About Submarine
The emerging economies are focusing on developing the most sophisticated and high-end military operations platform in order to sustain the increasing conflicts and gain military supremacy, which in turn is propelling the development of the global submarine market. The increasing adoption of unmanned underwater vehicles (UUVs) will help to boost the global submarine market in the forecasted period. the UUVs have various applications including naval intelligence, surveillance, mine countermeasures operations, and reconnaissance, and anti-submarine warfare missions. UUVs are primarily designed for underwater surveillance, hull inspection, dock inspections, and underwater mines deactivation. Additionally, these UUVs are fitted with high-definition cameras that send visual data from the UUV to the operator.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 4.5% |
Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Submarine market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BAE Systems AB (United Kingdom), Lockheed Martin (United States), Daewoo Shipbuilding & Marine Engineering Co. Ltd (South Korea), General Dynamics Electric Boat (United States), Huntington Ingalls Industries (United States), Fincantieri – Cantieri Navali Italiani S.p.A. (Italy), Kawasaki Heavy Industries Ltd. (Japan), Mitsubishi Heavy Industries Ltd. (Japan), Saab Group (Sweden) and Thales Group (France) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Submarine market by Type (Nuclear-Powered Attack (SSN), Nuclear-Powered Ballistic Missile (SSBN) and Kilo-Class (SSK)), Application (Surveillance and Reconnaissance, Intelligence Gathering, Patrolling and Others) and Region.
On the basis of geography, the market of Submarine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2024. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Platform, the sub-segment i.e. Commercial will boost the Submarine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Usage in Unmanned Vehicles for the Electronic attack as well as Communication Transfer and The Growing Arms Race among The Countries of The World
Market Growth Drivers:
High Military Spending and Increasing Focus the Virginia-class Submarine Program
Challenges:
High skilled Professionals Require to Operate Submarines System
Restraints:
High Cost Associated with the Refitting and Maintenance of Submarines
Opportunities:
Increasing Inclination towards Modernizing their Naval Bases and Growing Investment in Advanced Technologies by the Military and defense sector
Market Leaders and their expansionary development strategies
In 2022, The Israeli Ministry of Defense has signed a contract with ThyssenKrupp Marine Systems to purchase three Darker-class diesel submarines for the Israeli Navy, worth EURO 3 billion (USD 3.4 billion). The new submarines are expected to replace three older Dolphin-class submarines, the first with delivery scheduled for 2031. and On 10th April 2019, Capgemini has announced a five-year contract with BAE Systems Maritime Submarines, the branch of the British defense, security, and aerospace company responsible for the design and manufacture of submarines. Under the terms of the deal, Capgemini in the UK will take over the provision of a broad spectrum of IT services, including service orchestration, networking, hosting, end-user computing, DevOps, reporting and analytics, automation, and a digital service desk.
In 2022, PT PAL Indonesia has signed a Memorandum of Understanding (MOU) with the Naval Group to collaborate on the research and development of submarines that will strengthen Indonesia's maritime defenses., In 2022, The US Navy received its 20th Virginia-class submarine USS Oregon (SSN 793) from the General Dynamics Electric Boat. The submarine is the second Block IV component submarine delivered to the Navy. and On 11th March 2019, Hyundai Heavy Industries (HHI) Group and Korea Development Bank (KDB) have signed a definitive agreement for the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME).
Key Target Audience
Submarine Providers, Submarine Suppliers, Government Regulatory Bodies, Private Research Organizations, Government Reaserch Orgnizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.