LONDON, April 11, 2017 /PRNewswire/ -- Summary
Global military submarine and related MRO market, valued at US$22.8 Billion in 2016, is projected grow at a CAGR of 4.74%, to value US$36.3 Billion by 2026. The cumulative market for global expenditure on military submarines will reach US$323.7 Billion over the forecast period.
The military submarines market is split into three segments: SSBN-Ballistic Missile Submarine, SSN-Nuclear Attack Submarine, and SSK-Diesel Electric Submarine. During the forecast period, SSN are expected to account for the largest share of spending, accounting for 38.3% of the overall global market. The major factor driving expenditure on the SSN segment is the increased ability of nuclear powered attack submarines to be at sea for longer missions without refueling, when compared to SSK submarines.
Military submarine and related MRO market is expected to be led by North America with a share of 37% over the forecast period, closely followed by Asia Pacific with 32%, and Europe with 24%. The Latin American market for military submarines is expected to account for 4%, followed by the Middle East and African markets with a collective share of 3%.
The next generations of submarines are being equipped with advanced capabilities such as AIP, sonar sensor technology, supercavitation technology, electro-optical sensors, and lasers. In order to remain concealed, the sound, heat, sonar reflections, and magnetic anomalies produced by submarines need to be minimized. In addition to this, submarines have an advanced communication system that is capable of integrating various inputs and providing real time information. To attain these capabilities, armed forces from all parts of the world are either modernizing their existing fleets or procuring new systems from global manufacturers.
The report "The Global Submarine and MRO Market2016-2026" offers detailed analysis of the global Submarine market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for Submarine.
In particular, it provides an in-depth analysis of the following:
- Overview: Snapshot of the Submarine market during 2016–2026, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the Submarine market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the Submarine market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the Submarine market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the Submarine segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of competitive landscape of the global Submarine industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: BAE Systems Plc., DCNS, Navantia S.A., FincantieriSpA, Saab Kockums, Mazagon Dock, Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME), PO Sevmash, ThyssenKrupp Marine Systems (TKMS), Huntington Ingalls Industries (HII), Admiralty Shipyard, General Dynamics Electric Boat Corp, ASC Pty Ltd.
- The global submarine market is worth US$22.8 billion in 2016, and is expected to increase to US$36.3 billion by 2026, ata CAGR of 4.74% during the forecast period
- The market is expected to be dominated by North America, occupying 37% of market share, followed by Asia Pacific and Europe, with shares of 32% and 24% respectively. The Middle East, Latin America, and Africa are expected to account for the remaining 7% of the overall submarine market
- The SSN segment is estimated to account for 38.3% of the global submarinemarket.SSK and SSBN segments are also expected to account for a significant portion of the total submarine market during the forecast period, with shares of 35.3% and 26.4% respectively
- Global spending on submarine MROsis projected to increase from US$2.8 billion in 2016 to US$3.3 billion in 2026, registering a CAGR of 1.67% during the forecast period
The Global Submarine Market 2016-2026 report offers a detailed analysis of the industry with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for Submarines, key market trends, and challenges faced by industry participants. In particular, it provides an in-depth analysis of the following:
- Market size and drivers: detailed analysis during 2016-2026, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of Submarine segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand
- Major programs: details of the key programs in each segment, which are expected to be executed during 2016-2026
Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global Submarines market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different Submarine segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global Submarine market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the internal ministries of different countries within the Submarine market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Submarine service providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
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