Fast Attack Craft Market size to grow by USD 2,025.14 million from 2022 to 2027, Greater focus on ISR operations to drive the market growth - Technavio

NEW YORK, April 20, 2023 /PRNewswire/ -- The global fast attack craft market size is estimated to increase by USD 2,025.14 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 8.1% during the forecast period. The greater focus on ISR operations is a major driver for the growth of the fast attack craft (FAC) market during the forecast period. ISR operations play a crucial role in military missions because of their influence on decision-making in high-risk operations through intelligence gathering and analysis. Tracking crucial movement, real-time monitoring of defense entity behavior and operations, particularly in combat zones, constitutes surveillance. It makes use of sensor-equipped systems to produce images or videos of the scene. A process called reconnaissance, where information is gathered to evaluate the capabilities of enemy forces or the physical characteristics of the environment in which they are operating, is used. These actions are interconnected and are taken together to help defense commanders be more aware of their surroundings. Hence, the importance of such operations has accounted for significant and rapid developments in the market, which is expected to continue in the coming years, These factors will boost the market growth during the forecast period. Discover some insights on market size historic period (2017 to 2021) and Forecast 2023-2027 before buying the full report -Request a sample report

Fast attack craft market – Vendor Analysis
Vendor Landscape - The global fast attack craft market is concentrated, with the presence of several global as well as regional vendors. A few prominent vendors that offer fast attack craft in the market are BAE Systems Plc, China Shipbuilding Trading Co. Ltd., CONSTRUCTIONS MECANIQUES DE NORMANDIE, Daewoo Shipbuilding and Marine Engineering Co Ltd, Damen Shipyards Group, Fincantieri Spa, Fr. Lurssen Werft GmbH, Garden Reach Shipbuilders and Engineers, Goa Shipyard Ltd., Hanjin Heavy Industries and Construction Holdings Co. Ltd., Navantia SA, and Mitsubishi Heavy Industries Ltd. and others.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

Vendor Offerings -

• BAE Systems Plc - The company offers fast attack crafts for anti-air and surface combat situations.
• China Shipbuilding Trading Co. Ltd. - The company offers fast attack crafts such as offshore patrol purposes.
• CONSTRUCTIONS MECANIQUES DE NORMANDIE - The company offers fast attack crafts such as Combattante FS46.
• To provide a deeper understanding of the competitive landscape, Technavio has profiled key players along with the study that categorizes the global market segmentation. – Request a sample report

Fast Attack Craft Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (national defense and technical research), type (missile-armed FAC and non-missile armed FAC), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

• The national defense segment will be significant during the forecast period. This is because the use of fast attack craft by defense forces worldwide has been growing substantially. The national defense segment and similar cutting-edge naval craft and systems has been witnessing growth because of the rising defense budgets and territorial disputes. This results in nations like the US to start developing a variety of fast attack craft that will aid the nation's armed forces in naval combat. Various technological developments have made it possible for fast attack craft to resolve important problems. That includes automated operations and navigational issues. Further, it becomes an essential component of common naval applications. As a result of increased research and development (R&D), the cost of fast attack craft has also decreased significantly. These crafts now have effective propulsion systems that enable effective operation at cruising speeds. Hence, the growing technological advances and developments in fast attack craft will increase its use in national defense applications, which, in turn, will drive the growth of the fast attack craft (FAC) market in focus during the forecast period.

Geography Overview
By geography, the global fast attack craft market is segmented into North America, Europe, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fast attack craft market.

• North America is estimated to account for 35% of the market growth during the forecast period. Additionally, the US invests in fast attack craft because of the need to increase the effectiveness of attacks against adversaries. The majority of research and development for these technologies is focused on creating reliable and affordable fast-attack craft systems. This is essential for important missions. One of the largest arms buyers in the world is the US Department of Defense (DoD), which manages the storage and tracking of inventories and suppliers as well as the procurement of raw materials, spare parts, fuel, and food. Thus, it is important for the DLA to maintain its supply chain security with all suppliers. Such factors are expected to lead to market growth in the region during the forecast period.

The report comprises of various segments as well as analysis of the trends and factors that are playing a substantial role in the market - Download a Sample Report

Fast Attack Craft Market – Market Dynamics

Key Trends - 

• The rising demand for warships is an emerging FAC market trend that is expected to fuel the market growth during the forecast period.
• The growth can be attributed to factors such as the growing demand for naval combat readiness and the growing global fleets of naval ships. This may motivate many defense organizations to buy warships.
• Various nations are significantly increasing their naval spending on the development and armament of naval ships with directed energy weapons.
• For Instance, in November 2022, BAE Systems was awarded a USD 5.07 billion contract by the UK Ministry of Defence to manufacture the next five City Class Type 26 frigates for the Royal Navy in Glasgow.
• Hence, the increasing demand for naval ships will drive the growth of the global fast attack craft (FAC) market during the forecast period.

