Fast Attack Craft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application Type (Missile armed FAC, Non-missile armed FAC), By End User (National Defense, Fighting, Others), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 5.47 Billion
CAGR (2026-2031)	7.22%
Fastest Growing Segment	Non-missile armed FAC
Largest Market	North America
Market Size (2031)	USD 8.31 Billion

Market Overview

The Global Fast Attack Craft Market will grow from USD 5.47 Billion in 2025 to USD 8.31 Billion by 2031 at a 7.22% CAGR. Fast Attack Craft are small, agile warships armed with anti-ship missiles, guns, or torpedoes, designed primarily for coastal defense and rapid engagement in littoral zones. The market is propelled by the escalating need for cost-effective maritime security solutions to counter asymmetric threats, piracy, and smuggling operations, particularly in regions with contested maritime borders. Furthermore, rising geopolitical tensions are compelling nations to modernize their naval fleets with versatile platforms capable of denying sea control to larger adversaries. According to the Stockholm International Peace Research Institute, in 2024, global military expenditure reached 2718 billion dollars, reflecting a prioritizing of defense capabilities that supports naval procurement.

Despite these strong growth drivers, a significant challenge impeding market expansion is the engineering constraint associated with integrating heavy weaponry and complex sensor suites onto limited-displacement hulls. The requirement to balance high speed with heavy payloads often compromises stability or range, making design optimization difficult. Additionally, the increasing cost of advanced electronic warfare systems and propulsion technologies required for modern warfare can strain the procurement budgets of developing nations, potentially delaying fleet renewal programs.

Key Market Drivers

The strategic shift toward asymmetric and littoral warfare capabilities significantly drives the Global Fast Attack Craft Market. Naval doctrines are increasingly prioritizing agile, low-observable platforms that can operate in shallow waters to counter larger conventional fleets. This operational pivot allows nations to project power within contested Exclusive Economic Zones without risking high-value capital ships. By deploying swarms of cost-effective, heavily armed small crafts, navies can effectively implement anti-access/area denial strategies against superior forces. According to DefenseScoop, May 2024, in the 'Replicator spending plan', the U.S. Department of Defense secured 500 million dollars for the first tranche of attritable autonomous systems, underscoring the financial commitment to small-displacement, high-volume maritime assets.

Concurrently, accelerated naval fleet modernization programs are propelling the procurement of versatile fast attack crafts. As legacy patrol boats reach obsolescence, defense ministries are acquiring advanced platforms equipped with modular weapon systems to handle diverse mission profiles. This renewal cycle is particularly robust in regions where rapid response capabilities are essential for coastal security. Supporting this trend, according to Saab, July 2024, in the 'Order for Combat Boat 90' press release, the company received a contract valued at approximately 400 million SEK to deliver ten combat boats, reflecting ongoing investment in fleet upgrades. According to the NATO Public Diplomacy Division, in 2024, defense expenditure by European Allies and Canada increased by 17.9 percent in real terms, creating a favorable fiscal environment for such naval acquisitions.

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Key Market Challenges

The increasing cost of advanced electronic warfare systems and propulsion technologies constitutes a significant barrier hampering the growth of the Global Fast Attack Craft Market. Modern naval warfare demands that even smaller platforms possess sophisticated combat management suites, automated weaponry, and high-speed interception capabilities to remain relevant against asymmetric threats. Integrating these complex subsystems onto limited-displacement hulls drives up the unit cost substantially, transforming what was traditionally a low-cost solution into a capital-intensive procurement. This financial strain disproportionately affects developing nations, which comprise a large portion of the target market, often forcing them to delay fleet renewal programs or reduce the number of vessels ordered.

The direct consequence of these escalating costs is a contraction in potential market volume, as procurement budgets struggle to keep pace with the technological requirements of modern littoral combat. The high price tag compels defense planners to make difficult trade-offs between quantity and capability, slowing the overall rate of market expansion despite the clear operational demand. According to the North Atlantic Treaty Organization (NATO), in 2024, European allies invested a combined total of 380 billion dollars in defense, a historic expenditure level necessitated by the soaring costs of modernizing military equipment and replenishing naval inventories. This trend highlights the immense financial burden nations face in acquiring up-to-date naval assets, directly impacting the affordability and procurement velocity of fast attack craft.

Key Market Trends

The Shift Towards Indigenous Manufacturing and Technology Transfer is reshaping the Global Fast Attack Craft Market as nations prioritize domestic shipbuilding to ensure strategic autonomy and supply chain resilience. Defense ministries are increasingly awarding contracts to local shipyards for high-speed interceptors, reducing reliance on foreign original equipment manufacturers while fostering national industrial bases. This localization strategy is particularly evident in major procurement decisions where domestic production capabilities are a mandatory requirement for fleet expansion. According to the Press Information Bureau, December 2024, in a press release regarding capital acquisition proposals, the Indian Defence Acquisition Council granted Acceptance of Necessity for the procurement of 31 New Water Jet Fast Attack Crafts, explicitly designed for low-intensity maritime operations and to be built domestically.

