North America Naval Vessels Market Share

Market Share of North America Naval Vessels Industry

The naval vessel market is consolidated, with a handful of companies taking major revenue shares in the market. Some of the prominent players in the market are Lockheed Martin Corporation, General Dynamics Corporation, HII, Austal Limited, and Irving Shipbuilding Inc. 

Due to the availability of competent players in the US, it becomes difficult for new foreign players to enter and dominate the North American market. However, collaborations and partnerships between the players to support the naval vessel development programs of the naval forces may help the companies gain a strong and leading position in the market in the years to come. 

For instance, in September 2023, Maritime Partners ‘one of its managed funds, acquired Marine Management LLC (USMMI) from Maersk Line, Limited. USMMI is the owner and operator of US flag vessels, including one owned maritime support vessel, three owned tankers, and one bareboat chartered tanker, to charter to the US Navy's Military Sealift Command. It's also engaged in the operation and maintenance of US government vessels, as well as has a single contract for operations and maintenance related to US military training boats that are ongoing in Japan.

North America Naval Vessels Market Leaders

1. Lockheed Martin Corporation

2. Austal Limited

3. General Dynamics Corporation

4. Irving Shipbuilding Inc.

5. HII

*Disclaimer: Major Players sorted in no particular order