Research and Markets: The Global Submarine (SSN, SSBN, and SSK) Market 2014-2024 - Market Size and Drivers

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/t8kzzq/the_global) has announced the addition of the "The Global Submarine Market 2014-2024 - Market Size and Drivers: Market Profile" report to their offering.

This report provides readers with a comprehensive analysis of the Submarine market through 2014-2024, including highlights of the demand drivers and growth stimulators for Submarine. It also provides an insight on the spending pattern and modernization pattern in different regions around the world.

The global submarine market is expected to value US$19 billion in 2014, and increase at a CAGR of 5.19% during the forecast period, to reach US$31.5 billion by 2024.

Key Topics Covered:

1 Introduction

2 Global Submarine market Size and Drivers

Submarine Market Size and Forecast 2014-2024

  • Demand for submarines to grow at a CAGR of 5.19%

Global Submarine Market - Regional Analysis

  • North America leads the global submarine market
  • Submarine expenditure in North America set to experience nominal growth
  • Asia Pacific Submarine market to be the second largest market globally
  • Submarine market in Europe expected to grow at a CAGR of 7.10%
  • Brazil expected to be the highest spender in the submarine sector in Latin America
  • African submarine market to be negligible as large defense spenders have recently completed submarine acquisitions
  • Middle Eastern submarine market to be robust during the forecast period

Submarine Sub-Sector Market Size Composition

  • SSNs are expected to have the largest share of the total submarine market during the forecast period
  • Demand for SSKs expected to fall during the forecast period
  • Market for ballistic missile submarines to record a CAGR of 8.66% during the forecast period

Demand Drivers and Growth Stimulators

  • Robust procurement plans in Asia to drive market growth
  • Replacement of obsolete submarines is expected to drive the demand
  • Maritime security threats fuel the global demand for submarines

Defense Budget Spending Review

  • European capital expenditure expected to increase during the forecast period
  • Asian defense budgets expected to increase at a robust pace
  • North American defense expenditure projected to increase marginally during the forecast period
  • Modernization programs likely to drive defense expenditure in South American countries
  • Military budgets of African countries expected to increase during the forecast period
  • Defense budgets of Middle Eastern countries likely to increase during the forecast period

Defense Modernization Review

  • Financial constraints causing delays in European defense modernization programs
  • Defense budgets of Asian countries likely to be driven by competitive arms acquisitions
  • Global economic slowdown leading to defense budget cuts in the North American region
  • Need to replace aging equipment driving South American defense expenditure
  • Security threats increasing the defense budget of African countries
  • Demand for air defense systems is likely to increase in the Middle East

3 Appendix

For more information visit http://www.researchandmarkets.com/research/t8kzzq/the_global

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Sector: Aerospace and Defence

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Aerospace and Defence