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Global Military Shipbuilding & Submarines Industry Data and Analysis
Over the past five years, the industry has grown because of large-scale government investments in advanced destroyers, aircraft carriers and nuclear-powered submarines. Countries including the United States, United Kingdom, Australia and Japan have prioritized replacing aging vessels and adopting new stealth technologies. Acquisition programs integrating naval missile defense and unmanned systems have shaped industry output, especially with increased spending on Virginia-class submarine upgrades and the UK's Dreadnought-class. Downstream, the North Atlantic Treaty Organization (NATO) and Indo-Pacific defense alliances have increased orders for anti-submarine warfare ships in response to geopolitical tensions. Government military budgets act as the primary source of demand, directly impacting the pace of shipyard construction schedules and investment in radar and sensor integration. Industry revenue has been accelerating at a CAGR of 4.9% over the past five years and is expected to total $87.1 billion in 2025, when revenue will fall by an estimated 3.5%.
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What's included in this industry analysis
IBISWorld's research coverage on the Global Military Shipbuilding & Submarines industry includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released July 2025.
About this industry
What's this industry report about?
The Global Military Shipbuilding & Submarines industry operates under the industry code C2542-GL. Companies in this industry operate shipyards and boatyards. Shipyards are fixed facilities with dry docks and fabrication equipment capable of building a naval ship. These builders manufacture frigates, destroyers, cruisers, amphibious transport ships, aircraft carriers, patrol ships and submarines. Companies also provide ship repair and conversion activities. Manufacturers similarly build boats, cabin cruisers, dinghies, jet boats, patrol boats, rowboats and other support vessels for navies and coast guards. Related terms covered in the Global Military Shipbuilding & Submarines industry include long ton, littoral combat, submarine, frigate, supercarrier and blue water navy.
What's included in this industry?
Products and services covered in Global Military Shipbuilding & Submarines industry include Surface vessels , Submarines and Repair, maintenance and overhaul services.
What companies are included in this industry?
Companies covered in the Global Military Shipbuilding & Submarines industry include General Dynamics Corporation, Huntington Ingalls Industries Inc. and BAE Systems PLC.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Global Military Shipbuilding & Submarines industry.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Global Military Shipbuilding & Submarines industry.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Global Military Shipbuilding & Submarines industry.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Global Military Shipbuilding & Submarines industry. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Global Military Shipbuilding & Submarines industry. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Global Military Shipbuilding & Submarines industry. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Global Military Shipbuilding & Submarines industry. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Global Military Shipbuilding & Submarines industry.
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Frequently Asked Questions
What is the market size of the Global Military Shipbuilding & Submarines industry in 2026?
The market size of the Global Military Shipbuilding & Submarines industry is $87.1bn in 2026.
How many businesses are there in the Global Military Shipbuilding & Submarines industry in 2025?
There are 984 businesses in the Global Military Shipbuilding & Submarines industry, which has grown at a CAGR of 2.7 % between 2020 and 2025.
How may import tariffs affect the Global Military Shipbuilding & Submarines industry?
The Global Military Shipbuilding & Submarines industry is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Global Military Shipbuilding & Submarines industry?
The Global Military Shipbuilding & Submarines industry is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Global Military Shipbuilding & Submarines industry grown or declined over the past 5 years?
The market size of the Global Military Shipbuilding & Submarines industry has been growing at a CAGR of 4.9 % between 2020 and 2025.
What is the forecast growth of the Global Military Shipbuilding & Submarines industry over the next 5 years?
Over the next five years, the Global Military Shipbuilding & Submarines industry is expected to grow.
What are the biggest companies in the Global Military Shipbuilding & Submarines industry?
The biggest companies operating in the Global Military Shipbuilding & Submarines industry are General Dynamics Corporation, Huntington Ingalls Industries Inc. and BAE Systems PLC
What does the Global Military Shipbuilding & Submarines industry include?
Surface vessels and Submarines are part of the Global Military Shipbuilding & Submarines industry.
Which companies have the highest market share in the Global Military Shipbuilding & Submarines industry?
The company holding the most market share in the Global Military Shipbuilding & Submarines industry is General Dynamics Corporation.
How competitive is the Global Military Shipbuilding & Submarines industry?
The level of competition is moderate and steady in the Global Military Shipbuilding & Submarines industry.
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