The Navy's next generation electric ship's power system will support high energy loads and critical equipment. Energy storage modules will be needed to meet the demands of these loads as well as increase the overall high quality of service. This paper describes an approach to evaluate the impact of energy storage module location and sizing for ship survivability and quality of service. Specifically, a multi-objective optimization algorithm, the multi-objective particle swarm optimization — is used to obtain Pareto optimal solutions considering survivability, quality of service, and cost. Results based multi-objective particle swarm optimization study show that optimal ESM location and sizing improves ship power system's survivability and quality of service with a possible minimum cost.