This report offers detailed analysis of the global submarine market over the next ten years, and provides extensive market size forecasts by country and sub sector. It covers the key technological and market trends in the submarine market. It further lays out an analysis of the factors influencing the demand for submarines, and the challenges faced by industry participants.
In particular, it provides an in-depth analysis of the following:
- Global submarine market size and drivers: comprehensive analysis of the submarine market through 2011–2021, including highlights of the demand drivers and growth stimulators for submarines. It also provides an insight on the spending pattern and modernization pattern in different regions around the world.
- Recent development and industry challenges: insights into technological developments in the submarine market, and an extensive analysis of the changing preferences of naval forces around the world. It also provides the current consolidation trends in the industry and the challenges faced by industry participants.
- SWOT analysis of the submarine market: exhaustive analysis of industry characteristics, determining the strengths, weaknesses, opportunities and threats faced by the submarine market.
- Global submarine market-country analysis: analysis of the key markets in each region, providing an analysis of the top segments of submarines expected to be in demand.
- Major programs: details of the major programs in each segment expected to be executed during the forecast period.
- Competitive landscape and strategic insights: detailed analysis of competitive landscape of the submarine industry. It provides an overview of key naval shipbuilders catering to the submarine sector, together with insights such as key alliances, strategic initiatives and a brief financial analysis.
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Key Highlights
The global submarine market is expected to increase by a CAGR of 1.22% during the forecast period Submarines form an essential core of today’s naval fleets as a result of their flexible mission capabilities and ability to complement other strategic resources. Worldwide, 41 countries possess submarine capability and together operate 450 submarines. Most of these nations are modernizing their fleets or increasing them as a result of changing security situations. A total of 154 submarines are to be procured over the forecast period, costing US$186.3 billion.
The market, which currently stands at US$16.4 billion, is set to rise by a CAGR of 1.02 % to US$18.2 billion by 2021. North America is expected to constitute 47% of the market during the forecast period, a total of US$87.3 billion. The US, as the largest defense spender in North America, accounts for almost the entire amount. European nations are expected to cumulatively spend US$46.3 billion across the forecast period and constitute 25% of the total submarine market. Regional hostility prevailing among Asian states is driving the submarine market, which is expected to cumulatively be worth US$44 billion across the forecast period, 23.6% of the total market. Brazil and Argentina are the main spenders in the submarine sector in Latin America, totaling US$8.6 billion, 4.61% of the total market.
Scope
- Analysis of the global submarine market size from 2011 through 2021
- Analysis of defense budget spending pattern by region
- Insights on the region wise defense modernization initiatives
- Sub-sector analysis of the submarine market
- Analysis of key global submarine market by country
- Key competitor profiling
Reasons to Buy
- Gain insight into the submarine market with current and forecast market values
- Get insight on key drivers and attractiveness parameters of the global submarine market
