Military Frigates Market Insights Video

According to Cognitive Market Research, the global Military frigates market size is USD 24581.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.40% from 2024 to 2031.

• North America held the major market of more than 40% of the global revenue with a market size of USD 9832.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.6% from 2024 to 2031.
• Europe accounted for a share of over 30% of the global market size of USD 7374.36 million.
• Asia Pacific held the market of around 23% of the global revenue with a market size of USD 5653.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
• Latin America market of more than 5% of the global revenue with a market size of USD 1229.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031.
• Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 491.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.
• The dominant end-use category is military and defense. Military frigates are primarily designed and employed by naval forces worldwide for various military missions, including naval warfare, maritime security, and power projection.