Global Fast Attack Craft Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers

1 Aug, 2023

The global fast-attack craft market size is expected to grow from $4.86 billion in 2022 to $5.22 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fast-attack craft market size is expected to reach $6.70 billion in 2027 at a CAGR of 6.4%.

Global Fast Attack Craft Market Key Driver

A surge in marine security is projected to take the fast attack craft industry ahead in the coming years. Maritime security refers to the protection of ships and the prevention of maritime crimes. A swift attack vessel aids in maritime security by protecting ships and maritime activities from threats such as terrorism, robbery, piracy, and illegal trafficking of commodities and people.

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Global Fast Attack Craft Market Segments

The global fast attack craft market is segmented:
1) By Type: Missile Armed Fast Attack Craft (FAC), Non-Missile Armed Fast Attack Craft (FAC), Other Types
2) By Weapon: Missile, Torpedo, Gun, Other Weapons
3) By Distribution Channel: OEM (Original Equipment Manufacturer), Aftermarket
4) By Application: National Defense, Technical Research, Fighting, Other Applications
5) By Geography: The regions covered in the fast attack craft market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global fast attack craft market.

Major Fast Attack Craft Industry Players

BAE Systems plc, Lürssen, Navantia SA, CMN Group, China Shipbuilding And Offshore International Co. Ltd., Garden Reach Shipbuilders and Engineers Ltd., Damen Holding B.V., Fincantieri S.p.A., Goa Shipyard Limited, Hanjin Heavy Industries and Construction Holdings Co. Ltd., Mitsubishi Heavy Industries Ltd., Daewoo Shipbuilding and Marine Engineering Co Ltd, Fassmer GmbH and Co. KG, Kangnam Corporation, L&T Shipbuilding Limited

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Fast Attack Craft Market Overview

Fast-attack craft refers to a high-speed, multi-role warship equipped with anti-ship missiles, guns, and torpedoes, and is able to operate in both anti-air and surface combat situations and warfare activities. The fast attack craft's design uses modern stealth technologies to diminish infrared, radar, magnetized, and noise signatures, lowering the risks of discovery and increasing the ship's operating effectiveness.

Fast Attack Craft Global Market Report 2023 provides data on the global fast attack craft market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fast attack craft market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.