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Global Fast Attack Craft Market to reach USD 7.85 billion by the end of 2029.

Global Fast Attack Craft Market Size study & Forecast, by Type (Non-Missile Armed FAC, Missile-Armed FAC), By Application (Technical Research, National Defense, Fighting, Others) and Regional Analysis, 2022-2029

Product Code: SSAD-77414083
Publish Date: 24-04-2023
Page: 200

Global Fast Attack Craft Market is valued at approximately USD 4.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.2% over the forecast period 2022-2029. Fast attack craft is a small, high speed warship carrying weapons with cruise missiles, rockets, anti-ship missiles, and guns. The main advantage of fast attack craft over other types of warships is their low cost. The Fast Attack Craft market is expanding because of factors such as increasing development of ship-based missile systems and growing maritime security among various countries.

FAC is very effective when combined with modern, high-tech warfare systems like the virtual barrier, underwater acoustic missiles, multi-static antisubmarine, and integrated protection systems. Its prevalence has progressively increased during the last few decades. According to Statista, in 2021, The global revenue of the hypersonic technology market was approximately USD 5.7 billion in 2016, and expected to increase to nearly USD 13 billion in 2031. Furthermore, in 2020, the US hypersonic tech market accounts for nearly 53% of the global market. Another important component driving space increase is maritime security. In the aerospace and defense manufacturing industry, with a revenue of around USD 67 billion , Lockheed Martin surpassed all competitors, including its biggest rivals like Raytheon, Boeing, and Airbus. In addition, in Jan 2023 Lockheed Martin announced the successful first flight of the F-16 Block 70 at its Greenville, South Carolina site. Total flight time was approximately 50 minutes and included airworthiness checks, such as engine, flight control, and fuel system, as well as basic aircraft handling. However, the high cost of Fast Attack Craft stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Fast Attack Craft Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the advanced naval systems and components adopted in combat operations and growing presence of key market players in the region. According to Statista, the number of aircraft in the United States increased in 2021, with estimates holding that the general aviation fleet was 204,405 aircraft, including the number of for-hire carrier aircraft will slightly increase in 2022, reaching 6,870. Furthermore, Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing demand for naval systems among various countries Japan, China, and India, and increasing technological advancement of naval systems in the market space.

Major market players included in this report are:

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

Recent Developments in the Market:
Ø In July 2022, Embraer and BAE Systems announced a strategic partnership that will expand both companies’ footprints in the global defence market by laying the groundwork for a collaborative relationship. Both the companies signed MOU to form a joint venture to develop a defence variant of Eve’s electrical vertical take-off and landing (eVTOL) vehicle at the Farnborough Airshow.

Global Fast Attack Craft Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Type, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type
Non-missile armed FAC
Missile armed FAC

By Application
Technical research
National defense

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Fast Attack Craft Market, by Region, 2019-2029 (USD Billion)
1.2.2. Fast Attack Craft Market, by Type, 2019-2029 (USD Billion)
1.2.3. Fast Attack Craft Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Fast Attack Craft Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Fast Attack Craft Market Dynamics
3.1. Fast Attack Craft Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing development of ship-based missile systems Growing maritime security among various countries.
3.1.2. Market Challenges High-Cost maintenance of Fast Attack Craft
3.1.3. Market Opportunities Growing technological advancements in aviation industry
Chapter 4. Global Fast Attack Craft Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Fast Attack Craft Market, by Type
6.1. Market Snapshot
6.2. Global Fast Attack Craft Market by Type, Performance – Potential Analysis
6.3. Global Fast Attack Craft Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Fast Attack Craft Market, Sub Segment Analysis
6.4.1. Non-missile armed FAC
6.4.2. Missile-armed FAC

Chapter 7. Global Fast Attack Craft Market, by Application
7.1. Market Snapshot
7.2. Global Fast Attack Craft Market by Application, Performance – Potential Analysis
7.3. Global Fast Attack Craft Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Fast Attack Craft Market, Sub Segment Analysis
7.4.1. Technical research
7.4.2. National defense
7.4.3. Fighting
7.4.4. Others
Chapter 8. Global Fast Attack Craft Market, Regional Analysis
8.1. Fast Attack Craft Market, Regional Market Snapshot
8.2. North America Fast Attack Craft Market
8.2.1. U.S. Fast Attack Craft Market Type breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Fast Attack Craft Market
8.3. Europe Fast Attack Craft Market Snapshot
8.3.1. U.K. Fast Attack Craft Market
8.3.2. Germany Fast Attack Craft Market
8.3.3. France Fast Attack Craft Market
8.3.4. Spain Fast Attack Craft Market
8.3.5. Italy Fast Attack Craft Market
8.3.6. Rest of Europe Fast Attack Craft Market
8.4. Asia-Pacific Fast Attack Craft Market Snapshot
8.4.1. China Fast Attack Craft Market
8.4.2. India Fast Attack Craft Market
8.4.3. Japan Fast Attack Craft Market
8.4.4. Australia Fast Attack Craft Market
8.4.5. South Korea Fast Attack Craft Market
8.4.6. Rest of Asia Pacific Fast Attack Craft Market
8.5. Latin America Fast Attack Craft Market Snapshot
8.5.1. Brazil Fast Attack Craft Market
8.5.2. Mexico Fast Attack Craft Market
8.5.3. Rest of Latin America Fast Attack Craft Market
8.6. Rest of The World Fast Attack Craft Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. China Shipbuilding & Offshore International Co Ltd Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Garden Reach Shipbuilders and Engineers
9.2.3. BAE Systems PLC
9.2.4. Hanjin Heavy Industries & Construction
9.2.5. CMN Group
9.2.6. Damen Shipyards Group
9.2.7. Navantia
9.2.8. Lurssen
9.2.9. Fincantieri – CantieriNavaliItalianiSpA
9.2.10. Goa Shipyard Limited
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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