Global Trends Overview: The Rapid Evolution of the Submarines Market

What Is the Projected Valuation of the Submarines Market by 2030?
The submarines market size is expected to see strong growth in the next few years. It will grow to $16.44 billion in 2030 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rise in unmanned underwater vehicle integration, development of advanced stealth and propulsion systems, growth in civilian research submarines, adoption of ai-assisted navigation, expansion in littoral combat and strategic deterrence roles. Major trends in the forecast period include modular submarine construction, expansion of commercial subsea operations, increased focus on stealth & acoustic signature reduction, advanced torpedo & missile integration, growth in submarine maintenance, repair & overhaul (mro).

Who Are The Key Players In The Submarines Industry?
Major companies operating in the submarines market are Lockheed Martin Corporation, Hyundai Heavy Industries Co. Ltd., General Dynamics Corporation, Mitsubishi Heavy Industries Ltd., Northrop Grumman Corporation, BAE Systems plc, Larsen & Toubro Limited, Kawasaki Heavy Industries Ltd., Huntington Ingalls Industries Inc., Fincantieri, ThyssenKrupp Marine Systems GmbH, China Shipbuilding Industry Corporation, Babcock International Group, United Shipbuilding Corporation, Saab AB, Kongsberg Gruppen ASA, Damen Shipyards Group, Naval Group, Rubin Design Bureau, Navantia S.A., Mazagon Dock Shipbuilders Limited, Daewoo Shipbuilding & Marine Engineering Co. Ltd., Naviris, OSK-ShipTech A/S, Leonardo - Fincantieri S.p.A., Howaldtswerke-Deutsche Werft GmbH, TKMS Blohm + Voss

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In October 2025, Mazagon Dock Shipbuilders Limited, an India-based provider of naval shipbuilding and submarines, entered into a partnership with Naval Group to strengthen global submarine capabilities. The partnership aims to offer advanced Scorpene-class submarines by combining Naval Group's design expertise with MDL's shipbuilding strength, enhancing India's role in international submarine manufacturing. Naval Group is a France-based provider of submarine design, combat systems, and naval defense solutions.

What Are The Upcoming Trends Of Submarines Market In The Globe?
Major companies operating in the submarine market are focusing on developing advanced solutions such as lithium-ion battery propulsion-based submarines to enhance underwater endurance, stealth, and strike capability. Lithium-ion battery propulsion-based submarines utilize advanced batteries to drive electric propulsion systems, offering superior energy efficiency, extended underwater endurance, faster charging, and lower maintenance than conventional lead-acid submarines. For instance, in October 2025, Hanwha Ocean, a South Korea-based shipbuilding and offshore engineering company, launched the KSS-III Batch II submarine featuring lithium-ion battery propulsion and a 10-cell vertical-launch missile system. The 3,600-ton class submarine integrates a diesel-electric air-independent propulsion system supported by lithium-ion batteries to extend underwater endurance and maintain high submerged speed. It is equipped with ten vertically launched ballistic missile cells, an increase from six in the previous batch, providing enhanced strategic strike capability. The vessel also incorporates advanced sonar and combat-management systems that improve detection, tracking, and target engagement efficiency. Its stealth features include acoustic anechoic coatings, vibration-damped mounts, and a specially designed propeller to minimize noise.

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What Segments Are Covered In The Submarines Market Report?
The submarines market covered in this report is segmented -

1) By Type: Nuclear Powered Submarine, Diesel Electric Submarine, Ballistic Missile Submarine
2) By Platform: Commercial, Military
3) By Application: Surveillance, Combat, Marine Environmental Monitoring, Others

Subsegments:
1) By Nuclear Powered Submarine: Fleet Ballistic Missile Submarines (SSBN), Attack Submarines (SSN)
2) By Diesel Electric Submarine: Conventional Submarines, AIP (Air-Independent Propulsion) Submarines
3) By Ballistic Missile Submarine: Strategic Submarines, Tactical Submarines

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