Global Endoscope Reprocessing Market Outlook to 2027

High start-up and operating costs of attack submarines and operational complexities driving growth

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DUBLIN, September 13, 2022 /PRNewswire/ — “Underwater Warfare Systems Market By Type, By Mode Of Operation, By Application: Global Opportunity Analysis And Industry Forecast, 2021-2031” report added to ResearchAndMarkets.com offering.

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The market for submarine warfare systems was valued at $15.8 billion in 2021, and it is estimated that it will reach $24.8 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

North America It is a prominent market for submarine warfare systems, due to the high adoption of advanced weapons among government and military agencies. Additionally, government and military organizations are investing significantly in the development of advanced underwater weapons due to rising security concerns, fueling market growth.

Furthermore, factors such as increased funding to strengthen naval forces, the presence of a large number of key manufacturers, significant funding for research and development activities, and the availability of technologically advanced products such as underwater weapons and communication systems, are some of the key contributors to the rapid growth of the submarine warfare systems market in this region.

In addition, governments and military organizations are awarding contracts to various companies for the development of Unmanned Underwater Vehicles (UUV), sonar, mine countermeasures and surveillance solutions, driving market growth.
The different modes of operations for submarine warfare systems include manned operations, autonomous operations, and remote operations.

The remote operations segment is expected to grow at the highest rate during the forecast period. Remotely operated systems are used for underwater observation, surveillance, mine warfare, and payload delivery. Several companies are developing and testing remote underwater warfare systems to increase operational capabilities.

for example in March 2022RE2 Robotics Inc. announced that its sea mine neutralization system (M2NS) reached an “unprecedented” depth of more than 1 km during an open water demonstration for the US Navy’s Office of Naval Research. is composed of RE2 Sea class Sapiens robotic arms mounted on VideoRay’s Defender inspection-class remotely operated vehicle (ROV). Additionally, it uses RE2 Detect and RE2 Intellect to enable precise, autonomous, and clandestine neutralization of a target.

Based on the application, the global underwater warfare systems market is segregated into combat, C4ISR, and others. Navies around the world are improving their submarine combat capabilities through numerous contracts from government and military organizations. for example in february 2022the US Navy awarded a $59.5 million contract with Lockheed Martin Corporation to provide anti-submarine warfare (ASW) and torpedo systems for surface warfare ships for the US Navy.

Important factors affecting the growth of the underwater warfare systems market include increased demand for stealthy underwater warfare systems, increased adoption of underwater drones for underwater warfare, and government support and investments to strengthen the capabilities of underwater warfare. submarine warfare. Additionally, market growth is affected by the high start-up and operating costs of attack submarines and the operational complexities associated with unmanned underwater systems. In addition, increasing initiatives for the development of lightweight torpedoes and rising global defense spending are influencing the growth of the market.

COVID-19 impact analysis

The COVID-19 crisis has created uncertainty in the submarine warfare systems market, a massive supply chain slowdown, a drop in business confidence, and growing panic among customer segments.

The governments of different regions have already announced the total closure and the temporary closure of industries, which negatively affects the production and sales in general. The impact of the COVID-19 pandemic has led to a delay in the development of submarine warfare systems and slowdowns in testing and demonstrations and restrictions on the operation of key players.

Governments around the world prioritized the healthcare industry to combat the widespread COVID-19 virus, which negatively affected the performance of the defense industry. However, global defense spending reached $1.83 trillion in 2020, an annual increase of 3.9%.

As a share of GDP, global spending rose sharply from an average of 1.85% in 2019 to 2.08% in 2020, as military budgets were sustained despite the severe economic crisis caused by the COVID-19 pandemic. and the series of lockdowns introduced around the world in response. Pandemic lockdowns were lifted and then reinstated to curb the rise in COVID-19 infections as public services gradually opened in major countries such as the UK, IndiaY Italy.

Shortages of electronic components, subsystems and systems, due to regulations associated with the import and export of goods, have caused delays in manufacturing. The development of submarine warfare systems was further affected by material shortages, due to manufacturing closures in Porcelain, South KoreaY Taiwan.

However, after the pandemic, the development of submarine warfare systems has been observed. With the relaxation of confinement measures, vaccination campaigns and the consequent opening of markets around the world, the demand for submarine warfare systems is expected to grow considerably in the near future.

Key Study Findings

  • By type, the surveillance and communication 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, Pacific Asia it is anticipated to register the highest CAGR during the forecast period.

  • Major players operating in the global submarine warfare systems market include BAE Systems Plc., General Dynamic Corporation, Kongsberg Gruppen, L3Harris Technologies Inc., Leonardo SpA, Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Technologies Corporation, SAAB AB and Thales Group.

Key market players

  • bae systems plc

  • General Dynamics Corporation

  • Kongsberg Group

  • L3Harris Technologies, Inc.

  • leonardo spa

  • Lockheed Martin Corporation

  • Northrop Grumman Corporation

  • Raytheon Technologies Corporation

  • saab

  • Thales Group

Key market segments

By type

  • Communication and Surveillance Systems

  • Sensors and Computing Systems

  • Countermeasure systems and payload

  • unmanned underwater vehicles

  • weapon systems

By Mode of Operation

  • manned operations

  • Autonomous Operations

  • remote operations

per application

By region

  • North America

  • U.S

  • Canada

  • Mexico

  • Europe

  • United Kingdom

  • Germany

  • France

  • Russia

  • The rest of Europe

  • Pacific Asia

  • Porcelain

  • Japan

  • India

  • South Korea

  • Rest of Asia Pacific

  • LAMEA

  • Latin America

  • middle East

  • Africa

For more information on this report, please visit https://www.researchandmarkets.com/r/67dmbx

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