The demand for submarines is expected to be driven by the need for control over the offshore natural resources and maritime trade routes, which are expected to play a pivotal role in fulfilling a country’s aspiration for supremacy.
Major naval forces are staring at fleets of technically obsolete and aging submarines, demanding huge investments in the procurement of new-age submarines. In addition to having an important nuclear deterrent role, submarines are playing more crucial roles such as surveillance and reconnaissance, intelligence gathering, patrolling and securing the maritime borders, and trade routes.
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The Global Submarines and MRO Market 2017-2027 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 submarines, key market trends, and challenges faced by industry participants.
– Global Submarines and MRO Market is projected to register a CAGR of 4.36% over 2017-2027
– In terms of categories, the SSN-Nuclear Attack Submarine segment is anticipated to account for the largest share of expenditure globally, with a market share of 39.1% followed by the SSK-Diesel Electric Submarine and SSBN-Ballistic Missile Submarine, with shares of 37.4% and 23.5%, respectively
– Asia-Pacific is analyzed to dominate the global submarines and MRO market with a share of 34.3%, followed by North America and Europe, with shares of 32.7% and 25.5%, respectively
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