April 07, 2020
As per the report titled ‘Submarine Combat System Market Size By Submarine, By Weapon, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global submarine combat system market is projected to grow momentously over 2019-2015.
Increasing demand to integrate advanced technologies and weaponry to existing naval defenses will augment the growth of submarine combat system market. Rising political tensions between the nations and military concerns across the globe are prompting the defense sector to strengthen their maritime warfare power. This factor coupled with increasing adoption of high-speed submarines is stimulating the market growth.
Inflowing government investments, surging deployment of advanced submarines with longer range and multi-mission capabilities, and integration of AI and automation technologies are other rationales supporting the market growth. Increasing R&D for advanced and cost-effective defense technologies will present new opportunities for growth in the coming years. On the contrary, high cost associated with upgrading existing submarines along with escalating maintenance costs may hamper the market growth during the forecast period.
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Based on the submarine type, SSK segment is slated to grow considerably during the analysis period, owing to upgradation and modernization activities by military organizations across the globe. SSK extend several benefits including compact size, lower noise and are integrated with navigational and operational management sensors. Advancement of electric and diesel powertrain in these submarines coupled with lower manufacturing cost as compared to its counterparts will further boost the segment growth.
Elaborating on the weapon spectrum, torpedoes segment is presumed to witness a substantial growth during the analysis period, on account of long range and varied capabilities of these weapons to be deployed in both, above and below sea levels. Innovations such as precise depth and direction control will enhance the performance and operation during missions, hence stimulating the demand for torpedoes. Advancement of propulsion technologies with support for longer range and high-power output will foster the segment growth in the years to come.
Considering the geographical outlook, submarine combat system market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe submarine combat system market is expected to amass significant returns by the end of 2025, primarily due to the presence of numerous combat system manufacturers in the region.
Major players of submarine combat system market include Thales Group, Atlas Elektronik, Saab, Raytheon, Lockheed Martin, BAE Systems PLC, Northrop Grumman, and Naval Group. These companies are focused on establishing long term contract with the government by offering new stealth technologies and customized solutions.
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