The global naval vessels and surface combatants market size was valued at USD 429.10 billion in 2022. The market is projected to grow from USD 460.38 billion in 2023 to USD 674.81 billion by 2030, exhibiting a CAGR of 5.6 % during the forecast period.

The naval ship market is witnessing growth due to increasing utilization of armament systems and advanced ICT for surveillance, communication, and information gathering purposes. Fortune Business Insights presents this information in their report titled "Global Naval Vessels and Surface Combatants Market Size, Share, Growth and Forecast 2023–2030."

Major Players Profiled in the Report:

• BAE Systems (U.K.)
• Mazagon Dock Shipbuilders Limited (India)
• Garden Reach Shipbuilders and Engineers (GRSE) (India)
• Hyundai Heavy Industries Co. Ltd. (HHI) (South Korea)
• FINCANTIERI S.p.A. - Via Genova (Italy)
• General Dynamics Corp NASSCO (U.S.)
• Larsen & Toubro Ltd. (India)
• Navantia (Spain)
• ThyssenKrupp Marine Systems (Germany)
• Damen Shipyards Group (Netherlands)

Information Source:

https://www.fortunebusinessinsights.com/naval-vessels-and-surface-combatants-market-102695

Segments:

Destroyers Segment to Witness Rapid Growth Owing to Versatile Applications

By ship type, the market is segmented into destroyers, corvettes, submarines, amphibious ships, frigates, auxiliary vessels, and others. The destroyers segment is projected to be the fastest-growing in the market during the projected period, driven by its diverse applications in anti-submarine warfare, long-range attacks, and escort missions.