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"
The submarine combat
systems market is estimated to be valued at USD 4.97 Billion in 2016 and is
projected to reach USD 11.67 Billion in 2022, at a CAGR of 15.3%.
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TOC on “Submarine Combat Systems Market”
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The electronic support
measure system segment is projected to witness high growth during the forecast
period.
Based on system, the
electronic support measure system segment of the submarine combat systems is
projected to grow at a higher CAGR during the forecast period. Enhancement in
sensors and armament technologies have resulted in better anti-submarine
warfare technologies. Electronic support measures systems are required for
defensive measures and secure communications of submarines. These systems use
different technologies to increase submarine’s capabilities of survivability
and stealth by reducing chances of detection by enemy platforms, avoidance of
incoming threats.
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The retrofit
segment is estimated to witness highest growth during the forecast period.
Retrofit of submarines are
essential for submarine’s mid-life upgradation. The new systems installed on
the submarines are cost efficient methods to modernize submarines systems.
Naval forces across the world are focusing on upgrading submarines to enhance
their anti-submarine warfare techniques. Hence, defense agencies are increasing
their budgets for the procurement of new generation sensors and submarine
combat systems. Europe is the largest market for retrofit during the forecast
period.
Europe is expected to
witness highest growth in retrofit market during the forecast period.
Cold war period saw a huge
investment in submarine platforms. After end of cold war, submarines induced in
late 1990’s are estimated to undergo mid-life upgrades. Russia is expected to
be main contributor to submarine combat systems market during the forecast
period. The older submarines are likely to go upgradation program and
thus drive the retrofit market of submarine combat systems. The growth would be
seen in Europe and Asia Pacific region owing to their new submarine acquisition
and submarine upgradation program.
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The major players
identified in submarine combat systems are Lockheed Martin (U.S), BAE Systems
(UK), Raytheon (U.S.) and Atlas Elektronik (Germany). These key players have
adopted the key strategies of contracts and new product developments to
strengthen their position in the sonar system market.
