Warship And Naval Vessels Market CAGR to be at 9.6% from 2025 to 2029 | $116.61 Billion Industry Revenue by 2029
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The Business Research Company's Warship And Naval Vessels Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 10, 2025 /EINPresswire.com/ -- What Is The Projected Market Size & Growth Rate Of The Warship And Naval Vessels Market?
In recent years, the warships and naval vessels market size has expanded significantly. It is projected to increase from $73 billion in 2024 to $80.68 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%. This substantial rise during the historic period is credited to heightened maritime disagreements and conflicts among countries, an escalation in military spending, lower interest rates, and robust economic growth in developing markets.
A significant expansion is forecasted for the warship and naval vessels market in the forthcoming years, with projections suggesting it will reach a value of $116.61 billion in 2029, illustrating a compound annual growth rate (CAGR) of 9.6%. This predicted growth during the forecast period is primarily driven by factors such as escalating worldwide defense budgets, labor deficits, and rapid economic progress. The forecast period will see prominent trends including the use of eco-friendly materials, the incorporation of artificial intelligence and unmanned warships and naval vessels, the application of internet of things (IoT), as well as strategic alliances and investment initiatives.
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What Is The Crucial Factor Driving The Global Warship And Naval Vessels Market?
The surge in worldwide military expenditure is propelling the warship and naval vessels market. An upswing in global defense spending has been observed in recent years, primarily due to escalating regional conflicts across the globe. Nations are investing heavily in modernizing their military and naval crafts to protect their maritime claims and interests. As an example, the Stockholm International Peace Research Institute, an international organization based in Sweden, reported that global military expenditure amounted to about $2.29 trillion in 2022. This figure climbed to $2.44 trillion in 2023, representing a year-over-year increase of 6.8%.
Who Are The Emerging Players In The Warship And Naval Vessels Market?
Major players in the Warship And Naval Vessels Global Market Report 2025 include:
• General Dynamics Corporation
• Huntington Ingalls Industries Inc
• BAE Systems plc
• Lockheed Martin Corporation
• Fincantieri S.p.A
• ThyssenKrupp AG
• Hyundai Heavy Industries Co., Ltd
• Mitsubishi Heavy Industries
• Daewoo Shipbuilding & Marine Engineering Co. Ltd
• Austal
What Are Some Emerging Trends In The Warship And Naval Vessels Market?
The utilization of artificial intelligence (AI) in the industry of warships and naval vessels is on the rise. It is employed to decrease the need for crew members through automating many tasks and enabling faster decision-making. For example, in June 2022, China debuted its first unmanned drone carrier which relies on AI to independently navigate across open seas. The self-governing vessel can carry multiple underwater, airborne, and marine drones outfitted with a range of surveillance tools. Information from these autonomous systems can enhance China's ASW (anti-submarine warfare) abilities, aid surveillance and domain awareness, and assist PLA (People's Liberation Army) submarines in navigation.
What Segments Are Covered In The Warship And Naval Vessels Market Report?
The warship and naval vessels market covered in this report is segmented –
1) By Type: Warships, Submarines, Aircraft Carriers, Other Types
2) By Operation: Surface Fleet, Undersea Fleet
3) By Application: Rescue, Defense, Other Applications
4) By End Use: Destroyer, Frigate, Other End Users
Subsegments:
1) By Warships: Destroyers, Frigates, Corvettes, Amphibious Warfare Ships
2) By Submarines: Diesel-Electric Submarines, Nuclear Submarines
3) By Aircraft Carriers: Conventional Aircraft Carriers, Nuclear-Powered Aircraft Carriers
4) By Other Types: Patrol Vessels, Mine Countermeasure Vessels, Support And Auxiliary Vessels
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Which Region Is Projected To Hold The Largest Market Share In The Global Warship And Naval Vessels Market?
In 2024, North America dominated the global market for warship and naval vessels. However, the area projected to experience the most rapid growth is the Asia-Pacific region. The global market report for warship and naval vessels encompasses regions including North America, Western Europe, Eastern Europe, Asia-Pacific, South America, Middle East, and Africa.
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