Market Research Report
The Global Submarine and MRO Market 2018-2028
|Published by||GlobalData||Product code||765977|
|Published||Content info||186 Pages
Delivery time: 1-2 business days
|The Global Submarine and MRO Market 2018-2028|
|Published: December 24, 2018||Content info: 186 Pages||
The Global Submarine and MRO market is expected grow at a CAGR of 4.96% till 2028. The cumulative market for global expenditure on submarines and MRO will reach US$340.8 billion over the forecast period. The demand for submarines is expected to be driven by the disputes over offshore territories and maritime boundaries, abetted by the need to exploit the offshore resources including unexplored oil & gas reserves across the world.
The submarine market is split into three segments: SSK-Diesel Electric Submarine, SSN-Nuclear Attack Submarine, and SSBN-Ballistic Missile Submarine. During the forecast period, SSNs are expected to account for the largest share of spending of the overall global market; driven by large scale procurement programs in the US.
The Global Submarine and MRO market is dominated by North America with the US being the largest spender in the sector. Asia Pacific region represents the second largest market, with the total submarine and MRO spending valued at US$111.9 billion over the forecast period. The region will be largely driven by robust economic growth and increased spending on all forms of defense equipment during 2018-2028.
The need to provide naval forces with increased capabilities pertaining to maritime security is expected to spur the submarine market. The threat from neighboring nations and the need long endurance submarines- SSNs is expected to be a major factor that will contribute to the increasing demand for submarine. Furthermore, the large base of existing inventory, as well as new procurements throughout the next decade, will create the need for servicing and maintenance activities, which is anticipated to fuel the submarine and MRO market to a great extent.
"The Global Submarine and MRO Market 2018-2028", report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for submarine, key market trends, and challenges encountered by industry participants.
The report provides an in-depth analysis of the following -