Product Synopsis
This report is the result of
SDI's extensive market and company research covering the global Submarine
industry. It provides detailed analysis of both historic and forecast global
industry values, factors influencing demand, the challenges faced by industry
participants, analysis of the leading companies in the industry, and key news.
Introduction and Landscape Why was the
report written?
The Global Submarine Market
2013-2023 offers the reader detailed analysis of the global Submarine market
over the next ten years, alongside potential market opportunities to enter the
industry, using detailed market size forecasts.
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What are the key drivers
behind recent market changes?
In
2013 the global submarine market is estimated to value US$14.4 billion and is
expected to grow to US$21.7 billion by 2023, representing a CAGR of 4.2% during
the forecast period. The market consists of three categories: SSN, SSBN and
SSK. The global expenditure on SSNs is expected to account for a major share of
approximately 41% during the forecast period. The remaining expenditure is
accounted for by SSBN and SSK with shares of 33% and 26% respectively.
What makes this report
unique and essential to read?
The
Global Submarine Market 2013-2023 provides detailed analysis of the current
industry size and growth expectations from 2013 to 2023, including highlights
of key growth stimulators. It also benchmarks the industry against key global
markets and provides a detailed understanding of emerging opportunities in
specific areas.
Key Features and Benefits
The
report provides detailed analysis of the market for submarines during
2013-2023, including the factors that influence why countries are investing or
cutting defense expenditure. It provides detailed expectations of growth rates
and projected total expenditure.
Navantia, Fincantieri, DCNS,
Kockums, BAE Systems, Mazagon Docks, Hyundai Heavy Industries, Daewoo
Shipbuilding and Marine Engineering, PO Sevmash, Huntington Ingalls Industries,
General Dynamics Electric Boat Limited, Admiralty Shipyards, ThyssenkKrupp
Marine Systems, ASC, Golcuk Naval Shipyard, Mitsubishi Heavy Industries,
Kawasaki Shipbuilding Corporation, SaaB, Thales, Lockheed Martin A significant
number of countries such as the US, the UK, Germany, France, and India are
currently in the process of replacing their existing fleet of submarines. Most
of these submarines are being retired as they have reached the end of their
operational cycle. Additionally, Soviet era submarines currently in use by
countries such as Russia, India, and China need to be replaced. The demand for
modern submarines creates a lucrative opportunity for suppliers across the
world.
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Key Market Issues
The market for submarines in
the Western world drastically reduced after the end of the Cold War and those
possessing substantial submarine building capabilities are virtually
self-sufficient in this regard. However BRIC countries and the developing
economies of Southeast Asia are becoming financially able to fund a cost
consuming submarine capability. China, with its anti-access strategy and its
claim to the South China Sea, and North Korea, with its belligerent attitude,
have triggered the demand for submarines in the Far East. Regional rivalries
among countries such as India and Pakistan, and Greece and Turkey, and the push
for general modernization are seen as drivers for the submarine market
worldwide.
The
global submarine industry requires skilled labor to design submarines and
provide maintenance and upgrades throughout its operational life. However,
budget cuts have led to a shortage of skilled professionals such as reactor
engineers and scientists, causing a resource crunch within the industry. The
UK's submarine industry is currently facing a 14% shortage of civilian safety
experts and a 7% shortage of submarine reactor engineers, largely due to a lack
of defense budget allocation.
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Key Highlights
A submarine that draws power by onboard nuclear
reactors has a nearly boundless range and advanced maneuverability. The
submarine can be positioned in distant waters across the globe with no need to
surface except for crew provisions every three months or so. Therefore, the
innovation of the nuclear reactor is serving at least six international navies:
the US, Russia, the UK, France, China, and India, all of which possess nuclear
submarines. The decreased demand for submarines in the West and the increasing
number of technologically advanced sub-systems included in these vessels means
that no single industry would be able to develop and sustain a submarine
manufacturing base. This has gradually resulted in consolidation in the
industry. There is also increasing collaboration on joint development and
production activities amongst firms. For example American firms Huntington
Ingalls Shipbuilding and General Dynamics Electric Boat jointly produce the
Virginia-class submarines.
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