Submarine Market 2024 Trends: Expected to Grow at a CAGR of 4.0% by 2031, Claims Allied Market Research
Submarine Market - the diesel-electric attack submarines (SSKs) types segment garnered the major share of more than two-fifths of the overall market in 2021.
WILMINGTON, DE, UNITED STATES, October 28, 2024 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "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". The report indicates that the global market size for submarine is estimated to garner $33.9 billion by 2031, having generated a share of $23.3 billion in 2021, with a noteworthy CAGR of 4.0% throughout the forecast timeframe of 2022 to 2031.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - https://www.alliedmarketresearch.com/request-sample/11040
Drivers, restraints, and opportunities:
The global submarine market is expanding rapidly due to factors such as expansion of Chinese naval capacities and surge in defense spending allocation toward naval activities. However, the high cost of repair and maintenance hampers market growth to some extent. Nevertheless, rise in geopolitical issues among different nations will provide prolific growth opportunities in the upcoming years.
The diesel-electric attack submarines (SSKs) and others segment to maintain its dominance
In terms of type, the diesel-electric attack submarines (SSKs) and others segment garnered the major share of more than two-fifths of the overall market in 2021. SSK submarines are widely adopting submarines owing to their capabilities. Moreover, the ballistic submarines (SSBNs) segment would cite the fastest growth with 4.4% CAGR from 2022 to 2031. The growth is attributed to improvement of navy capabilities by numerous countries with nuclear power.
The nuclear segment to witness the fastest growth by 2031
In terms of propulsion, the non-nuclear segment garnered the major share of more than half of the overall market revenue in 2021, owing to its latest operations and capabilities. The nuclear segment, on the other hand, is anticipated to portray a noteworthy CAGR of 4.2% from 2022 to 2031. Nuclear submarines are more dynamic as compared to non-nuclear submarines which heightened the demand for nuclear submarines.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ / ๐๐ฑ๐๐๐ฅ ๐ฐ๐ข๐ญ๐ก ๐๐ฎ๐๐ฅ๐ข๐ญ๐๐ญ๐ข๐ฏ๐ ๐๐ง๐ ๐๐ฎ๐จ๐ญ๐๐ญ๐ข๐ฏ๐ ๐๐๐ญ๐, ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ญ๐๐ญ๐ข๐ฌ๐ญ๐ข๐๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) - https://www.alliedmarketresearch.com/submarine-market/purchase-options
The military surveillance and combat segment to maintain its dominance by 2031
Based on application, the military surveillance and combat segment garnered the major share of more than two-thirds of the total market revenue in 2021 and would cite the fastest growth with 4.1% CAGR throughout the forecast timeframe. The growth is attributed to the rising focus on new technologies for combat systems and military surveillance to secure the homeland of the nations based in the ocean area.
APAC grabbed the largest share in 2021
On the basis of regional analysis, the Asia-Pacific region held the highest revenue of nearly two-fifths of the global submarine market. The growth is attributed to a surge in spending on defense across the Asia-Pacific to prevent growing regional disputes and terrorism in nations like, Afghanistan, China, and India. Europe, on the other hand, is projected to portray the largest CAGR of 5.1% from 2022 to 2031. This is due to a rise in the adoption of advanced and latest technologies to counter illegal submarine operations. European countries are progressively incorporating advanced submarines into their defense arsenals to enhance their protection and defense capabilities against the growing instances of submarine activities. This is anticipated to stimulate the demand for submarines across the region.
Leaders in Industry of Submarine Manufactures:
Bollinger Shipyards
Thyssenkrupp AG
Thales
Navantia
Mitsubishi Heavy Industries, Ltd.
Lockheed Martin Corporation
Kawasaki Heavy Industries, Ltd.
Huntington Ingalls Industries, Inc.
General Dynamics Corporation
BAE Systems pl
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/11040
๐๐๐ฒ ๐๐๐ง๐๐๐ข๐ญ๐ฌ ๐
๐จ๐ซ ๐๐ญ๐๐ค๐๐ก๐จ๐ฅ๐๐๐ซ๐ฌ
This study presents an 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 are 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 are quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
Porterโs five forces analysis illustrates the potency of the buyers and suppliers in the industry.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ซ๐จ๐ฌ๐ฉ๐๐๐ ๐๐ง๐ ๐๐๐๐๐ง๐ฌ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐:
๐๐ฉ๐๐๐ ๐๐จ๐ ๐ข๐ฌ๐ญ๐ข๐๐ฌ ๐๐๐ซ๐ค๐๐ญ https://www.alliedmarketresearch.com/space-logistics-market-A47401
๐๐ฏ๐ข๐๐ญ๐ข๐จ๐ง ๐๐ซ๐๐ฐ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐ฒ๐ฌ๐ญ๐๐ฆ ๐๐๐ซ๐ค๐๐ญ https://www.alliedmarketresearch.com/aviation-crew-management-system-market-A177928
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๐ข๐ซ๐๐๐ข๐ ๐ก๐ญ๐ข๐ง๐ ๐๐ซ๐จ๐ง๐ ๐๐๐ซ๐ค๐๐ญ https://www.alliedmarketresearch.com/firefighting-drone-market-A06280
David Correa
Allied Market Research
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