Submarine Market By Size, Growth, Trends and Forecast 2019-2029

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 24.31 Billion
CAGR (2024-2029)	5.34%
Fastest Growing Segment	Commercial
Largest Market	North America
Market Size (2029)	USD 33.39 Billion

Market Overview

Global Submarine Market was valued at USD 24.31 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.34%. The demand of submarines has risen significantly due to increased political instabilities and the necessity for improved naval force. Currently, the countries of the world are actively developing their fleets and paying special attention to the procurement of nuclear and conventional submarines. This is mainly due to the technological innovations that are being put in to practice like the new versions of submarines that have low acoustic signature, better sonar systems, and newer modes of propulsion. Furthermore, the incorporation of more advanced technologies such as autonomous underwater vehicles (AUVs) and the creation of multipurpose submarines that are capable of functioning in different underwater terrains have also supplemented the growth of the market.

The most important trend in the development of the submarine industry is the focus on the protection of maritime interests. The increase in the number of territorial conflicts and the maritime threats has seen a boost in the investment towards the submarine forces to boost the underwater defense systems. In addition, the developments in submarines include battery technology, hull, and the kind of sonar systems that make submarines to be operational and be more secretive in their operations. The increasing need for submarines in ASW and ISR operations are other promising trends for the market participants. Also, the increase in the number of submarine fleets owned by emerging economies as a result of their desire to protect their interests in the maritime and seek resources on the sea bed will further boost the market in the future years.

However, there are some issues that affect the growth of the submarine market as explained below. Submarine construction and operation costs are high plus there are numerous regulatory requirements that act as entry barriers. Also, the technology used in submarine is highly developed thus demanding huge investment in research and development which may act as a barrier for small players in the market. However, current trends like the use of unmanned underwater systems and more so use of sophisticated material in building submarines will help to offset some of these challenges. Another emerging trend in the market is the use of modularity in the construction of submarines as this makes it easier to upgrade and maintain the equipment. In addition, cooperation between defense contractors and technology companies is putting pressure on the evolution of submarine technology since it creates a basis for the creation of the subsequent generation of submarines with the improved performance and lower costs.

Key Market Drivers

Maritime security and surveillance has gained much attention in the last decade.

The increasing geopolitical rivalry and maritime boundaries issues have made it essential to improve the maritime security and monitoring systems. This has created massive spending in modern sophisticated submarines to protect national security and territorial integrity. For example, in the year 2023 the United States Navy persisted in the development of Virginia-class submarines that incorporate stealth and sonar technology to improve surveillance and reconnaissance functions. Likewise, the Chinese submarine building program in 2024 where the People’s Republic of China commissioned more modern Type 093B Shang-class nuclear-powered attack submarines also highlights the significance of submarines in the preservation of the seas’ security. Such investments depict the increased importance of submarines in the contemporary naval forces, thus fueling the market.

New Technological Developments In Conception And Power Systems of Submarines

Major factors include technological innovations in submarine construction and power mechanisms. New technologies like efficient hull shapes, better sonars, and the use of lithium-ion batteries have highly increased the effectiveness and the stealthiness of submarines. For instance, in 2023, General Dynamics Electric Boat came up with a new class of submarines armed with enhanced propulsion systems and lithium-ion batteries that enable a longer operational distance without having to surface frequently. These advancements enhance the use of submarines in particular missions such as stealth and long endurance hence giving a boost to their use. Also, the developments in material sciences like application of high strength lightweight composites are enhancing the performance and the life of the submarines that are fuelling the market growth.

Increasing the Need for ASW and ISR Capabilities

The rising demand of anti-submarine warfare (ASW) and intelligence, surveillance, and reconnaissance (ISR) is a major factor for the submarine market. Modern submarines which are fitted with latest sonars and electronic warfare suites are necessary for identification as well as defeating underwater threats. In 2024, the Royal Navy said that it will be purchasing modern Astute-class submarines that are mainly for ASW and ISR operations to enhance the United Kingdom’s underwater defense system. The increasing submarine fleets of such countries as India and Brazil to protect their underwater resources and interests also spur the market. All these developments point out the role of submarines in the modern naval forces that supports the market growth.

