Technavio analysts forecast the global submarine combat systems market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global submarine combat systems market for the period 2019-2023. (Graphic: Business Wire)
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According to Technavio analysts, one of the key factors contributing to the growth of the global submarine combat systems market is the advancement of acoustic sensors and sonar technologies:
Global submarine combat systems market: Advancement of acoustic sensors and sonar technologies
Several countries are investing in their submarine combat capabilities by developing advanced acoustic sensors and sonar technologies to dominate in undersea warfare. Countries such as China, Russia, and the US are rapidly enhancing their submarines’ capabilities to ensure rapid detection of objects or threats around their submarine. Acoustic superiority is the key dominating factor that has resulted in increased investments in sensors and sonar technologies. The acoustic sensor used in sonars of submarines can detect external sounds and determine the contours, speed, and range of an enemy vessel, as well as other approaching threats such as torpedoes.
According to a senior analyst at Technavio for research on defense, “Acoustic energy functions by employing sound waves, which works on a similar principle as that of a radar analysis, where electromagnetic signals bounced off an object. The undersea acoustic technologies are passive in nature, i.e., these technologies are engineered to receive signals without transmitting any signal as this helps them from revealing their presence or location to enemies. Such technologies make undersea war platforms more effective and boost the submarine combat systems market growth.”
Global submarine combat systems market: Segmentation analysis
The global submarine combat systems market research report provides market segmentation by application (SSN, SSBN, and SSK) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The SSN segment held the largest market share in 2018, accounting for nearly 41% of the global market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2018 with a market share of nearly 38%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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