Naval Destroyers and Submarines Market - By Type (Destroyers, Submarines), By System (Marine Engine Systems, Weapon Launch Systems, Control Systems, Electrical Systems, Communication Systems), By Application & Forecast 2023 - 2032
Published Date: February - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNaval Destroyers and Submarines Market - By Type (Destroyers, Submarines), By System (Marine Engine Systems, Weapon Launch Systems, Control Systems, Electrical Systems, Communication Systems), By Application & Forecast 2023 - 2032
Naval Destroyers and Submarines Market - By Type (Destroyers, Submarines), By System (Marine Engine Systems, Weapon Launch Systems, Control Systems, Electrical Systems, Communication Systems), By Application & Forecast 2023 - 2032
Naval Destroyers and Submarines Market Size
Naval Destroyers and Submarines Market was valued at over USD 100 million in 2022 and is anticipated to grow at a CAGR of 5.5% between 2023 and 2032.
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As tensions rise around the world, countries are putting more money into their military budgets, particularly in their navies. They're building and fixing up destroyers and submarines, which are important ships for protecting their interests at sea, keeping trade routes safe, and showing their strength. Geopolitical tensions and changing security threats are making countries worry about their navies. They want the best and most modern ships, like destroyers and submarines, because they can be used in many different ways. New technologies and systems, like stealth technology, better weapons, and underwater warfare capabilities, are making these ships even more valuable. This creates big business opportunities for companies that make these ships and weapons. Countries want to be the strongest at sea, so the market is growing. For example, in August 2023, India signed a $2.8 billion deal to build Fleet Support Vessels (FSVs) for its navy. Hindustan Shipyard Limited (HSL), a company in Vizag, will build five 45,000-ton warships, which will be the biggest ships ever built at the shipyard owned by the Ministry of Defense.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Naval Destroyers and Submarines Market Size in 2022 | USD 107.1 Million |
| Forecast Period | 2022 to 2032 |
| Forecast Period 2022 to 2032 CAGR | 5.5% |
| 2032 Value Projection | USD 180 Million |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 220 |
| Tables, Charts & Figures | 278 |
| Segments covered | Type, system, application, and region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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Hey, so buying new warships is like navigating a super complicated maze. It takes forever because you have to check everything a million times, talk to a bunch of people, and make sure it's all safe and legal. On top of that, you've got to follow strict rules for keeping everyone and the environment safe. But wait, there's more! Countries can sometimes be like, "Nah, we're busy with other stuff," or "We don't have enough money right now." And then there are the world events that can just flip everything upside down. All of this means it takes a lot longer to get these ships built. So what happens? Well, it can cost way more than you planned, the technology becomes outdated, and it's hard to keep up with all the bad guys out there trying to cause trouble in the ocean. That's no good if you want to have a strong navy!
COVID-19 Impact
The COVID-19 pandemic led to multifaceted impacts on the naval destroyers and submarines market. While defense spending remained robust in many countries, the disruptions in supply chains and production schedules due to lockdowns and restrictions affected the delivery of new vessels. The focus on healthcare and economic recovery also compelled some governments to temporarily divert resources from their defense budgets. The pandemic highlighted the vulnerability of military assets to global crises. It also reinforced the importance of naval capabilities in securing national interests and maintaining maritime security, potentially driving long-term investments in modernizing & expanding naval fleets.
Naval Destroyers and Submarines Market Trends
Many nations are focusing on modernizing their existing fleets of destroyers and submarines rather than building entirely new vessels. This includes the upgrading of sensors, weapon systems, and propulsion technologies. Submarines, especially advanced nuclear-powered ones, were in high demand due to their strategic importance in intelligence gathering, deterrence, and stealth operations. Several nations are expanding their submarine fleets.
The advancements in stealth technology, such as quieter propulsion systems and advanced hull designs, are a priority for both destroyers and submarines to reduce detection and enhance their effectiveness. The ongoing research & development in next-generation weapons systems including electromagnetic railguns and directed energy weapons will enhance the offensive & defensive capabilities of naval vessels. While defense spending is increasing in some regions, budget constraints and economic challenges are influencing procurement decisions, leading to a focus on cost-effective solutions.
Naval Destroyers and Submarines Market Analysis
Learn more about the key segments shaping this market
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Based on system, the market is divided into marine engine systems, weapon launch systems, control systems, electrical systems, and communication systems. The electrical systems segment the market in 2022, accounting for a share of over 8%.
- Electrical systems offer significant advantages in terms of energy efficiency, reduced acoustic signatures, and improved stealth. Advanced electric propulsion systems such as Integrated Electric Drive (IED) allow for quieter operations, enhancing the ability of submarines to remain undetected.
- Electrical systems enable the integration of high-power sensors, communication systems, and advanced weaponry, thereby enhancing the situational awareness and combat capabilities of vessels. The versatility of electrical systems also accommodates future technology upgrades, making it a strategic choice for the navies looking to maintain a competitive edge in modern naval warfare while reducing the reliance on traditional mechanical systems, which may be noisy and less efficient.
Learn more about the key segments shaping this market
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Based on the type, the market is segmented into destroyers and submarines. The destroyers segment is estimated to register a CAGR of over 5% through 2032.
- Modern destroyers are versatile assets that can perform multiple roles within a naval force. Equipped with advanced radar systems, they can defend against air threats, engage with surface vessels, and conduct anti-submarine operations. Such multi-mission capabilities reduce the need for specialized vessels and offer cost-efficiency, making destroyers a preferred choice for nations seeking flexibility in naval operations.
