Submarine Combat Systems Market | Industry Analysis and Market Forecast to 2022 | MarketsandMarkets

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Submarine Combat Systems Market Industry
Analysis and Market Forecast to 2022
MarketsandMarkets
Submarine Combat Systems Market is estimated to
be valued at USD 4.97 Billion in 2016 and is
projected to reach USD 11.67 Billion in 2022, at
a CAGR of 15.3. The electronic support measure
system segment is projected to witness high
growth during the forecast period. Based on
system, the electronic support measure system
segment of the submarine combat systems is
projected to grow at a higher CAGR during the
forecast period. Enhancement in sensors and
armament technologies have resulted in better
anti-submarine warfare technologies. Electronic
support measures systems are required for
defensive measures and secure communications of
submarines. These systems use different
technologies to
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increase submarines capabilities of
survivability and stealth by reducing chances of
detection by enemy platforms, avoidance of
incoming threats. Browse 106 market data Tables
and 82 Figures spread through 186 Pages and
in-depth TOC on "Submarine Combat Systems Market
- Global Forecast to 2022" https//w3.heraldkeepe
rs.com/newsroom/reportsandreports/submarine-
combat-systems-market-worth-1167-billion-usd-by-20
22// The retrofit segment is estimated to witness
highest growth during the forecast
period. Retrofit of submarines are essential for
submarines mid-life upgradation. The new
systems installed on the submarines are cost
efficient methods to modernize submarines
systems. Naval forces across the world are
focusing on upgrading submarines to enhance
their anti-submarine warfare techniques. Hence,
defense agencies are increasing their budgets for
the procurement of new generation sensors and
submarine combat systems. Europe is the largest
market for retrofit during the forecast
period. https//www.marketsandmarkets.com/Market-R
eports/submarine-combat- system-market-257188250.
html Europe is expected to witness highest growth
in retrofit market during the forecast
period. Cold war period saw a huge investment in
submarine platforms. After end of cold war,
submarines induced in late 1990s are estimated
to undergo mid- life upgrades. Russia is
expected to be main contributor to submarine
combat systems market during the forecast period.
The older submarines are likely to go
upgradation program and thus drive the retrofit
market of submarine combat systems. The growth
would be seen in Europe and Asia Pacific region
owing to their new submarine acquisition and
submarine upgradation program. The Asia-Pacific
region is estimated to have accounted for the
largest share of the submarine combat systems
market in 2016, followed by Europe and North
America. Recent geopolitical developments such
as, the South China Sea dispute between China
and its neighboring countries such as, Taiwan,
Brunei, Malaysia, Philippines, and Vietnam over
Spratly and Paracel islands is a major factor in
the high investments in naval assets. In Europe,
Russias growing maritime assertiveness is
likely to drive the demand for submarine combat
systems. These factors have indirectly fueled the
growth of the market. The major players
identified in submarine combat systems are
Lockheed Martin (U.S), BAE Systems (UK),
Raytheon (U.S.) and Atlas Elektronik
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(Germany). These key players have adopted the key
strategies of contracts and new product
developments to strengthen their position in the
sonar system market. About MarketsandMarkets Mar
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