The anti-submarine warfare system market size has grown strongly in recent years. It will grow from $16.37 billion in 2023 to $17.4 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth witnessed in the historic period can be attributed to several factors, including efforts towards fleet modernization within the navy, increasing geopolitical tensions, a heightened focus on preparedness for underwater warfare, advancements in unmanned systems technology, and collaborative defense projects.
The anti-submarine warfare system market size is expected to see strong growth in the next few years. It will grow to $22.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The projected growth in the forecast period can be ascribed to several factors, including the escalation of defense budgets, heightened investments in maritime surveillance capabilities, a surge in government funding for defense initiatives, the proliferation of submarines globally, and escalating risks posed to submarines. Key trends expected in this period encompass product innovation, advancements in technology, strategic partnerships and collaborations between defense contractors and governments, the incorporation of advanced stealth capabilities, advancements in data fusion, artificial intelligence, and machine learning applications.
The anticipated rise in defense budgets is poised to drive the expansion of the anti-submarine warfare (ASW) systems market in the foreseeable future. Defense budgets, representing the financial allocations by governments for the support, maintenance, and armament of their military forces, play a crucial role in fueling advancements in ASW systems. These allocations provide essential funding for the research, development, procurement, and deployment of technologies aimed at countering submarine threats and ensuring maritime superiority. An illustrative example comes from April 2023, as outlined in a report by the Stockholm International Peace Research Institute, where global military spending surged by 3.7% in real terms, reaching a historic high of$2.24 trillion in 2022. Of note, European military expenditure experienced a notable upswing, soaring by 13%. Dominating the landscape, the United States, contributing 39% to the world's military spending, and China, with a 13% share, retained their positions as the leading two spenders. Thus, the upward trajectory of defense budgets serves as a catalyst for the expansion of the anti-submarine warfare (ASW) systems market.
Prominent entities within the anti-submarine warfare system domain are actively engaged in the development of cutting-edge technologies, including anti-submarine torpedoes, aimed at mitigating evolving submarine threats and bolstering maritime security. Anti-submarine torpedoes, specifically engineered to incapacitate or destroy submarines, stand as a pivotal component in this endeavor. Notably, in September 2023, BAE Systems, a UK-based provider of defense, aerospace, and information security solutions, in collaboration with Malloy Aeronautics, a UK-based manufacturer of military drone systems, unveiled an inert variant of the Sting Ray training anti-submarine torpedo. Distinguished by its electric-powered vertical take-off and landing capabilities, this anti-submarine torpedo boasts a payload capacity of up to 200kg, speeds reaching 140 km/h, and an operational range of 80km, contingent upon payload specifications. Additionally, its design facilitates easy disassembly for transportation, with dimensions akin to those of a small car.
In July 2023, Thales Defense & Security Inc., a prominent French manufacturer specializing in electrical systems, finalized the acquisition of Advanced Acoustic Concepts (AAC) for an undisclosed sum. This strategic move enables TDSI to broaden its footprint in the US defense sector by enhancing its engineering and industrial capacities. The acquisition entails reinforcing TDSI's US operations and capabilities leveraging AAC's expertise. Advanced Acoustic Concepts LLC, based in the United States, is recognized for its provision of advanced anti-submarine warfare systems.
Major companies operating in the anti-submarine warfare systems market are Raytheon Technologies Corporation (RTX), Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems PLC, L3Harris Technologies Inc., Thales Group, Leonardo S.p.A., Huntington Ingalls Industries Inc., IHI Corporation, Singapore Technologies Engineering Ltd, Rheinmetall Air Defence AG, Fincantieri S.p.A., Elbit Systems Ltd., Israel Aerospace Industries (IAI), Saab AB, Naval Group, Damen Schelde Naval Shipbuilding, Kawasaki Heavy Industries Ltd., Aselsan A.S., Japan Marine United Corporation, Mazagon Dock Shipbuilders Limited, Navantia S.A., Garden Reach Shipbuilders & Engineers Ltd., DSIT Solutions Ltd., Kongsberg Defence & Aerospace (Kongsberg Gruppen ASA)
North America was the largest region in the anti-submarine warfare system market in 2023. The regions covered in the anti-submarine warfare systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the anti-submarine warfare systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Anti-submarine warfare (ASW) systems serve the critical function of detecting, tracking, and eliminating enemy submarines, safeguarding naval forces and securing sea routes. They are essential for protecting maritime operations and ensuring the safety of sea lanes.
The key components of ASW systems include sensors, electronic support measures, and armaments. Sensors are instrumental in detecting and monitoring various environmental phenomena, generating signals in response to these detections. They are deployed across a range of platforms including submarines, surface ships, helicopters, maritime patrol aircraft, and unmanned systems. ASW systems find application across various industries, notably in naval forces and among aerospace and defense contractors.