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Key Market Challenges

Expenses on Development and Maintenance of such Applications

The construction of submarines and their operation is very expensive, which becomes a problem for many countries. The building of modern submarines requires large amounts of money in terms of material and equipment and a highly qualified workforce. For example, the price of a new nuclear-powered submarine can be counted in billions of dollars. The United Kingdom in 2023 experienced budget issues when under0taking the Dreadnought-class submarine project to show the fiscal aspect of such projects. Also, the maintenance and operational costs of submarines are also relatively high and it demands a regular and consistent inflow of funds for its functioning and refurbishment. Such financial obligations may cut the potential of some countries to increase or even update their subs fleets.

Technological issues and integration challenges

One of the major issues is the implementation of modern technologies into the equipment of submarines. Modern submarines are complex vehicles that need efficient propulsion systems, navigation and communication devices, and weapons. However, these technologies are complex and therefore may cause integration problems and technical hitches. For instance, the Indian Navy in 2024 faced problems with the delivery of Scorpene-class submarines, which was due to integration issues of sophisticated combat systems. Achieving proper integration and stable functionality of these technologies requires thorough and efficient testing, proper engineering, and constant development. The eradications of these technological challenges are crucial in ensuring the continued operational preparedness and efficiency of the submarines.

Regulatory and Environmental Concerns

The market for submarines is governed by strict rules and regulations and environmental issues. Construction and use of submarines have to meet the international standards and conventions like the NPT and UNCLOS. These regulations include areas like nuclear propulsion, underwater signal and communication, and use of weapons launched from submarines. Also, the political issues such as nuclear waste disposal and the effects of submarine activities on the marine life are issues. For instance, in 2023, various green organisations expressed their concerns on the dumping of retired nuclear submarines in the Arctic. Solving these problems in the sphere of regulation and environment is essential for the further development of the submarine market.

Key Market Trends

Increasing Adoption of Unmanned Underwater Vehicles (UUVs)

The adoption of Unmanned Underwater Vehicles (UUVs) is a growing trend in the submarine market. UUVs are being integrated into naval operations for surveillance, reconnaissance, and mine detection. These autonomous systems offer enhanced operational flexibility and reduce the risk to human life. In 2023, the U.S. Navy launched several UUV programs aimed at expanding its underwater capabilities. Companies like Boeing and Lockheed Martin are developing advanced UUVs equipped with sophisticated sensors and communication systems. The increasing deployment of UUVs is transforming naval strategies and complementing traditional submarine operations.

Emphasis on Stealth and Acoustic Superiority

Stealth and acoustic superiority are becoming paramount in submarine design and operations. Advances in stealth technologies, such as anechoic coatings and noise-reduction techniques, are enhancing the stealth capabilities of submarines. In 2024, Russia introduced a new class of stealth submarines designed to minimize acoustic signatures and evade detection. Similarly, Western countries are investing in research and development to achieve acoustic superiority. The focus on stealth is driven by the need to counter increasingly sophisticated anti-submarine warfare (ASW) technologies and ensure the survivability of submarines in contested waters.

Collaboration and Joint Ventures

Collaboration and joint ventures between defense companies and naval forces are on the rise, driving innovation and efficiency in the submarine market. Countries are partnering with leading defense contractors to leverage expertise and share the financial burden of submarine development. For instance, in 2023, France and Australia announced a collaboration to develop a new fleet of submarines under the AUKUS alliance. This partnership aims to enhance the technological capabilities and operational readiness of both nations' submarine forces.

Segmental Insights

Platform Type Analysis

The submarine market is characterized by its division into two primary platform types: The two are commercial and military. Thus, each platform type is useful for different tasks, as the needs and expectations of the industries they operate in differ. The commercial sub-sectors are mainly based on scientific research, underwater tourism, and offshore exploration. Due to technology, new types of submarines have been produced and which can dive deeper in the water and also have better safety and comfort features for passengers. Submarine for scientific research is designed with the most advanced scientific instruments for oceanographic exploration, marine biology, and geological surveys that are extremely important in the discovery of more information about the seas and the underwater geology. Despite being in its early stages, underwater tourism is slowly growing as more and more people look for the next big thing in tourism and are willing to take risks to get to the next level of tourism, literally. These submarines are intended to give live and beautiful view of the sea and its creatures and the bottom of the sea.

