Report Ocean presents a comprehensive research report on Undersea Warfare Systems, analyzing 150+ country markets and leveraging 1,00000+ annual reports. Crafted by top experts and researchers, this report ensures accuracy through authentic sources and robust methodologies like S.W.O.T., P.E.S.T.E.L. analysis, and regression analysis. It delves into technology, innovation, regulations, and future prospects in the Undersea Warfare Systems industry.
The global undersea warfare systems market size was US$ 15.1 billion in 2021. The global undersea warfare systems market is expected to grow to US$ 21.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.1% during the study period from 2022 to 2030.
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COVID-19 Impact Analysis
The COVID-19 pandemic has halted the growth of the undersea warfare systems industry due to the supply chain disruptions that resulted in a massive falloff. Additionally, other factors like falling business confidence and increasing panic among the end-use segments further hampered the growth of the market during the study period. The whole lockdown and temporary shutdown of industries have already been proclaimed by governments in several places, which has a negative impact on overall production and sales. The COVID-19 pandemic’s effects have slowed down testing and demonstrations, restricted key participants’ ability to operate, and delayed the development of undersea combat equipment.
Factors Influencing the Market
Submarines are growing in popularity due to their profitable characteristics. These characteristics include stealth, versatility, lethality, and endurance. Moreover, they significantly increase sea strength and mission advantage and are essentially unnoticeable when fully buried. Additionally, the operational stealth of submarines is crucial as countries are emphasizing regional and international maritime monitoring systems. For instance, under Project 75, the Indian Navy granted an order for its 4th stealth Scorpene-class submarine, which includes six submarines of Scorpene design. The announcement was made in November 2021. The growing initiatives by governments to boost the strength of the navy are expected to present potential prospects for the undersea warfare systems market during the analysis period.
Growing disputes between nations are expected to boost the growth of the undersea warfare systems market during the analysis period.
Regional Analysis
Asia-Pacific would exhibit the highest growth rate during the study period. India, China, South Korea, and Japan are expected to dominate the Asia-Pacific region. Additionally, growing research and development initiatives launched by various research institutions serve as a market opportunity aspect. Apart from that, other factors like growing disputes over offshore resources, commercial routes, and maritime borders are expected to fuel demand for underwater warfare equipment. Key navies around the world are incorporating counter and anti-access area denial into their marine operations, and undersea warfare is expected to regain some of its prioritization.
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Competitors in the Market
BAE Systems Plc
General Dynamics Corporation
Kongsberg Gruppen
L3Harris Technologies, Inc.
Leonardo S.p.A.
Lockheed Martin Corporation
Northrop Grumman Corporation
Raytheon Technologies Corporation
Saab AB
Thales Group
Other Prominent Players
Market Segmentation
The global undersea warfare systems market segmentation focuses on Type, Mode of Operation, Application, and Region.
Undersea Warfare Systems Market, By Type
Communication and Surveillance Systems
Sensors and Computation Systems
Countermeasure Systems and Payload
Unmanned Underwater Vehicles
Weapon Systems
Undersea Warfare Systems Market, By Mode of Operation
Manned Operations
Autonomous Operations
Remotely Operations
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Undersea Warfare Systems Market, By Application
Combat
C4ISR
Others
Undersea Warfare Systems Market, By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
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UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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