Fast Attack Craft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Application (Missile armed FAC, Non-missile armed FAC), By End User (National Defense, Fighting, Others), By Region, Competition, 2018-2028

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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 4.5 billion

CAGR (2023-2028)

6.19%

Fastest Growing Segment

Non-missile armed FAC

Largest Market

Asia-Pacific

 

Market Overview

Global Fast Attack Craft Market has valued at USD 4.5 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.19% through 2028. Equipped with anti-ship missiles, torpedoes, and cannons, a fast attack craft (FAC) is a compact, maneuverable, swift, and attack-capable vessel. Rapid assault boats are employed in several missions, including anti-piracy, anti-surface, anti-air, and marine patrol. Since quick attack ships are less capable of defense, they are typically chosen in coastal areas as opposed to the middle of the ocean. Their primary usage is in offensive roles. Even enormous capital ships can be seriously threatened by swift attack craft equipped with guided missiles. FAC becomes extremely successful when employed in tandem with new cutting-edge warfare systems like integrated security systems, underwater acoustic weapons, virtual fences, and multi-static antisubmarine warfare capability enhancements (MACE).

Market Drivers

Geopolitical Tensions and Maritime Security

Geopolitical tensions play a pivotal role in driving the Global Fast Attack Craft market. In recent years, increased territorial disputes, contentious maritime boundaries, and regional conflicts have led to a surge in the demand for FACs. These small, agile vessels are crucial for safeguarding a nation's territorial waters, protecting shipping lanes, and projecting power in contested regions. One of the most prominent examples of this driver is the South China Sea, where China's territorial claims and assertive actions have resulted in heightened tensions. Neighboring countries, such as Vietnam and the Philippines, have responded by bolstering their FAC fleets to defend their interests. This escalation of tensions and the need to assert sovereignty has driven the procurement of advanced FACs equipped with modern weapon systems, sensors, and communication technology. In the Persian Gulf, the Strait of Hormuz is another hotspot for geopolitical tensions. Given its strategic significance as a major oil shipping route, countries in the region, including Iran and Saudi Arabia, have invested in FACs to protect their interests and ensure the uninterrupted flow of energy resources. Additionally, territorial disputes in the South Atlantic, such as those between Argentina and the United Kingdom over the Falkland Islands, have fueled demand for FACs capable of patrolling and safeguarding territorial waters.

Evolving Threat Environments

Fast Attack Craft market drivers are heavily influenced by evolving threat environments. As potential adversaries develop increasingly sophisticated anti-ship missile systems, naval mines, and unmanned underwater systems, navies around the world are compelled to adapt and enhance their FAC capabilities to counter these threats effectively. Anti-ship missiles, such as the Chinese YJ-18 and Russian Oniks, are capable of targeting naval vessels from extended ranges, posing a significant challenge to the security of naval assets, especially close to enemy coastlines. FACs need to be equipped with advanced missile-defense systems, electronic countermeasures, and stealth features to mitigate the risk. Naval mines, both conventional and improvised, are a pervasive threat in littoral waters and chokepoints like the Strait of Hormuz and the Malacca Strait. FACs with mine countermeasure capabilities, including mine-hunting sonars and remotely operated vehicles (ROVs), have become essential in ensuring the safe passage of naval vessels. Unmanned underwater systems, such as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs), are used for intelligence gathering, surveillance, and reconnaissance, as well as for mine countermeasures. These technologies are integrated into FAC operations, enhancing their effectiveness in littoral environments.

