Undersea warfare systems can be utilized for several purposes such as surveillance, destruction of enemy military forces, and development of undersea defense infrastructure. Undersea warfare systems include use of undersea weapons, communication, and surveillance systems to establish battlespace dominance in the underwater environment.
An increase in instances of political, economic, or social upheaval among countries or regions has led to growing domestic and intercontinental tensions across the world. Governments have been focusing on increasing integration of undersea weapons to defend growing territorial instabilities, which notably contributes toward market growth. Moreover, several undersea warfare systems developers are introducing heavyweight torpedoes capable of tracking and destroying underwater targets, thus fostering the growth of the global market. For instance, in August 2020, Naval Group, a French naval defense and marine renewable energy company, developed a new generation heavyweight torpedo named as “F21.” F21 is a high-performance torpedo capable of neutralizing enemy submarines and surface ships. It was developed to replace the ageing F17 mod2 torpedo in the French Navy. F21 torpedo can be operated in deep waters and near coastal areas with high levels of noise and dense shipping.
The growth of the global undersea warfare systems market is driven by surge in demand for stealth undersea warfare systems, government support for strengthening undersea warfare capabilities, and advent of underwater drones for undersea warfare. In addition, introduction of affordable, lightweight, and efficient undersea warfare systems has strengthened the growth of the market. Integration of technologies such as artificial intelligence and machine learning in undersea warfare systems and an increase in investments by defense organizations across the world further contribute toward the growth of the global market.
However, factors such as operational complexities associated with undersea unmanned systems and high upfront & operational costs of attack submarines act as key deterrents of the global undersea warfare systems market. Conversely, development of lightweight torpedoes and rise in defense spending across the globe are expected to open new avenues for the expansion of the undersea warfare systems market during the forecast period.
For the purpose of analysis, the global undersea warfare systems market scope covers segmentation based on type, mode of operation, application, and region. The report provides particulars about different types such as weapon systems, communication & surveillances, sensors & computation systems, countermeasure systems & payload, and unmanned underwater vehicles. Manned operation, autonomous operation, and remote operations are the various types of mode of operations covered in this study. In addition, it outlines the details about various applications such as combat, C4ISR, and others. Moreover, it analyzes the current market trends of undersea warfare systems across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests future growth opportunities.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the global undersea warfare systems market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall undersea warfare systems market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global undersea warfare systems market with a detailed impact analysis.
- The current undersea warfare systems market is quantitatively analyzed from 2022 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Type
- Communication and Surveillance Systems
- Sensors and Computation Systems
- Countermeasure Systems and Payload
- Unmanned Underwater Vehicles
- Weapon Systems
By Mode of Operation
- Manned Operations
- Autonomous Operations
- Remotely Operations
By Application
- Combat
- C4ISR
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- BAE Systems Plc
- General Dynamics Corporation
- Kongsberg Gruppen
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Saab AB
- Thales Group
Table of Contents
Executive Summary
According to this report titled, 'Undersea Warfare Systems Market,' the undersea warfare systems market was valued at $15.8 billion in 2021, and is estimated to reach $24.8 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.North America is a prominent market for undersea warfare systems, owing to high adoption of advanced weapons among government and military agencies. Furthermore, government and military organizations are investing significantly in the development of advanced undersea weapons, owing to rise in security concerns, which fosters market growth. Moreover, factors such as increased funding to strengthen naval forces, presence of large number of key manufacturers, significant funding for research & development activities, and availability of technologically advanced products such as undersea weapons and communication systems are some of the key contributors to the rapid growth of undersea warfare systems market in this region. In addition, governments and military organizations are awarding contracts to several companies for the development of unmanned underwater vehicles (UUVs), sonar, mine countermeasures, and surveillance solutions, which propels the market growth.
The different mode of operations for undersea warfare systems include manned operations, autonomous operations, and remote operations. The remote operations segment is expected to grow at the highest rate during the forecast period. Remotely operated systems are used for undersea observation, surveillance, mine warfare, and payload delivery. Several companies are developing and testing remote undersea warfare systems to increase operational capabilities. For instance, in March 2022, RE2 Robotics Inc. announced that its maritime mine neutralization system (M2NS) reached 'unprecedented” depth of more than 1 km during open-water demonstration for U.S. Navy’s Office of Naval Research. M2NS is composed of RE2 Sapien Sea Class robot arms mounted onto VideoRay’s Defender inspection-class remotely operated vehicle (ROV). It further utilizes RE2 Detect and RE2 Intellect to enable the precise, autonomous, and clandestine neutralization of a target.
Based on application, the global undersea warfare systems market is segregated into combat, C4ISR, and others. Navies across the globe are upgrading their undersea combat capabilities through numerous contracts from government and military organizations. For instance, in February 2022, the U.S. Navy awarded a59.5 million contract to Lockheed Martin Corporation to provide anti-submarine warfare (ASW) and torpedo systems for surface warships for the U.S. Navy.
The significant factors impacting the growth of the undersea warfare systems market include increase in demand for stealth undersea warfare systems, surge in adoption of underwater drones for undersea warfare, and government support & investments for strengthening undersea warfare capabilities. Moreover, the market growth is affected by high upfront and operational costs of attack submarines, and operational complexities associated with undersea unmanned systems. In addition, increase in initiatives for development of lightweight torpedoes and rise in global defense spending influence the market growth.
COVID-19 Impact Analysis
The COVID-19 crisis has created uncertainty in the undersea warfare systems market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. Governments of different regions have already announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales. The impact of the COVID-19 pandemic has resulted in delayed development of undersea warfare systems and slowdown of trials & demonstration and restrictions in operation of key players.
Governments across the world prioritized the healthcare industry to combat the widespread COVID-19 virus, which adversely affected performance of the defense industry. However, global defense spending reached1.83 trillion in 2020, a 3.9% annual increase. As a proportion of GDP, global spending sharply increased from an average of 1.85% in 2019 to 2.08% in 2020 as military budgets were maintained despite severe economic crisis caused by COVID-19 pandemic and series of lockdowns introduced around the world in response. The pandemic lockdowns were lifted and then re-instated to curb ascendance of the COVID-19 infections as public utilities were gradually opened in major countries such as the UK, India, and Italy.
Shortage of components, subsystems, and electronic systems, owing to regulations associated with import and export of goods have resulted in delayed manufacturing. Development of undersea warfare systems was further impacted by material shortage, owing to manufacturing shutdowns in China, South Korea, and Taiwan. However, post pandemic, the development of undersea warfare systems has been observed. With the relaxation of lockdown measures, vaccination drives, and the consequent opening of markets across the world, the demand for undersea warfare systems is anticipated to grow considerably in the near future.
Key findings of the Study
- By type, the communication and surveillance systems segment is anticipated to exhibit significant growth in the near future.
- By mode of operation, the remote operations segment is anticipated to exhibit significant growth in the near future.
- By application, the C4ISR segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
- Key players operating in the global undersea warfare systems market include BAE Systems Plc., General Dynamic Corporation, Kongsberg Gruppen, L3Harris Technologies Inc., Leonardo S.p.A., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB, and Thales Group.
Companies Mentioned
- BAE Systems Plc
- General Dynamics Corporation
- Kongsberg Gruppen
- L3Harris Technologies, Inc.
- Leonardo S.p.A.
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies Corporation
- Saab AB
- Thales Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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