Submarine Combat Systems Market Growing at a CAGR of 15.3% During 2016 to 2022

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Feb 01, 2017, 08:00 ET

PUNE, India, February 1, 2017 /PRNewswire/ --

The submarine combat systems market is estimated to be valued at USD 4.97 billion in 2016 and projected to reach USD 11.67 billion by 2022 at a CAGR of 15.3% while armaments is expected to account for the largest market share in the sub-system segment of the submarine combat systems market.

The growth in the submarine combat systems market can be attributed to increasing investments in maritime security. The market for submarine combat systems is driven by several factors such as, maritime territorial disputes and their threat to sea trade.

Browse 106 tables and 82 figures, 10 Company profiles spread across 186 pages available at http://www.reportsnreports.com/reports/834426-submarine-combat-systems-market-by-system-sensors-electronic-support-measures-armaments-submarine-type-ship-submersible-hunter-killer-ship-submersible-nuclear-ship-submersible-ballistic-nuclear-retrofit-r-st-to-2022.html .

On the basis of sub-system, armaments under the systems segment are estimated to have captured the largest share of the submarine combat systems market in 2016. Armaments include weapons such as, torpedoes, cruise missiles, and ballistic missiles. The growth in armaments can be attributed to the increase in orders for new submarines and ageing of existing armaments in submarines.

The Asia-Pacific region is projected to lead the submarine combat systems market during the forecast period and is estimated to have captured the largest share of the submarine combat systems market in 2016. Localization of submarine manufacture and submarine based combat systems are the key drivers for this market. Recent geopolitical developments such as, South China Sea and East China Sea disputes between China and its neighboring countries such as, Taiwan, Brunei, Malaysia, Philippines, Japan, and Vietnam over Spratly and Senkaku islands respectively, is a major factor for the increase in investments in naval assets.

The major companies profiled in the report are, Lockheed Martin Corporation (U.S.), SAABAB (Sweden), Kongsberg Gruppen ASA (Norway), General Dynamics Corporation (U.S.), Atlas Electronic GmbH (Germany). Order a copy of Submarine Combat Systems Market by System (Sensors, Electronic Support Measures, Armaments), Submarine Type (Ship Submersible Hunter Killer, Ship Submersible Nuclear, Ship Submersible Ballistic Nuclear), Retrofit, Region - Global Forecast to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=834426 .

To determine the market size of various segments and sub-segments of the submarine combat systems market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Directors Level (25%) and others (40%) from various key organizations operating in the global submarine combat systems market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%) and RoW (5%).

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