The Global Submarine and MRO market is expected grow at a CAGR of 4.96% till 2028. The cumulative market for global expenditure on submarines and MRO will reach US$340.8 billion over the forecast period. The demand for submarines is expected to be driven by the disputes over offshore territories and maritime boundaries, abetted by the need to exploit the offshore resources including unexplored oil & gas reserves across the world.
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The submarine market is split into three segments: SSK-Diesel Electric Submarine, SSN-Nuclear Attack Submarine, and SSBN-Ballistic Missile Submarine. During the forecast period, SSNs are expected to account for the largest share of spending of the overall global market; driven by large scale procurement programs in the US.
The Global Submarine and MRO market is dominated by North America with the US being the largest spender in the sector. Asia Pacific region represents the second largest market, with the total submarine and MRO spending valued at US$111.9 billion over the forecast period. The region will be largely driven by robust economic growth and increased spending on all forms of defense equipment during 2018-2028.
The need to provide naval forces with increased capabilities pertaining to maritime security is expected to spur the submarine market. The threat from neighboring nations and the need long endurance submarines- SSNs is expected to be a major factor that will contribute to the increasing demand for submarine. Furthermore, the large base of existing inventory, as well as new procurements throughout the next decade, will create the need for servicing and maintenance activities, which is anticipated to fuel the submarine and MRO market to a great extent.
"The Global Submarine and MRO Market 2018-2028", report offers a detailed analysis of the industry, with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for submarine, key market trends, and challenges encountered by industry participants.
The report provides an in-depth analysis of the following -
- Market size and drivers: detailed analysis during 2018-2028, including highlights of the demand drivers and growth stimulators. It also provides a snapshot of the spending and modernization patterns of different regions around the world.
- Recent developments and industry challenges: insights into technological developments and a detailed analysis of the changing preferences of submarine segments around the world. It also provides trends of the changing industry structure and the challenges faced by industry participants.
- Regional highlights: study of the key markets in each region, providing an analysis of the key segments of the market that are expected to be in demand.
- Major programs: details of the key programs in each segment, which are expected to be executed during 2018-2028.
- Competitive landscape and strategic insights: analysis of the competitive landscape of the global market. It provides an overview of key players, together with information regarding key alliances, strategic initiatives, and financial analysis.
Reasons To Buy
- Determine prospective investment areas based on a detailed trend analysis of the global submarine and MRO market over the next ten 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 submarine and MRO 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 submarine 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 suppliers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.