In this article, we look at the 16 strongest navies in the world in 2024. You can skip our detailed analysis on the ongoing developments in the naval industry and head over directly to the 5 Strongest Navies in the World in 2024.

Navies continue to remain a vital pillar of national defense in their standout role as the guardians of a nation’s maritime interests by serving as a shield against threats emanating from the oceans. The increase in conflicts and disputes over international waters have further enhanced the significance of this branch of military, with governments allocating hefty budgets on procuring warships and arming existing vessels.

US Navy Projects

According to a recent report in USNI News, the Department of Navy in the United States has sought a budget of $257.6 billion for 2025, and is seeking to buy six battle force ships which would include an attack submarine, two destroyers, one frigate, an amphibious transport dock, and a medium landing ship.

The US is also currently working on developing its upcoming nuclear powered ballistic missile submarine, the Columbia-class, which is projected to enter service in 2031. The project started in 2020, and is being spearheaded by General Dynamics Corporation (NYSE:GD) as the primary contractor for the program. The new ballistic missile submarines will replace the US Navy’s aging Ohio-class submarines.

On the other hand, the nuclear-powered Gerald R. Ford class aircraft carriers are being built by the Huntington Ingalls Industries, Inc. (NYSE:HII) to replace the Nimitz class design. These ships will be an improved version of their predecessors, and would allow for greater aircraft deployment in the carriers, reduce the number of sailors, and provide higher electrical power for ship systems. The 50-year operating and support costs are also expected to drop $4 billion per ship. 

It is expected that the Gerald R. Ford class program would have at least four aircraft carriers – CVN-78, CVN-79, CVN-80, and CVN-81. The CVN-78 was procured for a whopping $13.3 billion in 2008 and became operational in 2021. It was first deployed for operational stress tests in the Atlantic in late 2022, and successfully completed more than 1,250 aircraft flights. The CVN-79 was procured for $12.7 billion in 2013, and is scheduled for delivery in 2025. It will be capable of deploying Lockheed Martin Corporation (NYSE:LMT)’s F-35C fighter jets.

Major Companies in the Naval Industry

General Dynamics Corporation (NYSE:GD) is one of the major contributors of the American Navy’s strength, and has been designing warships for the military since 1960. It is also the maker of the Virginia-class and Seawolf-class of submarines operated by the US Navy. Last year in April, General Dynamics Corporation (NYSE:GD) was awarded a $847 million contract to repair and modernize the US Navy’s fleet of aircraft carriers.

Another key player in the industry is Huntington Ingalls Industries, Inc. (NYSE:HII), which is the largest shipbuilding company in the United States. The company generated a record-high revenue of $11.5 billion in 2023, a year-on-year increase of 7.3%. This included a $3.3 billion order by the US Navy to build five DDG-51 destroyers over the next decade. Huntington Ingalls Industries, Inc. (NYSE:HII) ranks 13th among the Top 20 Defense Contractors in 2024.

Lockheed Martin Corporation (NYSE:LMT), despite being known for its aerospace expertise, has over the years played an active role in enhancing the naval strength of the United States by featuring in sea-based tests of aircraft carriers. The company is currently providing fleet support for the deployment of its Trident strategic weapon system in the Columbia-class submarine program as well. In October last year, Lockheed Martin Corporation (NYSE:LMT) was awarded a $23 million contract by the Navy for software integration and engineering of its Integrated Combat System.

Methodology

Five weighted metrics have been considered to rank the strongest navies in the world. These are aircraft carriers (40%), destroyers (25%), submarines (20%), corvettes (10%) and total naval assets (5%). We observed where all countries ranked in strength on each metric and then assigned them weighted ranking scores. Scores for each metric were then aggregated to get an overall score. The strongest navies in the world are listed in ascending order of these scores.

Data has been sourced from Yahoo Finance and Insider Monkey articles 15 Navies with the Most Submarines in the World and 12 Countries With Most Aircraft Carriers, as well as the 2024 Military Strength Rankings of Global Firepower Index.

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.

Let’s now head over to the list of the most powerful navies in the world in 2024.

Top 16 Most Powerful Navies in the World:

16. Australia

Naval Assets: 43

Submarines: 6

Aircraft Carriers: None

Destroyers: 3

Corvettes: None

Score: 0.34

Tensions between Australia and China in recent years over the formation of AUKUS, a trilateral security agreement between Australia, the UK, and the US, have brought Canberra’s naval capabilities to the spotlight. The Australian Navy may be small in size, but includes six submarines, three destroyers, and about 13 patrol vessels. Its naval strength is set to be bolstered with the US Navy planning to sell its Virginia class of submarines to Australia under the AUKUS pact between 2032 and 2035.

15. Taiwan

Naval Assets: 93

Submarines: 4

Aircraft Carriers: None

Destroyers: 4

Corvettes: 2

Score: 0.39

Taiwan’s government, right since independence, has focused on building a potent military to prepare itself for what it perceives as an existential threat from China. The country operates 93 naval vessels according to the Global Firepower Index, which include four submarines, four destroyers, two corvettes, 22 frigates, and 10 countermine warships, along with several amphibious assault vehicles and patrol vessels.

