The Asia-Pacific surface warships market is evaluated to record a CAGR of 3.12% over the projected years of 2022 to 2030, acquiring a revenue share of $16.91 billion by 2030.

The market growth of the region is attributable to the rising number of naval programs, significant investment in research and development, and the increasing expenditure on fleet modernization. However, regulations on the import and export of electronic components are likely to challenge the Asia-Pacific surface warships market growth.

To know more about this report, request a free sample copy

The Asia-Pacific surface warships market growth evaluation entails the in-depth assessment of India, South Korea, Indonesia, North Korea, China, Japan, Myanmar, Vietnam, and Rest of Asia-Pacific. China presently possesses the largest naval fleet globally in terms of sheer numbers. Moreover, the strategic balance in the Asia-Pacific is shifting, primarily on account of the substantial growth of destroyers, submarines, and frigates. Currently, the People’s Liberation Army (PLA) fleet has 400 warships and submarines, and this number is expected to increase to more than 530 submarines as well as warships by the year 2030. In 2021, China commissioned significant navy vessels, including an amphibious helicopter carrier and a guided-missile cruiser. The Type 075 amphibious helicopter carrier Hainan and the Type 055 guided-missile cruiser Dalian have joined the country’s navy as well.

On the other hand, by 2021, seven guided-missile destroyers belonging to the Project 15A class in India are scheduled to be constructed. Formerly known as the Air Defense Ship, the first aircraft carrier of the Vikrant class (Project 71) was launched in 2013. Although the anticipated in-service date was initially set for 2019, it was implemented in the following year. Furthermore, while a second vessel of the same type with an IOC of 2030 is envisaged, seven Project 17a (Shivalik) Frigates are anticipated to go into service between 2022 and 2025. As a result, these factors are expected to reinforce the surface warships market growth in the Asia-Pacific during the forecast period.

The Asia-Pacific surface warships market is segmented into vessel type, component, and operation. The operation segment includes attack, surveillance & intelligence, logistics, amphibious, and others. The surging frequency of naval drills globally accounts for the significant growth of the attack segment. Moreover, in 2019, the Navy of Qatar’s Emir, as well as the Indian Navy, performed a three-day naval exercise termed Za’ir-Al-Bahr. The maritime surveillance, interdiction operation, air defense, and anti-terrorism operation were key parts of the naval exercise.

Geospatial data accumulated by warship sensors are integral for the development of network-centric warfare, thus facilitating enhanced situational awareness, rapid target assessment, as well as distributed weapon assignment. Aligning with this, the integrated sensor and communications suite developed by Thales Netherlands incorporates radar and electro-optical subsystems, radio and data-link communication systems, and IFF in an individual unit.

Some of the key companies operating in the Asia-Pacific surface warships market include BAE Systems, Hyundai Heavy Industries, etc.

Hyundai Heavy Industries, headquartered in South Korea, is one of the largest ship-building companies globally, spun off from its parent firm Hyundai Group in 2002. The company has four core business divisions, namely, industrial plant & engineering, ship-building, engine & machinery, and offshore & engineering. Moreover, it also has five non-core related subsidiaries: Hyundai Construction Equipment, Hyundai Heavy Industries Green Energy, Hyundai Electric & Energy Systems, Hyundai Robotics, and Hyundai Global Service.

Report Synopsis

To request a free sample copy of this report, please complete the form below:

We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.