Key Developments

In December 2023, the Indian Navy officially added the INS Imphal, a new stealth-guided missile destroyer, to its fleet at a ceremony in Mumbai. The INS Imphal is equipped with advanced weapons and sensors like surface-to-air missiles, anti-ship missiles, and torpedoes.
In July 2023, the U.S. Senate approved USD 844.3 billion for the US Department of Defense, and announced plans to build and introduce 10 new ships, including submarines, destroyers, frigates, an oiler, a submarine tender, and an amphibious transport dock
In June 2023, India and the Philippines announced a partnership to improve maritime security. This expanded defense partnership will allow the Philippines to obtain defense equipment through a concessional line of credit, and includes the establishment of a resident Defense Attaché office in Manila, with consideration of India's offer.
In January 2022, Elbit Systems Sweden agreed to provide combat management systems to the Royal Swedish Navy. These systems will enhance underwater and surface tracking capabilities using real-time data, live video streaming, and imagery data, improving operational capabilities and decision-making during mine countermeasure missions.

Maritime Security Market Report Snapshots