area and leveraging for future improvements. The Aegis system will also propel the market for SM 3, SM 2, and SM 6 interceptor missiles for beyond and inside atmosphere interception of Intercontinental and Mid-Range ballistic missiles. Also, the demand for robust missile defense capabilities is increasing as countries try to mitigate threats for their assets on the sea. The US Naval Sea Systems Command awarded a USD 30.1 million contract to DRS Laurel Technologies in March 2020 for 59 AN/SPQ-9B missile defense system. Many naval vessel defense system manufacturers are now focusing on developing integrated missile defense systems that provide overall protection from nearly all kind of other aerial threats. For instance, the BARAK MX system developed by Israel Aerospace Industries uses BARAK MRAD, BARAK LRAD, BARAK ER missiles ranging from 35 kilometers to 150 kilometers. In addition to missile defense, it also protects aircraft (fighters, helicopters, and UAVs), cruise and ballistic missiles, and gliding bombs.