The Integration of Unmanned and Autonomous Systems is fundamentally altering operational concepts by introducing optionally manned or fully autonomous platforms into littoral combat fleets. Navies are investing heavily in research and development to field medium-sized unmanned surface vessels (MUSVs) capable of executing long-endurance intelligence, surveillance, and strike missions that were traditionally performed by crewed fast attack crafts. These autonomous platforms offer a significant tactical advantage by performing high-risk interdiction tasks without exposing personnel to danger. According to USNI News, December 2024, in the 'Report to Congress on Navy Large Unmanned Surface and Undersea Vehicles', the U.S. Navy requested 101.8 million dollars in research and development funding specifically for the Medium Unmanned Surface Vehicle program to accelerate the fielding of these capabilities.

Segmental Insights

Based on recent industry analysis, the Non-missile armed FAC segment is recognized as the fastest-growing category within the Global Fast Attack Craft Market. This growth is primarily driven by the cost-effectiveness of these vessels, which entail significantly lower procurement and operational maintenance costs compared to missile-equipped variants. The rising demand is further fueled by an increased focus on coastal security, anti-piracy, and anti-smuggling operations, where heavy missile armaments are often unnecessary. Consequently, naval forces and coast guards are prioritizing these agile, gun-armed platforms for their versatility in handling asymmetric threats and routine constabulary duties.

Regional Insights

North America maintains a leading position in the Global Fast Attack Craft Market due to significant defense budget allocations directed toward fleet modernization. The United States Navy and United States Coast Guard drive this demand by prioritizing vessels capable of effective littoral warfare and coastal security operations. Furthermore, the presence of major manufacturers within the region allows for the continuous integration of modern communication and weapon systems. This market strength is sustained by robust Foreign Military Sales agreements, which expand the distribution of American naval technologies to international allies.

Recent Developments

• In July 2025, Sefine Shipyard held a keel-laying ceremony at its facilities in Turkey for two KCR-70M fast attack craft destined for the Indonesian Navy. This development signifies the physical start of hull assembly for the vessels, which are part of Indonesia's fleet modernization program to enhance its brown-water and littoral warfare capabilities. The KCR-70M design focuses on speed and agility, incorporating guided missile systems and advanced radar technologies suitable for archipelago defense. The collaboration illustrates the continuing trend of cross-border partnerships in the global naval market, with Turkish shipyards playing an increasingly prominent role in supplying customized patrol solutions.
• In December 2024, Turkish shipbuilder Dearsan Shipyard conducted the keel-laying ceremony in Istanbul for two FAC 50 type fast attack craft ordered by the Qatari Emiri Naval Forces. This event marked a critical construction phase for the vessels, which are being built under a contract to supply the Gulf nation with modern surface combatants. The 50-meter platforms are designed to incorporate sophisticated weapon suites, including surface-to-surface missiles and air defense systems, tailored for high-speed maritime patrol and interdiction. The project reflects the growing export footprint of Turkish naval defense companies and the strengthening of bilateral defense ties with Qatar.
• In November 2024, the Philippine Navy launched its first locally assembled fast attack interdiction craft at the Cavite Naval Shipyard. Produced under a technology transfer agreement with Israel Shipyards, this vessel represents a significant milestone in the nation's efforts to revitalize its domestic naval shipbuilding capacity. The gunboat, part of the Acero-class fleet, is designed for rapid interception and coastal defense missions, featuring remote weapon stations and missile integration capabilities. This launch underscores the deepening defense collaboration between the Philippines and its international partners, aiming to modernize the country's littoral combat forces and secure its vast archipelagic waters.
• In March 2024, the Taiwanese Navy formally accepted the delivery of two new Tuo Chiang-class guided-missile corvettes, completing the first batch of these indigenous fast attack craft. Constructed by Lung Teh Shipbuilding, the catamaran-hulled vessels are engineered for asymmetric warfare, featuring stealth characteristics and a heavy armament of subsonic and supersonic anti-ship missiles. This delivery highlights the island nation's strategic focus on enhancing its littoral defense capabilities with high-speed, maneuverable platforms capable of countering larger surface combatants. The corvettes are equipped with advanced indigenous combat management systems and are designed to operate effectively in complex maritime environments.

Key Market Players

• Huntington Ingalls
• Fincantieri
• Lürssen
• Damen
• Navantia
• Saab
• DCNS
• Hyundai Heavy Industries
• Samsung Heavy Industries
• Atlas Elektronik

By Application Type	By End User	By Region
Missile armed FAC Non-missile armed FAC	National Defense Fighting Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Fast Attack Craft Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Fast Attack Craft Market, By Application Type:

• Missile armed FAC
• Non-missile armed FAC

• Fast Attack Craft Market, By End User:

• National Defense
• Fighting
• Others

• Fast Attack Craft Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE