Submarine Market: Global Industry Analysis By Size, Share, Trends, Segments Overview, Major Geographies, Prominent Players Review and Forecast To 2023

Submarine Market: Global Industry Analysis By Size, Share, Trends, Segments Overview, Major Geographies, Prominent Players Review and Forecast To 2023

“Submarine Market”
Global Submarine Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

A submarine is a ship capable of propelling itself underwater as well as on the surface of the water. Submarines are way different in design and appearance from surface ships. Due to such unique capability, submarines are primarily used as warships. Submarines used as warships have the capability to use a range of weapons and a self-propelled underwater missile known as a torpedo is their primary weapon.

Imperative in combat, surveillance, counter-surveillance, and other underwater missions, submarines have become a vital part of naval forces. Armed forces are the strength of a nation, and naval force being a vital part of the armed force, even in the tough economic context; governments continue to spend considerable sums on maintaining capable warships.

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As a result, the global submarine market witnesses a constant growth. Factors such as substantial investment by the government to strengthen the marine forces drive the growth of the submarine market. Moreover, large budgets incorporated in modernization and upgrades of submarines escalate the market on the global platform.

Acknowledging the accruals the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global Submarine market will witness a significant upsurge by 2023, registering approximately 4.24% of a CAGR throughout the anticipated period (2018 – 2023).  This growth largely attributes to the growing demand for advanced autonomous submarine and increased need for marine surveillance.

The submarine market is majorly driven by the complexity in inspection & monitoring of remote and discrete systems in a military operation. Additional factors that are contributing to the growth of the market include increased demand for maritime surveillance; rising terrorism, and the growing uptake of submarines due to their efficacy in underwater surveillance, etc.

On the flipside, factors such as economic recession and restricted defense budgets alongside the design challenges and the operational and technological difficulties impede the growth of the market.

Major Players

Key players leading the global submarine market include General Dynamics (US), Daewoo Shipbuilding & Marine Engineering Co. Ltd. (South Korea), Huntington Ingalls Industries (US), FINCANTIERI S.p.A. (Italy), Mazagon Dock Shipbuilders Limited (India), Lockheed Martin Corporation (US), Kawasaki Heavy Industries Ltd. (Japan), Thales Group (France), BAE Systems (UK), and Saab AB (Sweden) among others.

Global Submarine Market – Competitive Landscape

Highly competitive, the submarine market appears to be fragmented characterized by the presence of several major well-established players. These players incorporate strategic initiatives such as collaboration, acquisition, partnership, technology launch, and expansion in order to maintain their positions in this market by gaining a competitive advantage. Strategic alliances between these players support the growth and expansion plans of the key players during the forecast period.

Intented Audience

  • Submarine manufacturers
  • Defense authorities
  • Distributers & supplier companies
  • Research institutes & educational institutes
  • Naval organizations
  • Maritime organizations
  • Water research laboratories

Industry/ Innovation/ Related News

May 06, 2019 —- Indian Navy launched the Scorpene-class submarine Vela with an aim to boost the capability to defend and secure the strategic sea lanes. The fourth of six underwater warships being built in India with French collaborator Ms. Naval Group (formerly DCNS), submarine Vela will undergo a number of tests conducted by the Navy before it is commissioned in the defense fleet.

May 27, 2019 —- Uber Technologies Inc. (the US), a multinational transportation network company in collaboration with Queensland, Australia, launched the scUber, world’s first submarine ride-share service, to the Great Barrier Reef.

The scUber, is the world’s first submarine ride-share service which gives one hour underwater experience to the home of 3,000 individual reefs, 900 islands and over 1,500 species of fish.

Global Submarine Market – Segmentation

For an easy grasp, the market is segmented into four key dynamics;  

By Type : Nuclear Powered Submarine, Diesel Electric Submarine, and Ballistic Missile Submarine

By Application : Marine Environmental Monitoring, Detection of Oil Resources, Scientific Research, Surveillance, and Combat among others.

By Platform : Commercial and Military

By Region : Asia Pacific, North America, Europe, and Rest-of-the-World (RoW). 

Global Submarine Market – Regional Analysis

North America heading with the heavy demand for nuclear-powered submarines and advanced combat technologies would retain its dominance over the global submarine market throughout the forecast period.  Moreover, factors such as the modernization of naval fleets undertaken by the Canadian government are expected to contribute to the regional submarine market. The submarine market in North America is expected to reach a valuation of USD 10,588.3 MN by 2023.

The US, backed by its fleet of several ballistic missile submarines ready at sea, capable of striking back and avenging a surprise attack, accounts for a key contributor to the growth of the market.

The submarine market in the European region accounts for the second-largest market, globally. Lead by the substantial support from the UK, France, and Germany, the submarine market in the region is expected to grow at a 4.11% CAGR over the forecast period. Factors such as the large budget of nations such as the UK to improve the technology of dreadnoughts foster the demand in the submarine market.

The submarine market in the Middle East and Africa region witnesses a massive demand from companies operating in the oil & gas sector. Countries such as Israel and Iran are promising markets as these regions require submarines to fortify their defense sector.

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Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition 
2.2 Scope of the Study 
2.3 List of Assumptions 
2.4 Market Structure 
2.5 Key Takeaways

3 Research Methodology
3.1 Research Process 
3.2 Primary Research 
3.3 Secondary Research 
3.4 Market Size Estimation 
3.5 Forecast Model


List of Tables

Table 1 Market Synopsis 
Table 2 List of Assumptions 
Table 3 Major Granted Patents on Submarine (24th September 2014 – 24th September 2018) 
Table 4 Global Unmanned Underwater Vehicle Market, by Region, 2017-2023 (Usd Million) 
Table 5 Global Submarine Market, by Type, 2017-2023 (Usd Million) 
Table 6 Global Submarine Market, by Application, 2017-2023 (Usd Million) 
Table 7 Global Submarine Market, by Platform, 2017-2023 (Usd Million)


List of Figures

Figure 1 Global Submarine Market: Market Structure 
Figure 2 Key Takeaways From Submarine Market 
Figure 3 Research Process of Mrfr 
Figure 4 Top-down & Bottom-up Approach 
Figure 5 Drot Analysis of Global Submarine Market 
Figure 6 Best Attack Submarines 
Figure 7 Porter’s Five Forces Analysis of the Global Submarine Market 
Figure 8 Supply Chain: Submarine


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