Littoral and Asymmetric Warfare

Littoral regions, characterized by shallow waters and proximity to coastlines, have gained strategic importance in modern naval warfare. Fast Attack Craft are ideally suited for littoral operations, which include patrolling territorial waters, supporting land forces, and conducting special operations. As a result, the market is driven by the increased focus on littoral warfare and asymmetric threats. Littoral environments present unique challenges, including limited maneuvering space, shallow waters, and the potential for surprise attacks from concealed positions. FACs, with their speed, agility, and shallow draft, are well-suited to navigate these challenging waters. Furthermore, asymmetric warfare, which often involves non-state actors and unconventional tactics, requires flexible and responsive naval assets. FACs can quickly respond to emerging threats, conduct coastal surveillance, and engage in hit-and-run tactics, making them valuable assets in countering asymmetric threats, such as piracy, terrorism, and insurgency. The ongoing conflicts in the littoral regions of the Middle East, like the Yemeni Civil War and the Syrian Civil War, have underscored the importance of FACs in littoral warfare. Coastal nations and regional powers have increased their FAC capabilities to protect their interests and project power in these volatile environments.

Technological Advancements and Innovation

Technological advancements are a significant driver in the Global Fast Attack Craft market. Navies worldwide are pursuing cutting-edge technologies to equip their FACs with advanced weapon systems, sensors, communication systems, and propulsion systems. A prime example of technological innovation is the integration of stealth technology in FAC design. Stealth features, including reduced radar cross-section, radar-absorbing materials, and advanced electronic countermeasures, enhance the survivability of FACs by minimizing their detectability to enemy radar systems. Additionally, the development of advanced anti-ship missiles and naval mines has necessitated improvements in FAC defensive systems. Modern FACs are equipped with missile defense systems, close-in weapon systems (CIWS), and electronic countermeasures to protect against these evolving threats. Unmanned systems, such as unmanned surface vessels (USVs) and unmanned underwater vehicles (UUVs), are being integrated into FAC operations, expanding their capabilities for reconnaissance, surveillance, and mine countermeasures. These unmanned systems can extend the operational reach of FACs without putting human operators at risk. In terms of propulsion, many FACs are adopting advanced marine diesel engines, gas turbines, and even hybrid propulsion systems. These propulsion technologies enhance speed, endurance, and operational efficiency.

Increased Emphasis on Multi-Mission Capabilities

The demand for multi-mission capable FACs is a driving force in the Global Fast Attack Craft market. Traditionally, FACs were designed primarily for anti-ship warfare, but the changing threat landscape has led to a shift towards versatile platforms that can perform a wide range of missions. Modern FACs are equipped with various mission modules that allow them to conduct not only anti-ship operations but also anti-submarine warfare, mine countermeasures, intelligence, surveillance, reconnaissance, and even humanitarian assistance and disaster relief missions. This trend reflects the need for naval forces to be flexible and adaptive in addressing diverse threats and challenges. For instance, the United States Navy's littoral combat ship (LCS) is designed to accept different mission packages, making it a highly adaptable platform capable of various roles, from anti-submarine warfare to mine countermeasures. This approach enhances the efficiency and cost-effectiveness of naval operations.

 

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Key Market Challenges

Evolving Threat Landscape

The fast-evolving threat landscape is one of the most critical challenges facing the global Fast Attack Craft market. Potential adversaries, both state and non-state actors, are continually advancing their maritime capabilities, including the development and deployment of advanced anti-ship missiles, unmanned surface and underwater vehicles, and more sophisticated electronic warfare systems. In such a dynamic environment, the existing Fast Attack Craft may become increasingly vulnerable, making it imperative to upgrade and adapt these vessels to meet emerging threats effectively. To counter these evolving threats, Fast Attack Craft require regular modernization and refitting, which can be costly and time-consuming. This challenge is further compounded by the need for agility and rapid response, as Fast Attack Craft are often called upon to react swiftly to crises or threats. Upgrading vessels while maintaining operational readiness is a delicate balance that naval forces must navigate.

Budgetary Constraints

Budgetary constraints pose a significant challenge to the global Fast Attack Craft market. Naval modernization, including the construction, maintenance, and upgrade of Fast Attack Craft, requires substantial financial resources. However, defense budgets are often limited, and governments must allocate their funds to a wide range of military programs and priorities. This competitive allocation of resources can result in reduced funding for Fast Attack Craft projects, hindering their timely development and modernization. Smaller nations, in particular, may face budgetary constraints that limit their ability to invest in state-of-the-art Fast Attack Craft. As a result, these nations may find it challenging to keep pace with larger and more financially endowed naval forces, potentially creating imbalances in regional security.

