Naval Vessel Defense Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Naval Vessel Defense Systems Industry Overview

Lockheed Martin Corporation, General Dynamics Corporation, Raytheon Technologies Corporation, BAE Systems PLC, and Northrop Grumman Corporation are some of the prominent players in the market. As the naval vessels' threats are increasing, companies are involved in the R&D efforts to produce better naval vessel defense systems. As the existing naval defense systems are optimized to shoot down objects only in low-Earth orbit but not in the upper atmosphere, the threats from the newer hypersonic weapons are increasing for the naval vessels. In this regard, a significant amount of R&D is expected to be divested for obtaining those defense capabilities. In addition, the increasing focus on directed energy weapons for the naval ships is also expected to create significant growth opportunities for the players during the forecast period. For instance, US Navy plans to install a High Energy Laser and Integrated Optical-dazzler with Surveillance (HELIOS) weapon system aboard an Arleigh Burke-class Flight IIA destroyer in 2021. Such contracts are expected to boost the market prospects for the development programs' players during the forecast period.