The anti-submarine warfare system market research report is one of a series of new reports that provides anti-submarine warfare system market statistics, including anti-submarine warfare system industry global market size, regional shares, competitors with a anti-submarine warfare system market share, detailed anti-submarine warfare system market segments, market trends and opportunities, and any further data you may need to thrive in the anti-submarine warfare system industry. This anti-submarine warfare system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The anti-submarine warfare (ASW) systems market consists of sales of fixed wing aircraft, air-dropped ASW weapons, underwater acoustic training targets and sonobuoys. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The anti-submarine warfare system market size is expected to see strong growth in the next few years. It will grow to $22.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The projected growth in the forecast period can be ascribed to several factors, including the escalation of defense budgets, heightened investments in maritime surveillance capabilities, a surge in government funding for defense initiatives, the proliferation of submarines globally, and escalating risks posed to submarines. Key trends expected in this period encompass product innovation, advancements in technology, strategic partnerships and collaborations between defense contractors and governments, the incorporation of advanced stealth capabilities, advancements in data fusion, artificial intelligence, and machine learning applications.
The anticipated rise in defense budgets is poised to drive the expansion of the anti-submarine warfare (ASW) systems market in the foreseeable future. Defense budgets, representing the financial allocations by governments for the support, maintenance, and armament of their military forces, play a crucial role in fueling advancements in ASW systems. These allocations provide essential funding for the research, development, procurement, and deployment of technologies aimed at countering submarine threats and ensuring maritime superiority. An illustrative example comes from April 2023, as outlined in a report by the Stockholm International Peace Research Institute, where global military spending surged by 3.7% in real terms, reaching a historic high of$2.24 trillion in 2022. Of note, European military expenditure experienced a notable upswing, soaring by 13%. Dominating the landscape, the United States, contributing 39% to the world's military spending, and China, with a 13% share, retained their positions as the leading two spenders. Thus, the upward trajectory of defense budgets serves as a catalyst for the expansion of the anti-submarine warfare (ASW) systems market.
Prominent entities within the anti-submarine warfare system domain are actively engaged in the development of cutting-edge technologies, including anti-submarine torpedoes, aimed at mitigating evolving submarine threats and bolstering maritime security. Anti-submarine torpedoes, specifically engineered to incapacitate or destroy submarines, stand as a pivotal component in this endeavor. Notably, in September 2023, BAE Systems, a UK-based provider of defense, aerospace, and information security solutions, in collaboration with Malloy Aeronautics, a UK-based manufacturer of military drone systems, unveiled an inert variant of the Sting Ray training anti-submarine torpedo. Distinguished by its electric-powered vertical take-off and landing capabilities, this anti-submarine torpedo boasts a payload capacity of up to 200kg, speeds reaching 140 km/h, and an operational range of 80km, contingent upon payload specifications. Additionally, its design facilitates easy disassembly for transportation, with dimensions akin to those of a small car.
In July 2023, Thales Defense & Security Inc., a prominent French manufacturer specializing in electrical systems, finalized the acquisition of Advanced Acoustic Concepts (AAC) for an undisclosed sum. This strategic move enables TDSI to broaden its footprint in the US defense sector by enhancing its engineering and industrial capacities. The acquisition entails reinforcing TDSI's US operations and capabilities leveraging AAC's expertise. Advanced Acoustic Concepts LLC, based in the United States, is recognized for its provision of advanced anti-submarine warfare systems.
Major companies operating in the anti-submarine warfare systems market are Raytheon Technologies Corporation (RTX), Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Mitsubishi Heavy Industries Ltd., BAE Systems PLC, L3Harris Technologies Inc., Thales Group, Leonardo S.p.A., Huntington Ingalls Industries Inc., IHI Corporation, Singapore Technologies Engineering Ltd, Rheinmetall Air Defence AG, Fincantieri S.p.A., Elbit Systems Ltd., Israel Aerospace Industries (IAI), Saab AB, Naval Group, Damen Schelde Naval Shipbuilding, Kawasaki Heavy Industries Ltd., Aselsan A.S., Japan Marine United Corporation, Mazagon Dock Shipbuilders Limited, Navantia S.A., Garden Reach Shipbuilders & Engineers Ltd., DSIT Solutions Ltd., Kongsberg Defence & Aerospace (Kongsberg Gruppen ASA)
North America was the largest region in the anti-submarine warfare system market in 2023. The regions covered in the anti-submarine warfare systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the anti-submarine warfare systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Anti-submarine warfare (ASW) systems serve the critical function of detecting, tracking, and eliminating enemy submarines, safeguarding naval forces and securing sea routes. They are essential for protecting maritime operations and ensuring the safety of sea lanes.
