Global Undersea Warfare Systems Market is valued at approximately USD 17.32 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2024-2032. Undersea warfare encompasses combat and C4ISR activities conducted beneath the water's surface to counter security threats and maintain dominance in underwater environments. These systems include sensors, weapon systems, unmanned underwater vehicles, countermeasure systems, and communication systems, which can be operated manually, autonomously, and remotely.
The market growth is driven by the increasing demand for stealth undersea warfare systems, the advent of underwater drones, and government support for strengthening undersea warfare capabilities. Submarines, with their operational stealth, flexibility, lethality, and endurance, play a crucial role in modern naval operations. For instance, the Indian Navy commissioned its 4th stealth Scorpene-class submarine in November 2021 under Project 75, reflecting the rising demand for advanced stealth submarines. Additionally, the Russian Navy enhanced its seaborne deterrence forces with the acquisition of three nuclear-powered stealth submarines in late 2021. Moreover, the development of lightweight torpedoes, rise in defense spending, and increasing investments in undersea warfare capabilities present various lucrative opportunities over the forecast years.
However, the market faces challenges such as operational complexities associated with undersea unmanned systems and high upfront and operational costs of attack submarines. Despite these challenges, the development of lightweight torpedoes and increased defense spending are expected to create lucrative opportunities for market growth during the forecast period.
The key regions considered for the Global Undersea Warfare Systems Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Undersea Warfare Systems Market in terms of revenue. The market growth in the region is being attributed to factors including high defense spending and advancements in undersea warfare technologies. Whereas, the market in Asia Pacific is anticipated to grow at the fastest rate over the forecast period fueled by increased investments in naval defense capabilities amid regional tensions.
Major market players included in this report are:
Lockheed Martin Corporation
BAE Systems Plc
Raytheon Technologies Corporation
Thales Group
Kongsberg Gruppen
Leonardo S.p.A.
General Dynamics Corporation
Huntington Ingalls Industries, Inc.
Atlas Elektronik GmbH
Ultra Electronics Holdings plc
Teledyne Technologies Incorporated
Leidos Holdings, Inc.
Northrop Grumman Corporation
L3Harris Technologies, Inc.
Saab AB
The detailed segments and sub-segment of the market are explained below:
By Type:
Communication and Surveillance Systems
Sensors and Computation Systems
Countermeasure Systems and Payload
Unmanned Underwater Vehicles
Weapon Systems
By Mode of Operation:
Manned Operations
Autonomous Operations
Remotely Operations
By Application:
Combat
C4ISR
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
