Global Naval Gun Market is valued at approximately USD 2.41 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.2% during the forecast period 2024-2032. A naval gun is a large-caliber firearm mounted on a naval vessel, designed for maritime combat. These guns serve various purposes, including engaging surface targets, providing fire support during amphibious operations, and defending against airborne threats. Naval guns are equipped with advanced targeting systems ranging from small-caliber guns for the close defense to larger ones with extended-range capabilities. They evolved with technology incorporating features such as rapid-fire, precision targeting, and the ability to launch different types of ammunition. The primary benefits of the gun are its versatile deployment capabilities against various targets including aerial, sea, and coastal threats, coupled with its swift reaction time crucial for engaging unexpected targets. Other significant advantages encompass its compact size and weight, potential for modular arrangement to suit diverse surface vessels, and absence of dead zones in engagements. These guns contribute to the defense and offensive capabilities of naval fleets crucial in naval warfare. The soaring demand for Electromagnetic (EM) railguns over conventional guns, growing investment in military modernization programs, and increasing defense budgets allocated by governments are the most prominent factors that are propelling the market demand across the globe.

In addition, the rise in focus on the upgradations in existing naval guns and ammunition is exhibiting a positive influence on the demand for naval guns at a substantial rate. The declining capabilities of current seaborne guns have spurred a shift in approach, necessitating enhancements to combat advanced air threats from aircraft and missiles. Advancements in medium-caliber guns, featuring lightweight designs, high rates of fire, and extended ranges, offer versatile applications across multiple roles. Improvements in shipborne antiaircraft fire, including enhanced range effectiveness, more destructive projectiles, increased firing rates, and automated shooting control are poised to bolster naval artillery. Furthermore, innovations in ammunition offer cost-efficient methods to counter ballistic missile threats. For instance, in March 2023, the U.S. Department of Defense and BAE Systems collaborated on developing a Hypervelocity Projectile (HVP) for the U.S. military and allied forces. This projectile enhances the lethality and effectiveness of current and forthcoming weapon systems, facilitating technology expansion while minimizing development, production, and overall ownership expenses. These advancements are poised to stimulate growth within the global Naval Gun Market. Moreover, the rise in geopolitical tensions and security threats, as well as the expansion of maritime trade activities presents various lucrative opportunities over the forecast years. However, the high cost of handling guns and ammunition, along with the technological complexities associated with naval guns are hindering the market growth throughout the forecast period of 2024-2032.

The key regions considered for the Global Naval Gun Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising geopolitical tensions and territorial disputes, increased acquisition of small and large caliber guns, and a surge in naval modernization programs. Furthermore, the adoption of remote weapon systems incorporating artificial intelligence for superior target acquisition further propels regional market expansion. Whereas, North America is expected to grow at a significant CAGR over the forecast years. The growing investments in naval vessels and naval weapons systems, coupled with the reinforcement of naval capabilities are significantly propelling the market demand across the region. For instance, in October 2021, BAE Systems secured a contract with the U.S. Navy for technical support and the delivery of two Mk 110s to the USS Constellation (FFG 62) and USS Congress (FFG 63). The new Constellation-class multi-mission Mk 110-gun system, internationally recognized as the Bofors 57 Mk 3, serves as the preferred deck gun for the Constellation class.

Major market players included in this report are:
BAE Systems plc (U.K.)
Bharat Heavy Electricals Limited (BHEL) (India)
Leonardo S.p.A. (Italy)
Lockheed Martin Corporation (U.S.)
MBDA (France)
Northrop Grumman Corporation (U.S.)
Raytheon Technologies Corporation (U.S.)
Rheinmetall AG (U.S.)
SAAB AB (Sweden)
Thales Group (France)
Recent Developments in the Market:
In November 2023, the Ministry of Defense granted a contract to M/s Bharat Heavy Electricals Limited (BHEL) to acquire 16 Upgraded Super Rapid Fire Gun Mounts (SRGM) and associated equipment/accessories for the Indian Navy, categorized under the Purchase (India) classification. Produced by M/s BHEL at its Haridwar facility, the enhanced SRGM represents a medium caliber missile/aircraft point defense weapon system renowned for its sustained rate of fire and exceptional accuracy.
In November 2023, MKE delivered the initial domestically manufactured 76mm gun to the Turkish Navy. The agreement signed between MKE and Turkish defense authorities encompassed the outfitting of ships 6, 7, and 8 (I-class frigates 2, 3, and 4) under the MILGEM project with the advanced 76mm gun.
In February 2023, BAE Systems, Inc. secured a contract to outfit the Royal Navy's Type 26 frigates with five Mk 45 Maritime Indirect Fire Systems (MIFS). The system integrates a 62-caliber 5-inch Mk 45 Mod 4A gun system with the advanced fully automatic ammunition handling system "AHS." The contract's total value amounted to approximately USD 219 million.
In June 2022, the Police and Coast Guard (PCG) undertook the refurbishment of three types of patrol vessels to enhance their capacity in addressing threats within Singapore waters. These vessels, replacing older models, are integral components of the patrol fleet safeguarding Singapore's coastline. The new PT-class patrol boat is equipped with a stabilized gun system, empowering officers to intercept enemy targets more accurately during pursuit operations.
Global Naval Gun Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2024-2032
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Technology, Caliber, Platform, Component, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
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 Technology:
Fully Automatic
Semi-automatic
By Caliber:
Below 50 mm
50 - 100 mm
Above 100 mm
By Platform:
Large Surface Combatants
Small Surface Combatants
By Component:
Turret System
Radar System
Tracking System
Ammunition Drum
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa