Sep 4, 2017

The naval vessels and surface combatants market is generally split into five segments:  corvettes, frigates, destroyers, amphibious ships, and aircraft carriers. During 2017-2027, the market is predicted to be dominated by corvettes, which is able to account for 25.7% of the market, followed by destroyers, frigates, aircraft carriers and amphibious ships, with shares of 23.6%, 23.5%, 14.2%, and 13% respectively. Global naval vessels and surface combatants market is projected to grow at a CAGR of 2.97%, to reach US$48.8 billion by 2027 and cumulatively worth US$446.7 billion according to market research and data., North America is forecast to dominate the global market with a share of 39.5%, followed by Asia Pacific and Europe, with shares of 27.7% and 23.2%. The Middle Eastern marketplace for naval vessels and surface combatants is projected to account for 5.0% of the global naval vessels and surface combatants market, followed by the Latin American and African markets with shares of 3.1% and 1.5% respectively.

High levels of spending by rising economies within the Asia Pacific region, such as India and China is predicted to be determined by the demand for naval vessels and surface combatants. The North American region is expected to take care of its leading position, exhibiting a gradual pace of growth over the forecast period

Global naval warfare exhibits a paradigm shift, due to increasing trend towards the decentralization of naval attacks.  Thus, competences are distributed around smaller vessels in addition to larger platforms like aircraft carriers and destroyers to make them more secure against an enemy attack. This has inspired governments around the world to spend on smaller surface combatant which are capable of operating in littoral waters, and advanced weapons and communication systems to enable these ships to perform multiple missions. Moreover, providing humanitarian relief, emergency medical aid, and combating smuggling, piracy, and act of terrorism, has resulted in the continuous evolution of the role of naval vessels and surface combatants. The changing trend of naval vessels and surface combatants has motivated manufacturers to develop more vessels with strategic sea-lift and amphibious operations capabilities, which led to number of vessels allowing to serve more than one role.

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