Nuclear-powered ballistic missile submarines are set to be fastest-growing segment in the global submarine market by 2029, says GlobalData

11 November 2019 (Last Updated November 5th, 2019 16:30)

Nuclear-powered ballistic missile submarines are set to be fastest-growing segment in the global submarine market by 2029, says GlobalData

Submarines are a large sector in the naval warfare market and offer a unique perspective on the battlefield. Currently, the biggest factors driving demand for submarines are high-value procurement programs; these include the US Navy’s Virginia-Class procurement, the Indian Navy’s SSN program, and the French Navy’s Barracuda-Class procurement. The impact of these programs is an ever-growing global submarine market.

 

Navies are increasingly investing in submarine enhancements to improve undersea warfare capabilities.

GlobalData’s report The Global Submarine Market 2019-2029 will explore the latest developments in undersea naval technology, and provide key insights into naval technology providers.

Navies across the world are enhancing their undersea capabilities by commissioning advanced submarines, primarily to gain an advantage over opposing forces. The main drivers for enhanced submarine-based capabilities are disputes over offshore territories, and the need to explore previously undiscovered offshore oil and gas reserves.

 

Key highlights of the report include:

  • Detailed analysis for the period 2019–2029, providing a snapshot of the global submarine market
  • Recent developments and industry challenges, and an exploration of trends driving the market
  • A study of key markets in each region, with analysis of key segments
  • An overview of the competitive and strategic landscape, including profiles of key players

 

The report allows operators to gain key insights into the global submarine market and view a snapshot of its future. It enables the reader to determine the best prospective investment areas based on in-depth trend analysis carried out by experts. Readers can strengthen their understanding of the market, including demand drivers, trends and technological developments. Thorough analysis informs better decisions to enable operators to thrive in the naval warfare sector in the coming years.