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    Underwater Expendables Market Report

    Underwater Expendables Market Report
    Report code - SRAD309 Published On : Jun,2020 No. of Pages: 225
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    Underwater Expendables Market Size, Share, Trend, Forecast, & Competitive Analysis: 20 See more...

    Impact of COVID-19 on Underwater Expendables Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Underwater Expendables Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    Underwater expendables are among the key technologies used in the maritime defense. The expendable sonar and countermeasure systems used for conducting anti-submarine warfare, underwater acoustic research, and torpedo defense countermeasures can be termed as underwater expendables. Underwater expendables mainly include sonobuoy and acoustic countermeasures deployed from maritime aircraft, helicopters, surface ships, and submarines. The primary sonobuoy for the anti-submarine warfare was invented during the World War-II for the detection and localization of submarines. With the increasing SSBN and SSN submarine fleet, every country is gradually increasing its anti-submarine capabilities including sonobuoys and acoustic countermeasures.

    The Great Recession (2008-2009) had an overall marginal impact on defense spending. Military spending of the major military expenditure countries, such as the USA, China, Russia, and India, is a long-term strategic preference. The outbreak of COVID-19 crippled the supply chain of the entire defense industry, making it difficult for manufacturers to continue production which resulted in the delays of major programs. However, the industry is trying hard to get up in their feet with an aim to fulfill all the previously made commitments. It is anticipated that the outbreak of COVID-19 will have a marginal impact on defense spending, particularly when the tension between many economies is at its peak.

    The market for underwater expendables is anticipated to follow the defense industry with minimal decline in the year 2020, taking the market close to the 2018-level, followed by a gradual recovery from 2021 onwards, ultimately driving the market with healthy long-term growth across regions. The increasing demand for underwater expendables is supported by various factors including rapidly growing submarine fleet, increasing focus towards underwater warfare systems, increasing focus towards enhancing anti-submarine warfare capabilities, rising Chinese navy movements in the South China Sea, the introduction of new UAV platforms, and increasing innovations in acoustic countermeasures, asserting a positive comeback in the demand from 2021 onwards with an expected market to ring the US$ 0.5 billion-figure bell by 2025.

    Segments' Analysis

    Underwater-Expendables-Market-Dominant-Segments

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    Underwater Expendables Market Share by Product Type

    The underwater expendables market is segmented based on the product type as sonobuoy and acoustic countermeasures. Sonobuoy is further sub-segmented into active, passive, and special-purpose system. Sonobuoy is expected to remain the larger segment of the market during the forecast period. It is also anticipated that the segment will recover quickly post a minor decline in 2020, maintaining its tag of the faster-growing segment. Strong demand from the U.S. Navy and innovations in sonobuoys targeting future UAVs are likely to create a healthy demand for sonobuoys.

    Underwater Expendables Market Share by Platform Type                 

    Based on the platform type, the market is segmented as defense and commercial. Defense is expected to remain the dominant platform type in the market during the forecast period, propelled by increasing anti-submarine warfare missions and increasing focus of major powers towards advanced underwater warfare systems.

    Regional Insights

    In terms of region, North America is estimated to register marginal losses due to the pandemic. The USA is projected to remain the growth engine for underwater expendables in years to come. The USA has the world’s largest navy budget and the country keeps upgrading its existing capabilities in order to maintain its supremacy in the market. Every year the U.S. Navy generates a strong demand for at least 204,000 sonobuoys to conduct anti-submarine warfare missions. In order to cater to this huge demand, all the major players have a strong foothold in the region.

    Underwater-Expendables-Market-By-Region

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    Asia-Pacific is estimated to maintain its growth momentum in the long run with few bumps in 2020. Increase in Chinese submarine fleet and Chinese Navy movements in the South China Sea has led neighboring countries to increase their anti-submarine warfare capability. China, India, South Korea, and Japan are key countries in the region that are generating a considerable market demand.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2014-2025

    Size in 2025

    US$ 0.5 billion

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries Covered

    The US, Canada, Mexico, Germany, France, the UK, Russia, Japan, China, India, Middle East, Latin America and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

                                                                              

    The underwater expendables market is segmented into the following categories: 

    Underwater Expendables Market Size, Share & Forecast, by Product Type

    • Sonobuoy
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Function Type: Active, Passive, and Special Purpose)
    • Acoustic Countermeasures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Underwater Expendables Market Size, Share & Forecast, by Platform Type

    • Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Underwater Expendables Market Size, Share & Forecast, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)