The Submarine Combat Systems Market is estimated to be valued at USD 4.97 Billion in 2016 and is projected to reach USD 11.67 Billion by 2022, at a CAGR of 15.3%. This report covers the forecast of the market and its dynamics over the next six years, while also recognizing market application gaps, and recent developments in the market. Submarine combat systems are a system of systems such as sensors, electronic support measures, and armaments.

Market size estimations for various segments and subsegments of the submarine combat systems market were arrived at through extensive secondary research from government sources, company websites, defense websites, corporate filings such as annual reports, Bloomberg, Factiva, International Maritime Organization (IMO), investor presentations, and financial statements, and trade, business, and professional associations, among others. orroboration with primaries and further market triangulation with the help of statistical techniques using econometric tools was carried out. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets, and presented in this report.

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The ecosystem of the submarine combat systems market comprises manufacturers, distributors, and end-users. The key end-user of the market is the defense sector. Key manufacturers in the market are, Lockheed Martin Corporation (U.S.), SAAB AB (Sweden), Kongsberg Gruppen ASA (Norway), General Dynamics Corporation (U.S.), Atlas Elektronik GmbH (Germany), BAE Systems PLC (U.K.), and Raytheon Company (U.S.) among others.

�This study answers several questions for stakeholders, primarily, which segments they need to focus upon over the next six years to prioritize their efforts and investments.�

Target Audience

Original Equipment Manufacturers (OEMs)

Regulatory Bodies

Component Suppliers

Military

Technology Providers

Distributors

Scope of the Report

This research report categorizes the market into the following segments and subsegments:

Submarine Combat Systems Market, By System Sensors Electronic Support Measures (ESM) Armaments

Submarine Combat Systems Market, By Submarine Type Ship Submersible Hunter Killer (SSK) Ship Submersible Nuclear (SSN) Ship Submersible Ballistic Nuclear (SSBN)

Submarine Combat Systems Market, By Retrofit North America Europe Asia-Pacific Rest of the World (RoW)

Submarine Combat Systems Market, By Region North America Europe Asia-Pacific Rest of the World (RoW)



Customizations available for the report

With the given market data, MarketsandMarkets offers customizations as per the specific needs of a company. The following customization options are available for the report:

Country-level Analysis Comprehensive market projections for countries categorized under Rest of Europe, Rest of Asia-Pacific, and Rest of the World

Company Information Detailed analysis and profiles of additional market players (upto five)



The Submarine Combat Systems Market is estimated to be valued at USD 4.97 Billion in 2016 and reach USD 11.67 Billion in 2022, at a CAGR of 15.3%. The growth in the Asia-Pacific and European regions is attributed to the acquisitions of new submarines and submarine upgradation programs in some countries. The increasing focus on maritime security and submarine upgradation programs are the major drivers in the submarine combat systems market.

Based on systems, submarine combat systems market are classified into sensors, electronic support measures, and armaments. The armament systems segment is expected to growth at highest rate. The increase in new submarine orders along with the replacement of obsolete armaments are expected to drive this market. Electronic support measures are an essential part of submarine combat systems to increase the survivability and stealth features of submarines and hence this segment is expected to witness growth during the forecast period.

Submarine combat systems market by submarine types, include, Ship Submersible Hunter Killer (SSK), Ship Submersible Nuclear (SSN), and Ship Submersible Ballistic Nuclear (SSBN). By operation, SSK submarines are the largest in number in operation around the world. The other types of submarines are limited to a few countries that have the technologies to design the SSN and SSBN submarines. The U.S., the U.K., France, Russia, and China are operators of SSN and SSBN submarines.

Retrofit of submarines is a potential market for submarine combat systems manufacturers. The procurement of new submarines is capital intensive, along with the lengthy periods required for their induction. Mid-life upgrades are a cost-effective and time efficient way for navies, and enable them to utilize submarines for their full life cycle. The North American and European regions are lucrative retrofit markets for submarine combat systems.

The Asia-Pacific region is estimated to have accounted for the largest share of the submarine combat systems market in 2016, followed by Europe and North America. Recent geopolitical developments such as, the South China Sea dispute between China and its neighboring countries such as, Taiwan, Brunei, Malaysia, Philippines, and Vietnam over Spratly and Paracel islands is a major factor in the high investments in naval assets. In Europe, Russia�s growing maritime assertiveness is likely to drive the demand for submarine combat systems. These factors have indirectly fueled the growth of the market.

The growth of the submarine combat systems market could, however, be affected by certain major restraints in the coming years. These factors include, declining defense budgets of the developed economies of the world, such as, the U.S., Canada, the U.K., Germany, and stringent arms transfer rules and regulations laid down for the defense industry. The major challenge for system manufacturers is the high integration and maintenance costs.

Key players operating in the submarine combat systems market are, Lockheed Martin Corporation (U.S.), SAAB AB (Sweden), Kongsberg Gruppen ASA (Norway), General Dynamics Corporation (U.S.), Atlas Elektronik GmbH (Germany). Contracts and partnerships are the major growth strategies adopted by the top players to strengthen their positions in the market.

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