The movie has enough fans that there were hopes for a sequel once. Patrick O’Brian wrote several novels in the same series that could have been adapted, and while Master and Commander did well enough both critically and commercially, it was not a massive hit. It was also quite expensive, costing $150 million to make and making about $210 million, which wasn’t a big enough spread to trigger a sequel easily. And if one hasn’t happened yet, it seems quite unlikely now. Though, since the film was made by Fox, that would make it a Disney decision now