Global Submarine Payload Market Size, Share, Trends by Submarine Type (Nuclear Powered Attack, AIP, Diesel Electric, Ballistic Missile), Payload (Sensors, Electronic Support Measures, Armaments), Application (Military, Marine, Environmental Monitoring, Detection of Oil Resources, Others) & Region –Forecast to 2023
Top Companies:
The key players in global submarine payload market are BAE Systems (U.K), General Dynamics (U.S.), Lockheed Martin (U.S.), Northrop Grumman (U.S.), DSME (South Korea), Raytheon (U.S.), Thales (France), Fincantieri (Italy), Huntington Ingalls Industries (U.S.), and Kawasaki Heavy Industries (Japan).
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Market Boosters and Key Barriers:
Numerous countries around the world are striving to develop advanced submarine warfare. Unmanned underwater vehicles (UUVs) and stealth submarines are the most feasible methods to gather intelligence. As a result, these have emerged as crucial aspects of current as well as future military operational plans. Submarines, as well as other undersea vehicles, have seen significant developments in the form of enhanced stealth and lightweight properties backed by extensive research and development (R&D). Extensive use of technology along with high-fidelity training have also boosted the quality of submarines. These kinds of transformations have transformed the dynamics of naval warfare.
Increasing investments in installation of command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) systems, radars, sensors and missiles on submarines by the United States (US), China, Russia, Iran, India, South Korea, Japan, the United Kingdom (UK) and Turkey works in favor of the submarine payload market.
The rising installation of these systems on submarines around the world is the result of the increasing need for intelligence, surveillance, and reconnaissance (ISR) and communication among defense authorities. A number of countries are trying to modernize their naval defense units by manufacturing surface-mine countermeasure unmanned underwater vehicles (UUVs), submarines, along with other tactical and combat UUVs. Surging number of these assets are expected to add to the market strength in the forthcoming years.
Market Segmentation:
The worldwide submarine payload market has been categorized with respect to submarine type, payload and application.
The types of submarines are nuclear powered attack, AIP, diesel electric and ballistic missile. Out of these, the nuclear-powered attack notes the highest demand and accounts for the biggest share of the market.
The payload segments covered in the report are sensors, electronic support measures and armaments. Sensors are touted to enjoy the strongest demand during the review period, backed by the continuously rising number of R&D activities.
In terms of application, the market includes military, marine, environmental monitoring, detection of oil resources and others. The military application covers the maximum portion with the highest demand in the submarine payload market. The strong growth of the segment is on account of mounting technological requirements of military forces. Citing a reference, Northrop Grumman Corporations Electronic Systems had entered a contract with the U.S. Navy Strategic Systems Programs (SSP) worth USD 34 million, to make use of missile tubes of fleet ballistic missile submarines in order to launch missiles, which ranged from conventional cruise missiles to nuclear ballistic missiles.
Regional Insight:
The submarine payload market is spread across the primary regions of South America, Asia Pacific, Europe, the Middle East, and North America.
North America is expected to dominate the global submarine payload market in the near future. Surge in defense budgets and funding of developed countries like the United States (U.S.) and Canada has led the market to greater heights. Apart from this, aggressive procurement of submarines combined with high focus on unmanned underwater vehicles are believed to be important growth-inducing factors in the regional market.
Asia Pacific stands as the second-leading market for submarine payload backed by the rising number of border disputes. The spike in the number of maritime conflicts in the South China Sea as well as Indian Ocean in countries like India, China, Australia, Korea, Japan, Pakistan, Malaysia, Taiwan, Vietnam and Singapore also benefit the regional market to a great extent.
Competitive Scenario:
Industry participants are constantly striving to use technological advancements for developing and launching new generation submarines, which is luring a vast range of customers. Asia Pacific is making huge investments to procure new advanced submarines. Sensing the opportunities, companies from the US are making long term contracts with existing players. Acquisitions is one effective marketing strategy adopted by players in order to seize a substantial market share.
Exemplifying this point is Hyundai Heavy Industries Group, which in In January 2019 entered a deal to merge South Korea’s two most renowned shipbuilders, which helped stimulate Hyundai Heavy Industries Group’s market revenues.
Table of Content:
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS. . .
Continued
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