Warship and Naval Vessels Market Report by Type (Warships, Submarines, Aircraft Carriers), Application (Rescue, Defense, and Others), and Region 2024-2032

Warship and Naval Vessels Market Report by Type (Warships, Submarines, Aircraft Carriers), Application (Rescue, Defense, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A1127
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Market Overview:

The global warship and naval vessels market size reached US$ 67.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 108.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 67.5 Billion
Market Forecast in 2032
US$ 108.1 Billion
Market Growth Rate 2024-2032 5.2%


Warships and naval vessels are intently built to serve in war and belong to the naval forces of a country. Warships are much faster, safer and more maneuverable than merchant ships and represent a key component of a country’s naval force. Unlike merchant ships that carries cargo, warships are designed to carry only weapons, ammunition, and essential supplies for the crew onboard. Although warships and naval vessels belong to the navy; individuals, cooperatives, and corporations have also been operating them.

Warship and Naval Vessels Market

One of the biggest factors driving the global market for warships and naval vessels is the continuous growth in the global defense spending. Driven by a rise in regional conflicts, the global defense spending has been rising continuously in recent years. In 2018, the global defense spending reached around US$ 1.8 Trillion. This growth has been largely catalyzed by a rise in defense budgets by countries in the Asia Pacific and the Middle East regions, such as China, India and Saudi Arabia. Countries are currently spending extensively on upgrading and expanding their current fleet of naval vessels. Apart from participating in offensive operations against enemy forces, naval vessels are also involved in providing humanitarian assistance and disaster relief operations.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global warship and naval vessels market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on type and application.

Breakup by Type:

Warship and Naval Vessels Market

  • Warships
  • Submarines
  • Aircraft Carriers
     

Based on the type, the market has been segmented into warships, submarines and aircraft carriers. Warships currently represent the biggest segment.

Breakup by Application:

  • Rescue
  • Defense
  • Others
     

Based on the application, the market has been segmented into rescue, defense and others.

Breakup by Region:

Warship and Naval Vessels Market

  • North America
  • Asia Pacific
  • Europe
  • Middle East and Africa
  • Latin America
     

Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Babcock International Group, General Dynamics, Kawasaki Heavy Industries, Lockheed Martin, Mitsubishi Heavy Industries, CSIC, DSME, Fincantieri, Garden Reach Shipbuilders & Engineers, Hyundai Heavy Industries, Navantia, and Reliance Naval and Engineering Limited.

This report provides a deep insight into the global warship and naval vessels market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the warship and naval vessels market in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Babcock International Group, General Dynamics, Kawasaki Heavy Industries, Lockheed Martin, Mitsubishi Heavy Industries, CSIC, DSME, Fincantieri, Garden Reach Shipbuilders & Engineers, Hyundai Heavy Industries, Navantia, and Reliance Naval and Engineering Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global warship and naval vessels market reached a value of US$ 67.5 Billion in 2023.

According to the estimates by IMARC Group, the global warship and naval vessels market is expected to exhibit a CAGR of 5.2% during 2024-2032.

The rising geographical conflicts, along with the increasing investment in the defense sector by governments of several countries, represent one of the key factors bolstering the market growth.

The increasing utilization of warship and naval vessels for other purposes, such as disaster relief operations and humanitarian aid, is acting as a major trend in the market.

The market is currently experiencing negative growth due to lockdowns imposed by governments of several countries to contain the mass spread of the coronavirus disease (COVID-19) and disruptions in the operational efficiency of various manufacturing units around the world.

Based on the type, the market has been classified into warships, submarines and aircraft carriers.

On the basis of the application, the market has been segmented into rescue, defense and others.

Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Leading industry players are Babcock International Group PLC, General Dynamics Corporation, Kawasaki Heavy Industries, Ltd., Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., CSIC Group, DSME Co., Ltd., Fincantieri S.p.A., Garden Reach Shipbuilders & Engineers (GRSE) Ltd., Hyundai Heavy Industries Co., Ltd., Navantia, and Reliance Naval and Engineering Limited.

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Warship and Naval Vessels Market Report by Type (Warships, Submarines, Aircraft Carriers), Application (Rescue, Defense, and Others), and Region 2024-2032
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