Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The "Undersea Warfare Systems Market" report has been added to ResearchAndMarkets.com's offering.
The global undersea warfare systems market size is expected to reach USD 23.62 billion by 2030, according to a new study. The report gives a detailed insight into the current market dynamics and provides analysis on future market growth.
Governments have focused on increasing the integration of under-sea weapons to defend the growing territorial in-stabilities, contributing significantly to market growth. Furthermore, manufacturers are introducing heavy-weight torpedoes capable of tracking & destroying underwater targets, thereby boosting growth. Counter and anti-access area denial are becoming an active part of essential navies' global naval strategies, and undersea warfare is expected to regain importance.
Operational stealth is increasingly vital as countries build maritime surveillance systems. For example, The Indian Navy commissioned its fourth stealth submarine, Scorpen, in November 2021 as part of its dedicated 'Project 75'. As a result, an increase in demand for modern stealth submarines is forecast to fuel global market.
Shortages of components and electronic systems have resulted from regulations governing the import and export of goods, resulting in delayed manufacturing. Material shortages caused by manufacturing shutdowns in China, South Korea, and Taiwan hampered the development of naval warfare even more. However, following the pandemic, there has been an increase in the sophistication of underwater warfare systems. With the relaxation of lockdown measures and vaccination campaigns and the resulting opening of markets worldwide, demand for undersea warfare systems is expected to rise significantly soon.
| Report Attribute | Details |
| No. of Pages | 118 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $16.22 billion |
| Forecasted Market Value (USD) by 2030 | $23.62 billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Undersea Warfare Systems Market Report Highlights
- Combat sub-segment by component is anticipated to grow at a high CAGR. The widespread use of advanced naval combat systems for detecting, tracking, and neutralizing modern threats.
- Remotely operations segment is expected to rise significantly. Underwater ROVs can be deployed quickly due to their compact design & simple technology. This is extremely useful in emergencies where time is of the essence and in areas that are too slender or difficult for divers to reach out
- North America is expected to experience significant growth over the forecast period. This is primarily due to rising security concerns and government & army organizations investing heavily in developing advanced undersea weapons.
- Key players include BAE Systems, General Dynamics, Boeing Company, Kongsberg Gruppen, Ultra Electronics, L3Harris Technologies, Lockheed Martin, DRS Technologies, ECA Group, S.A. de Electronica Submarina, Atlas Elektronik, Northrop Grumman Corporation, Saab AB, and Thales Group.
The publisher has segmented the undersea warfare systems market report based on application, mode of operation, end-use, and region:
Undersea Warfare Systems, Application Outlook (Revenue - USD Billion, 2018 - 2030)
- Combat
- C4ISR
- command
- control
- communications
- computers
- intelligence
- surveillance
- reconnaissance
- Others
Undersea Warfare Systems, Mode of Operation Outlook (Revenue - USD Billion, 2018 - 2030)
- Manned Operations
- Autonomous Operations
- Remotely Operations
Undersea Warfare Systems, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
- Naval
- Airborne
- Land-based
Undersea Warfare Systems, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Market Dynamics
Drivers and Opportunities
- Advanced Battery and Fuel Cell Technology
- Growing Number of Defense Expenditures
Restraints and Challenges
- High Cost
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Undersea Warfare Systems Market Insights
5. Global Undersea Warfare Systems Market, by Application
6. Global Undersea Warfare Systems Market, by Mode of Operation
7. Global Undersea Warfare Systems Market, by End-Use
8. Global Undersea Warfare Systems Market, by Geography
9. Competitive Landscape
10. Company Profiles
Companies Mentioned
- BAE Systems Plc
- General Dynamics Corporation
- Kongsberg Gruppen
- L3Harris Technologies Inc.
- Boeing Company
- Leonardo S.p.A.
- Lockheed Martin Corporation
- DRS Technologies Inc.
- ECA Group
- General Dynamics Corporation
- Kongsberg Gruppen
- Lockheed Martin Corporation
- Ultra Electronics Corporation
- S.A. de Electronica Submarina (SAES)
- Atlas Elektronik GmbH
- Harris Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Saab AB
- Thales Group and others.
For more information about this report visit https://www.researchandmarkets.com/r/xb1f88-warfare?w=12
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