Global Naval Combat Systems Market Expected to Grow at a CAGR of 4% during 2019- 2027 | Industry Crucial Players- Saab AB, Ultra Electronics, Elbit Systems, Kongsberg Gruppen, QinetiQ Group, Thales Group, Raytheon, Lockheed Martin, Leonardo and BAE System
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Submarines are considered as one of the most integral part of the naval fleet and are required to be updated with time, therefore the number of submarine up gradation programs are taking place which is estimated to boost the growth of the global naval combat systems market expanding at a CAGR of 4% over the period 2019-2027.
The naval combat systems market is segmented by type, platform type and applications. By type, the C4ISR segment is anticipated to have high growth rate on account of integrated C4ISR system’s acceptance in the market. C4ISR includes combination of different technologies such as C2 systems for command and control, SDR, satellites, and other portable devices for communication. Besides C4ISR, the weapons segment is expected to expand significantly during the forecast period attributing to the substantial procurement of anti-ship missile. The surface based naval combat system is expected to grow significantly owing to its ability to offer abundant offensive and defensive capabilities for months together without requiring land bases near the action.
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Increasing number of unmanned vehicles to boost the Demand for Naval Combat Systems in the Future
The naval combat systems market is thriving on the back of increasing number of unmanned vehicles. The unmanned underwater vehicles or unmanned drones provide the naval combat systems with the opportunities to undertake various operations such as combat search and rescue, electronic warfare, C4ISR, and communication transfer. The advanced naval combat systems provide various functions in underwater unmanned vehicles such as efficient and precise naval intelligence, surveillance, mine countermeasures (MCM) operations, monitoring systems, intelligence and reconnaissance (ISR), and anti-submarine warfare missions. Thereby, the increasing number of unmanned vehicles is likely to propel the growth of the naval combat systems market.
Protects the life of naval personnel- The advanced functions of underwater unmanned vehicles help them in withstanding hazardous chemical and dangerous situations which helps to protect the life of a navy personnel and thus expected to boost the growth of the naval combat systems market.
North America region is projected to expand rapidly in the next few years. Asia Pacific region is expected to showcase upliftment owing to conflicts across various regions such as Arabian Sea, Indian Ocean, and South China Sea to procure advanced combat systems. Europe is also expected to grow significantly on the back of increasing demand for advanced naval combat systems.
The government across different countries are trying to emphasize on the efforts in order to promote the naval combat systems. The lack of advanced technologies and outdated radar systems are hindering the growth of the naval combat systems market.
This report also provides the existing competitive scenario of some of the key players of the global naval combat systems market which includes company profiling of Saab AB, Ultra Electronics, Elbit Systems, Kongsberg Gruppen, QinetiQ Group, Thales Group, Raytheon, Lockheed Martin, Leonardo and BAE Systems.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global naval combat systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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