1. What is the projected Compound Annual Growth Rate (CAGR) of the Naval Gun Market?
The projected CAGR is approximately 8.2%.
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Naval Gun MarketNaval Gun Market by Technology (Fully Automatic, Semi-automatic), by Caliber (Below 50 mm, 50 - 100 mm, Above 100 mm), by Platform (Large Surface Combatants, Small Surface Combatants), by Component (Turret System, Radar System, Tracking System, Ammunition Drum, Others), by By Geography (North America), by Europe (U.K., Germany, France, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific), by The Middle East & Africa (Egypt, Israel, Qatar, Saudi Arabia, Turkey, Rest of the Middle East & Africa), by Latin America (Brazil, Mexico, Rest of Latin America) Forecast 2026-2034
The Naval Gun Market size was valued at USD 2.41 USD Billion in 2023 and is projected to reach USD 4.18 USD Billion by 2032, exhibiting a CAGR of 8.2 % during the forecast period. Naval guns are artillery weapons mounted on naval ships prepared for procedures that can take place at sea. These guns come in several types: main armament which refers to large caliber guns used in the attack of ships and other coast targets, secondary armament which is used for anti-aircraft and anti-missile functions as well as deck armament which is medium caliber and can be used both for naval shelling and surface attack. Some of the characteristics of naval guns include accuracy distance and high caliber which allows it to attack airborne and sea-based targets. Some, for example, are equipped with extremely efficient fire control systems and, sometimes, automated loading systems. Naval guns are employed in naval engagements, force protection, counterland operations, and maritime security to control the seas and dominate the waters.
Technology:
Caliber:
Platform:
Component:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 8.2% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 8.2%.
Key companies in the market include BAE Systems plc (U.K.), Bharat Heavy Electricals Limited (BHEL) (India), Leonardo S.p.A. (Italy), Lockheed Martin Corporation (U.S.), MBDA (France), Northrop Grumman Corporation (U.S.), Raytheon Technologies Corporation (U.S.), Rheinmetall AG (U.S.), SAAB AB (Sweden), Thales Group (France).
The market segments include Technology, Caliber, Platform, Component.
The market size is estimated to be USD 2.41 USD Billion as of 2022.
Various Upgradations in Existing Naval Guns and Ammunition to Aid Market Growth.
Integration of Laser Based Weapons with Naval Artillery is an Ongoing Trend in the Market.
High Development. Overhaul Cost of Guns. and the Introduction of New Technologies the Hampers Market Growth.
November 2023 – The Ministry of Defense awarded a contract to M/s Bharat Heavy Electricals Limited (BHEL) to procure 16 Upgraded Super Rapid Fire Gun Mounts (SRGM) and related equipment/accessories for the Indian Navy under the Purchase (India) category. Manufactured by M/s BHEL at its Haridwar facility, the improved SRGM is a medium caliber missile/aircraft point defense weapon system that provides a sustained rate of fire and high accuracy.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in K units.
Yes, the market keyword associated with the report is "Naval Gun Market," which aids in identifying and referencing the specific market segment covered.
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