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The ranking looked at the total number of warships and submarines, alongside factors like the age of a fleet, its logistical support, and attack and defense capabilities.
It also looked at the balance of each force: How many different types of assets they have, and if they are concentrating their assets in one area. It included most ships but left out smaller craft, survey ships, and historical ceremonial vessels.
The ranking distinguished between several classes of combat ship — listing the relatively small corvette and frigate types as well as larger destroyers and cruisers.
Each navy was given a final "True Value Rating" to measure them against one another.
This is how the top 25 countries stack up:
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25: Brazil
A Brazilian sailor with a helicopter on board the ship Navio Atlantico in February 2023.REUTERS/Roosevelt Cassio
24: Singapore
Singapore's RSS Sovereignty in the waters off the island nation in May 2017.AP Photo/Wong Maye-E
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23: Canada
The Royal Canadian Navy's offshore patrol vessel HMCS Harry DeWolf returns after a circumnavigation of North America in December 2021.REUTERS/Ted Pritchard
22: Greece
Greek sailors at the launch ceremony of the fast attack missile ship Lt. Vlachakos at a naval base near Athens in September 2022.AP Photo/Thanassis Stavrakis
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21: Thailand
A Thai sailor in February 2022.REUTERS/Soe Zeya Tun
20: Australia
Royal Australian Navy Ships Canberra, Supply, and Warramunga sail in formation during Exercise Rim of the Pacific 2022.Petty Officer 2nd Class Wesley Richardson/Australian Defense Force via AP
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19: Iran
Islamic Revolutionary Guard Corps (IRGC) speedboats during an exercise in Abu Musa Island, in a picture obtained on August 2, 2023IRGC/WANA (West Asia News Agency)/Handout via REUTERS
18: Germany
German Chancellor Olaf Scholz being transferred the frigate Mecklenburg-Vorpommern during a visit the naval forces in Rostock in June 2023.Kay Nietfeld/Pool via REUTERS
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17: Spain
Spanish AV-8B Harrier IIs land on the assault ship-aircraft carrier LHD Juan Carlos I during a 2019 NATO military exercise in the Baltic Sea.REUTERS/Ints Kalnins
16: Bangladesh
A Bangladesh Navy vessel in the Bay of Bengal in February 2017, with a fishing boat in the foreground.AP Photo/Joshua Paul
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15: Algeria
An Algerian submarine during a 2021 training exercise.Ministry of National Defence Naval Forces
14: North Korea
North Korean sailors at a military parade in Pyongyang in April 2017.AP Photo/Wong Maye-E
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13: Egypt
The Egyptian fast attack craft M. Fahmy in Istanbul, Turkey, in November 2020.REUTERS/Yoruk Isik
12: Taiwan
Candidates training to join the Taiwan navy's elite Amphibious Reconnaissance and Patrol unit in December 2021.REUTERS/Ann Wang
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11: Italy
The Italian navy ship San Giorgio comes to dock in Catania, Sicily, in February 2011.AP Photo/Carmelo Imbesi
10: Turkey
TCG Anadolu, Turkey's first amphibious assault ship, in Istanbul in April 2023.REUTERS/Murad Sezer
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9: UK
Britain's HMS Prince of Wales aircraft carrier at Portsmouth Naval Base on October 7, 2022.Finnbarr Webster/Getty Images
8: France
Frances's Charles de Gaulle aircraft carrier alongside US and Danish warships in the Red Sea on April 15, 2019.US Navy/MCS3 Skyler Okerman
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7: India
The submarine INS Vagir in Mumbai, India, in January 2023.REUTERS/Niharika Kulkarni
6: Japan
JS Kumano of the Japan Maritime Self-Defense Force in May 2023.REUTERS/Caroline Chia
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5: South Korea
South Korea's ROKS Shin Dol-seok submarine in July 2022.US Navy/MCS3 Aleksandr Freutel
4: Indonesia
Indonesian sailors and a military celebration in Jakarta in October 2010.REUTERS/Enny Nuraheni
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3: Russia
Vladimir Putin at Russian Navy Day in St. Petersburg, Russia, on July 30, 2023.Alexander Kazakov, Sputnik, Kremlin Pool Photo via AP
2: China
Chinese sailors at a fleet review to celebrate the 60th anniversary of its navy in April 2009.REUTERS/Guang Niu/Pool
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1: US
The USS Connecticut after surfacing through Arctic sea ice during an exercise in Alaska in March 2011.REUTERS/Lucas Jackson