Submarine Combat Systems Market Report
Submarine Combat Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028 See less
Submarine Combat Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2028
Submarine Combat Systems Market is segmented by Submarine Type (SSK, SSN, SSBN and SSGN), by System (Sensors, Electronic Support Measures and Armaments), by Combat Weapon (Electronic Warfare, Torpedoes, Ballistic Missiles, Cruise Missiles and Mines) and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
The Submarine Combat Systems market was estimated at US$ 7.5 billion in 2021 and is expected to grow at a CAGR of 14.5% during 2022-2028 to reach US$ 20 billion by 2028. The submarine combat system market is employed to detect, track, and destroy enemy submarines. Countries and governments require these systems for maintaining the naval security on their maritime borders. The COVID-19 outbreak has led to multiple challenges for the defence industry both from the supply- and demand-side. However, the manufacturing activities have now slowly gained pace and are expected to be ramped up in the coming years.
Rising terrorism occurrences along with growing sea-based skirmishes between countries is one of the key factors driving the growth of the Submarine Combat Systems market. Further, utilization of Submarine Combat Systems in protecting the maritime trade routes and exposing illegal cross-border activities such as smuggling is positively impacting the market growth. Additionally, government initiatives and investments for strengthening the defence sector are boosting the market growth. Moreover, growing adoption of advanced maritime combat systems considerably enhances the maritime mission capabilities and weapon control configurations, thus, boosting the market growth. However, factors such as short life span of these systems and high price is a major hinderance for market growth.
Retrofitting of submarines is another potential revenue generating pocket for submarine combat system manufacturers. New submarine procurement is capital-intensive and often have lengthy induction period. Mid-life combat system upgrades and retrofits are both time-effective and cost-effective way to utilize submarines for their full life cycle. The North America and Europe regions are profitable retrofit markets for submarine combat systems.
Market size assessment for various segments of the submarine combat systems market were derived through extensive secondary research from company websites, government sources, defence websites, corporate filings such as investor presentations, Bloomberg, Factiva, annual reports, International Maritime Organization (IMO) & financial statements, and trade, business, and professional associations. Verification of data with primary research and further market triangulation with the help of statistical techniques were carried out. All market shares, percentage splits, and breakdowns were finalized using these secondary research data and finally verified through primary research. We have taken all macro- and micro economic factors and parameters into consideration while estimating the market size, verified through primaries, and scrutinized to obtain the final results.
The market is split into SSK, SSN, SSBN and SSGN types. SSK submarines hold the largest share in the market. The other submarine types are limited to only a few countries that have the technologies to design them. The U.S., China, the U.K., Russia and France are operators of SSBN and SSBN submarines.
The torpedoes segment held a considerable share of the market in 2021 and is expected to maintain its dominance by 2028 owing to its capability of being deployable in both above and below water levels. Further, various governments are constantly on look-out for torpedoes that provide better approach-and-attack options that enhances the probability of destroying the enemy submarines.
The submarine combat systems market Is segmented into sensors, electronic support measures, and armaments. The armament segment is projected to grow at the fastest rate. The rising submarine orders coupled with retrofitting and replacement of obsolete armaments are projected to drive the segment growth.
There is stiff competition in the Submarine Combat Systems market. The growth of the companies is directly dependent on the industry conditions and government support. These companies differentiate their offerings on the basis of their quality and their penetration in the target and emerging markets. Also, there have been some major developments in the industry landscape in recent years, which significantly influenced the competitive dynamics. For example:
The following are the major players in the Submarine Combat Systems market:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The Submarine Combat Systems market was estimated at US$ 7.5 billion in 2021 and is expected to grow at a CAGR of 14.5% during 2022-2028 to reach US$ 20 billion by 2028.
The major players in the Submarine Combat Systems market are Atlas Elektronik GmbH, BAE Systems PLC, General Dynamics Corporation, HAVELSAN A., Kongsberg Gruppen, Leonardo S.p.A., Lockheed Martin Corporation, Naval Group, Raytheon Technologies Corporation, Saab AB, DCNS SA, Thyssenkrupp Marine Systems, Safran, Thales Group.
Rising terrorism occurrences along with growing sea-based skirmishes between countries is one of the key factors driving the growth of the Submarine Combat Systems market. Further, utilization of Submarine Combat Systems in protecting the maritime trade routes and exposing illegal cross-border activities such as smuggling is positively impacting the market growth. Additionally, government initiatives and investments for strengthening the defence sector are boosting the market growth.
Region-wise, North America was the largest Submarine Combat Systems market in 2021 and is forecast to grow at a decent pace during the forecast period.
Based on submarine type, the market is split into SSK, SSN, SSBN and SSGN types. SSK submarines hold the largest share in the market.
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