On the flip side, the military submarine segment is stimulated by the strategic and defense requirements of different countries. Military submarines are essential factors of naval forces and state security systems as they provide opportunities for covert actions, reconnaissance, and long-range threats. These submarines are fitted with the latest sonar systems, torpedo and missile launching facilities, which allow these submarines to launch surprise attacks and perform various functions, including espionage and attack. Since, the focus has always been on the factors like stealth, endurance and operational range underwater, there has been constant advancements in the submarine technology. For example, the nuclear-powered submarines have greater duration power without the need to refuel, thus being an important factor in duration power.

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Regional Insights

The market of submarines is segmented by geographical regions, which are rather unique in terms of trends and drivers. In North America, the market is mainly governed by the defense policies and the technological developments.

The region’s emphasis on the need to retain a powerful navy has resulted to significant spending in the acquisition of new submarine and the upgrading of existing ones. The main focus of its research and development activities in the region is stealth, longer ranges, and better weaponry. Also, North America’s participation in international maritime security and cooperative defense has driven the need for modern versatile submarines for surveillance and strategic deterrence.

European and CIS countries’ submarine market is a mix of both commercial and military uses. European countries use submarines in their defense and also for other research activities hence promoting the safety and wellbeing of citizens as well as the discovery of new things in the seas. The CIS countries are aware of the necessity of military submarines for their national security and regional power due to large coastal areas of the countries. This region is concerned with the improvement of the existing ones and the production of new submarine classes with better characteristics. Interstate cooperation between European countries and within the CIS contributes to the development of new ideas and the launch of new projects in the sphere of submarine procurement, as well as increasing technological and preparedness levels.

The Asia Pacific area presents a liberal and evolving submarine market that is driven by the commercial and military functions. The countries in this region use submarines for defense reasons because of security challenges and ownership of territories. The market is defined by attempts at strengthening naval forces, such as the purchase of modern submarines and the creation of their national analogues. Also, the Asia Pacific region is gradually developing the commercial submarine uses like the underwater tourism and deep sea exploration. These two capabilities of defense and commercial applications create a healthy market with a lot of technological development and potential for expansion.

Submarine market of South America reflects the defense necessity and regional maritime factors. This region’s countries focus on the contemporary development of the naval forces to safeguard the long shorelines and valuable marine assets. Submarine-related investments are targeted on improving the monitoring, identification, and protection systems. It also looks into the international relations and defense diplomacy for cooperation and development of more sophisticated submarines. Thus, the main market driver is military requirements, although there is a possibility of expanding the range of civil uses in underwater research and drilling.

In the Middle East and Africa, the market for submarines is dictated by the political relations and military policies. The nations in this region use submarines to boost the naval security and safeguard significant stakes like sea-lanes and hydrocarbon resources. The market is described by attempts to obtain and develop sophisticated submarines with relevant characteristics for regional protection. Also, there is concern with cooperative defense projects and technology sharing, which aids in the improvement and growth of the submarine forces. The area’s emphasis on the development of naval power gives the key role to submarines as a guarantee of security and stability.

Recent Developments

December 2022: The Indian Navy received "Vagir," the fifth Scorpene-class (Kalvari-class) submarine, from constructor Mazagon Dock Limited (MDL).
December 2022: A nuclear-powered submarine and multiple additional warships were sent into service under President Vladimir Putin's direction. The Russian Navy is getting stronger as new submarines are put into service. A corvette, a minesweeper, and a nuclear-powered submarine capable of firing ballistic missiles were among the recently commissioned ships.
The UK Royal Navy placed an order for its first crewless submarine in December 2022, helping to define the direction of underwater combat. The new crewless submarine, named Cetus, will glide silently across the waters, keeping an eye out for hostile activities and keeping an ear out for any ships or submarines that could pose a threat to the fleet or vital national infrastructure, including deep-sea cables.

