The global Naval Vessels market is anticipated to grow at a considerable CAGR of 12.8% during the forecast period (2022-2028). Aircraft carriers are the largest warships in the naval fleet as they require a large amount of deck room, and this factor is accelerating the demand for naval vessels. For instance, China’s People’s Liberation Army Navy (PLAN) has commissioned the Dalian Industry Shipbuilding Company to build a new aircraft carrier class. This aircraft can hold up to 38-40 aircraft in total. Further, the Indian Navy is also planning to develop and acquire its third aircraft carrier (IAC-2) to supplement the INS Vikramaditya and the INS Vikrant.
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Moreover, rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in August 2021, the Ukrainian government announced a three-phase plan to build a new naval fleet by 2035. The first stage is expected to be completed by 2024, the second phase by 2030, and the final stage by 2035. The modernization plan includes the construction of the naval base in Berdyansk and the development, construction, and induction of indigenously manufactured corvettes, military boats, and small submarines.
Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Vessel Type
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- General Dynamics Corp, ThyssenKrupp AG, BAE Systems PLC, The Naval Group, and Abu Dhabi Ship Building Co.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Naval Vessels Market Report Segment
By Vessel Type
- Destroyers
- Frigates
- Submarines
- Corvettes
- Aircraft Carriers
- Other Vessel Types
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Naval Vessels Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Babcock International Group PLC
- China Shipbuilding Industry Co
- DSME
- Fincantieri
- Garden Reach Shipbuilders & Engineers
- General Dynamics
- Hyundai Heavy Industries
- Kawasaki Heavy Industries
- Lockheed Martin Corp
- Mazagon docs Ltd
- Mitsubishi Heavy Industries
- Navantia
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