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Global Submarine Market - Growth, Trends and Forecast (2018 - 2023)

Global Submarine Market - Growth, Trends and Forecast (2018 - 2023)

Many countries are modernizing their naval defense units by manufacturing submarines, surface-mine countermeasure, unmanned underwater vehicles, and other combat and tactical UUVs, which is expected to drive the global submarine market.

North America was observed to be a developed market for submarines, with the US dominating the market. The US Navy has focused more on anti-submarine warfare (ASW) with a combination of air, sea, and undersea forces. At present, the US Navy has a total of 52 attack submarines, even so, the Navy is struggling to meet the demands of the North Atlantic, and Pacific oceans, as the Russian and Chinese fleets, have increased their sea activities.

The Asia-Pacific (APAC) region is expected to command the global submarine market. With increase in defense budgets and spending, defense authorities of different nations of the region are primarily investing in submarines and other underwater warfare vehicles.

The SSN segment is projected to account for the largest market share, with 38.3%, in the submarine market, globally. Unlike the SSKs, these submarines do not have to surface periodically for air, which preserves their stealth attribute, while also being faster, more efficient, and having longer endurance capabilities. Such advantages are expected to drive the demand for SSNs, globally, during the forecast period. However, due to the nuclear Non-Proliferation Treaty (NPT) agreement between the different countries, many countries have refrained from possessing nuclear-powered vessels.

Growing Demand for Submarines in Developing Regions

The rapid modernization of China’s submarine fleet has also compelled the demand in countries, such as Japan, India, Australia, Vietnam, and Taiwan. The growth is significantly driven by major countries, such as Australia, China, South Korea, and India, due to the rising number of maritime conflicts in the South China Sea and Indian Ocean. As a result, these countries are expanding their naval capabilities or planning to expand their naval capabilities.

Submarines form the centerpiece of naval fleets, owing to their multi-operational capabilities and the ability to complement other strategic resources. The global submarine market dropped drastically toward the end of the Cold War in 1991. Since then, Brazil, Russia, India, China (BRIC nations) and other developing countries of Asia-Pacific have invested in the market with an effort to strengthen their naval capabilities. Major Players: BAE Marine Engineering, Systems AB, Daewoo Shipbuilding, and General Dynamics Electric Boat, among others.

Key Developments in the Market

March 2018: General Dynamics Corp’s subsidiary, Electric Boat, recently clinched a modification contract worth USD 696.2 million for supplying long lead-time materials for the construction of submarines for fiscal 2019 and fiscal 2020 Virginia-class submarines.

February 2018: Thales has won a R&D contract to explore sonar technology and a bow-mounted antenna for France’s next-generation nuclear-powered ballistic missile submarine.

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    1. Introduction
    1.1 Scope of Study
    1.2 Market Definition
    1.3 Executive Summary
    2. Research Methodology
    2.1 Study Deliverables
    2.2 Study Assumptions
    2.3 Research Phases
    3. Market Insights
    3.1 Current Market Scenario
    3.2 Technology Trends
    3.3 Industry Attractiveness - Porter's Five Forces Analysis
    3.3.1 Threat of New Entrants
    3.3.2 Threat of Substitute Products/Services
    3.3.3 Bargaining Power of Suppliers
    3.3.4 Bargaining Power of Buyers
    3.3.5 Intensity of Competitive Rivalry
    4. Market Dynamics
    4.1 Drivers
    4.1.1 Major Expenditures by the US in developing Electro-Optical Systems
    4.2 Restraints
    4.2.1 Expensive R&D for new technology
    4.3 Opportunities
    4.3.1 High growth in Asia-Pacific
    5. Global Military Electro Optical and Infrared Systems Market, by Type
    5.1 Image Intensification
    5.2 Infrared
    5.3 Laser
    6. Global Military Electro Optical and Infrared Systems Market, by System
    6.1 Imaging
    6.2 Non Imaging
    7. Global Military Electro Optical and Infrared Systems Market, by Platform
    7.1 Air-based
    7.2 Land-based
    7.3 Sea-based
    8. Global Military Electro Optical Market, by Geography
    8.1 North America
    8.1.1 US
    8.1.2 Canada
    8.1.3 Mexico
    8.1.4 Others
    8.2 Europe
    8.2.1 Germany
    8.2.2 UK
    8.2.3 France
    8.2.4 Italy
    8.2.5 Spain
    8.2.6 Russia
    8.2.7 Others
    8.3 Asia-Pacific
    8.3.1 China
    8.3.2 Japan
    8.3.3 India
    8.3.4 Australia
    8.3.5 South Korea
    8.3.6 Others
    8.4 Middle East & Africa
    8.4.1 UAE
    8.4.2 Saudi Arabia
    8.4.3 South Africa
    8.4.4 Others
    8.5 South America
    8.5.1 Brazil
    8.5.2 Argentina
    8.5.3 Others
    9. Competitive Landscape
    9.1 Introduction
    9.2 Market Share Analysis
    10. Company Profile
    10.1 Lockheed Martin
    10.2 Instro
    10.3 L3 Communication Holdings
    10.4 Northrop Grumman
    10.5 BAE Systems PLC
    10.6 DRS Technologies
    10.7 Rheinmetall
    10.8 United Technologies Corporation
    10.9 Raytheon
    10.10 Kollsman
    10.11 Rockwell Collins
    10.12 Elbit Systems
    11. Future of the Market

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