Technological Advancements

The rapid pace of technological advancements presents a double-edged sword for the global Fast Attack Craft market. On one hand, technological innovations can enhance the capabilities of Fast Attack Craft, making them more effective and resilient in the face of emerging threats. These innovations may include improved sensors, communication systems, stealth technology, and advanced armament. However, keeping up with these technological advancements is not without challenges. To remain competitive, naval forces must invest in research and development to integrate cutting-edge technologies into their Fast Attack Craft. This process involves not only acquiring new systems but also ensuring that crews are adequately trained to operate and maintain these systems. The cost and complexity of integrating new technologies can strain budgets and pose challenges for naval forces worldwide. Moreover, rapid technological change can also lead to obsolescence. As Fast Attack Craft age, they may become less effective at countering contemporary threats. Updating or replacing these vessels to stay current can be expensive and time-consuming.

Key Market Trends

Growing Geopolitical Tensions Driving Market Growth

Modernization and Upgradation

One of the most prominent trends in the Global Fast Attack Craft market is the ongoing modernization and upgradation of existing fleets. Nations with significant naval capabilities are investing heavily in upgrading their existing FACs to enhance their combat capabilities and extend their operational lifespans. This trend is driven by the need to keep pace with evolving threats and technologies. Many countries have recognized that upgrading existing FACs can be a cost-effective approach, especially when compared to procuring entirely new vessels. Upgrades may include improving communication systems, navigation technology, weapon systems, and overall performance enhancements. For example, the United States Navy has undertaken a program to modernize and upgrade its Cyclone-class patrol craft to extend their service life and enhance their capabilities. Similarly, other nations such as India, Israel, and South Korea have initiated projects to modernize their FAC fleets.

Adoption of Stealth Technology

Stealth technology is increasingly becoming a focal point in the design and development of Fast Attack Craft. Stealthy FACs are equipped with features that reduce their radar cross-section, making them less detectable by enemy radar systems. This trend is in response to the need for increased survivability in modern naval warfare, where adversaries possess advanced anti-ship missile systems and surveillance capabilities. Stealthy design features may include shaping the vessel's hull to minimize radar reflections, the use of radar-absorbing materials, and incorporating advanced electronic warfare and countermeasures systems. These advancements enable FACs to operate closer to enemy coastlines without being easily detected and targeted. Nations like Sweden and the United States have been pioneers in developing stealthy FACs, such as the U.S. Navy's Littoral Combat Ship (LCS) and Sweden's Visby-class corvettes. Other countries, including China and Russia, are also investing in stealth technology to enhance their FAC fleets.

Emphasis on Multi-Mission Capabilities

The Global Fast Attack Craft market is witnessing a growing emphasis on multi-mission capabilities. Traditionally, FACs were primarily designed for anti-ship warfare, but the changing threat landscape has led to a shift towards versatile platforms that can perform a wide range of missions. Modern FACs are being equipped with various mission modules that allow them to conduct not only anti-ship operations but also anti-submarine warfare, mine countermeasures, intelligence, surveillance, reconnaissance, and even humanitarian assistance and disaster relief missions. This trend reflects the need for naval forces to be flexible and adaptive in addressing diverse threats and challenges. For instance, the littoral combat ship (LCS) in the U.S. Navy is designed to accept different mission packages, making it a highly adaptable platform capable of various roles, from anti-submarine warfare to mine countermeasures. This approach enhances the efficiency and cost-effectiveness of naval operations.

