Military Speedboat Market Report 2025

The military speedboat market size has grown strongly in recent years. It will grow from $2.92 billion in 2024 to $3.13 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth observed during the historic period was driven by heightened coastal surveillance activities, escalating maritime piracy threats, increased defense spending following conflicts, the expansion of naval special operations forces, and a greater role in anti-smuggling efforts.

The military speedboat market size is expected to see strong growth in the next few years. It will grow to $4.1 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. Growth during the forecast period is expected to result from an increased emphasis on unmanned surface vessels, heightened cross-border maritime conflicts, greater funding for rapid response fleets, ongoing naval modernization efforts, and a rising need for versatile patrol ships. Key trends anticipated include progress in stealth technologies, new hybrid propulsion solutions, the creation of modular combat platforms, advancements in autonomous navigation research, and the incorporation of artificial intelligence technologies.

The growing concerns over maritime security are expected to drive the expansion of the military speedboat market in the future. Maritime security issues involve threats and challenges related to the safety, security, and lawful use of oceans, including piracy, terrorism, smuggling, illegal fishing, and territorial disputes. These concerns are escalating due to increasing geopolitical tensions and territorial conflicts in strategic sea routes, which are vital for global trade and military strategy, making them hotspots for competition and conflict among countries. Military speedboats play a crucial role in maritime security by providing rapid response capabilities, coastal patrols, and interception of threats to safeguard territorial waters. For example, in January 2025, the ICC International Maritime Bureau, a UK-based membership organization, reported 116 incidents involving ships in 2024, up from 115 in 2022. Among these incidents, 94 vessels were boarded, 13 experienced attempted attacks, six were hijacked, and three were fired upon. The number of crew members taken hostage or kidnapped rose to 126 in 2024, compared to 73 in 2023 and 41 in 2022. Additionally, 12 crew members were threatened, and one was injured in 2024. Consequently, increasing maritime security challenges are fueling growth in the military speedboat market.

Key players in the military speedboat market are advancing technologies by integrating multiple systems to boost operational efficiency, enhance situational awareness, and improve survivability in high-risk maritime environments. This system-level integration involves combining advanced sensors, weapons, communication, and navigation technologies into a single platform to optimize overall performance and functionality. For instance, in April 2024, Metal Shark Boats LLC., a US-based manufacturer of military, law enforcement, and commercial vessels, introduced two advanced unmanned surface vehicles (USVs) designed for military use: the Prowler and the Frenzy micro USVs. The Prowler is a 30-foot welded aluminum vessel that uniquely blends autonomous, amphibious, and semi-submersible features with the strong performance of a deep-V monohull. This innovative craft can operate both on land and at sea and includes self-launch and self-recovery capabilities, removing the need for external launch equipment. In its semi-submersible mode, the Prowler can remain on station for extended durations with only its mast and antennas visible above water, significantly enhancing stealth and mission survivability.

In November 2022, Bollinger Shipyards LLC., a US-based shipbuilding and repair firm, acquired VT Halter Marine Inc. for an undisclosed sum. This acquisition allows Bollinger Shipyards to increase its shipbuilding and repair capacity, improve its capabilities, and reinforce its position in the defense and commercial maritime markets to better serve key clients and support ongoing and upcoming naval projects. VT Halter Marine Inc. is a US-based company specializing in military and commercial shipbuilding services.

Major players in the military speedboat market are BAE Systems, Huntington Ingalls Industries Inc., Brunswick Corporation, Lürssen Werft GmbH & Co. KG, Garden Reach Shipbuilders & Engineers Limited, Fr. Fassmer GmbH & Co. KG, M.A.G. Boats, Metal Shark Boats LLC, Safe Boats International LLC, Incat Tasmania Pty Ltd., ASIS Boats, North Sea Boats, Swiftships Shipbuilders LLC, Hodgdon Yachts Inc., Willard Marine Inc., Damen Shipyards Group, Aksum Marine LLC, Narwhal Boats, Holyhead Marine Services Limited, and Marine Alutech Oy Ab.

North America was the largest region in the military speedboat market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in military speedboat report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the military speedboat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp hike in U.S. tariffs and the associated trade disputes in spring 2025 are notably impacting the aerospace and defense sector by raising costs for titanium, carbon fiber composites, and avionics materials largely sourced from global suppliers. Defense contractors, locked into fixed-price government contracts, absorb these added costs, while commercial aerospace firms face airline pushback on higher aircraft prices. Delays in component shipments due to customs bottlenecks further disrupt tight production schedules for jets and satellites. The industry is responding by stockpiling critical materials, seeking waivers for defense-related imports, and collaborating with allied nations to diversify supply chain.

A military speedboat is a fast, high-performance naval vessel designed for combat, reconnaissance, patrol, or special missions. It often incorporates lightweight construction, armored hulls, and built-in weapon or surveillance systems to function effectively in coastal, river, or near-shore environments. These boats are utilized for quick troop transport, coastal defense, maritime interdiction, anti-smuggling activities, and supporting special forces in shallow or high-risk waters.

The primary categories of military speedboats include gunboats, torpedo boats, and missile boats. Gunboats are small, armed vessels used mainly for coastal defense, patrol, and support roles. They are built from various materials like aluminum, fiberglass, and steel. Propulsion options vary and can include diesel engines, electric motors, hybrid systems, or gas turbines. Gunboats are employed in missions such as rescue, maritime patrol, reconnaissance, and close-quarters attacks.

The military speedboats market research report is one of a series of new reports that provides military speedboats market statistics, including the military speedboats industry global market size, regional shares, competitors with the military speedboats market share, detailed military speedboats market segments, market trends, and opportunities, and any further data you may need to thrive in the military speedboats industry. This military speedboats market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The military speedboat market consists of sales of interceptors, fast attack craft (FAC), landing craft, and swarm boats. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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