A fast attack craft (FAC) is a warship that is agile, compact, fast, and capable of attack. It is fitted with anti-ships missiles, torpedoes, and weapons. The swift attack craft are used in a variety of missions, including maritime surveillance, anti
-surface warfare, anti-air warfare, search and rescue, and anti-piracy. Quick attack craft are favored in coastal areas rather than in the middle of the ocean because they lack defensive capabilities. They are often seen in offensive positions. The fast attack craft, when equipped with guided missile, can pose a serious threat to even the largest capital ships. When combined with modern advanced warfare systems like the virtual barrier, underwater acoustic missiles, multi-static antisubmarine (MACE), and integrated protection systems, FAC becomes extremely successful.
MARKET SCOPE
The "Global Fast Attack Craft (FAC) Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the fast attack craft (FAC) market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading fast attack craft (FAC) market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented as missile-armed fast attack crafts and non-missile armed fast attack crafts.
- Based on application, the market is segmented into defense and research organizations.
MARKET DYNAMICS
Drivers:
- The rise in production of ship-based missile systems and increased focus on maritime protection are two factors driving the growth of the fast attack craft market.
- Countries like china's increased emphasis on seaborne dominance may help the fast attack craft (FAC) market grow even faster.
Restraints:
- The high maintenance costs of such vessels are stifling the demand for fast attack craft.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). The fast attack craft (FAC) market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive porter's five forces analysis affecting the fast attack craft (FAC) market.
IMPACT OF COVID-19 ON FAST ATTACK CRAFT (FAC) MARKET
The supply chain of spare parts for missile-armed fast attack craft (FAC) has been impeded as a result of the COVID-19 scenario, which has resulted in proclaimed lockdowns around the world. Military actions that have been suspended or reduced have reduced the prospects for swift attack craft businesses, and their commercial development potential has been harmed. As the world moves toward, there will be a significant increase in demand for missile-armed rapid assault vessels in the near future. Government cuts to defence budget have had an influence on the market for missile-armed rapid attack craft, as some anticipated purchases have been put on hold. The COVID-19 issue has harmed the economies of governments all around the world, perhaps leading to the cancellation or postponement of defence programmes. Such repercussions will have a direct impact on the global market for missile-armed fast attack craft (FAC).
MARKET PLAYERS
The report covers key developments in the fast attack craft (FAC) market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from fast attack craft (FAC) market are anticipated to lucrative growth opportunities in the future with the rising demand for fast attack craft (FAC) in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fast attack craft (FAC) market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BAE Systems
- CMN
- CSOC
- Damen Shipyards Group
- FINCANTIERI S.p.A.
- GRSE
- Goa Shipyard Limited
- Hanjin Heavy Industries and Construction
- Lurssen
- Navantia