Growing Use of Unmanned Systems

The deployment of unmanned systems is another significant trend in the Global Fast Attack Craft market. Unmanned surface vessels (USVs) and unmanned underwater vessels (UUVs) are being integrated into FAC operations, providing naval forces with enhanced capabilities for reconnaissance, surveillance, and my countermeasures. FACs are increasingly being used as launch and recovery platforms for these unmanned systems. This enables them to extend their operational reach and conduct missions in high-risk areas without putting human operators at risk. Countries like the United States, China, and Israel have been at the forefront of incorporating unmanned systems into their FAC fleets. For example, the U.S. Navy's LCS is designed to launch and recover various unmanned systems, including the MQ-8 Fire Scout unmanned helicopter and the Knifefish UUV for my countermeasures.

Regional Collaboration and Partnerships

In an effort to pool resources and expertise, many countries are engaging in regional collaboration and partnerships to strengthen their Fast Attack Craft capabilities. Joint development, production, and maintenance programs are becoming more common, fostering cooperation among nations. These collaborations can lead to cost-sharing, the exchange of technology, and the establishment of common standards, all of which contribute to the overall effectiveness of FAC fleets. Additionally, regional partnerships can enhance maritime security and stability in shared waters. One notable example is the European Patrol Corvette (EPC) program, which involves several European countries, including Greece, Italy, and France, working together to develop a common patrol vessel platform. This initiative allows for standardized training, maintenance, and interoperability among participating nations.

Segmental Insights

Application Type Analysis

Based on the type of segment, the market for rapid attack craft has been divided into two segments: FACs without missiles and FACs with missiles. It is anticipated that the market share of rapid attack craft with missiles will be highest in 2020 and will continue to rise in the following year. Missile Armed Fast Attack Craft FACs are fast attack craft FACs that are equipped with anti-ship missile launchers. Ballistic and cruise missiles, which have incredibly quick and highly precise armament, may be transported by FAs equipped with missiles.

 

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Regional Insights

  • Of these, the Asia-Pacific market is thought to be the most profitable for companies who manufacture naval laser defensive eyewear. This is a result of both the modemization of naval systems and the rising demand for naval systems among several nations, including South Korea, China, India, and Japan. Furthermore, because of the deployment of cutting-edge naval systems and components in combat operations, the North American area is anticipated to produce a larger Fast Attack Craft Market Size during the forecast period.

Recent Developments

  • PT Lundin launched KRiKlewang (model number X3K) for the Indonesian Navy on August 29, 2012.

Key Market Players

  • China Shipbuilding & Offshore International Co Ltd
  • Garden Reach Shipbuilders and Engineers
  • BAE Systems PLC
  • Hanjin Heavy Industries & Construction
  • CMN Group
  • Damen Shipyards Group
  • Navantia
  • Fincantieri – Cantieri Navaliltaliani SpA
  • Goa Shipyard Limited

By Application Type

By End User

By Region
  • Missile armed FAC
  • Non-missile armed FAC
  • National Defense
  • Fighting
  • Others
  • North America
  • Europe & CIS
  • 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:

o   Missile armed FAC

o   Non-missile armed FAC

  • Fast Attack Craft Market, By End User:

o   National Defense

o   Fighting

o   Others

  • Fast Attack Craft Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Fast Attack Craft Market.

Available Customizations:

Global Fast Attack Craft market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Fast Attack Craft Market

5.    Global Fast Attack Craft Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Application Type Market Share Analysis (Missile armed FAC, Non-missile armed FAC)

5.2.2.    By End User Market Share Analysis (National Defense, Fighting, Others)

5.2.3.    By Regional Market Share Analysis

5.2.3.1.        Asia-Pacific Market Share Analysis

5.2.3.2.        Europe & CIS Market Share Analysis

5.2.3.3.        North America Market Share Analysis

5.2.3.4.        South America Market Share Analysis

5.2.3.5.        Middle East & Africa Market Share Analysis

5.2.4.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3.  Global Fast Attack Craft Market Mapping & Opportunity Assessment

5.3.1.    By Application Type Market Mapping & Opportunity Assessment

5.3.2.    By End User Market Mapping & Opportunity Assessment

5.3.3.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Fast Attack Craft Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value  

