ID: MRFR/A&D/2430-HCR | 110 Pages | Published By Sejal Akre on March 2023
The use of naval guns has been increasing since the commencement of World War II and has been dominating the naval industry. Naval guns are used for several purposes such as anti-piracy, warning shots, shore bombardment, surface warfare, anti-air warfare, and Littoral warfare. The development of advanced missile technology has led it to be expensive; as a result of this, the popularity of missile technology is declining. Guns are being preferred over missiles owing to their cost-effectiveness and large number of rounds available. Furthermore, gun shells cannot be shot down by missiles, and electronic jamming and decoys are useless against guns. Moreover, they can engage targets extremely close to the ship. The emergence of variety of radar, optronic, and IR sensors to guide gunfire is expected to improve the effectiveness and accuracy of gunfire. However, the shortcomings in operating performance of the naval gun systems and their high development costs are factors that are expected to hamper the growth of the market.
Naval guns are indispensable on a warship and are increasingly becoming advanced and powerful. Furthermore, guns and ammunition are becoming smarter and deadlier, as well. They are no longer a traditional mounting on a ship, but an absolute necessity. In the 21st century, the missiles started replacing naval guns in various roles, but now we can observe that naval guns have started replacing missiles to a large extent in many roles.
The factors responsible for the growth of the naval gun system market are the increased average defense budget, increasing cross border threats, and increasing procurement of naval gun. The significant technological development in the naval gun system market has resulted in reduced operational and capital costs. For instance, BAE Systems signed a contract with the US Navy to provide modernized Mk 45 guns. The Mk 45 is the lightest, most compact naval gun and is most widely deployed in the US Navy and other allied navies. Similarly, Thales Group signed a contract with the French Navy to provide support for all deployment contexts such as 12.7 mm and 20 mm guns and other weapons.
The global naval gun system market is projected to grow at 4.0% CAGR during the forecast period, 2019 to 2025.
Segmentation of the Global Naval Gun System Market
Based on platform, the global market has been segmented into large ships, medium ships, and small ships. The large ships segment accounted for the largest market share in 2018 and is expected to witness the highest CAGR during the forecast period, 2019 to 2025. Increased operational usage of heavy naval guns is driving the demand for large ships in the market.
Based on weapon type, the global market has been divided into rail gun and laser gun. The rail gun segment accounted for a larger market share in 2018 and is expected to witness a higher CAGR during the forecast period owing to the widespread usage of rail gun in naval industry for naval surface warfare and land attack.
Based on caliber size, the global market has been divided into < 100 mm, 100–200 mm, and >200 mm. The < 100 mm segment dominated the market in 2018 and is expected to witness the highest CAGR during the forecast period due to the perfect balance of range and high effectiveness for attacking land targets at long range. For instance, the Italian Oto Melara, Russian Ak-176, Chinese Ak-176 are popular naval guns in this caliber size which provide them with a significant amount of firepower, engage surface and aerial targets with equal effectiveness.
Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2018. However, Asia-Pacific is expected to grow with the highest CAGR during the forecast period, 2019 to 2025 due to increasing terrorism incidences and border threats.
The key players in the global naval gun system market are BAE Systems plc (UK), Lockheed Martin Corporation (US), Raytheon Company (US), Saab AB (Sweden), Thales Group (France), General Dynamics Corporation (US), Kratos Defense & Security Solutions, Inc. (US), Israel Military Industries (Israel), L-3 Technologies, Inc. (US), Northrop Grumman Corporation (US), PIT-RADWAR S.A. (Poland), Bohemia Interactive Simulations (US), Meggitt PLC (UK), Boeing (US), and Israel Aerospace Industries (Israel) .
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
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The key growth inducers in the global market include increased average defense budget, increasing cross border threats, and increasing procurement of naval gun. The significant technological development in the naval gun system market has resulted in reduced operational and capital costs.
The market can expect to grow at a rate of 4.0% in the coming years.
The platform-wise market segments analyzed in the report are large ships, medium ships, and small ships.
The rail gun segment accounted for a larger market share in 2018 and is expected to witness a higher CAGR during the forecast period.
APAC can secure the fastest growth rate over the forecast period.