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Submarine Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4534297
  • Report
  • April 2020
  • Region: Global
  • 102 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • ASC PTY LTD
  • BAE Systems plc
  • FINCANTIERI SpA
  • Hyundai Heavy Industries
  • Naval Group
  • Navantia
  • MORE
The Submarine Market is expected to register a CAGR of over 4% during the forecast period.

The growing emphasis of many countries toward modernizing their naval defense units, like submarines, surface-mine countermeasure, unmanned underwater vehicles, and other combat and tactical UUVs, is expected to drive the submarine market in the years to come.

The increasing maritime threats, like sea-based terrorism and other illegal activities, pose a challenge to the militaries. In order to counter these, submarines are used for surveillance and under-sea attack purposes.

Growing emphasis on the indigenous production of advanced submarines by various countries is opening new avenues for the market.

Key Market Trends

SSN Segment is Expected to Register the Highest CAGR During the Forecast Period

Currently, the SSN segment has the highest market share out of all the segments. The advantages offered by these submarines compared to the other types, like being faster, more efficient, and having longer endurance capabilities are the main reason behind the militaries going for these submarines. In addition, SSN submarines do not have to dive to surface periodically for air, which preserves their stealth attribute. Due to these advantages and their better warfare capabilities, the SSN segment is also projected to register the highest CAGR during the forecast period.

North America is Expected to Dominate the Market During the Forecast Period

In 2018, North America dominated the submarine market. Factors, like the high military spending of the United States and the aggressive procurement of submarines, coupled with the increased focus on unmanned underwater vehicles, are the main drivers for the high share of the region. Additionally, the revenues from North America are projected to register the highest CAGR during the forecast period. Development of advanced submarines and the focus of the United States on procuring next-generation submarines are the main reasons for the high anticipated growth of the market in the region. Moreover, increasing focus on the Virginia-class submarines that are being built by the US, may contribute to the strong growth of the market in the region in the years to come.

Competitive Landscape

Huntington Ingalls Industries, BAE Systems plc, Daewoo Shipbuilding & Marine Engineering, General Dynamics Corporation, and Hyundai Heavy Industries are some of the prominent players in the market. Players in the market are trying to make use of the technological advancements to develop and launch new generation submarines, thereby attracting a larger range of customers. Countries in Asia-Pacific are investing huge amounts for procuring new submarines. Players can shift their focus on these countries from countries, like the US, which have already made long term contracts with the existing players. Acquisitions of other players can also help the existing players gain a huge market share. In January 2019, Hyundai Heavy Industries Group signed a deal to consolidate two of South Korea's biggest shipbuilders, thereby helping Hyundai Heavy Industries Group to increase its market revenues.

Reasons to Purchase this report:
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ASC PTY LTD
  • BAE Systems plc
  • FINCANTIERI SpA
  • Hyundai Heavy Industries
  • Naval Group
  • Navantia
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Category
5.1.1 SSN
5.1.2 SSBN
5.1.3 SSK
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 Latin America
5.2.4.1 Brazil
5.2.4.2 Mexico
5.2.4.3 Rest of Latin America
5.2.5 Middle-East and Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 Egypt
5.2.5.4 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Navantia
6.2.2 Naval Group
6.2.3 FINCANTIERI SpA
6.2.4 Huntington Ingalls Industries
6.2.5 Hyundai Heavy Industries
6.2.6 General Dynamics Electric Boat
6.2.7 BAE Systems plc
6.2.8 Daewoo Shipbuilding & Marine Engineering
6.2.9 Saab AB
6.2.10 ThyssenKrupp Marine Systems
6.2.11 United Shipbuilding Corporation
6.2.12 ASC PTY LTD

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Navantia
  • Naval Group
  • FINCANTIERI SpA
  • Huntington Ingalls Industries
  • Hyundai Heavy Industries
  • General Dynamics Electric Boat
  • BAE Systems plc
  • Daewoo Shipbuilding & Marine Engineering
  • Saab AB
  • ThyssenKrupp Marine Systems
  • United Shipbuilding Corporation
  • ASC PTY LTD
Note: Product cover images may vary from those shown
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