- Provides detailed analysis of the defense spending pattern including forecasts of military spending till 2021 by region
- Gain insight into various defense modernization initiatives around the world
- Get insight on the various factors impacting the growth of the submarine market
- Gain comprehensive sub-sector market analysis including market values and forecast of the leading defense spending nations of the world
- Provides a thorough analysis of the recent developments in the global submarine market including technological trends, industry consolidation trend, and key challenges
- Provides detailed information of the leading submarine programs of major defense spenders across of the world
- Detailed profiles of 20 leading submarine and related systems manufacturing companies across the world
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Table of Content
1 Introduction 13
1.1 What is this Report About? 13
1.2 Definitions 13
1.3 Summary Methodology 14
1.4 About Strategic Defence Intelligence 15
2 Executive Summary 16
3 Global Submarine market Size and Drivers 18
3.1 Submarine market Size and Forecast 18
3.1.1 Demand for submarines to remain stable across the forecast period 18
3.2 Global Submarine Market – Regional Analysis 19
3.2.1 North America constitutes the largest share in the global submarine market 19
3.2.2 Submarine expenditure in North America set to experience modest growth 21
3.2.3 Demand for submarines in the European region expected to decline due to defense budget cuts 22
3.2.4 Naval arms race in Asia-Pacific and strong economic growth expected to result in significant demand for submarines 23
3.2.5 Middle Eastern countries are not expected to invest significantly in submarines 24
3.2.6 Submarine market in Latin America is expected to decline during the forecast period 25
3.2.7 African submarine market to be negligible as large defense spenders have recently completed submarine acquisitions 26
3.3 Submarines Sub-Sector Market Size Composition 27
3.3.1 SSNs are expected to have the largest share of the total submarine market during the forecast period 27
3.3.2 Market size of SSNs estimated at US$87.4 billion during the forecast period 29
3.3.3 Market for ballistic missile submarines to record a CAGR of 4.83% during the forecast period 30
3.3.4 Demand for diesel electric submarines expected to fall during the forecast period 31
3.4 Demand Drivers and Growth Stimulators 32
3.4.1 An arms race in Southeast Asia will drive demand for submarines during the forecast period 32
3.4.2 Replacement of obsolete submarines is expected to drive the demand 33
3.4.3 Maritime security threats fuel the global demand for submarines 33
3.5 Defense Budget Spending Review 34
3.5.1 Capital expenditure expected to rise in Europe once the fiscal debt is in control 34
3.5.2 Defense budgets of countries in Asia-Pacific growing at a robust pace due to changing power dynamics 35
3.5.3 North American defense spending to see a marginal reduction in its defense expenditure 36
3.5.4 Modernization programs expected to drive the growth in defense budgets of Latin American countries 37
3.5.5 Capital expenditure of African nations will increase at a CAGR of 6.09% during the forecast period 38
3.5.6 Middle Eastern defense expenditure is growing at a robust pace 39
3.6 Defense Modernization Review 40
3.6.1 Debt crisis in Europe leading to postponing of modernization plans 40
3.6.2 Arms race in Asia-Pacific reflected in the modernization plans 40
3.6.3 North American modernization plans marginally affected by the economic recession 41
3.6.4 Latin American countries modernization programs are driven by the need to replace obsolete armaments 41
3.6.5 African countries acquire surveillance and monitoring equipment to curb the growing crime rate 42
