PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463064
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1463064
The global underwater warfare market size is expected to reach USD 6.70 billion by 2032, according to a new study by Polaris Market Research. The report "Underwater Warfare Market Share, Size, Trends, Industry Analysis Report, By System (Unmanned Systems, Electronic Warfare Systems, Sonar Systems, Weapons Systems); By Capability; By Platform; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The underwater warfare market is growing strongly, driven by a combination of geopolitical tensions, technological advancements, concerns about maritime security, and higher investments in naval capabilities. Countries worldwide are aiming to protect their maritime interests, leading to a greater emphasis on improving underwater warfare capabilities. Changes in geopolitics and disputes over territories have increased the focus on securing maritime borders, prompting nations to invest in advanced underwater defense systems for detecting, deterring, and responding to potential threats.
The COVID-19 epidemic has had a serious negative effect on the defense sector. Dominant military firms experienced a sharp decline in production rate as a result of the supply chain disruption. Nonetheless, a number of geopolitical confrontations have demonstrated that diverse naval powers must modernize their warfare techniques. This guarantees maritime and coastal security, which increases the need for underwater warfare systems.
The advancement of anti-submarine warfare (ASW) systems significantly improves the effectiveness and security of underwater warfare operations. With nations globally prioritizing the strengthening of their naval capabilities, countering the submarine threat has become paramount. Progress in sonar technologies, signal processing, and data analytics has led to the development of more sophisticated ASW systems capable of detecting, tracking, and neutralizing enemy submarines with increased accuracy. These systems integrate both active and passive sonar technologies, along with advanced sensors, to enhance situational awareness in underwater environments. Furthermore, the integration of unmanned underwater vehicles (UUVs) equipped with specialized ASW sensors allows for continuous surveillance and swift response capabilities. Overall, the advancement of ASW systems not only protects naval assets from submarine threats but also provides a strategic advantage by denying adversaries the ability to operate stealthily beneath the surface.
The unmanned design segment dominated the market in 2023, driven by its application in underwater missions, such as surveillance and mine countermeasures are becoming more and more in demand.
The surface ships segment led the market in 2023 and is expected to maintain its dominance due to its ability to detect and track submarines. Surface ships are outfitted with robust sonar systems that can detect submerged objects using dipping sonar.
North America holds a significant revenue share in the global Underwater Warfare market, driven by the region's strong focus on defense spending, allowing for significant investment in underwater warfare technologies.
The global key market players include Thales, BAE Systems plc, ATLAS ELEKTRONIK, Aish Technologies, Huntington Ingalls Industries, Naval Group, ASELSAN, L3Harris Technologies, Saab AB, General Dynamic Corporation, Raytheon Technologies and Elbit Systems Ltd.
Polaris Market Research has segmented the Underwater Warfare market report based on system, capability, platform and region: