Dublin, June 08, 2021 (GLOBE NEWSWIRE) -- The "Submarines Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global submarines market as it emerges from the COVID-19 shut down.
The global submarines (including nuclear submarines) market is expected to grow from $23.35 billion in 2020 to $23.61 billion in 2021 at a compound annual growth rate (CAGR) of 1.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $29.44 billion in 2025 at a CAGR of 5.7%.
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Where is the largest and fastest growing market for the submarines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Submarines market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider submarines market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The submarines market section of the report gives context. It compares the submarines market with other segments of the submarines market by size and growth, historic and forecast.
Major players in the submarines market are General Dynamics; Huntington Ingalls Industries; Mazagon Dock Shipbuilders Limited; ThyssenKrupp Marine Systems (TKMS); Kawasaki Heavy Industries Ltd.; Daewoo Shipbuilding & Marine Engineering Co. Ltd.; FINCANTIERI S.p.A; Lockheed Martin Corporation; BAE Systems; and Saab AB.
The submarines market consists of sales of submarines by entities (organizations, sole traders, and partnerships) that manufacture submarines. The nuclear submarines are also included in the market.
The integration of 3D printing or additive manufacturing in the submarines is a key trend gaining popularity in the submarines market. Major companies operating in the submarines sector are using 3D printing to build optimized submersible components and to improve performance by reducing essential properties such as weight. For instance, in February 2020, ThyssenKrupp Marine Systems, a Germany based company that provides naval vessels, surface ships, and submarines has announced the plans to expand the use of 3D printing for the production of submarine components. Thyssenkrupp Marine Systems has announced that the hydraulic block has been revamped by additive manufacturing for a submarine that has traditionally weighed 14 kg and now weighs only 2.1 kg.
The submarines (including nuclear submarines) market is segmented by type into nuclear powered submarine; diesel electric submarine; ballistic missile submarine, by platform into commercial; military and by application into surveillance; combat; marine environmental monitoring; others.
In March 2020, Huntington Ingalls Industries, an America based military shipbuilding company acquired Hydroid Inc., for an undisclosed amount. The acquisition is expected to enhance Huntington Ingalls Industries capabilities in technical solutions unmanned underwater vehicle (UUV) business, autonomous underwater vehicles (AUV) or marine robots. Hydroid Inc., an America based company that manufactures underwater vehicles (UUVs).
The rising investment for submarines is expected to propel the growth of the submarines market in the coming years. A submarine is a type of vessel that can move both above and below sea level. Governments across the world are investing in submarines to improve local shipyard capacities and fill holes in the Navy's underwater war force. For instance, the Indian government released a specific expression of interest in June 2019 for an Indian shipyard to develop the submarines at a budget of $6.6 billion. According to the services new annual report to Congress, the U.S. Navy aims to increase investment on its next generation nuclear missile submarine project by $2 billion in the fiscal year 2021 and continue to drive towards $5 billion in 2024. Therefore, the rising investment for submarines drives the growth of the submarines market.
The high cost of submarines is expected to hamper the growth of the submarines market over the forecast period. A submarine is a type of vessel that can move both above and below sea level. The cost of the submarines depends on the size, design, and capabilities of the vessel. In 2019, the Congressional Budget Office (CBO) reports that the total cost per submarine for the Submersible Ship Nuclear (SSN) (a nuclear-powered general-purpose attack submarine) would be $5.5 billion, while the Navy predicts that the budget per submarine would be $3.4 billion. Therefore, the high cost of submarines restraints the growth of the submarines market.
Key Topics Covered:
1. Executive Summary
2. Submarines Market Characteristics
3. Submarines Market Trends and Strategies
4. Impact of COVID-19 on Submarines
5. Submarines Market Size and Growth
5.1. Global Submarines Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Submarines Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Submarines Market Segmentation
7. Submarines Market Regional and Country Analysis
7.1. Global Submarines Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Submarines Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Submarines Market
9. China Submarines Market
10. India Submarines Market
11. Japan Submarines Market
12. Australia Submarines Market
13. Indonesia Submarines Market
14. South Korea Submarines Market
15. Western Europe Submarines Market
16. UK Submarines Market
17. Germany Submarines Market
18. France Submarines Market
19. Eastern Europe Submarines Market
20. Russia Submarines Market
21. North America Submarines Market
22. USA Submarines Market
23. South America Submarines Market
24. Brazil Submarines Market
25. Middle East Submarines Market
26. Africa Submarines Market
27. Submarines Market Competitive Landscape and Company Profiles
27.1. Submarines Market Competitive Landscape
27.2. Submarines Market Company Profiles
27.2.1. General Dynamics
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Huntington Ingalls Industries
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Mazagon Dock Shipbuilders Limited
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. ThyssenKrupp Marine Systems (TKMS)
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Kawasaki Heavy Industries Ltd.
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers and Acquisitions in the Submarines Market
29. Submarines Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/9l7qxj