3.6.6 Middle Eastern countries pursue modernization of their aerial forces 42
4 Industry Trends, Recent Developments and Challenges 43
4.1 Technological Developments 43
4.1.1 Mature Air Independent Propulsion systems seen as a must have capability 43
4.1.2 Improvements in submarine stealth 44
4.1.3 Improvements in active and passive sonar and sensor technologies 45
4.2 Market Trends 46
4.2.1 Increasing demand for submarines among the developing world 46
4.2.2 Move towards modularity 46
4.2.3 Varying mission profiles demand multirole capability and multiple payloads 46
4.3 Industry Consolidation 47
4.3.1 Collaborative approach to submarine construction 47
4.3.2 Consolidation of the industry 47
4.3.3 Increasing international collaboration and technology transfer activities 47
4.4 Key Challenges 48
4.4.1 Defense budget cuts across the world impede the growth of the global submarine market 48
4.4.2 Lack of skilled labor hampers growth of the industry 48
5 SWOT Analysis of the Submarine market 49
5.1 Strengths 50
5.1.1 Integration of technological innovations to propel the global demand for submarines 50
5.1.2 Companies venture into joint development programs in order to cater to specific markets 50
5.1.3 Acquisition of submarines gives countries a strategic advantage 51
5.2 Weaknesses 52
5.2.1 Lack of skilled labor impacts the growth of the industry 52
5.2.2 Corruption and delays in technology transfers mar the growth of the industry 52
5.3 Opportunities 53
5.3.1 Need to replace obsolete submarines 53
5.3.2 Maritime security threats are expected to drive the demand for submarines 53
5.3.3 Arms race in Asia-Pacific is anticipated to drive the procurement of submarines 53
5.4 Threats 54
5.4.1 A reduction in global military expenditure is likely to affect the submarine market 54
5.4.2 Inadequately trained navies affect the overall sales of submarines 54
6 Country Analysis – Submarine market 55
6.1 United States Market Size and Forecast 2011–2021 56
6.1.1 Expenditure on SSNs to remain constant across the forecast period 59
6.1.2 SSBNs to receive increased funding by 2021 61
6.2 Canada Market Size and Forecast, 2011–2021 62
6.2.1 Canada in process of modernizing submarine fleet 65
6.3 France Market Size and Forecast, 2011–2021 66
6.3.1 Barracuda-class SSN to replace Rubis-class boats 69
6.4 United Kingdom Market Size and Forecast, 2011–2021 70
6.4.1 SSN market in the UK to record steady growth in forecast period 73
6.4.2 Replacement of Vanguard-class will lead to higher expenditure in forecast period 74
6.5 Sweden Market Size and Forecast, 2011–2021 75
6.5.1 Security of Arctic to increase demand for SSKs 78
6.6 Turkey Market Size and Forecast, 2011–2021 79
6.6.1 Procurement of U-214s provides opportunities for local suppliers and shipyards 82
6.7 Russia Market Size and Forecast, 2011–2021 83
6.7.1 SSN market estimated at US$5.6 billion in the forecast period 86
6.7.2 Borey-class SSBN to be commissioned in 2011 as part of modernization plan 87
6.7.3 Lada-class SSKs with AIP system to be commissioned 88
6.8 China Market Size and Forecast, 2011–2021 89
6.8.1 SSNs expected to enter service by 2015 92
6.8.2 China expected to continue the procurement of SSBNs 93
6.8.3 China to acquire Yuan-class submarines installed with AIP technology 94
6.9 South Korea Market Size and Forecast, 2011–2021 95
6.9.1 South Korea expected to spend on domestically developed submarines 97
6.10 India Market Size and Forecast, 2011–2021 98
6.10.1 Indian SSK market size estimated at US$6.3 billion in forecast period 101
6.10.2 Indian government to build three SSBN submarines 102
6.11 Australia Market Size and Forecast, 2011–2021 103
6.11.1 Modernization of Collins-class submarines and development of domestic submarines to constitute market for SSKs 106
6.12 Japan Market Size and Forecast, 2011–2021 107
