Animation using ships from Shiptember gallery (No. 15 and 22), planet texture from texture site. A bit of backstory on Youtube.
The cloaking effect is basically transition between glass shader and ship plating material with emission in-between controlled by gradient texture, driven by empty object whose position is animated. Not using full transparent shader as I want the cloaked ship to be somewhat still ‘visible’ due to refraction. Had to crank up the number of light bounces in transmission setting though since the ship has looots of intersecting geometry.