Naval Vessels Market Size

Naval Vessels Market Size

The global naval vessels market was valued at USD 110.2 billion in 2024 and is estimated to grow at a CAGR of 6.7% from 2025 to 2034. Security threats have increased in many parts across the globe, and such threats have raised the need for offensive as well as defensive weapon systems.
 

The naval tactical role of hypersonic missiles has become increasingly important, and, as a result, planning for fleet modernization across the globe for better speed and precision in naval warfare has also increased. Types of submarines and naval vessels capable of accommodating these advanced systems are being developed, and other ships in use are being revamped for better performance. International maritime vessel construction is integrating towards modular multi-mission ships thus making the naval fleet into a multi-functional one equipped for bombing, missile interception, and information collection amongst many more roles.
 

The modern weapons of ships provide harmonization with unmanned vessels, satellites, and aircraft like never before. With AI integration, unmanned systems and autonomous devices minimize crew involvement considerably and enhance operational efficiency. Additional active sonar systems and noise control systems make modern submarines capable of operating in highly contested environments. The hulls of surface vessels are designed to be more agile and enhance their rapid reaction ability. All these characteristics signify a historical change toward more adaptive and agile naval forces.