6.12.1 Japanese Ministry of Defense to expand size of submarine fleet 110
6.13 Brazil Market Size and Forecast, 2011–2021 111
6.13.1 The country is expected to increase its spending on SSNs 114
6.13.2 Brazil is expected to spend US$3.1 billion on diesel electric submarines during the forecast period 115
6.14 Argentina Market Size and Forecast 2011–2021 116
6.14.1 Argentina is expected to invest in SSNs during the forecast period 118
7 Major Submarine Programs 119
7.1 SSBNs 119
7.1.1 SSBN (X) Program 119
7.1.2 SSBN (R) Program 121
7.1.3 Borei-Class 122
7.1.4 Jin-Class (Type 094) 123
7.1.5 Arihant-Class 124
7.2 SSNs 125
7.2.1 Astute-Class 125
7.2.2 Virginia-Class 127
7.2.3 Barracuda-Class 128
7.2.4 Type 095 129
7.2.5 Yasen-Class 130
7.3 SSKs 131
7.3.1 U-214 131
7.3.2 A26 132
7.3.3 Scorpene-Class 133
7.3.4 Sōryū-Class 134
7.3.5 SEA 1000 future submarine project 135
7.3.6 Project–75 (I) 136
7.3.7 KS–III 137
7.3.8 Yuan-Class (Type 041) 138
8 Competitive Landscape and Strategic Insights 139
8.1 Competitive Landscape Overview 139
8.1.1 Navantia S.A: overview 141
8.1.2 Navantia S.A: products and services 141
8.1.3 Navantia S.A: recent announcements and strategic initiatives 142
8.1.4 Navantia SA: alliances 142
8.1.5 Navantia SA: recent contract wins 143
8.1.6 Navantia SA: financial analysis 143
8.1.7 Fincantieri: overview 143
8.1.8 Fincantieri: products and services 143
8.1.9 Fincantieri: recent announcements and strategic initiatives 144
8.1.10 Fincantieri: alliances 144
8.1.11 Fincantieri: recent contract wins 145
8.1.12 Fincantieri: financial analysis 146
8.1.13 DCNS: overview 148
8.1.14 DCNS: products and services 148
8.1.15 DCNS: recent announcements and strategic initiatives 149
8.1.16 DCNS: alliances 149
8.1.17 DCNS: recent contract wins 150
8.1.18 DCNS: financial analysis 150
8.1.19 Kockums: overview 151
8.1.20 Kockums: products and services 151
8.1.21 Kockums: recent announcements and strategic initiatives 152
8.1.22 Kockums: alliances 152
8.1.23 Kockums: recent contract wins 152
8.1.24 Kockums: financial analysis 152
8.1.25 BAE Systems: overview 153
8.1.26 BAE Systems: products and services 153
8.1.27 BAE Systems: recent announcements and strategic initiatives 153
8.1.28 BAE Systems: alliances 154
8.1.29 BAE Systems: recent contract wins 154
8.1.30 BAE Systems: financial analysis 155
8.1.31 Mazagon Docks: overview 157
8.1.32 Mazagon Docks: products and services 157
8.1.33 Mazagon Docks: recent announcements and strategic initiatives 158
8.1.34 Mazagon Docks: alliances 158
8.1.35 Mazagon Docks: recent contract wins 159
8.1.36 Mazagon Docks: financial analysis 159
8.1.37 Hyundai Heavy Industries: overview 159
8.1.38 Hyundai Heavy Industries: products and services 159
8.1.39 Hyundai Heavy Industries: recent announcements and strategic initiatives 159
8.1.40 Hyundai Heavy Industries: alliances 160
8.1.41 Hyundai Heavy Industries: recent contract wins 160
8.1.42 Hyundai Heavy Industries: financial analysis 161
8.1.43 Daewoo Shipbuilding & Marine Engineering (DSME): overview 163
8.1.44 Daewoo Shipbuilding & Marine Engineering (DSME): products and services 163
8.1.45 Daewoo Shipbuilding & Marine Engineering (DSME): recent announcements and strategic initiatives 163
8.1.46 Alliances 163
8.1.47 Daewoo Shipbuilding & Marine Engineering (DSME): recent contract wins 163
8.1.48 Daewoo Shipbuilding & Marine Engineering (DSME): financial analysis 164
8.1.49 PO Sevmash: overview 165
8.1.50 PO Sevmash: products and services 166
8.1.51 PO Sevmash: recent announcements and strategic initiatives 166
8.1.52 PO Sevmash: alliances 167
8.1.53 PO Sevmash: recent contract wins 167
8.1.54 PO Sevmash: financial analysis 167
8.1.55 Huntington Ingalls Industries (HII): overview 168
8.1.56 Huntington Ingalls Industries (HII): products and services 168
