The growing maritime and territorial disputes among several nations is primarily driving the growth of global naval combat system market.
According to TechSci report on, “Naval Combat System Market – By Region, Competition Forecast & Opportunities, 2027”, the naval combat system market is anticipated to register lucrative growth with formidable CAGR over the forecast period of 2023-2027. Ongoing technological advancements and modernization of the existing naval fleets are majorly contributing to market growth and are providing potential opportunities to the key market players to upgrade naval combat systems. In addition to this, several market players are working together to develop innovative and advanced combat systems to enhance the mission capabilities by integrating different spheres of technologies in the naval combat system. For instance, BAE System PLC, Saab AB, and Lockheed Martin Corporation are currently working together to deliver a naval combat system for Hunter class frigates to Australia. Furthermore, the integration of laser weapon systems in old naval vessels for precise targeting is further providing a positive outlook to the market. Apart from this, the increasing territorial, and maritime disputes between the several nations are augmenting the demand for efficient naval combat systems. Countries such as China, India, Russia, the UK, France, and Canada own naval fleets, which are rapidly ageing and require replacement to enhance the battleship capabilities. This has initiated the need for modernization or replacement of outdated fleets. In addition, the demand for naval combat systems is growing due to the ongoing counter-piracy efforts in extremely affected maritime shipping routes such as the Gulf of Aden and Malacca Straits. All these initiatives and product advancements are anticipated to bolster the global naval combat market in the coming years.
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The global naval combat system market is segmented by type, vessel, competitive landscape, and regional distribution. Based on the type, the market is segmented into weapon system, electronic warfare, C4ISR, and other. The C4ISR segment is anticipated to hold a significant market share in the coming years due to the growing investments for the modernization of current communication and command &control management systems in the naval vessels to improve the battleship capabilities. Moreover, governments of several nations are investing in upgrading country’s naval weapons. For instance, Saudi Arabia invested USD18 billion for the Royal Saudi Navy’s command and control and intelligence system of networking. With the allocated fund, the navy will facilitate the upgradation of hardware, and software that supports the naval forces such as country’s small marine and naval special contingents. Such initiatives are projected to fuel the C4ISR segment and propel the overall global naval combat system market.
By vessel type, the market is divided into aircraft carriers, destroyers, frigates, corvettes, submarines, and others. Among these, the frigates segment is expected to hold a significant market share over the coming years. This is due to the quick maneuverability and the ability of frigates to protect large warships from sir, surface, and underwater threats. Moreover, frigates are highly efficient and effective in anti-submarine warfare (AWS) for merchant convoys and expeditionary forces.
A list of major market players of the global naval combat market includes:
- BAE Systems Plc
- General Dynamics Mission Systems Inc.
- Safran SA
- Elbit Systems Ltd.
- L3Harris Technologies Inc.
- Northrop Grumman Corp.
- Saab AB
- Lockheed Martin Corp.
- Raytheon Technologies Corp.
- Thales Group
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“On the geographical front, North America is projected to lead the market in the coming years owing to the presence of key market players such as General Dynamics Mission Systems Inc. and Lockheed Martin Corp. in the region. However, the Asia-Pacific region is anticipated to register rapid growth during the forecast period. This is because of the high maritime tensions between various countries in the region in the South China Sea. China is going forward with its naval fleet modernization plans in order to deal with rising territorial and maritime disputes. Disputes with India, the South China Sea, and the Taiwan Straits have forced China and India to expand their naval power. According to a report by Congressional Research Service, China is projected to launch more than four aircraft carriers and more than 39 cruisers and destroyers between 2020-2040. Hence, increasing focus of government to strengthen their military is expected to fuel the growth of the global naval combat systems market in the coming years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Naval combat system Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Weapon Systems, Electronic Warfare, C4ISR, Others), By Vessel Type (Aircraft Carrier, Destroyers, Frigates, Corvettes, Submarine, Others), By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa), and Region” has evaluated the future growth potential of naval combat system market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in naval combat market.
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