Global Submarine Market Growth 2023-2029

Global Submarine Market Growth 2023-2029

A submarine is an underwater naval platform that can stay submerged for extended periods and is deployed for multiple defense functions. It is considered crucial for a nation’s maritime security and is used for both offensive and defensive purposes. Submarines are designed for greater agility and stealth capabilities. These vessels are armed with powerful weapons such as missiles and torpedoes.

LPI (LP Information)' newest research report, the “Submarine Industry Forecast” looks at past sales and reviews total world Submarine sales in 2022, providing a comprehensive analysis by region and market sector of projected Submarine sales for 2023 through 2029. With Submarine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Submarine industry.

This Insight Report provides a comprehensive analysis of the global Submarine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Submarine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Submarine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Submarine and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Submarine.

The global Submarine market size is projected to grow from US$ 20340 million in 2022 to US$ 28000 million in 2029; it is expected to grow at a CAGR of 28000 from 2023 to 2029.

The growing demand for unmanned underwater vehicles (UUVs) has been a key growth driver for this market. UUVs have extensive applications in naval intelligence, mine countermeasures operations, surveillance and reconnaissance, and anti-submarine warfare missions. In maritime operations, UUVs are primarily designed for underwater surveillance, hull inspection, dock inspections, and underwater mines deactivation. Also, these UUVs are fitted with high-definition cameras that send visual data from the UUV to the operator. With better images and improved control of the vehicle, a better inspection of the underwater environment is possible which aids in naval operations. Recently, there has been an increased usage of these unmanned vehicles for electronic attack, communication transfer, combat, search, and rescue missions, and C4ISR operations. Thus, the increasing activities related to seabed mapping and mining will propel the market for submarines during the forecast period.

This report presents a comprehensive overview, market shares, and growth opportunities of Submarine market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Nuclear-Powered Attack Submarine (SSN)
Nuclear-Powered Ballistic Missile Submarine (SSBN)
Kilo-Class Submarine (SSK)

Segmentation by application
Surveillance and Reconnaissance
Intelligence Gathering
Patrolling
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BAE Systems
Daewoo Shipbuilding & Marine Engineering
General Dynamics Electric Boat
Huntington Ingalls Industries
Kawasaki Heavy Industries
Lockheed Martin
Mitsubishi Heavy Industries
Saab

Key Questions Addressed in this Report

What is the 10-year outlook for the global Submarine market?

What factors are driving Submarine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Submarine market opportunities vary by end market size?

How does Submarine break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.