Submarine Combat System Market Analysis

Submarine Combat System Market Analysis

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.

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.

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).
 

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.