High initial and operational costs of attack submarines and operational complexity fueling growth

DUBLIN, September 13, 2022 / PRNewswire / – “Submarine Warfare Systems Market by Type, Mode of Operation, Application: Global Opportunity Analysis and Industry Forecasts, 2021-2031” report added to by ResearchAndMarkets.com offer.

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The submarine warfare systems market was valued at $ 15.8 billion in 2021 and is estimated to reach 24.8 billion dollars by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

North America is an important market for submarine warfare systems, due to the high adoption of advanced weapons among the government and military agencies. In addition, government and military organizations are investing significantly in the development of advanced underwater weapons, due to increasing safety concerns, which favors market growth.

In addition, factors such as increased funding to strengthen naval forces, the presence of a large number of key manufacturers, significant funding for research and development, and the availability of technologically advanced products such as submarine weapons and communications systems are some of the key factors contributing to the rapid growth of the submarine warfare systems market in this region.

Additionally, governments and military organizations are awarding contracts to several companies to develop unmanned underwater vehicle (UUV), sonar, mine countermeasures and surveillance solutions, which spur market growth.
The different modes of operation for submarine warfare systems include manned operations, autonomous operations, and remote operations.

The distance trading segment is expected to grow at the highest rate during the forecast period. Remote-controlled systems are used for undersea observation, surveillance, mine warfare, and payload delivery. Several companies are developing and testing remote submarine warfare systems to increase operational capabilities.

For example, in March 2022RE2 Robotics Inc. announced that its Sea Mine Neutralization System (M2NS) has reached an “unprecedented” depth of over 1km during an open water demonstration for the US Navy’s Office of Naval Research. M2NS is made up of RE2 Sapien Sea class Robotic arms mounted on VideoRay’s Defender Inspection Class Remote Controlled Vehicle (ROV). It also uses RE2 Detect and RE2 Intellect to enable precise, autonomous and clandestine neutralization of a target.

Based on the application, the global market for submarine warfare systems is segregated in combat, C4ISR and others. Navies around the world are improving their submarine combat capabilities through numerous contracts from government and military organizations. For example, in February 2022the US Navy has awarded a $ 59.5 million contract with Lockheed Martin Corporation to supply anti-submarine systems (ASW) and torpedoes for surface warships for the United States Navy.

Significant factors impacting the growth of the submarine warfare systems market include the increased demand for stealth submarine warfare systems, the increased adoption of underwater drones for submarine warfare, and government support and investment to strengthen submarine warfare capabilities. In addition, market growth is affected by the high initial and operational costs of attack submarines and the operational complexities associated with unmanned submarine systems. In addition, the increase in initiatives to develop light torpedoes and the increase in global defense spending affect the growth of the market.

Analysis of the impact of COVID-19

The COVID-19 crisis has created uncertainty in the undersea warfare systems market, a massive slowdown in the supply chain, a decline in business confidence, and growing panic among customer segments.

Governments of several regions have already announced the total freeze and temporary closure of industries, thus adversely affecting production and overall sales. The impact of the COVID-19 pandemic has resulted in a delay in the development of submarine warfare systems and a slowdown in trials and demonstrations and restrictions on the operation of key players.

Governments around the world have prioritized the health sector to combat the widespread COVID-19 virus, which negatively impacted the performance of the defense sector. However, global defense spending has caught up $ 1.83 trillion in 2020, an annual increase of 3.9%.

In proportion to GDP, global spending increased significantly from an average of 1.85% in 2019 to 2.08% in 2020 as military budgets were maintained despite the severe economic crisis caused by the COVID-19 pandemic and a series of blocks introduced around the world in response. Pandemic blockades were lifted and then restored to curb the rise of COVID-19 infections as public services were gradually opened in major countries such as the UK, IndiaAnd Italy.

The shortage of electronic components, subsystems and systems, due to the regulations associated with the import and export of goods, has resulted in a delay in production. The development of submarine warfare systems was further affected by the shortage of material, due to the closure of production in China, South KoreaAnd Taiwan.

However, after the pandemic, the development of submarine warfare systems was observed. With the easing of blockade measures, vaccination initiatives and the consequent opening of markets around the world, the demand for submarine warfare systems is expected to increase substantially in the near future.

Main findings of the study

  • By type, the communications and surveillance systems segment is expected to show significant growth in the near future.

  • By operating mode, the remote operations segment is expected to show significant growth in the near future.

  • By application, the C4ISR segment is expected to show significant growth in the near future.

  • By region, Asia-Pacific it is expected to record the highest CAGR during the forecast period.

  • Major players operating in the global submarine warfare systems market include BAE Systems Plc., General Dynamic Corporation, Kongsberg Gruppen, L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group.

Main market players

  • BAE Systems Plc

  • General Dynamics Corporation

  • Kongsberg Group

  • L3Harris Technologies, Inc.

  • Leonardo SpA

  • Lockheed Martin Corporation

  • Northrop Grumman Corporation

  • Raytheon Technologies Corporation

  • Saab AB

  • Thales Group

Key market segments

By type

  • Communication and surveillance systems

  • Sensors and Computing Systems

  • Countermeasure and payload systems

  • Unmanned underwater vehicles

  • Weapon systems

By operating mode

  • Manned operations

  • Autonomous Operations

  • Remote operations

By application

By Region

  • North America

  • WE

  • Canada

  • Mexico

  • Europe

  • UK

  • Germany

  • France

  • Russia

  • Rest of Europe

  • Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Rest of Asia Pacific


  • Latin America

  • Middle East

  • Africa

For more information on this report, please visit https://www.researchandmarkets.com/r/67dmbx

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