The fleetīs ranking system is basically based on the combat experience measured by Win/Loss-ratio.
Promotions are also awarded if a player reaches certain numbers of battles conducted and/or battles won.

Player Ranking Overview

Rank Insignia Description Win/Loss Ratio Remarks
Fleet Admiral >= 3.500
Admiral 3.499 - 3.000
Vice Admiral 2.999 - 2.600
Rear Admiral 2.599 - 2.300
Commodore 2.299 - 2.000
Captain 1.999 - 1.700
Commander 1.699 - 1.450
Lieutnant Commander 1.449 - 1.300
Lieutnant 1.299 - 1.200
Lieutnant Junior Grade 1.199 - 1.100
Ensign 1.099 - 1.000
Master Chief Petty Officer of the Fleet honorary title
Master Chief Petty Officer .999 - .900
Senior Chief Petty Officer .899 - .800
Chief Petty Officer .799 - .650
Midshipman honorary title
Petty Officer First Class .649 - .550
Petty Officer Second Class .549 -.450
Petty Officer Third Class .449 - .400
Specialist honorary title
Crewman .399 - .300
Crewman Apprentice .299 - .200
Crewman Recruit < .200
50 total battles needed to get into the military ranking system. At least 80 Battles have to be conducted before an empire can be promoted to an officers rank. At least 200 Battles have to be conducted before a empire can be promoted to a admirals rank. Disratings will happen if for each 0.100 points lost in win/loss ratio.

Decorations

Player are awarded decorations for certain military achievements. As combat experence is combat experience, no matter of a battle is won or lost, there are two different categories of awards :

Battle Medals
Total Battles
conducted		 Award (abbr.) Remark
75 Militia Medal (mm) combined with a promotion to the rank of Crewman Apprentice
150 Fleet Service Medal (fm)
250 Navy Star of Duty (ns) honorary promotion to the rank of Crewman
333 honorary promotion to the rank of Specialist
500 Distinguished Service Medal (dm)
750 honorary promotion to the rank of Midshipman
1000 Nayvīs Great Cross of Duty (gc)
1500 Honorable Service Medal of the Fleet (hs) honorary promotion to the rank of Master Chief Petty Officer of the Fleet
2000 Federationīs Knight Insignia (ki) Officers patent is awarded, promotion to the rank of Lieutnant Junior Grade
2500 promotion to the rank of Lieutnant Commander
3000 promotion to the rank of Captain
... to be continued and improved ! ;-)

Victory Medals
Total Battles won Award Remarks
50 Starfigher Ribbon (sr)
100 Medal of Bravery (mb) honorary promotion to the rank of Petty Officer 1st Class
200 Honor Medal of the Fleet (hf)
333 The Navy Cross (nc) Officers patent is awarded, promotion to the rank of Lieutnant Junior Grade
500 Starwarrior Insignia (sw)
750 Distinguished Bravery Medal of the Fleet (db) promotion to the rank of Lieutnant Commander
1000 Federationīs Knight Insignia (ki)
1500 Federationīs Paladin Insignia (pi) promotion to the rank of Captain
2222 The Admirality Wings (aw) promotion to the rank of Commodore
3000 Star of the Federation (sf) promotion to the rank of Admiral
... to be continued and improved.

In addition to that, medals are also awarded for campaigns - i.e. a number of consecutive fought and won battles.
Campaign Medals
... can be awarded repeatedly...
Award for what ?
Federations Badge (fb) special achievements
consecutive wins
Bronze Star (bs) 4 consecutive wins(*)
Silver Star (sr) 8 consecutive wins
Golden Star (gs) 12 consecutive wins
Platinum Star (ps) 18 consecutive wins
Award for what ?
participation in FedWars
Silver Cross of the Navy (sc) 3 wins (against empires of hostile Federations)
Golden Cross of the Navy (gc) +5 wins (see above. is awarded for the 8th combat won in a FedWar
Platinum Cross of the Navy (gc) +10 wins (e.g. 18 wins total)
Warhammer Medal (wm) +15 wins (33)
Solar Insignia (si) + 17 wins (50)