Key Market Players

Navantia S.A. SM. E
Naval Group
FINCANTIERIS.p.A.
Huntington Ingalls Industries, Inc.
Hyundai Heavy Industries Co., Ltd
General Dynamics Corporation
BAE Systems plc
Hanwha Ocean Co., Ltd
Saab AB
thyssenkrupp AG

By Type	By Platform Type	By Region
Nuclear-Powered Submarines (SSNs) Ballistic Missile Submarines (SSBNs) Guided-Missile Nuclear Submarines (SSGNs) Diesel-Electric Submarines (SSKs)	Commercial Military	North America Europe & CIS Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Submarine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Submarine Market, By Type:

o Nuclear-Powered Submarines (SSNs)

o Ballistic Missile Submarines (SSBNs)

o Guided-Missile Nuclear Submarines (SSGNs)

o Diesel-Electric Submarines (SSKs)

Submarine Market, By Platform Type:

o Commercial

o Military

Submarine Market, By Region:

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ South Korea

§ Australia

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o North America

§ United States

§ Canada

§ Mexico

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Turkey

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Submarine Market.

Available Customizations:

Global Submarine market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Submarine Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Submarine Market

5. Global Submarine Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Nuclear-Powered Submarines (SSNs), Ballistic Missile Submarines (SSBNs), Guided-Missile Nuclear Submarines (SSGNs), and Diesel-Electric Submarines (SSKs))

5.2.2. By Platform Type Market Share Analysis (Commercial, Military)

5.2.3. By Regional Market Share Analysis

5.2.3.1. Asia-Pacific Market Share Analysis

5.2.3.2. Europe & CIS Market Share Analysis

5.2.3.3. North America Market Share Analysis

5.2.3.4. South America Market Share Analysis

5.2.3.5. Middle East & Africa Market Share Analysis

5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3. Global Submarine Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Platform Type Market Mapping & Opportunity Assessment

5.3.3. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Submarine Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Platform Type Market Share Analysis

6.2.3. By Country Market Share Analysis

6.2.3.1. China Market Share Analysis

6.2.3.2. India Market Share Analysis

6.2.3.3. Japan Market Share Analysis

6.2.3.4. Indonesia Market Share Analysis

6.2.3.5. Thailand Market Share Analysis

6.2.3.6. South Korea Market Share Analysis

6.2.3.7. Australia Market Share Analysis

6.2.3.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Co untry Analysis

6.3.1. China Submarine Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type Market Share Analysis

6.3.1.2.2. By Platform Type Market Share Analysis

6.3.2. India Submarine Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type Market Share Analysis

6.3.2.2.2. By Platform Type Market Share Analysis

6.3.3. Japan Submarine Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type Market Share Analysis

6.3.3.2.2. By Platform Type Market Share Analysis

6.3.4. Indonesia Submarine Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Type Market Share Analysis

6.3.4.2.2. By Platform Type Market Share Analysis

6.3.5. Thailand Submarine Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Type Market Share Analysis

6.3.5.2.2. By Platform Type Market Share Analysis

6.3.6. South Korea Submarine Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Type Market Share Analysis

6.3.6.2.2. By Platform Type Market Share Analysis

6.3.7. Australia Submarine Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Type Market Share Analysis

6.3.7.2.2. By Platform Type Market Share Analysis

7. Europe & CIS Submarine Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Platform Type Market Share Analysis

7.2.3. By Country Market Share Analysis

7.2.3.1. Germany Market Share Analysis

7.2.3.2. Spain Market Share Analysis

7.2.3.3. France Market Share Analysis

7.2.3.4. Russia Market Share Analysis

7.2.3.5. Italy Market Share Analysis

7.2.3.6. United Kingdom Market Share Analysis

7.2.3.7. Belgium Market Share Analysis

7.2.3.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany Submarine Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type Market Share Analysis

