Naval Gun System Market Size, Share, Growth Report, 2023 | Expected To Increase at a CAGR of 4.25% by 2028 - Introspective Market Research

Market Overview:
The Global Naval Gun System Market Was Valued At USD 7.25 Billion In 2021 And Is Expected To Reach USD 9.71 Billion By The Year 2028, At A CAGR Of 4.25%.

A naval cannon is a piece of artillery that is mounted aboard a vessel and is initially only used in naval combat before being employed for shore bombardment and anti-aircraft purposes. The term often refers to projectile-firing cannons that fire projectiles from tubes and excludes persons dumped overboard, such as intensity costs and naval mines, as well as self-propelled projectiles like torpedoes, rockets, and missiles. Naval guns are typically categorized by their calibre (bore diameter), their calibres (barrel duration expressed in multiples of bore diameter), and their model or reference designation.

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Market Dynamics:
Driver:
The average defence budget has increased, border threats have increased, and naval gun purchases have increased. These factors are responsible for the market growth for naval gun systems. The market for naval gun systems has experienced significant technical advancement, which has led to lower operational and capital expenses. For instance, BAE Systems and the American Navy reached an agreement to provide modernised Mk 45 guns. Similar to this, Thales Group secured a contract with the French Navy to assist in all deployment scenarios, including the use of 12.7 mm and 20 mm guns as well as other weapons.

Opportunities:
Profitable chances for market expansion are provided by technological advancement and spending on safety measures. With the modern characteristics leading to medium calibre, lighter weight, speedier rate of hearthplace, and stronger longer-variety ammunition, the naval cannon has also moved towards a general-motive position. As technology progresses, both the weight of the gun mount and the cost of the fireplace increase. The aforementioned characteristics imply that the naval cannon won't be overtly replaced by missiles shortly, at least not until the missiles become more advantageous than the naval gun.

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Market Segmentation
Segmentation Analysis of Naval Gun System Market:
Based on weapon type, the rail gun segment is expected to dominate the market and is expected to witness a higher CAGR during the forecast period. The EM Railgun makes use of high-power EM energy in place of explosive chemical propellants to fire a projectile farther and quicker than any current gun. When weaponized, a Railgun will supply hypervelocity projectiles on targets, at tiers a long way exceeding any of the cutting-edge naval guns. It may be capable of efficiently intercepting air threats, especially anti-deliver cruise missiles. Railguns additionally provide a great deal large ammunition maintaining potential and decreasing price in step with engagement in comparison to missiles of comparable range. They also can be hired to aid land operations. In addition to navy applications, the United States National Aeronautics and Space Administration (NASA) has proposed to apply a Railgun from a high-altitude plane to fire a small payload into orbit; however, the intense g-forces worried could always limit the utilization to most effective the sturdiest of payloads. The efficacy will most effectively be visible while the Railgun is weaponized.
• Rail Gun
• Laser Gun

Based on the platform, the global market has been segmented into large ships, medium ships, and small ships. The large ships segment accounted for the largest market and is expected to witness the highest CAGR during the forecast period. Owing to growing operational application of heavy naval guns is driving the demand for large ships in the market.
• Large Ships
• Medium Ships
• Small Ships

Based on caliber size, the global market has been divided into < 100 mm, 100-200 mm, >200 mm. The < 100 mm segment is expected to hold the maximum market share and is anticipated to observe the highest CAGR during the forecast period owing 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 more famous naval guns in this caliber size which offer them a significant amount of firepower, engage surface and aerial targets with equal effectiveness.
• 200 mm

Regional Analysis of Naval Gun System Market:
North America is anticipated to dominate the worldwide naval gun system market, especially due to the existence of mounted market players in this region. Additionally, funding in studies and improvement withinside the North American place has ended in competitive technological improvement and its adoption, contributing to speedy increase on this place. In addition, the place is a top production hub and the most important marketplace for naval subsystems. The United States is the primary market withinside the place currently.

Asia-Pacific is expected to foresee a sizeable increase throughout the forecast period, because of numerous conflicts and tensions withinside the areas. Tensions in the Arabian Sea, the Indian Ocean, and the South China Sea are influencing the navies of countries, like India, Pakistan, China, Japan, South Korea, to procure superior naval fight systems, thereby propelling the increase of the naval gun system market.

Europe region is predicted to be the rising country withinside the army simulation and education market. Increasing move border conflicts blended with growing terrorist sports have ended in propelling the worldwide naval gun system market. Additionally, areas have more spending on their naval protection and national safety sectors that has caused the increase of Battlefield Simulation System in the evolved countries.
• North America
o US
o Canada
o Mexico

• Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

• Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

• Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

• Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

• South America
o Brazil
o Argentina
o Rest of SA

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Players Covered in Naval Gun System Market are:
• BAE Systems plc (UK)
• Israel Aerospace Industries (Israel)
• General Dynamics Corporation (US)
• Lockheed Martin Corporation (US)
• Raytheon Company (US)
• Bohemia Interactive Simulations (US)
• Saab AB (Sweden)
• Northrop Grumman Corporation (US)
• Thales Group (France)
• Meggitt PLC (UK)
• Kratos Defense & Security Solutions Inc. (the US)
• Israel Military Industries (Israel)
• L-3 Technologies Inc. (the US)
• PIT-RADWAR S.A. (Poland)
• Boeing (US) and others major players.

Key Industry Developments In Naval Gun System Market
1. In October 2021, BAE Systems has signed the contract of $26 million to provide the U.S. Navy's Constellation class frigates with the fully-automatic 57mm Mk 110 naval gun. The contract awarded earlier this month includes engineering support and calls for two Mk 110s for the USS Constellation (FFG 62) and USS Congress (FFG 63). The new Constellation class of multi-mission guided-missile frigates is developed to operate in blue water and the littorals, for an increased forward naval presence.

2. In November 2021, BAE Systems plans to expand its simulation coaching portfolio by deed Bohemia Interactive Simulations (BISim), the UK-based emptor declared on eleven November. As per BAE, it'll gain "high-fidelity, cost-effective" tools that are supported the newest computer game technology. Hundreds of thousands of people and allied military personnel use BISim' Virtual Battlespace (VBS) computer code product every year, in step with the United States of America personal equity firm The Riverside Company, which has closely-held BISim since 2013.

3. In June 2019, General Dynamics Corporation's GD business unit, Land Systems, recently secured a $25.6-million contract for the assembly of the MK 46 MOD 2 Gun weapon (GWS) for the Littoral warship (LCS) and Landing Platform Dock (LPD) programs. The contract was awarded by the Naval Sea Systems Command, Washington, DC.

The report answers the following questions.
• What is the estimated growth rate of the market for the forecast period 2023-2028?
• What are the emerging technologies that are going to profit the market?
• What are the key driving factors responsible for the growth of the Naval Gun System market?
• What are the opportunities influencing the development of the Naval Gun System market across different regions?
• What are the challenges faced by the Naval Gun System Market?
• What is the estimated CAGR of the Global Naval Gun System market?
• Which are the leading segments of the global Naval Gun System market?

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