WiseGuyReports.com adds “Submarine Global Market 2016 to 2020” to its research database.
This global market research report provides a comprehensive analysis of the submarine market segmentation by type (SSN, SSBN, and SSK) and by geography (the Americas, APAC, and EMEA). The prominent vendors analyzed in this report are BAE Systems, Daewoo Shipbuilding & Marine Engineering, General Dynamics Electric Boat, Huntington Ingalls Industries, and Kawasaki Heavy Industries.
Overview of the global submarine market
Technavio’s market research analyst predicts the global submarine market to grow at a moderate CAGR of more than 4% during the forecast period. The growing demand for unmanned underwater vehicles (UUVs) has been a key growth driver for this market. UUVs have extensive applications in naval intelligence, mine countermeasures operations, surveillance and reconnaissance, and anti-submarine warfare missions. In maritime operations, UUVs are primarily designed for underwater surveillance, hull inspection, dock inspections, and underwater mines deactivation. Also, these UUVs are fitted with high-definition cameras that send visual data from the UUV to the operator. With better images and improved control of the vehicle, a better inspection of the underwater environment is possible which aids in naval operations. Recently, there has been an increased usage of these unmanned vehicles for electronic attack, communication transfer, combat, search, and rescue missions, and C4ISR operations. Thus, the increasing activities related to seabed mapping and mining will propel the market for submarines during the forecast period.
In this market research report, analysts have estimated factors like the rapid advancement of undersea warfare will impel the prospects for market growth until the end of 2020. Stealth submarines and unmanned vehicles are the most viable means for gathering information and most countries significantly rely on them for their defense strategies. With more investments and R&D, the submarines have changed the face of naval warfare. For instance, Russia is developing Kanyon, a nuclear submarine drone with the capacity to launch nuclear weapons. Similarly, the Indian Navy has planned to deploy Kalvari, a stealth submarine which was built with the support of a French company called DCNS. The rising demand for submarines and UUVs in defense and naval operations is expected to bolster this market’s growth.
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Segmentation by type and analysis of the submarine market
- Nuclear-powered attack submarine (SSN)
- Nuclear-powered ballistic missile submarine (SSBN)
- Kilo-class submarine (SSK)
In 2015, the SSN segment dominated the global submarine market with a market share of more than 40%. Since SSNs have several advantages such as longer endurance, higher speeds, and better efficiency over traditionally powered SSKs, they are extensively used by the US Navy and other NATO countries.
Geographical segmentation and analysis of the submarine market
During 2015, the Americas dominated the market, accounting for more than 40% of the market share. Factors like high military spending and increasing focus the Virginia-class submarine program will contribute to strong demand for submarines in the region.
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Competitive landscape and key vendors
The global submarine market is highly competitive, and vendors compete based on the cost of production, quality, reliability, and aftermarket service. It is crucial for vendors to provide cost-effective and high-quality submarines equipped with the latest technology and materials to survive in an intensely competitive market. Vendors are adopting strategies such as mergers and acquisitions, along with increased collaboration with alliance partners around the world for technical expertise and resources to develop innovative products.
The leading vendors in the market are -
- BAE Systems
- Daewoo Shipbuilding & Marine Engineering
- General Dynamics Electric Boat
- Huntington Ingalls Industries
- Kawasaki Heavy Industries
Other prominent vendors identified in the market are Fincantieri, Lockheed Martin, Mitsubishi Heavy Industries, Saab, and Thales.
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