Europe Naval Vessels Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Europe Naval Vessels Market is Segmented by Vessel Type (Submarine, Frigates, Corvettes, Aircraft Carriers, Destroyers, and Other Vessel Types) and Geography (United Kingdom, France, Germany, Russia, Spain, Finland, Ukraine, and the Rest of Europe). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Europe Naval Vessels Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Europe Naval Vessels Market Size

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Europe Naval Vessels Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 39.06 Billion
Market Size (2030) USD 63.51 Billion
CAGR (2025 - 2030) 10.21 %
Market Concentration High

Major Players

Europe Naval Vessels Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Naval Vessels Market Analysis

The Europe Naval Vessels Market size is estimated at USD 39.06 billion in 2025, and is expected to reach USD 63.51 billion by 2030, at a CAGR of 10.21% during the forecast period (2025-2030).

The market is propelled by recent developments of frigates and offshore patrol vessels, owing to their lethality, speed, and maneuverability. The incidents, such as the rise in illegal trespassing of immigrants and drug trafficking in countries such as Italy, Spain, and Albania, have led to the rise in demand for naval vessel developments in this region. Other factors, such as the implementation of the United Nations Convention on the Law of the Sea (UNCLOS) III norms, the need to patrol Exclusive Economic Zones that stretch up to 200 miles beyond national coastlines, and the need for cost-effective naval forces after Cold War era are propelling the market's growth in the region.

The advanced technological developments, such as initiatives to deploy Aegis technology-equipped ships in the European naval fleet and investments in robotics and other digital technology development by local naval shipbuilders, are supporting the growth of the naval vessels market in Europe. However, stringent rules and regulations to reduce emissions and pollution in the ocean are a challenge for naval vessel manufacturers.

Europe Naval Vessels Industry Overview

The European naval vessels market is consolidated with the presence of prominent players, such as Navantia S.A. SM.E, Naval Group, FINCANTIERI S.p.A., ThyssenKrupp AG, and BAE Systems plc, that are dominating the market. The key players in the market own several shipbuilding yards dedicated to naval vessel developments. The prominent revenue generation strategy of key players is winning contracts and orders from European and foreign governments. 

The market players are also collaborating to develop advanced naval vessels to cater to the demands of the armed forces. For instance, a consortium led by Fincantieri, Naval Group, and Navantia submitted an industrial proposal to develop a European patrol corvette (EPC) in December 2021. The EPC is expected to replace several classes of ships, from patrol vessels to light frigates, in service of the European countries. Such partnerships are expected to help the players expand their business during the forecast period.

Europe Naval Vessels Market Leaders

  1. Naval Group

  2. FINCANTIERI S.p.A.

  3. BAE Systems plc

  4. Navantia S.A. SM.E

  5. ThyssenKrupp AG

  6. *Disclaimer: Major Players sorted in no particular order
Europe Naval Vessels Market Concentration
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Europe Naval Vessels Market News

  • July 2023: Europe's Organisation for Joint Armament Cooperation (OCCAR) awarded Fincantieri/Naval Group joint venture Naviris and MBDA/Thales joint venture Eurosam a contract for the mid-life upgrade of the French and Italian navies' Horizon-class frigates.
  • February 2023: BMT signed a sub-contract with Navantia UK to officially formalize its contribution to the UK Royal Navy's future Fleet Solid Support (FSS) program. The sub-contract has been awarded after the selection of Team Resolute for the production and delivery of FSS vessels to the Royal Navy under a USD 1.69 billion contract.

Europe Naval Vessels Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Vessel Type
    • 5.1.1 Submarine
    • 5.1.2 Frigates
    • 5.1.3 Corvettes
    • 5.1.4 Aircraft Carrier
    • 5.1.5 Destroyers
    • 5.1.6 Other Vessel Types
  • 5.2 Geography
    • 5.2.1 Europe
    • 5.2.1.1 United Kingdom
    • 5.2.1.2 France
    • 5.2.1.3 Germany
    • 5.2.1.4 Russia
    • 5.2.1.5 Spain
    • 5.2.1.6 Finland
    • 5.2.1.7 Ukraine
    • 5.2.1.8 Rest of Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 A&P Group Limited
    • 6.1.2 FINCANTIERI S.p.A.
    • 6.1.3 Naval Group
    • 6.1.4 Fr. Lürssen Werft GmbH & Co. KG
    • 6.1.5 German Naval Yards Kiel GmbH
    • 6.1.6 Dassault Systèmes
    • 6.1.7 BAE Systems plc
    • 6.1.8 ThyssenKrupp AG
    • 6.1.9 Navantia S.A. SM.E
    • 6.1.10 JSC United Shipbuilding Corporation
    • 6.1.11 Rauma Marine Constructions
    • 6.1.12 Smart Maritime Group
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Europe Naval Vessels Industry Segmentation

A naval vessel or ship is a military vessel used by a navy. Generally, naval vessels are damage-resilient and armed with weapon systems.

The Europe naval vessels market is segmented by vessel type and geography. By vessel type, the market is segmented into aircraft carriers, destroyers, frigates, corvettes, cruisers, submarines, and other vessel types. The other vessel types include amphibious warfare ships, littoral combat ships, cruisers, mine countermeasure ships, and patrol ships. The report also offers the market size and forecasts for seven countries across the region. For each segment, the market sizing and forecasts have been done based on value (USD).

Vessel Type Submarine
Frigates
Corvettes
Aircraft Carrier
Destroyers
Other Vessel Types
Geography Europe United Kingdom
France
Germany
Russia
Spain
Finland
Ukraine
Rest of Europe
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Europe Naval Vessels Market Research FAQs

How big is the Europe Naval Vessels Market?

The Europe Naval Vessels Market size is expected to reach USD 39.06 billion in 2025 and grow at a CAGR of 10.21% to reach USD 63.51 billion by 2030.

What is the current Europe Naval Vessels Market size?

In 2025, the Europe Naval Vessels Market size is expected to reach USD 39.06 billion.

Who are the key players in Europe Naval Vessels Market?

Naval Group, FINCANTIERI S.p.A., BAE Systems plc, Navantia S.A. SM.E and ThyssenKrupp AG are the major companies operating in the Europe Naval Vessels Market.

What years does this Europe Naval Vessels Market cover, and what was the market size in 2024?

In 2024, the Europe Naval Vessels Market size was estimated at USD 35.07 billion. The report covers the Europe Naval Vessels Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Naval Vessels Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Europe Naval Vessels Industry Report

Statistics for the 2025 Europe Naval Vessels market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Naval Vessels analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.