Press release
Undersea Warfare Systems Market Expected to Reach $24.8 Billion by 2031
Rise in demand for stealth undersea warfare systems, advent of underwater drones for undersea warfare, and government support for strengthening undersea warfare capabilities drive the growth of the global undersea warfare systems market. On the other hand, operational complexities associated with undersea unmanned systems and high upfront and operational costs of attack submarines impede the growth to some extent. However, development of lightweight torpedoes and rise in defense spending are expected to create lucrative opportunities in the industry.
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The communication & surveillance systems segment, however, would exhibit the fastest CAGR of 6.2% throughout the forecast period.
Based on mode of operation, the manner operations segment generated the highest share in 2021, accounting for more than half of the global market. The remotely operations segment, on the other hand, would exhibit the fastest CAGR of 5.9% from 2022 to 2031.
Based on region, the market across North America held the lion's share in 2021, garnering more than two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 5.7% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global undersea warfare systems market report include General Dynamic Corporation
Kongsberg Gruppen
Leonardo S.p.A.
Lockheed Martin Corporation
BAE Systems Plc.
Thales Group
Northrop Grumman Corporation
Raytheon Technologies Corporation
L3Harris Technologies Inc.
SAAB AB
Key Findings Of The Study
By type, the communication and surveillance systems segment is anticipated to exhibit significant growth in the near future.
By mode of operation, the remote operations segment is anticipated to exhibit significant growth in the near future.
By application, the C4ISR segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Know More- https://www.globenewswire.com/news-release/2022/06/07/2457421/0/en/Undersea-Warfare-Systems-Market-to-Garner-24-8-Billion-by-2031-Says-Allied-Market-Research.html
Similar Reports We Have on Aerospace and Defense Industry:
Aircraft Lighting Market https://www.alliedmarketresearch.com/aircraft-lighting-market-A06273
Zero-Emission Aircraft Market https://www.alliedmarketresearch.com/zero-emission-aircraft-market-A11848
Aircraft Sensors Market https://www.alliedmarketresearch.com/aircraft-sensors-market-A06225
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