LONDON--(BUSINESS WIRE)--The global submarine sensors market is expected grow at a CAGR of over 3% during the period 2016-2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global submarine sensors market for 2016-2020. The report also presents the market landscape and a corresponding detailed analysis of the six major vendors operating in the market. In addition, it discusses the major drivers that influence the growth of the market and the challenges faced by vendors and the market as a whole. It also examines key emerging trends and their influence on current and future market scenarios.
“The emergence of 3D printing technology and the use of composite materials will allow manufacturers to design enhanced versions of sensor systems for submarines, which will help the naval agencies augment the stealth attributes of submerged platforms,” says Moutushi Saha, a lead defense research expert from Technavio.
Technavio’s aerospace and defense research analysts segment the global submarine sensors market into the following regions:
APAC is anticipated to record the highest share of over 38% during the forecast period. China, India, Japan, Australia, and South Korea are the major countries making extensive investments in submarine sensors in the region. EMEA had a market share of more than 34% while the Americas had a market share of more than 27% during 2015.
APAC: enhancement of the undersea capabilities to boost growth
During the forecast period, APAC is estimated to experience high growth in the demand for submarine sensors, which is primarily driven by the enhancement of the undersea capabilities in countries like China, India, and Australia.
The submarine sensor market will be bolstered by the procurement of new and advanced submarines that can enhance the undersea warfare capabilities of regional naval forces. The territorial disputes over the South China Sea are increasing maritime conflicts and have encouraged neighboring countries to enhance their naval capabilities to enforce their sovereignty and jurisdiction claims. Freedom of free navigation has emerged as one of the biggest issues between the US and China, where the conflict is growing over the right of the US Navy’s vessels to operate in the 200 nautical miles of China's exclusive economic zone (EEZ). This has been the prime driving factor for China to modernize its naval capabilities to deny the US Navy access to the Western Pacific region.
Such strengthening of Chinese naval capabilities has impelled other countries in the region such as India, Korea and Malaysia to upgrade their undersea combat capabilities. These developments are expected to create significant opportunities for both regional and global naval technology providers to offer advanced submarine sensor systems in APAC during the forecast period.
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EMEA: increasing tensions in the region encourage countries to procure and upgrade undersea platforms
Owing to the economic crisis in Europe (since the end of 2009), many countries like the UK, Germany, and France have undergone cuts in defense expenditure and have subsequently downsized their naval procurement programs. However, the prolonged crisis in Ukraine since 2013 and the enhancement of Russian military build-up have put other European countries on high alert.
Therefore, European countries, despite economic woes, have been compelled to maintain their naval strength and modernize their existing undersea platforms, including submarines and auxiliary systems. For example, in 2013, BAE Systems received a contract worth USD 136 million from the UK MoD to commence the preliminary design phase of the Successor-class nuclear-powered submarines. These submarines are expected to replace the Royal Navy’s aging fleet of Vanguard-class submarines by 2028. Similarly, in December 2015, the Israeli Navy received its fifth Dolphin-class submarine, which was built in Germany.
Similarly the increasing tensions in the Middle East, are encouraging developing countries in the region towards becoming active markets for submarines and related equipment. In December 2015, Germany delivered the first of four attack submarines to the Egyptian Navy. Similarly, Morocco, Saudi Arabia, and UAE, perceiving a threat in the region expressed their interest to procure submarines.
Americas: US is the single largest user of submarines in the region, but other countries following suit
Over the last five decades, the US has been the single largest user of submarines in the region. Many of the development programs in submarine technology were co-founded by the US DoD and US-based private defense technology providers. The evolution of high channel-count fiber optic towed arrays can be noted as one such example where the navigation system division of Northrop Grumman and US Navy collaborated for over 15 years. The US Navy has provided several contracts over the last three years both for the construction of new submarines, as well as for the maintenance and upgrading of electronics and sensors systems of existing fleets.
“Although the US stands as the major country in the region, other countries like Brazil, Argentina, and Canada are also augmenting the capabilities of their combat submarines,” says Moutushi.
The top vendors in the global submarine sensors market highlighted in the report are:
- ATLAS ELEKTRONIK
- Lockheed Martin
- Northrop Grumman
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