Naval Gun System Market Trends

Global Naval Gun System Market Overview

Naval Guns System Market Size was valued at USD 8.75 billion in 2022. The Naval Guns System Market is projected to grow to USD 13.34 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period (2024 - 2032).

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.

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, 2022 to 2032. 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, 2022 to 2032 due to increasing terrorism incidences and border threats.

Intended Audience

• Naval gun system manufacturers


• Ship manufacturers


• Maritime companies


• Government authorities


• Research institutes


• Regulatory bodies

Recent Development

Leonardo

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  Unveiled its Vulcano 127mm naval gun at Euronaval 2022. The Vulcano is a new generation of medium-caliber gun system that offers a range of improvements over existing systems, including increased accuracy, higher rate of fire, and reduced weight.

  
  

BAE Systems

• Completed the first live firing of its 57mm Mk110 naval gun system from a Royal Navy Type 26 frigate. The Mk110 is a new medium-caliber gun system that is designed to replace the existing 40mm Bofors gun system on Royal Navy ships.

Key Players

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) .

Research Methodology

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.

Secondary Research

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.

Primary Research

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.

Key Insights

• Market sizing, forecast, and analysis: Detailed coverage of the market segment and sub-segments


• Regional/country trends and forecast: detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region


• Market dynamics intelligence: market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis


• Technology trends, regulatory landscape, and patent analysis outlook


• Competitive intelligence: market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions


• Regional attractiveness and related growth opportunities

Report Customization

MRFR offers report customization to valued customers. Below are the options available for customization:

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  Company Profiles

  
  

In-depth profiling of additional market players (3 to 4 companies)

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  Country-Level Analysis

  
  

Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)