Global airborne detection systems for submarines market generated a revenue of $560.0 million in 2016 and is estimated to grow at a CAGR of 7.5% during 2016-2026
LONDON, Nov. 15, 2017 /PRNewswire/ -- Global Airborne Detection Systems for Submarines Market to Reach $1.16 Billion by 2026
Download the full report: https://www.reportbuyer.com/product/5201360
Submarines are one of the most powerful underwater systems that have been used by the naval force in order to carry out distinct stealth operations. These vessels can be used against the forces of the other nations to perform sensitive missions quietly that possess numerous undersea threats. Therefore, it becomes necessary for the countries to protect their nations from such underwater threats. This gives rise to the development of systems that can detect and track enemy submarines through airborne platforms. Airborne detection systems for submarines have better advantages over other platform detection systems. Detecting submarine through airborne platforms such as helicopters and fixed-wings is highly efficient as it enables wider coverage area for submarine detection. Moreover, it also offers better safety while performing such operations.
This high scale growth of airborne detection systems for submarines industry is subsequently influencing the market, wherein new technologies of airborne detection systems for submarines are being developed. The increasing defense budget of several countries across the globe and underwater threats due to growing wars and conflicts among the neighboring nations are the key drivers for its increased adoption by the naval forces. Globally, the defense spending of all the countries is increasing annually which is a part of defense modernization program adopted for strengthening the nation's military forces.
Moreover, growing submarine fleet as well as the development of advanced airborne detection systems is providing the opportunity for the growth of the global airborne detection systems for submarines market. There are mainly four types of airborne detection systems for submarines that include sonobuoys, dipping sonars, radars and magnetic anomaly detection systems.
In addition to this, dipping sonars is expected to have the highest growth rate during the forecast period 2017-2026 due to the higher chances of submarine detection as compared with other detection systems. By analysis, global airborne detection systems for submarines market generated a revenue of $560.0 million in 2016 and is estimated to grow at a CAGR of 7.5% during 2016-2026. North America generated most of the revenue in airborne detection systems for submarines market in 2016 with the U.S. acquiring most of the market share, globally. However, Asia-Pacific is expected to have the highest growth rate including India, growing at the highest CAGR during the forecast period 2017-2026.
Following points provide a concrete description of the report content and the topics covered in the report:
• This report identifies the global airborne detection systems for submarines market under different segments such as types and regions
• It examines prime supply side factors affecting the growth of the market along with the current and future trends, market drivers, restraints and challenges prevalent in the global airborne detection systems for submarines market
• The report also highlights the value chain of the industry with a major focus on the technology roadmap
• A detailed competitive analysis has been included in this report which focuses on the ¬key market developments & strategies followed by the key players in the market. Additionally, market share analysis model has been included in the existing study which analyzes the share of the market players in the global airborne detection systems for submarines market
• Different caliber types of the global airborne detection systems for submarines market, such as sonobuoys, dipping sonars, radars and magnetic anomaly detection systems, has been estimated and analyzed in the report
• The global airborne detection systems for submarines has been analyzed in the report for major regions including North America, Europe, Asia-Pacific, and rest of the world
• A detailed Porter's Five Forces analysis has been included in the report. Furthermore, the report also focuses on providing information on the key participants and future opportunities in the airborne detection systems for submarines market
• The study provides detailed analysis of the 10 key players in the airborne detection systems for submarines market including Ultra Electronics, Raytheon Inc., Thales Group, General Dynamics, L3 Ocean Systems, BAE Systems, Lockheed Martin Corporation,
Atlas Elektronik Gmbh, Kongsberg Gruppen, Saab and Northrop Grumman, among others, in the Company Profiles section. This section covers business financials, company snapshots, key products & services, major developments, future programs (if any), and finally, the individual SWOT analysis.
Executive Summary
Submarines are the most powerful and high-technology underwater vessels in the world. These vessels are used for performing undersea stealth operations such as intelligence, surveillance and launching torpedoes to attack other underwater objects. Moreover, submarines are quite while performing such operations and possess threats to the naval forces of other countries. Therefore, there arises the need for the systems that could detect the presence of submarines through multiple platforms. Airborne platforms proved to be the most beneficial way of detecting and tracking submerged submarines. Airborne detection systems could cover larger area as compared to other platforms and thus, enhance the chances of submarine detection.
There have been numerous developments by the submarine manufacturers in the field of airborne detection systems for submarines. Manufacturers are also collaborating with other companies in order to geographically expand their product offerings across different regions of the globe. Furthermore, manufacturers have received various contracts from naval forces of different nations for the procurement of specific airborne detection systems for submarines.
The global airborne detection systems for submarines market is growing moderately with the increasing defense budget of various nations as well as rising threats from underwater vessels. However, there are certain restraining factors such as rigorous development of extremely silent submarines that are becoming difficult to detect and underwater environmental threats due to use of sonars in most of the sensitive areas of the sea.
The global airborne detection systems for submarines market is expected to reach $1,157.6 million by 2026. Owing to the increasing demand for submarines as well as development of advanced airborne detection systems, the market of global airborne detection systems for submarines is expected to show moderate growth rate and is estimated to grow at the CAGR of 7.5% during 2016-2026. The global airborne detection systems for submarines market majorly focuses on the types that include sonobuoys, dipping sonars, radars and magnetic anomaly detection systems.
The sonobuoys acquired the highest market value in 2016 and is growing at a CAGR of 7.9%. The reason for such strong market share is attributed to the advantages of its better cost efficiency as compared to the other airborne detection systems for submarines and higher volume demand from the end-users as these systems can't be recovered post completion of the operation. Moreover, dipping sonars is estimated to grow with the highest CAGR of 8.3% during 2016-2026 due to advancements in the sonar technology.
North America dominated the market in 2016 and is growing at a CAGR of 6.9% during the forecast period. Asia-Pacific is expected to grow at the highest CAGR of 9.5% during 2016-2026. Kongsberg Gruppen, L3 Ocean systems, BAE Systems, Lockheed Martin Corporation, Saab, Atlas Elektronik Gmbh, Northrop Grumman Corporation, Ultra Electronics, Thales Group, Raytheon Inc. and General Dynamics, among others, are some of the major players of the global airborne detection systems for submarines market.
The U.S. is the most prominent nation in North America for the growth of global airborne detection systems for submarines market. The increased demand for airborne detection systems for submarines in the U.S. is due to the adoption of military modernization plans and growing underwater threats. Europe is another leading region for using airborne detection systems for submarines in naval applications. Some of the prominent countries in the European region include the U.K., Germany, France and Sweden, among others.
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period 2017-2026. The rising demand is caused by the increase in the defense budget of the emerging economies across the region and rising conflicts amongst the neighboring nations. Furthermore, India is expected to show the highest growth rate in airborne detection systems for submarines market, globally. The Asia-Pacific region could provide a lot more opportunities to the new entrants in the market. The rest of the world includes Middle-East, Africa and Latin America; the region is estimated to have a rapid growth rate for airborne detection systems for submarines market during the forecast period 2017-2026. In order to increase the country's military strength, the government is focusing on procuring more number of airborne detection systems for submarines.
Countries Covered
• North American
• U.S
• Canada
• European
• U.K.
• Germany
• France
• Sweden
• Asia Pacific
• China
• India
• Japan
• South Korea
• RoW
Download the full report: https://www.reportbuyer.com/product/5201360
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article