Submarine Market: Global Trends, Dynamics, Segments, Size, Opportunities and Industry Demand by 2023
Submarine market Information by Type (SSN, SSBN, SSK) And Region - Forecast To 2023
The global submarine market is expected to witness high growth over the forecast period. The market is majorly driven by the increasing demand for UUV’s for naval intelligence; mine countermeasures (MCM) operations; intelligence, surveillance, and reconnaissance roles; and anti-submarine warfare missions. Many countries are modernizing their naval defense units by manufacturing submarines; surface- mine countermeasure unmanned underwater vehicles, and other combat and tactical UUVs, which is driving the growth of the global submarine market.
However, the growth of this market will be hampered, due to the costs associated with refit & maintenance and proliferation of nuclear weapons.
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The key players of global submarine market include BAE Systems AB (U.K.), Daewoo Shipbuilding & Marine Engineering Co., Ltd (South Korea), General Dynamics Electric Boat (U.S.), Huntington Ingalls Industries (U.S.), Kawasaki Heavy Industries Ltd. (Japan), Fincantieri - Cantieri Navali Italiani S.p.A. (Italy), Lockheed Martin (U.S.), Mitsubishi Heavy Industries, Ltd. (Japan), Saab group (Sweden) and Thales Group (France).
The global Submarine Market is projected to grow at ~4% CAGR during the forecast period.
Of all types, the SSN segment is projected to account for the largest market share. Unlike ....