Surface Ships are equipped with weapon launch systems such as anti-submarine missile launchers, torpedo launchers, missile launchers, and vertical missile launchers. The global surface ship market is expected to grow from USD 35.54 billion in 2020 to USD 41 billion in 2025, at a CAGR of 2.32% during the forecast period. The surface ship market can be segmented by the system and application. Based on the system the overall market for surface warships can be segmented as marine engine systems, weapon launch systems, sensor systems, control systems, electrical systems, and auxiliary systems. Based on the application there are search and rescue, combat operations, MCM operations, and coastal surveillance.
New technologies in naval ships and surface combatants enable safe and efficient maritime operations. Robotics in shipbuilding is used in shipyards to perform welding, heavy loads, explosives, painting, and other tasks. Geoje Shipyard, headquartered in Korea, plans to launch about 30 ships annually. About 67% of the production process is performed using robotic systems.
These robotic systems are increasing the productivity of the shipbuilding industry. Hyundai Heavy Industries, which developed the mini welding robot, plans to introduce the robot to the shipbuilding sector. The increasing demand for robotics technology in shipbuilding is refueling naval vessels and surface combatants market growth.
The development costs connected with the construction of naval vessels and surface combatants serve as a key market restraint. Weapon launch systems, sensor systems, auxiliary systems, communication systems, and a battle management system are all included in the cost of naval vessels and surface combatants. The majority of naval shipbuilding contracts are long-term, and delays in shipbuilding production may increase the cost of the navy ship and surface combatant programs.
The growth in large-scale additive manufacturing is expected to be one of the key drivers for the Surface Warships Market. This technology is used to create complex geometric shapes for warships and surface ships. 3D Printing was originally used to develop prototypes and scale models of future warships and ships. However, the rapid adoption of 3D printing for small metals and composites is driving the naval and surface ship markets. Technologically advanced 3D printers are used to create complex parts such as metal plates, metal pipes, cylinders, as well as curved and undulating shapes of warships. Faster product development, on-the-fly repairs, faster cavity forming, elimination of human error when interpreting complex drawings and machine descriptions, and low-cost manufacturing are key features of 3D printing technology. The increasing adoption of 3D printing technology in the naval industry is expected to drive market growth.
The growing number of long-term naval shipbuilding projects undertaken by major market players is driving the market growth. The introduction of technologies like 3D Printing is expected to further modulate the trends in this market. 3D printing technology is used on naval ships to create complex geometric shapes. The introduction of water combat vehicles is expected to be a key trend within this market. The market dominance for some of the players within this market is anticipated to be due to their diversified product portfolio coupled with research and development.