7.3.1.2.2. By Platform Type Market Share Analysis

7.3.2. Spain Submarine Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type Market Share Analysis

7.3.2.2.2. By Platform Type Market Share Analysis

7.3.3. France Submarine Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type Market Share Analysis

7.3.3.2.2. By Platform Type Market Share Analysis

7.3.4. Russia Submarine Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type Market Share Analysis

7.3.4.2.2. By Platform Type Market Share Analysis

7.3.5. Italy Submarine Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type Market Share Analysis

7.3.5.2.2. By Platform Type Market Share Analysis

7.3.6. United Kingdom Submarine Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Type Market Share Analysis

7.3.6.2.2. By Platform Type Market Share Analysis

7.3.7. Belgium Submarine Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Type Market Share Analysis

7.3.7.2.2. By Platform Type Market Share Analysis

8. North America Submarine Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Platform Type Market Share Analysis

8.2.3. By Country Market Share Analysis

8.2.3.1. United States Market Share Analysis

8.2.3.2. Mexico Market Share Analysis

8.2.3.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States Submarine Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type Market Share Analysis

8.3.1.2.2. By Platform Type Market Share Analysis

8.3.2. Mexico Submarine Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type Market Share Analysis

8.3.2.2.2. By Platform Type Market Share Analysis

8.3.3. Canada Submarine Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type Market Share Analysis

8.3.3.2.2. By Platform Type Market Share Analysis

9. South America Submarine Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Platform Type Market Share Analysis

9.2.3. By Country Market Share Analysis

9.2.3.1. Brazil Market Share Analysis

9.2.3.2. Argentina Market Share Analysis

9.2.3.3. Colombia Market Share Analysis

9.2.3.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Submarine Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type Market Share Analysis

9.3.1.2.2. By Platform Type Market Share Analysis

9.3.2. Colombia Submarine Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type Market Share Analysis

9.3.2.2.2. By Platform Type Market Share Analysis

9.3.3. Argentina Submarine Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type Market Share Analysis

9.3.3.2.2. By Platform Type Market Share Analysis

10. Middle East & Africa Submarine Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Platform Type Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1. South Africa Market Share Analysis

10.2.3.2. Turkey Market Share Analysis

10.2.3.3. Saudi Arabia Market Share Analysis

10.2.3.4. UAE Market Share Analysis

10.2.3.5. Rest of Middle East & Africa Market Share Analysis

10.3. Middle East & Africa: Country Analysis

10.3.1. South Africa Submarine Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type Market Share Analysis

10.3.1.2.2. By Platform Type Market Share Analysis

10.3.2. Turkey Submarine Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type Market Share Analysis

10.3.2.2.2. By Platform Type Market Share Analysis

10.3.3. Saudi Arabia Submarine Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type Market Share Analysis

10.3.3.2.2. By Platform Type Market Share Analysis

10.3.4. UAE Submarine Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Type Market Share Analysis

10.3.4.2.2. By Platform Type Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. Navantia S.A. SM. E

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Naval Group

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. FINCANTIERIS.p.A..

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. Huntington Ingalls Industries, Inc

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. Hyundai Heavy Industries Co., Ltd

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. General Dynamics Corporation

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. BAE Systems plc

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Hanwha Ocean Co., Ltd

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Saab AB

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. thyssenkrupp AG

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Type

15.1.3. Target Platform Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Submarine Market in 2023?

The market size of the Global Submarine Market was estimated to be USD 24.31 billion in 2023.

Which was the dominant segment By Type in the Global Submarine Market in 2023?

For submarine revenue in 2023, the nuclear-powered submarine segment accounted for dominating share of the market. Sustained high speed (over 20 knots, or 37 km/h) is the primary advantage of nuclear submarines over conventional ones. As a result, compared to conventional vessels, the nuclear submarine can move between areas considerably faster.

Which is the dominant region in the Global Submarine Market?

The North American submarine market holds dominating share in the market. The United States spends the most on its military of any country in the world. In response to China's and Russia's increasing threat, the US Department of Defense is attempting to bolster its naval capabilities by introducing new surface ships and submarines.

What are the major drivers for the Global Submarine Market?

Technological Advancements and Innovation, Maritime Trade and Economic Interests, and Export and International Collaboration are the major drivers for the Global Submarine Market.

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Srishti Verma

Business Consultant

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Press Release

Submarine Market to Grow with a CAGR of 5.34% Globally through to 2029

Dec, 2023

Technological Advancements and Innovation, Maritime Trade and Economic Interests, and Export and International Collaboration are factors driving the Global Submarine market in the forecast period 202

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