14. Thailand

Naval Assets: 293

Submarines: None

Aircraft Carriers: 1

Destroyers: None

Corvettes: 6

Score: 0.43

The World Directory of Modern Military Warships (WDMMW) describes the Thai Navy as a surface force that is focused around regional and local defense, especially considering that it has no submarines and destroyers. A key and rare strength of Thailand’s Navy, however, is that it is among the few countries in the world to operate an aircraft carrier. In addition to this, it also possesses six corvettes, seven frigates, and 12 amphibious assault vessels. According to a report in Reuters, Bangkok is working with Beijing on procuring three Yuan Class S26T submarines, and has already paid an initial installment of $193.7 million as part of the deal.

13. Pakistan

Naval Assets: 114

Submarines: 8

Aircraft Carriers: None

Destroyers: 2

Corvettes: 7

Score: 0.45

Pakistan has one of the strongest navies in the world, with eight submarines, two destroyers, and seven corvettes. Despite the country’s currency and foreign reserves plunging, Pakistan’s naval modernization plan remains on track. According to a report in Defense News, the South Asian nation is expected to completely renew its entire naval fleet by the end of the decade. Last year, China delivered two Type 054 A/P frigates to the Pakistan Navy, which are now its most capable surface ships. 

12. Spain

Naval Assets: 168

Submarines: 3

Aircraft Carriers: 1

Destroyers: None

Corvettes: None

Score: 0.46

Despite being overshadowed by other, leading European navies, Spain maintains a well-balanced naval force with 168 assets, which include three submarines, 11 frigates, six mine vessels, and several auxiliary ships and patrol vessels. Spain also possesses a light aircraft carrier named Juan Carlos I, which is capable of launching the Harrier fighter jets. The carrier has a displacement of 26,000 tonnes and a range of 9,000 nautical miles.

11. South Korea

Naval Assets: 200

Submarines: 22

Aircraft Carriers: None

Destroyers: 13

Corvettes: 5

Score: 0.51

South Korea has emerged in recent years as a prominent Asian naval power. It currently boasts the sixth largest fleet of submarines in the world, which mostly notably includes the Dosan Ahn, which is the largest of all of its submersible vessels, and has a displacement of more than 3,000 tonnes. The country also operates 13 destroyers, which comprise of four Sejong the Great class (KDX-III), six Chungmugong Yi Sunshin class (KDX-II), and three Kwanggaeto the Great class (KDX-I).

10. Brazil

Naval Assets: 134

Submarines: 4

Aircraft Carriers: 1

Destroyers: None

Corvettes: 2

Score: 0.52

Brazil’s navy has been strengthened with the acquisition of the Atlantico aircraft carrier (originally HMS Ocean) from the United Kingdom’s Royal Navy in 2018 for a deal valued at $115 million. It is the only carrier in South America, and has a displacement of 21,500 tonnes. The Brazilian government plans on using the carrier for its drone operations. The country also has four submarines and two corvettes in its naval fleet.

9. Turkiye

Naval Assets: 186

Submarines: 12

Aircraft Carriers: 1

Destroyers: None

Corvettes: 9

Score: 0.63

Turkiye has one of the strongest navies in the world, with 45,000 active personnel and an impressive fleet of naval assets. The country operates 12 submarines, comprising three classes – Ay (Type 209/1200), Gür (Type 209T2/1400), and Preveze (Type 209T/1400). The country is expected to add six Reis-class of submarines with air independent propulsion capabilities to the fleet by 2027, which will further enhance the potential of the Turkish Navy. Turkiye also operates an aircraft carrier that is equipped with aviation facilities, allowing aircrafts to land and launch from the ship.

8. France

Naval Assets: 128

Submarines: 9

Aircraft Carriers: 1

Destroyers: 10

Corvettes: None

Score: 0.75

The French navy is among the most powerful naval forces in the world. Its fleet of nine submarines include five nuclear-powered submarines, while four are nuclear ballistic missile submarines. The latter are able to carry up to 16 M45 ballistic missiles and a TN-71 thermonuclear warhead. France’s aircraft carrier, named after its former president Charles de Gaulle, is one of the most potent warships in the world. It comes with a displacement of 75,000 tonnes and deploys some of the finest aircrafts around, including Rafale fighter jets, E-2 Hawkeye aircrafts, and military helicopters. The country also operates 10 destroyers and 11 frigates.

7. Italy

Naval Assets: 309

Submarines: 8

Aircraft Carriers: 2

Destroyers: 4

Corvettes: None

Score: 0.77

Italy boasts one of the most powerful militaries in the world, with the navy being one of its key areas of strength. The country maintains a large fleet of naval assets, which include two aircraft carriers, three amphibious assault ships, four destroyers, eight submarines, and 13 frigates. The Italian Navy has a manpower of over 30,000 active personnel. It is among the strongest navies in the world in 2024.

6. United Kingdom

Naval Assets: 117

Submarines: 10

Aircraft Carriers: 2

Destroyers: 6

Corvettes: None

Score: 0.79

The Royal Navy of the United Kingdom ranks sixth among the strongest navies in the world. Its fleet size may not be as large as some of the other countries have, but is equipped with a great variety of modern ships. It is the one of only six navies to operate all nuclear submarines – with the standout submersible being the Astute class, which is capable of carrying 36 torpedoes, anti-ship Harpoon missiles, and Tomahawk cruise missiles. The United Kingdom’s two aircraft carriers, HMS Queen Elizabeth and HMS Prince of Wales, both have a tonnage of 72,000 each and can have a capacity to deploy 36 fighter jets at a time.

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Disclosure: None. 16 Strongest Navies in the World in 2024 is originally published on Insider Monkey.