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The Global Submarines and MRO Market 2017-2027
NEW YORK, Jan. 3, 2018 /PRNewswire/ -- Summary
Global military submarine and related MRO market, valued at just over US$22 Billion in 2017, is projected grow at a CAGR of almost 4.5%, to reach about US$34 Billion by 2027. The cumulative market for global expenditure on military submarines will reach over US$300 Billion over the forecast period. Out of which, the submarine procurement is expected to be valued at almost US$20 Billion in 2017 and projected to cross US$30 Billion by 2027. Whereas, the MRO services of submarines market is set to grow from about US$2.5 Billion in 2017 to reach almost US$3 Billion by 2027, registering a growth rate of more than 0.5%.
Read the full report: https://www.reportlinker.com/p05236673
Military submarines market is split into three segments: SSN-Nuclear Attack Submarine, SSK-Diesel Electric Submarine and SSBN-Ballistic Missile Submarine. During the forecast period, SSN are expected to account for the largest share of spending, accounting for nearly 40% of the overall global market. The major factor driving expenditure on the SSN segment is the increased ability of a nuclear powered attack submarine to be at sea for longer missions without refueling, when compared to SSK submarines. Major investments in this category include the US's Virginia class, Chinese Type 097, Russian Yasen class, the UK's Astute, and the French Barracuda, among others.
Military submarine and related MRO market is expected to be led by Asia Pacific with a share of nearly 35% over the forecast period, closely followed by North America with over a 30% share, and Europe with just over 25% share. The Latin American market for military submarines is expected to account for about 4%, followed by the Middle East and African markets with a collective share of about 3.5%.
Despite military budget cuts, Europe's share in the global submarine market is projected to increase from about 23% in 2017 to over 25% in 2027, primarily due to various scheduled deployments. These include programs such as the Astute, Successor, Yasen, and Borei classes among others, some of which have been initiated in previous years.
The report "The Global Submarines and MRO Market 2017-2027" offers detailed analysis of the global Submarine market over the next ten years, and provides market size forecasts. It covers key technological and market trends in the industry, and analyzes factors influencing submarine demand. The report also highlights challenges faced by industry participants.
In particular, this report provides the following analysis -
- Overview: Snapshot of the Submarine market during 2017-2027, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the Submarine market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the Submarine market from a segmental perspective and a detailed analysis of factors influencing the market for each sector.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the Submarine market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis - Key Defense Market: Analysis of the key markets in each region, providing an analysis of the Submarine segments expected to be in demand in each region.
- Key Program Analysis: Details of the top programs in each segment expected to be executed during the forecast period.
- Competitive landscape analysis: Analysis of competitive landscape of the global Submarine industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
Companies mentioned in this report: BAE Systems Plc, Huntington Ingalls Industries (HII), General Dynamics Electric Boat Corp, Naval Group, Saab Kockums, Mazagon Dock, Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME), PO Sevmash, ThyssenKrupp Marine Systems (TKMS), Admiralty Shipyard, ASC Pty Ltd
- 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
Reasons to buy
- Determine prospective investment areas based on a detailed trend analysis of the global submarines and MRO market over the next years
- Gain in-depth understanding about the underlying factors driving demand for different submarine segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global submarines market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global submarines and MRO market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top submarine providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available
Read the full report: https://www.reportlinker.com/p05236673
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