Global Submarine market is valued at 21.4 Billion US$ in 2018 is expected to reach 30.5 Billion US$ by the end of 2025, growing at a CAGR of 4.5% during 2019-2025 | Industry Leaders Covered | BAE Systems, Daewoo Shipbuilding & Marine Engineering, General Dynamics Electric Boat, Huntington Ingalls Industries, Kawasaki Heavy Industries, Lockheed Martin, Mitsubishi Heavy Industries, Saab|
A submarine is an underwater naval platform that can stay submerged for extended periods and is deployed for multiple defense functions. It is considered crucial for a nations maritime security and is used for both offensive and defensive purposes. Submarines are designed for greater agility and stealth capabilities. These vessels are armed with powerful weapons such as missiles and torpedoes.
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.
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.
The global Submarine market is valued at 21400 million US$ in 2018 is expected to reach 30500 million US$ by the end of 2025, growing at a CAGR of 4.5% during 2019-2025.
This report focuses on Submarine volume and value at global level, regional level and company level. From a global perspective, this report represents overall Submarine market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The report includes an in-depth analysis of the competitive landscape of this business vertical, constituting manufacturers like:
Daewoo Shipbuilding & Marine Engineering
General Dynamics Electric Boat
Huntington Ingalls Industries
Kawasaki Heavy Industries
Mitsubishi Heavy Industries
Market Segment by Regions includes:
Products Segmentation, this report displays the production, revenue, price, market share, and growth rate of each type as below:
Nuclear-Powered Attack Submarine (SSN)
Nuclear-Powered Ballistic Missile Submarine (SSBN)
Kilo-Class Submarine (SSK)
By Industrial Application, the market can be split into:
Surveillance and Reconnaissance
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