Submarine Market By Type (Ballistic Missile Submarines (SSBNs), Nuclear-Powered attack submarines (SSNs), Diesel-electric attack submarines (SSKs) and others), By Propulsion (Nuclear, Non Nuclear), By Application (Military surveillance and Combat, Marine Weather Monitoring and Scientific Research, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Submarine are type of ships that can above the water as well as below the water which enhances the capabilities of the defense sector of the countries. Submarines are majorly classified into nuclear and non-nuclear submarines and are majorly used for military operations. However, these types of underwater vehicles also have commercial applications to a certain extent. Primary applications of submarine within the military domain include protecting international waters, perform underwater warfare, provide underwater command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) support.
The primary applications of submarines within the commercial and government domain include marine weather monitoring, scientific research, locating oil basin on seabeds, tourism, and recreational. Submarines have a product life cycle of 25 to 45 years, and heavily depend on maintenance repair and overhaul (MRO) and part upgradation and modification contracts to ensure the sub is in operational condition across its operational lifespan. The ballistic missiles submarines (SSBN) and nuclear power attack submarines (SSN) have nuclear reactor as its fuel core. These types of submarines have more than 30 years of operational lifespan and can stay underwater for longer period as compared to diesel electric submarines, which have operational lifespan of 25 to 30 years.
The submarine market is segmented on the basis of type, propulsion, application, and region. By type, it is further divided into Ballistic Missile Submarines (SSBNs), Nuclear-Powered attack submarines (SSNs), and Diesel-electric attack submarines (SSKs), and others.
By propulsion, the market is bifurcated into nuclear and non-nuclear. By application, the market is segregated into military surveillance & combat, marine weather monitoring & scientific research, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Growth drivers, restraints, and opportunities are explained in the study to better understand the market dynamics. This study further highlights key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The study features strategies adopted by key market players to maintain their foothold in the market.
Companies have adopted product development, collaboration, and long-term agreements as their key development strategies. The key players operating in this market are BAE Systems plc, General Dynamics Corporation, Huntington Ingalls Industries, Inc. , Kawasaki Heavy Industries, Ltd. , Lockheed Martin Corporation, Mitsubishi Heavy Industries, Ltd., Navantia, Thales Group, Thyssenkrupp AG ,and Bollinger shipyards.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global submarine market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall submarine 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 submarine market with a detailed impact analysis.
- The current submarine market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
- Ballistic Missile Submarines (SSBNs)
- Nuclear-Powered attack submarines (SSNs)
- Diesel-electric attack submarines (SSKs) and others
- Non Nuclear
- Military surveillance and Combat
- Marine Weather Monitoring and Scientific Research
- North America
- Rest of Europe
- North Korea
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Key Market Players
- BAE Systems plc
- General Dynamics Corporation
- Huntington Ingalls Industries, Inc.
- Kawasaki Heavy Industries, Ltd.
- Lockheed Martin Corporation
- Mitsubishi Heavy Industries, Ltd.
- Thyssenkrupp AG
- Bollinger Shipyards