Major challenges - 

• A major challenge impeding the growth of the FAC market is the need for trained personnel for operation.
• FAC is a fusion of weapons and communication systems that operate with computer technology. The control point for detection, tracking, and actions is concentrated at one location. This reduces overhead and boosts effectiveness but fast attack craft operation also need the use of trained or qualified personnel.
• Currently, to operate missiles or torpedo, trained personnel with a high level of computer knowledge as well as that related to the weapon and its maneuvering abilities are required compared to the traditional way.
• This is because the majority of weapon systems have been integrated with computer-based networks and automation capabilities.
• Hence, a shortage of such personnel poses a challenge for defense organizations, which, in turn, may limit the adoption of fast attack craft during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this Fast Attack Craft Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Fast Attack Craft market between 2023 and 2027
• Precise estimation of the size of the Fast Attack Craft market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Fast Attack Craft Market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Fast Attack Craft Market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global fast attack craft market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global fast attack craft market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 National defense - Market size and forecast 2022-2027
• Exhibit 34: Chart on National defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on National defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on National defense - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on National defense - Year-over-year growth 2022-2027 (%)

• 6.4 Technical research - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Technical research - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Technical research - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Technical research - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Technical research - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ million)
• Exhibit 43: Data Table on Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Missile-armed FAC - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Missile-armed FAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Missile-armed FAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Missile-armed FAC - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Missile-armed FAC - Year-over-year growth 2022-2027 (%)

• 7.4 Non-missile armed FAC - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Non-missile armed FAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Non-missile armed FAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Non-missile armed FAC - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Non-missile armed FAC - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ million)
• Exhibit 57: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Iran - Market size and forecast 2022-2027
• Exhibit 99: Chart on Iran - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Iran - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Iran - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Iran - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 BAE Systems Plc 
• Exhibit 111: BAE Systems Plc - Overview
• Exhibit 112: BAE Systems Plc - Business segments
• Exhibit 113: BAE Systems Plc - Key offerings
• Exhibit 114: BAE Systems Plc - Segment focus

• 12.4 China Shipbuilding Trading Co. Ltd. 
• Exhibit 115: China Shipbuilding Trading Co. Ltd. - Overview
• Exhibit 116: China Shipbuilding Trading Co. Ltd. - Product / Service
• Exhibit 117: China Shipbuilding Trading Co. Ltd. - Key offerings

• 12.5 CONSTRUCTIONS MECANIQUES DE NORMANDIE
• Exhibit 118: CONSTRUCTIONS MECANIQUES DE NORMANDIE - Overview
• Exhibit 119: CONSTRUCTIONS MECANIQUES DE NORMANDIE - Product / Service
• Exhibit 120: CONSTRUCTIONS MECANIQUES DE NORMANDIE - Key offerings

• 12.6 Daewoo Shipbuilding and Marine Engineering Co Ltd
• Exhibit 121: Daewoo Shipbuilding and Marine Engineering Co Ltd - Overview
• Exhibit 122: Daewoo Shipbuilding and Marine Engineering Co Ltd - Product / Service
• Exhibit 123: Daewoo Shipbuilding and Marine Engineering Co Ltd - Key offerings

• 12.7 Damen Shipyards Group 
• Exhibit 124: Damen Shipyards Group - Overview
• Exhibit 125: Damen Shipyards Group - Product / Service
• Exhibit 126: Damen Shipyards Group - Key news
• Exhibit 127: Damen Shipyards Group - Key offerings

• 12.8 Fincantieri Spa 
• Exhibit 128: Fincantieri Spa - Overview
• Exhibit 129: Fincantieri Spa - Business segments
• Exhibit 130: Fincantieri Spa - Key offerings
• Exhibit 131: Fincantieri Spa - Segment focus

• 12.9 Fr. Lurssen Werft GmbH 
• Exhibit 132: Fr. Lurssen Werft GmbH - Overview
• Exhibit 133: Fr. Lurssen Werft GmbH - Product / Service
• Exhibit 134: Fr. Lurssen Werft GmbH - Key offerings

• 12.10 Garden Reach Shipbuilders and Engineers
• Exhibit 135: Garden Reach Shipbuilders and Engineers - Overview
• Exhibit 136: Garden Reach Shipbuilders and Engineers - Product / Service
• Exhibit 137: Garden Reach Shipbuilders and Engineers - Key offerings

• 12.11 Goa Shipyard Ltd. 
• Exhibit 138: Goa Shipyard Ltd. - Overview
• Exhibit 139: Goa Shipyard Ltd. - Business segments
• Exhibit 140: Goa Shipyard Ltd. - Key offerings
• Exhibit 141: Goa Shipyard Ltd. - Segment focus

• 12.12 Hanjin Heavy Industries and Construction Holdings Co. Ltd. 
• Exhibit 142: Hanjin Heavy Industries and Construction Holdings Co. Ltd. - Overview
• Exhibit 143: Hanjin Heavy Industries and Construction Holdings Co. Ltd. - Product / Service
• Exhibit 144: Hanjin Heavy Industries and Construction Holdings Co. Ltd. - Key offerings

• 12.13 Mitsubishi Heavy Industries Ltd. 
• Exhibit 145: Mitsubishi Heavy Industries Ltd. - Overview
• Exhibit 146: Mitsubishi Heavy Industries Ltd. - Business segments
• Exhibit 147: Mitsubishi Heavy Industries Ltd. - Key news
• Exhibit 148: Mitsubishi Heavy Industries Ltd. - Key offerings
• Exhibit 149: Mitsubishi Heavy Industries Ltd. - Segment focus

• 12.14 Navantia SA 
• Exhibit 150: Navantia SA - Overview
• Exhibit 151: Navantia SA - Product / Service
• Exhibit 152: Navantia SA - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 153: Inclusions checklist
• Exhibit 154: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 155: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 156: Research methodology
• Exhibit 157: Validation techniques employed for market sizing
• Exhibit 158: Information sources

• 13.5 List of abbreviations 
• Exhibit 159: List of abbreviations

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