6.2.  Market Share & Forecast

6.2.1.    By Application Type Market Share Analysis

6.2.2.    By End User Market Share Analysis

6.2.3.    By Country Market Share Analysis

6.2.3.1.        China Market Share Analysis

6.2.3.2.        India Market Share Analysis

6.2.3.3.        Japan Market Share Analysis

6.2.3.4.        Indonesia Market Share Analysis

6.2.3.5.        Thailand Market Share Analysis

6.2.3.6.        South Korea Market Share Analysis

6.2.3.7.        Australia Market Share Analysis

6.2.3.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Fast Attack Craft Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value  

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Application Type Market Share Analysis

6.3.1.2.2.           By End User Market Share Analysis

6.3.2.    India Fast Attack Craft Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value  

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Application Type Market Share Analysis

6.3.2.2.2.           By End User Market Share Analysis

6.3.3.    Japan Fast Attack Craft Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value  

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Application Type Market Share Analysis

6.3.3.2.2.           By End User Market Share Analysis

6.3.4.    Indonesia Fast Attack Craft Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value  

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Application Type Market Share Analysis

6.3.4.2.2.           By End User Market Share Analysis

6.3.5.    Thailand Fast Attack Craft Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value  

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Application Type Market Share Analysis

6.3.5.2.2.           By End User Market Share Analysis

6.3.6.    South Korea Fast Attack Craft Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value  

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Application Type Market Share Analysis

6.3.6.2.2.           By End User Market Share Analysis

6.3.7.    Australia Fast Attack Craft Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.           By Value  

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.           By Application Type Market Share Analysis

6.3.7.2.2.           By End User Market Share Analysis

7.    Europe & CIS Fast Attack Craft Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value  

7.2.  Market Share & Forecast

7.2.1.    By Application Type Market Share Analysis

7.2.2.    By End User Market Share Analysis

7.2.3.    By Country Market Share Analysis

7.2.3.1.        Germany Market Share Analysis

7.2.3.2.        Spain Market Share Analysis

7.2.3.3.        France Market Share Analysis

7.2.3.4.        Russia Market Share Analysis

7.2.3.5.        Italy Market Share Analysis

7.2.3.6.        United Kingdom Market Share Analysis

7.2.3.7.        Belgium Market Share Analysis

7.2.3.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Fast Attack Craft Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value  

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Application Type Market Share Analysis

7.3.1.2.2.           By End User Market Share Analysis

7.3.2.    Spain Fast Attack Craft Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value  

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Application Type Market Share Analysis

7.3.2.2.2.           By End User Market Share Analysis

7.3.3.    France Fast Attack Craft Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value  

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Application Type Market Share Analysis

7.3.3.2.2.           By End User Market Share Analysis

7.3.4.    Russia Fast Attack Craft Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value  

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Application Type Market Share Analysis

7.3.4.2.2.           By End User Market Share Analysis

7.3.5.    Italy Fast Attack Craft Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value  

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Application Type Market Share Analysis

7.3.5.2.2.           By End User Market Share Analysis

7.3.6.    United Kingdom Fast Attack Craft Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value  

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Application Type Market Share Analysis

7.3.6.2.2.           By End User Market Share Analysis

7.3.7.    Belgium Fast Attack Craft Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value  

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Application Type Market Share Analysis

7.3.7.2.2.           By End User Market Share Analysis

8.    North America Fast Attack Craft Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value  

8.2.  Market Share & Forecast

8.2.1.    By Application Type Market Share Analysis

8.2.2.    By End User Market Share Analysis

8.2.3.    By Country Market Share Analysis

8.2.3.1.        United States Market Share Analysis

8.2.3.2.        Mexico Market Share Analysis

8.2.3.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Fast Attack Craft Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value  

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Application Type Market Share Analysis

8.3.1.2.2.           By End User Market Share Analysis

8.3.2.    Mexico Fast Attack Craft Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value  

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Application Type Market Share Analysis

8.3.2.2.2.           By End User Market Share Analysis

8.3.3.    Canada Fast Attack Craft Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value  

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Application Type Market Share Analysis