The key components of ASW systems include sensors, electronic support measures, and armaments. Sensors are instrumental in detecting and monitoring various environmental phenomena, generating signals in response to these detections. They are deployed across a range of platforms including submarines, surface ships, helicopters, maritime patrol aircraft, and unmanned systems. ASW systems find application across various industries, notably in naval forces and among aerospace and defense contractors.
The anti-submarine warfare system market research report is one of a series of new reports that provides anti-submarine warfare system market statistics, including anti-submarine warfare system industry global market size, regional shares, competitors with a anti-submarine warfare system market share, detailed anti-submarine warfare system market segments, market trends and opportunities, and any further data you may need to thrive in the anti-submarine warfare system industry. This anti-submarine warfare system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The anti-submarine warfare (ASW) systems market consists of sales of fixed wing aircraft, air-dropped ASW weapons, underwater acoustic training targets and sonobuoys. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Anti-Submarine Warfare Systems Market Characteristics3. Anti-Submarine Warfare Systems Market Trends and Strategies32. Global Anti-Submarine Warfare Systems Market Competitive Benchmarking33. Global Anti-Submarine Warfare Systems Market Competitive Dashboard34. Key Mergers and Acquisitions in the Anti-Submarine Warfare Systems Market
4. Anti-Submarine Warfare Systems Market - Macro Economic Scenario
5. Global Anti-Submarine Warfare Systems Market Size and Growth
6. Anti-Submarine Warfare Systems Market Segmentation
7. Anti-Submarine Warfare Systems Market Regional and Country Analysis
8. Asia-Pacific Anti-Submarine Warfare Systems Market
9. China Anti-Submarine Warfare Systems Market
10. India Anti-Submarine Warfare Systems Market
11. Japan Anti-Submarine Warfare Systems Market
12. Australia Anti-Submarine Warfare Systems Market
13. Indonesia Anti-Submarine Warfare Systems Market
14. South Korea Anti-Submarine Warfare Systems Market
15. Western Europe Anti-Submarine Warfare Systems Market
16. UK Anti-Submarine Warfare Systems Market
17. Germany Anti-Submarine Warfare Systems Market
18. France Anti-Submarine Warfare Systems Market
19. Italy Anti-Submarine Warfare Systems Market
20. Spain Anti-Submarine Warfare Systems Market
21. Eastern Europe Anti-Submarine Warfare Systems Market
22. Russia Anti-Submarine Warfare Systems Market
23. North America Anti-Submarine Warfare Systems Market
24. USA Anti-Submarine Warfare Systems Market
25. Canada Anti-Submarine Warfare Systems Market
26. South America Anti-Submarine Warfare Systems Market
27. Brazil Anti-Submarine Warfare Systems Market
28. Middle East Anti-Submarine Warfare Systems Market
29. Africa Anti-Submarine Warfare Systems Market
30. Anti-Submarine Warfare Systems Market Competitive Landscape and Company Profiles
31. Anti-Submarine Warfare Systems Market Other Major and Innovative Companies
35. Anti-Submarine Warfare Systems Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Anti-Submarine Warfare Systems Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on anti-submarine warfare systems market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for anti-submarine warfare systems? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The anti-submarine warfare systems market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Systems: Sensors; Electronic Support Measures; Armament2) by Platform: Submarines; Surface Ships; Helicopters; Maritime Patrol Aircraft; Unmanned Systems
3) by End User: Naval Forces; Aerospace and Defense Contractors
Key Companies Mentioned: Raytheon Technologies Corporation (RTX); Lockheed Martin Corporation; General Dynamics Corporation; Northrop Grumman Corporation; Mitsubishi Heavy Industries Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Raytheon Technologies Corporation (RTX)
- Lockheed Martin Corporation
- General Dynamics Corporation
- Northrop Grumman Corporation
- Mitsubishi Heavy Industries Ltd.
- BAE Systems PLC
- L3Harris Technologies Inc.
- Thales Group
- Leonardo S.p.A.
- Huntington Ingalls Industries Inc.
- IHI Corporation
- Singapore Technologies Engineering Ltd
- Rheinmetall Air Defence AG
- Fincantieri S.p.A.
- Elbit Systems Ltd.
- Israel Aerospace Industries (IAI)
- Saab AB
- Naval Group
- Damen Schelde Naval Shipbuilding
- Kawasaki Heavy Industries Ltd.
- Aselsan A.S.
- Japan Marine United Corporation
- Mazagon Dock Shipbuilders Limited
- Navantia S.A.
- Garden Reach Shipbuilders & Engineers Ltd.
- DSIT Solutions Ltd.
- Kongsberg Defence & Aerospace (Kongsberg Gruppen ASA)
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 17.4 Billion |
Forecasted Market Value ( USD | $ 22.3 Billion |
Compound Annual Growth Rate | 6.4% |
Regions Covered | Global |