- The integration of cutting-edge technologies such as the Aegis combat system, which provides advanced command & control capabilities, enhances situational awareness and missile defense. The advanced sensors and missile systems also enable destroyers to counter threats at longer ranges with higher accuracy, thereby improving the overall effectiveness.
Looking for region specific data?
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In 2022, the countries of the Asia Pacific region took the lead in the worldwide market for warships such as destroyers and submarines, owning more than 40% of the total. This is because countries in the Asia Pacific region have been feeling increasingly tense with each other, especially in the South China Sea. As a result, they have been working to improve their navies. They need modern destroyers and submarines to keep their interests safe at sea and give them an advantage in strategy. The money that countries like China, India, Japan, and South Korea are spending on defense is going up, and this gives them the money they need to buy modern warships. Asia Pacific countries need a strong naval presence because they have long coastlines and important shipping lanes. This has led defense companies and manufacturers to work hard to meet the region's need for these ships, which has helped the market grow.
Naval Destroyers and Submarines Market Share
The players in the industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, as well as customer retention. These players also heavily invest in research & development initiatives to introduce innovative and technologically advanced solutions in the market. Some of the major players operating in the naval destroyers and submarines industry are mentioned below
- BAE Systems
- Daewoo Shipbuilding & Marine Engineering
- General Dynamics Electric Boat
- Huntington Ingalls Industries
- Mitsubishi Heavy Industries
- Naval Group
- ThyssenKrupp Marine Systems
Naval Destroyers and Submarines Industry News
- In September 2023, General Dynamics Electric Boat was awarded a delivery order worth USD 517.2 million against the formerly issued basic ordering agreement for procurement & delivery of the initial Virginia-class attack submarine spare parts to support maintenance availabilities. Work will be performed in Groton and Pawcatuck, Connecticut.
- 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.
The naval destroyers and submarines market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD million) from 2018 to 2032, for the following segments
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Market, by type
- Destroyers
- Submarines
Market, by system
- Marine engine systems
- Weapon launch systems
- Control systems
- Electrical systems
- Communication systems
Market, by application
- Search & rescue
- Combat operations
- MCM operations
- Coastal operations
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Naval destroyers and submarines market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2023-2032
2.3 Regional trends
2.4 Type trends
2.5 System trends
2.6 Application trends
Chapter 3 Naval Destroyers and Submarines Market Industry Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Increasing global defense spending
3.10.1.2 Growing demand for Anti-Submarine Warfare (ASW) capabilities
3.10.1.3 Rising focus on maritime security
3.10.1.4 Growing demand for submarines from emerging economies
3.10.1.5 Development of new technologies
3.10.2 Industry pitfalls & challenges
3.10.2.1 High development & production costs
3.10.2.2 Long procurement cycles
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 BAE Systems
4.3.2 Daewoo Shipbuilding & Marine Engineering
4.3.3 General Dynamics Electric Boat
4.3.4 Huntington Ingalls Industries
4.3.5 Mitsubishi Heavy Industries
4.3.6 Naval Group
4.3.7 ThyssenKrupp Marine Systems
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Naval Destroyers and Submarines Market Estimates and Forecast, By Type (USD Million)
5.1 Key trends, by type
5.2 Destroyers
5.3 Submarines
Chapter 6 Naval Destroyers and Submarines Market Estimates and Forecast, By System (USD Million)
6.1 Key trends, by system
6.2 Marine Engine System
6.3 Weapon Launch System
6.4 Control System
6.5 Electrical System
6.6 Communication System
6.7 Others
Chapter 7 Naval Destroyers and Submarines Market Estimates and Forecast, By Application (USD Million)
7.1 Key trends, by application
7.2 Search and Rescue
7.3 Combat Operations
7.4 MCM Operations
7.5 Coastal Operations
7.6 Others
Chapter 8 Naval Destroyers and Submarines Market Estimates and Forecast, By Region (USD Million)
8.1 Key trends, by region
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Rest of North America
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 ANZ
8.4.6 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Rest of Latin America
8.6 MEA
8.6.1 South Africa
8.6.2 Saudi Arabia
8.6.3 UAE
8.6.4 Rest of MEA
Chapter 9 Company Profiles (Business Overview, Financial Overview, Product Landscape, Strategic Outlook, SWOT Analysis)
9.1 BAE Systems
9.2 Daewoo Shipbuilding & Marine Engineering
9.3 Damen Group
9.4 DCNS
9.5 Fincantieri
9.6 General Dynamics Electric Boat
9.7 Huntington Ingalls Industries
9.8 Hyundai Heavy Industries
9.9 JSC United Shipbuilding Corporation
9.10 Kawasaki Heavy Industries
9.11 Larsen & Toubro Limited
9.12 Mazagon Dock Shipbuilders Limited
9.13 Mitsubishi Heavy Industries
9.14 Navyard Group
9.15 Reliance Naval Engineering
9.16 SAAB Group
9.17 Samsung Heavy Industries
9.18 ThyssenKrupp Marine Systems
- BAE Systems
- Daewoo Shipbuilding & Marine Engineering
- General Dynamics Electric Boat
- Huntington Ingalls Industries
- Mitsubishi Heavy Industries
- Naval Group
- ThyssenKrupp Marine Systems
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