8.3.3.2.2.           By End User Market Share Analysis

9.    South America Fast Attack Craft Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value  

9.2.  Market Share & Forecast

9.2.1.    By Application Type Market Share Analysis

9.2.2.    By End User Market Share Analysis

9.2.3.    By Country Market Share Analysis

9.2.3.1.        Brazil Market Share Analysis

9.2.3.2.        Argentina Market Share Analysis

9.2.3.3.        Colombia Market Share Analysis

9.2.3.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Fast Attack Craft Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value  

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Application Type Market Share Analysis

9.3.1.2.2.           By End User Market Share Analysis

9.3.2.    Colombia Fast Attack Craft Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value  

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Application Type Market Share Analysis

9.3.2.2.2.           By End User Market Share Analysis

9.3.3.    Argentina Fast Attack Craft Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value  

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Application Type Market Share Analysis

9.3.3.2.2.           By End User Market Share Analysis

10. Middle East & Africa Fast Attack Craft Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value   

10.2.            Market Share & Forecast

10.2.1. By Application Type Market Share Analysis

10.2.2. By End User Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1.     South Africa Market Share Analysis

10.2.3.2.     Turkey Market Share Analysis

10.2.3.3.     Saudi Arabia Market Share Analysis

10.2.3.4.     UAE Market Share Analysis

10.2.3.5.     Rest of Middle East & Africa Market Share Africa

10.3.            Middle East & Africa: Country Analysis

10.3.1. South Africa Fast Attack Craft Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value  

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Application Type Market Share Analysis

10.3.1.2.2.         By End User Market Share Analysis

10.3.2. Turkey Fast Attack Craft Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value  

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Application Type Market Share Analysis

10.3.2.2.2.         By End User Market Share Analysis

10.3.3. Saudi Arabia Fast Attack Craft Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value  

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Application Type Market Share Analysis

10.3.3.2.2.         By End User Market Share Analysis

10.3.4. UAE Fast Attack Craft Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value  

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Application Type Market Share Analysis

10.3.4.2.2.         By End User Market Share Analysis

11. SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12. Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. China Shipbuilding & Offshore International Co Ltd

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. Garden Reach Shipbuilders and Engineers.

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Hanjin Heavy Industries & Construction.

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. CMN Group.

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. Damen Shipyards Group.

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. BAE Systems PLC.

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. Navantia

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Fincantieri – Cantieri Navaliltaliani SpA.

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. Goa Shipyard Limited.

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

15. Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions

15.1.2. Target End User

15.1.3. Target Application Type  

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Fast Attack Craft Market was estimated to be USD 4.5 billion in 2022.

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Based on the type segment, the market for rapid attack craft has been divided into two segments: FACs without missiles and FACs with missiles. It is anticipated that the market share of rapid attack craft with missiles will be highest in 2020 and will continue to rise in the following year. Missile Armed Fast Attack Craft FACs are fast attack craft FACs that are equipped with anti-ship missile launchers. Ballistic and cruise missiles, which have incredibly quick and highly precise armament, may be transported by FAs equipped with missiles.

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Of these, the Asia-Pacific market is thought to be the most profitable for companies who manufacture naval laser defensive eyewear. This is a result of both the modemization of naval systems and the rising demand for naval systems among several nations, including South Korea, China, India, and Japan. Furthermore, because of the deployment of cutting-edge naval systems and components in combat operations, the North American area is anticipated to produce a larger Fast Attack Craft Market Size during the forecast period.

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Geopolitical Tensions and Maritime Security, Increased Emphasis on Multi-Mission Capabilities, and Technological Advancements and Innovation are the major drivers for the Global Fast Attack Craft Market.

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Srishti Verma

Business Consultant
Press Release

Fast Attack Craft Market to Grow with a CAGR of 6.19% Globally through to 2028

Dec, 2023

Geopolitical Tensions and Maritime Security, Increased Emphasis on Multi-Mission Capabilities, and Technological Advancements and Innovation are factors driving the Global Fast Attack Craft market in

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