Global Submarine Periscope and Optronic Mast Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Submarine Periscope and Optronic Mast Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Submarine periscope is a photoelectric (optical) equipment used by submarines to observe surface and air targets at a certain depth underwater. A submarine periscope's basic purpose is to allow submarine crews to see objects above the water while the ship remains submerged. The optronics mast provides the imaging, navigation, electronic warfare and communications functions of a conventional optical periscope.

Market Overview:


The latest research study on the global Submarine Periscope and Optronic Mast market finds that the global Submarine Periscope and Optronic Mast market reached a value of USD 203.3 million in 2022. It’s expected that the market will achieve USD 295.62 million by 2028, exhibiting a CAGR of 6.44% during the forecast period.

On February 24, 2022, Russia launched a special military operation in the Donbas region, which later developed into a military operation against the entire Ukraine. The conflict between Russia and Ukraine is still ongoing. Some countries have begun to increase defense expenditures, and non-NATO members may also increase defense expenditures accordingly. In Europe, with the outbreak of the Russia-Ukraine conflict, strengthening armaments has become a consensus in Europe, and it is expected that military expenditure in Europe will rise sharply in 2022. Countries including Germany, Denmark, Sweden and Italy have all said they would increase military spending to 2 percent of gross domestic product. In the next ten years, the focus of European military development is to strengthen the defense capabilities of the homeland. The arms race triggered by the Russo-Ukraine war will promote the development and transformation of submarines, which will drive the demand for submarine periscopes and electro-optical masts.

1 Drivers

1.1 Increased military spending in Europe and the United States drives the market for submarine periscopes and optronic masts.
1.2 With the increase in defense expenditure in the Asia-Pacific region, submarine periscopes and photoelectric masts have market potential.
1.3 The application of submarine periscope and optronic mast on civilian submarines has market potential.

2 Market Challenges and Impact

2.1 High industry barriers.
Military equipment has the trend of remote precision, intelligence and modernization. The selection and use conditions of submarine periscopes and photoelectric masts are strict and have high industry barriers. Supplier switching costs are high, and military customers pay more attention to product performance and reliability.

Region Overview:


Asia Pacific was the largest revenue market with a market share of 35.44% in 2017 and 38.84% in 2022, an increase of 3.41%. In 2022, Europe market share was 37.50%, ranking second.

Company Overview:


Hensoldt Optronics GmbH (Airbus DS Optronics)
HENSOLDT is a German champion in the defence industry with a leading market position in Europe and a global reach. As a technology leader, HENSOLDT also continuously expands its Cyber portfolio and develops new products to combat a wide range of threats based on innovative approaches to data management, robotics and cybersecurity.

L3 KEO

L3 KEO employs a full spectrum of engineering and manufacturing disciplines to design and build sensor systems for submarines, surface ships, combat vehicles, and other defense platforms.

Submarine Periscope and Optronic Mast companies are mainly from Europe and United States; the industry concentrate rate is relativity high. The market share of the top three companies in 2021 was 57.29%. The top three companies are Hensoldt Optronics GmbH (Airbus DS Optronics), L3 KEO and Thales, with the revenue market share of 27.94%, 15.63% and 13.72% in 2021.

Segmentation Overview:



Periscope

A periscope is an instrument for observation over, around or through an object, obstacle or condition that prevents direct line-of-sight observation from an observer's current position. More complex submarine periscopes using lenses, mirrors, prisms and providing magnification operate on submarines.

Optronic Mast

An optronics mast (or photonics mast) is a sensor on a submarine that functions similarly to a periscope without requiring a periscope tube, thus freeing design space during construction and limiting risks of water leakage in the event of damage. An optronics mast replaces the mechanical, line-of-sight viewing system with digital equipment, similar to a digital camera array, and it has fewer locational and dimensional constraints than a traditional periscope.

Among different product types, the Optronic Mast segment is anticipated to contribute the largest market share in 2027.

Application Overview:


According to different application scenarios of periscope and optronic mast, it can be divided into retrofit submarines and newly built submarines.

By application, the New-build Submarines segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Submarine Periscope and Optronic Mast market covered in Chapter 3:

Thales
BAE
Hensoldt Optronics GmbH (Airbus DS Optronics)
Safran
L3 KEO
MacTaggart Scott

In Chapter 4 and Chapter 14.2, on the basis of types, the Submarine Periscope and Optronic Mast market from 2018 to 2029 is primarily split into:

Periscope
Optronic Mast

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Submarine Periscope and Optronic Mast market from 2018 to 2029 covers:

Retrofit Submarines
New-build Submarines

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)