Market Research Report
Global Undersea Warfare Systems Market: Focus on Weapons and Countermeasures, Sensors and Sonars, Unmanned Underwater System, Communication System and Airborne Detection System - Analysis and Forecast, 2019-2024
|Published by||BIS Research Inc.||Product code||614810|
|Published||Content info||238 Pages
Delivery time: 1-2 business days
|Global Undersea Warfare Systems Market: Focus on Weapons and Countermeasures, Sensors and Sonars, Unmanned Underwater System, Communication System and Airborne Detection System - Analysis and Forecast, 2019-2024|
|Published: July 17, 2019||Content info: 238 Pages||
"Global Undersea Warfare Systems Market Anticipated to Reach $14.61 Billion by 2024", Reports BIS Research.
The Undersea Warfare Systems Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 6.92% during the forecast period of 2019 to 2024. North America is the most prominent region for the growth of the undersea warfare systems market with the U.S. acquiring the highest market share in 2019. Major European countries such as the U.K., Germany, France, Spain, and Italy, are the most prominent countries after North America for growth of the undersea warfare systems market.
The global undersea warfare systems market has gained widespread significance in naval applications including anti-submarine warfare, mine countermeasures, and anti-torpedo activities, among others. Undersea warfare systems manufacturers have received multiple contracts from various naval forces for the development of undersea warfare systems. The ongoing development activities and increasing threats from underwater weapon systems are likely to propel the demand for undersea warfare systems during the forecast period, 2019-2024.
"Asia-Pacific (APAC) undersea warfare systems market is expected to witness the fastest growth throughout the forecast period. The increase in the demand for undersea warfare systems in Asia-Pacific is due to the rising tensions between the neighboring countries and increase in defense spending. According to the analysis, China, Japan, South Korea, and India are majorly contributing to the growth of the market in the Asia-Pacific region. Europe and Asia-Pacific are the prominent regions for the development of undersea warfare systems market. Moreover, owing to a less number of manufacturing companies in the Asia-Pacific region, there is a vast scope of opportunities for both new and already established market players."
The undersea warfare systems market research provides detailed market information for undersea warfare systems and covers global industry outlook, and futuristic outlook for undersea warfare systems The purpose of this market analysis is to examine the undersea warfare systems market outlook in terms of factors driving the market, trends, technological developments, and funding scenario, among others.
The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The undersea warfare systems market report is a compilation of different segments including market breakdown by system type and region.
The undersea warfare systems market (on the basis of system type) is further segmented into weapons and countermeasures, sensors and sonars, communication systems, unmanned systems, and airborne detection systems. The weapons and countermeasures market acquired the highest market share in 2018 and is expected to maintain its leading position during the forecast period, 2019-2024. Furthermore, the weapons and countermeasures market is expected to acquire ~36.54% of the global undersea warfare systems market by 2024. The highest procurement of weapons and countermeasure systems is influenced by the need for protecting the country from growing undersea threats.
The undersea warfare systems market is segregated by region under four major geographies, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is also provided.
The key market players in the global undersea warfare systems market include Raytheon Inc., BAE Systems, Northrop Grumman, SAAB, Harris Corporation, Kongsberg Gruppen, Saab AB, Thales Group, Boeing, Atlas Electronik GmbH, ECA Group, General Dynamics and Ultra Electronics, among others.