8.1.57 Huntington Ingalls Industries (HII): recent announcements and strategic initiatives 168
8.1.58 Huntington Ingalls Industries (HII): alliances 169
8.1.59 Huntington Ingalls Industries (HII): recent contract wins 170
8.1.60 Huntington Ingalls Industries (HII): financial analysis 171
8.1.61 General Dynamics Electric Boat Corp.: overview 173
8.1.62 General Dynamics Electric Boat Corp.: products and services 173
8.1.63 General Dynamics Electric Boat Corp.: recent announcements and strategic initiatives 173
8.1.64 General Dynamics Electric Boat Corp.: alliances 173
8.1.65 General Dynamics Electric Boat Corp.: recent contract wins 174
8.1.66 General Dynamics Electric Boat Corp.: financial analysis 175
8.1.67 Admiralty Shipyards: overview 175
8.1.68 Admiralty Shipyards: products and services 175
8.1.69 Admiralty Shipyards: recent announcements and strategic initiatives 175
8.1.70 Admiralty Shipyards: alliances 175
8.1.71 Admiralty Shipyards: recent contract wins 176
8.1.72 Admiralty Shipyards: financial analysis 176
8.1.73 ThyssenKrupp Marine Systems AG: overview 176
8.1.74 ThyssenKrupp Marine Systems AG: products and services 176
8.1.75 ThyssenKrupp Marine Systems AG: recent announcements and strategic initiatives 178
8.1.76 ThyssenKrupp Marine Systems AG: alliances 178
8.1.77 ThyssenKrupp Marine Systems AG: recent contract wins 179
8.1.78 ThyssenKrupp Marine Systems AG: financial analysis 179
8.1.79 ASC Pty Ltd: overview 180
8.1.80 ASC Pty Ltd: products and services 180
8.1.81 ASC Pty Ltd: recent announcements and strategic initiatives 180
8.1.82 ASC Pty Ltd: alliances 181
8.1.83 ASC Pty Ltd: recent contract wins 182
8.1.84 ASC Pty Ltd: financial analysis 183
8.1.85 Golcuk Naval Shipyard: overview 185
8.1.86 Golcuk Naval Shipyard: products and services 185
8.1.87 Golcuk Naval Shipyard: recent announcements and strategic initiatives 185
8.1.88 Golcuk Naval Shipyard: alliances 185
8.1.89 Golcuk Naval Shipyard: recent contract wins 185
8.1.90 Golcuk Naval Shipyard: financial analysis 185
8.1.91 Mitsubishi Heavy Industries (MHI): overview 186
8.1.92 Mitsubishi Heavy Industries (MHI): products and services 186
8.1.93 Mitsubishi Heavy Industries (MHI): recent announcements and strategic initiatives 187
8.1.94 Mitsubishi Heavy Industries (MHI): alliances 187
8.1.95 Mitsubishi Heavy Industries (MHI): recent contract wins 187
8.1.96 Mitsubishi Heavy Industries (MHI): financial analysis 188
8.1.97 Kawasaki Shipbuilding Corporation: overview 190
8.1.98 Kawasaki Shipbuilding Corporation: products and services 190
8.1.99 Kawasaki Shipbuilding Corporation: recent announcements and strategic initiatives 190
8.1.100 Kawasaki Shipbuilding Corporation: alliances 191
8.1.101 Kawasaki Shipbuilding Corporation: recent contract wins 191
8.1.102 Kawasaki Shipbuilding Corporation: financial analysis 191
8.1.103 Saab: overview 191
8.1.104 Saab: products and services 191
8.1.105 Saab: recent announcements and strategic initiatives 192
8.1.106 Saab: alliances 192
8.1.107 Saab: recent contract wins 192
8.1.108 Saab: financial analysis 193
8.1.109 Thales: overview 195
8.1.110 Thales: products and services 195
8.1.111 Thales: recent announcements and strategic initiatives 196
8.1.112 Thales: alliances 197
8.1.113 Thales: recent contract wins 198
8.1.114 Thales: financial analysis 199
8.1.115 Lockheed Martin Corp.: overview 201
8.1.116 Lockheed Martin Corp.: products and services 201
8.1.117 Lockheed Martin Corp.: recent contracts and strategic initiatives 204
8.1.118 Lockheed Martin Corp.: alliances 206
8.1.119 Lockheed Martin Corp.: recent contract wins 207
8.1.120 Lockheed Martin Corp.: financial analysis 209
9 Appendix 211
9.1 List of Global Submarine Programs 211
9.2 Methodology 217
9.3 Contact us 217
9.4 About ICD Research 217
9.5 Disclaimer 217
