Anti-Submarine Warfare Market Competitive Analysis, Top Manufacturers, Demand and Outlook 2021

The Global Anti-Submarine Warfare Market Report provides a study with an in-depth overview, describing the product/industry scope and elaborating market outlook and status (2021-2025). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Anti-Submarine Warfare market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.

The Anti-Submarine Warfare Market is projected to grow at a CAGR of over 3% during the forecast period.

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Top Companies in the Global Anti-Submarine Warfare Market: Lockheed Martin Corporation, Raytheon Technologies Corporation, Northrop Grumman Corporation, L3Harris Technologies Inc., BAE Systems plc, Saab AB, Safran SA, and Thales Group, among others.

Key Market Trends

Modernization of Maritime Fleet Fostering Market Growth

Since modern sonars detect submarines with only a fraction of their usual range, they require radar and other visual aids to effectively detect and track submarines. Since the early 2000s, the concept of full-spectrum anti-submarine warfare was developed by the US Navy. The concept relies on aircraft, ships, and submarines for sensing, tracking, and attacking enemy submarines violating international maritime borders in disputed territories. Military powerhouses, such as the US, UK, China, and India, have been focused on augmenting their naval firepower and several fleet modernization and procurement contracts are underway to address the evolving threats to their national security. For instance, in March 2019, the US expedited its plans to achieve a proposed 355-ship fleet. The new plans outlined a rough annual expenditure of USD 40 billion for fleet maintenance. According to its 30-year shipbuilding plan, the US envisions to procure 55 new ships to achieve an effective fleet-size of 314 ships by 2024. The Russian Navy is actively inducting new vessels to its fleet.

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Asia-Pacific to Witness Highest Growth During the Forecast Period

The strengthening of the strategic military alliances between the United States and several Asia-Pacific sovereign nations and subsequent reinforcement of military deployment and intervention has resulted in a complex scenario, urging rapid modernization of defense capabilities of regional countries, such as China, to safeguard their vested interests.? China has invested its vast technological prowess toward the indigenous development of several weapon systems to foster its military prowess over all three dominion land, air, and water. By the mid-2020s, China aims to induct the Type 093B SHANG-class guided-missile nuclear attack submarine. During the 2017-2018, China launched the first of its four RENHAI-class guided-missile cruisers. RENHAI is scheduled to be inducted into active service by 2019, and it can carry a large load out of anti-ship cruise missiles (ASCMs), SAMs, and anti-submarine weapons

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