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A military frigate is a type of warship, which has various sizes and roles. Frigates are used to protect merchant marine-ships and other warships such as anti-submarine warfare combatants, merchant convoys, and underway replenishment groups. Rise in territorial conflicts at sea along with increase in border issues drives the growth of the global military frigate market. Moreover, these military frigates come with modern weapon systems and detection technologies that have anti-submarine, anti-air defense, and anti-ship capabilities, which in turn bolsters the global demand for the military frigates.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value (USD) |
Segments covered | System and Application |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa) |
Companies covered | BAE Systems plc., Lockheed Martin Corporation, Damen Shipyards Group, United Shipbuilding Corporation, Rosoboronexport, Fincantieri SpA, Lürssen, General Dynamics Corporation, Naval Group, ThyssenKrupp AG. |
COVID-19 Scenario Analysis:
Countries across the globe are aiming toward gaining a competitive edge among military systems of different nations, which in turn drives the demand for military frigate from different regions. In addition, factors such as territorial integrity, national security, and the sovereign state are driving the demand for the aircraft carrier ship market. One of the major factors driving the growth of the global military frigates market is the development of new frigates with modern technology delivering enhanced capabilities. However, high maintenance costs associated with frigates are likely to hinder the market growth during the forecast period. On the contrary, consistent advancements in technology and performance enhancement are expected to replace the cost restraint with lucrative market potential.
The global military frigate market trends are as follows:
The military & defense segment of a country defines its national strength and ability to cope up in war situations. In addition, strengthening the military base allows nations to showcase their dominance over the regions as well in terms of the market. Frigates are applied in various operations of naval forces. Increase in number of geopolitical issues and growth in territorial disputes between various nations are intriguing the government organizations to bolster their military base. Further, the military & defense segment of various nations is also increasing its investment budget to upgrade their systems and replace the existing fleet with newer generation military frigates.
Technology plays an important role in coping with rapidly changing market dynamics. In the military & defense segment, technological advancements are essential to upgrade the exiting assets and replace the obsolete equipment. Military frigates are an essential component of maritime assets and are hence required to be up-to-date to meet the defense requirement. The advancement of technology allows the integration of solid-state radar to support surface combat and helicopter landing on deck. Moreover, the detection systems of frigates enable anti-air defense, anti-ship, and anti-submarine capabilities, which in turn is anticipated to foster the market growth during the forecast period. Furthermore, all modern frigates are equipped with defensive and offensive missiles; therefore, called as guided-missile frigates. In addition, these guided-missile frigates form a vital part of modern naval operations allowing surface-to-air missiles; thus, bolstering the military strength of the nations with improvement in technology.
Key Segments Covered:
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Key Benefits of the Report:
Questions Answered in the Military frigate Market Research Report:
Key Market Segments
Key Market Players