The global naval vessels and surface combatants market size will reach USD 44.2 billion in 2023, according to a new report by GlobalData Plc. Disputes over offshore territories and maritime boundaries, abetted by the need to exploit offshore resources, are expected to be a major driver regarding the strengthening of naval capabilities for many countries. As per several news reports, China has been claiming a major swathe of territory in the South China Sea and is procuring several patrol vessels to be used in this area. This in turn will drive surrounding Asian countries to improve their naval capabilities to deter the growing maritime influence of China. Such naval capabilities strengthening initiatives undertaken by countries across the globe are expected to drive market growth.
Global Naval Vessels and Surface Combatants Market Share By Ship Type, 2023 – 2033 (%)
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The development and adoption of Unmanned Surface Vehicles (USV) is expected to revolutionize naval warfare. Technological advancements in communication, navigation, and artificial intelligence (AI) have enabled defense manufacturing companies to effectively develop advanced USVs for undertaking complex missions such as Intelligence, Surveillance and Reconnaissance (ISR) and mine-hunting, among others. The USVs can operate autonomously in a network centric environment and are anticipated to significantly enhance the operational capability of manned platforms.
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Naval Vessels and Surface Combatants Market Report Highlights
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GlobalData Plc has segmented the naval vessels and surface combatants market report by ship type and region:
Global Naval Vessels and Surface Combatants Ship Type Outlook (Revenue, USD Million, 2023-2033)
Naval Vessels and Surface Combatants Regional Outlook (Revenue, USD Million, 2023-2033)
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