Global Airborne Detection Systems for Submarines Market - Growth and Demand Forecast, 2016–2023by Yash Singh Market Research Analyst - Automotive and Transport
The market growth is primarily driven by increasing defense budget coupled with the growing number of conflicts among countries sharing sea borders. Countries, across the globe, are focusing on their defense programs and increasing their defense budget for the procurement of warfare equipment.
On the basis of type, the airborne detection systems for submarines market has been categorized into sonobuoys, dipping sonars, radars, magnetic anomaly detection (MAD) systems. Sonobuoys are estimated to hold the largest share, of 40.0%, in the market in 2017 and are expected to continue dominating the market during the forecast period as well.
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Globally, North America is estimated to hold the largest share in the airborne detection systems for submarines market in 2017, with the U.S. contributing a significant share to the market. This can be attributed to the fact that some of major manufacturers of airborne detection systems meant for submarines are based in the North American region.
With the growing focus of countries, across the world, on anti-submarine warfare (ASW) capabilities, North American countries, such as the U.S. and Canada, too are increasingly working toward enhancing their defense competency with the development and adoption of advanced detection solutions, such as airborne detection systems for submarines.
Companies in the airborne detection systems for submarines market are taking strategic measures to gain more share in the market. These strategic moves include mergers and acquisitions, business expansions, and partnerships. Ultra Electronics Holdings plc is one of the largest manufacturers in the world that supply airborne detection systems for submarines to the U.S. Department of Defense (DoD) and its allies.
Some of the other major players operating in the global airborne detection systems for submarines industry are L3 Ocean systems, ATLAS ELEKTRONIK GmbH, BAE Systems plc, Saab AB, Raytheon Company, Thales Group, Northrop Grumman Corporation, Lockheed Martin Corporation, Kongsberg Gruppen ASA, and General Dynamics Corporation.
Created on May 29th 2018 05:07. Viewed 304 times.
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