Submarine Combat System Market Size By Submarine Type (SSK [Diesel Electric Submarine], SSN [Nuclear-Powered Submarine], SSBN [Nuclear-Powered Ballistic Missile Submarine], SSGN [Nuclear-Powered Guided Missile Submarine]), By Weapon System (Electronic Warfare, Torpedoes, Ballistic Missiles, Cruise Missiles, Mines), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI3054  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Submarine Combat System Market size valued at USD 4 billion in 2019 and anticipated to witness over 7% CAGR between 2020 and 2026.
 

The submarine combat system market encompasses an anti-submarine warfare system that uses warships and other submarines to track, detect, damage, and destroy enemy submarines. Countries are primarily engaged in enhancing anti-submarine warfare systems for their safety. Furthermore, incorporation of advanced combat systems significantly enhances weapon control configurations and maritime mission capabilities, accelerating the market size.
 

Submarine Combat System Market

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Deployment of new and future submarine programs offering long-range and multi-mission capabilities is anticipated to propel the market due to adoption of advanced submarine combat systems.
 

For instance, in July 2018, General Dynamics Mission Systems signed a strategic contract with the U.S. Navy worth USD 18.3 million to upgrade the U.S. Navy AN/BYG-1 submarine combat system. The major submarine combat weapon system included in this market consists of electronic warfare, torpedoes, ballistic missiles, cruise missiles, and mines.
 

The increasing adoption of enhanced submarine combat weapon systems to strengthen the submarine capability will increase the submarine combat system market share. The defense organizations of several countries are signing strategic agreements with key industry participants to increase their submarine fleet with enhanced capabilities & advanced submarine combat systems.
 

For instance, in January 2018, Australia’s Department of Defense signed a contract with Lockheed Martin Australia worth USD 700 to design and develop future submarine combat systems with enhancement in operational capabilities.
 

Submarine Combat System Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 4 Billion (2019)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 7% 2026 Value Projection: USD 8 Billion (2026)
Pages: 200 Tables, Charts & Figures: 198
Geographies covered (20): U.S., Canada, UK, Germany, France, Russia, Italy, Sweden, China, India, Japan, North Korea, South Korea, Australia, Brazil, Colombia, Iran, Egypt, Israel, Turkey
Segments covered: Submarine Type, Weapon System
Companies covered (13): Lockheed Martin Corporation, Atlas Elektronik GmbH, Thales Group, Saab AB, Raytheon Company, BAE Systems Plc, Kongsberg, Naval Group, Leonardo S.p.A, HAVELSAN Inc., Safran, General Dynamics, Thyssenkrupp Marine Systems
Growth Drivers:
  • Increasing threats to national security supporting the market growth
  • Increasing acquisition of submarines
  • Rising investment in defense sector
  • Upgradation of advanced weapon system
Pitfalls & Challenges:
  • High cost associated with acquisition and upgradation of submarine combat systems
  • Stringent government regulations limiting technology adoption

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Increasing demand for nuclear-powered ballistic missile submarines

The SSBN segment in the submarine combat system industry is expected to register growth of over 11% till 2026 due to increasing concerns of governments regarding improving sea line security and preventing & deterring enemy weapons.
 

These submarine combat systems are superiorly capable in terms of nuclear deterrence and are benefited with special features such as complete destruction of the enemy and ability to remain hidden underwater for a longer period without being detected.
 

Increased focus on the acquisition of advanced torpedoes is driving China industry growth

The torpedoes weapon segment in the China submarine combat system market will hold a considerable revenue share through 2026 owing to additional ability of being deployable in both below and above water levels. The advanced features in torpedoes are integrated with complex devices that help to control the depth and direction of the weapon, propelling the market share.
 

Government organizations are focused on torpedoes that will provide better approach-and-attack options, enhancing the probability of destroying the enemy and escaping a potentially lethal counterattack. For instance, the Mark 48 torpedoes and its improved Advanced Capability (ADCAP) are capable of performing on anti-surface and anti-submarine operations, featuring very low noise that makes it difficult for enemies to detect and respond effectively.
 

Rising demand for ballistic missiles in North America is supporting the market growth

North America Submarine Combat System Revenue By Weapon System

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The ballistic missiles segment is set to expand at around 5% between 2020 and 2026 impelled by increasing procurement by U.S. and Canada to enhance the weapon system fleet that will help to safeguard the nation.
 

North America contributes to over 40% in the global defense expenditure, further supporting the submarine combat system market demand. Supporting government initiatives for the procurement of ballistic missile in submarines will enhance the market revenue.
 

For instance, in October 2017, U.S. Navy announced a contractual agreement of USD 5.1 billion with General Dynamics for integrating product and process development of submarines. This contract involved technology, design and component upgradation followed by testing of prototypes for ballistic missile submarines (SSBNs).
 

Acquisition of advanced weapon system and MRO of submarine fleet in Asia Pacific

Asia Pacific Submarine Combat System Revenue By Country

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Asia Pacific submarine combat system market held a revenue share of over 35% in 2019 on account of presence of a large submarine fleet of approximately 239 submarines. Increasing government initiatives & policies taken to strengthen the boundaries of Asia Pacific countries will further support the market share during the forecast timeframe.
 

The region is expected to undergo maintenance activities due to the end of the service life of submarines, positively impacting the market revenue. Furthermore, Asian countries are expected to have over 100 new submarines by 2030 that will strengthen the borders and safeguard the country from neighboring nations, enhancing market size.
 

Submarine combat system market growth characterized by strategic defense partnerships among countries

The companies operating in the market are focusing on strategic partnerships and collaborations with industry participants and government organizations to expand their market shares. For instance, in March 2019, Naval Group and the Australia Defense sector signed a strategic submarine design agreement that includes more than 100 major and critical components that will contribute to an effective submarine design solution. The contract was signed for attack class submarines for the Australian fleet that will enhance market share over the coming years.
 

Some of the major market players include Lockheed Martin Corporation, Atlas Elektronik GmbH, Thales Group, Saab AB, Raytheon Company, BAE Systems Plc, Kongsberg, Naval Group, Leonardo S.p.A, HAVELSAN, Inc., Safran, General Dynamics, and ThyssenKrupp Marine Systems.
 

The submarine combat system market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
 

Market by Submarine Type

  • SSK
  • SSN
  • SSBN
  • SSGN

Market by Weapon System

  • Electronic Warfare
  • Torpedoes
  • Ballistic Missiles
  • Cruise Missiles
  • Mines

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Sweden
  • Asia Pacific
    • China
    • India
    • Japan
    • North Korea
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Colombia
  • MEA
    • Iran
    • Egypt
    • Israel
    • Turkey
       

Frequently Asked Questions (FAQ) :

Asia Pacific held a market share of over 35% in 2019 on account of the presence of a large submarine fleet of approximately 239 submarines.
Some of the major market players include Lockheed Martin Corporation, Atlas Elektronik GmbH, Thales Group, Saab AB, Raytheon Company, BAE Systems Plc, Kongsberg, Naval Group, Leonardo S.p.A, HAVELSAN, Inc., Safran, General Dynamics, and ThyssenKrupp Marine Systems.
The ballistic missiles segment is set to expand at around 5% between 2020 and 2026 impelled by increasing procurement by U.S. and Canada to enhance the weapon system fleet that will help to safeguard the nation.
The torpedoes weapon segment in the China submarine combat system market will hold a considerable revenue share through 2026 owing to its additional ability of being deployable in both below and above water levels.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 200
  • Tables: 178
  • Charts / Figures: 20
  • Companies covered: 13
  • Countries covered: 20

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