NEW
YORK, May 16, 2024 /PRNewswire/ -- The
global submarine market size is estimated to
grow by USD 8990.05 mn from
2023-2027, according to Technavio. The market is estimated to grow
at a CAGR of over 5.45% during the forecast
period.
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historic data (2017 - 2021) - Download
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (SSN, SSBN, and
SSK), Application (Military and Commercial), and Geography (North
America, APAC, Europe, Middle East and Africa, and South
America)
|
Region
Covered
|
North America, APAC,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Anschutz, ASC Pty Ltd.,
BAE Systems Plc, Daewoo Shipbuilding and Marine Engineering Co.
Ltd., Fincantieri Spa, General Dynamics Corp., Hyundai Heavy
Industries Co. Ltd., Kawasaki Heavy Industries Ltd., Lockheed
Martin Corp., Mazagon Dock Shipbuilders Ltd., Mitsubishi Heavy
Industries Ltd., NauticExpo, Naval Group, Navantia SA, Saab AB,
Submarine Manufacturing and Products Ltd., The Boeing Co.,
thyssenkrupp AG, Triton Submarines LLC, and United Shipbuilding
Corp.
|
Key Market Trends Fueling Growth
The submarine market is witnessing significant technological
advancements, driven by the naval military segment and the defense
industry. Nuclear Powered Submarines (NPS), such as the
Virginia-class (SSN-774 class), offer enhanced capabilities for
improved littoral warfare, surveillance, and open ocean operations.
These submarines feature superior imaging capabilities, high data
rate communication, and the flexibility for future
mission-configurable masts. Additionally, the market includes
Diesel Electric Submarines (DES) and Ballistic Missile Submarines
(SSBN), all contributing to combat, military, and covert
operations. The defense forces are also exploring the use of raw
materials like high-strength alloy steel and titanium in submarine
production. Geopolitical conflicts and maritime disputes
necessitate the strengthening of submarine capabilities, including
Midget submarines (SSM), and the development of offshore resources.
Underwater detection, surveillance activities, and missile attacks
are key areas of focus, ensuring strategic stabilities and naval
intelligence.
Market Challenges
- Submarines are intricate platforms in the defense sector,
requiring advanced technology and design for manufacturing.
Emerging countries engaging in submarine production projects often
rely on developed nations for technological collaboration. However,
these partnerships come with limitations, as exporting countries
typically provide second-best designs and technologies. Dependent
nations must seek ongoing technical support and services from the
selling nation throughout the submarine's service life. Key aspects
of submarine manufacturing include the use of high-strength alloy
steel, titanium, and nuclear propulsion. Other essential features
are underwater detection, missile attacks, and complex parts like
missile fins and guidance systems. Cost-effectiveness, crewless
submarines, and deep-sea cables are also significant factors in the
submarine market. Geopolitical conflicts, enemy territories, and
strategic stabilities influence naval intelligence and surveillance
activities. Nuclear-powered and conventional submarines,
refuelings, voyage times, and military budgets are crucial elements
of submarine acquisition programs.
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impact of trend, driver and challenges - Buy
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Segment Overview
This submarine market report extensively covers market
segmentation by
- Type
- Application
- 2.1 Military
- 2.2 Commercial
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 SSN- The submarine market can be segmented
based on power sources into Nuclear Powered Submarines (NPS) and
Diesel Electric Submarines (SSK). NPS, such as Attack Submarines,
harness the power of nuclear technology for longer voyage times and
high-speed capabilities, minimizing the need for refuelings. In
contrast, SSKs require frequent refuelings and have shorter voyage
times. The naval military segment dominates the submarine market
due to the demand for advanced military systems, including SSNs,
which offer enhanced capabilities like covert operations, surprise
attacks, and deterrent capabilities. Nuclear technology plays a
significant role in the submarine market, with seafaring nations
investing heavily in nuclear-powered submarine fleets to strengthen
their defense capabilities. The defense industry is at the
forefront of technological advancements, with innovations like
additive manufacturing techniques revolutionizing submarine design
and production. The commercial segment also contributes to the
submarine market, with applications in cargo transports and
offshore resource exploration. The naval forces of various
countries are modernizing their submarine capabilities, with
maritime disputes and offshore territories driving the need for
advanced submarine technologies. Midget submarines (SSM) are
another segment of the submarine market, offering smaller, more
agile vessels for specific military applications. The nuclear
triad, consisting of nuclear-powered ballistic missile submarines,
strategic bombers, and land-based intercontinental ballistic
missiles, further highlights the importance of nuclear technology
in the submarine market. The submarine market is influenced by
military budgets, maritime boundaries, naval forces, and
geopolitical factors. Covert operations and surprise attacks are
essential capabilities for modern submarines, making them
indispensable assets for military forces worldwide.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Research Analysis
The submarine market encompasses the production and supply of
raw materials for high-strength alloy steel, a crucial component in
submarine construction. This sector caters to the defense forces'
demands for advanced submarines, including those equipped with
titanium hulls for enhanced durability and underwater capabilities.
New submarine acquisitions are a significant focus, driven by the
need for technological advancements in areas such as underwater
detection, missile attacks, and covert operations. The naval
military segment also prioritizes surprise attacks and deterrent
capabilities, necessitating the expansion of submarine fleets.
Maritime disputes and offshore territories with valuable resources
further fuel the demand for naval forces and submarines. The
defense sector continues to invest in military systems to secure
offshore resources and maintain a Nuclear triad, with seafaring
nations continually upgrading their submarine fleets to maintain
maritime boundaries and ensure strategic advantages.
Market Research Overview
The submarine market encompasses the design, production, and
maintenance of submarines for military and civilian applications.
These underwater vessels are essential for exploration,
surveillance, and defense purposes. Submarines are engineered to
operate in various depths and environments, making them versatile
and indispensable. The market is driven by technological
advancements, increasing demand for underwater resources, and
geopolitical tensions. Submarines are classified based on their
propulsion systems, such as conventional and nuclear-powered. The
market also includes the production of submarine components,
including hulls, engines, and sensors. The industry is
characterized by a high level of competition and innovation, with
continuous efforts to improve submarine capabilities and reduce
costs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Application
-
- Geography
-
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio