![Undersea Warfare Systems Market, Industry Analysis & Forecast 2024 [BIS Research]](https://d1tlrxy0mfxnyo.cloudfront.net/thumbnail/474768/c8d76fba-17d4-dd88-7c53-58210561edae.jpg?width=649)
The Undersea Warfare Systems Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 6.92% during the forecast period of 2019 to 2024. North America is the most prominent region for the growth of the undersea warfare systems market with the U.S. acquiring the highest market share in 2019. Major European countries such as the U.K., Germany, France, Spain, and Italy, are the most prominent countries after North America for growth of the undersea warfare systems market.
Read Report Overview: Undersea Warfare Systems Market
The global undersea warfare systems market has gained widespread significance in naval applications including anti-submarine warfare, mine countermeasures, and anti-torpedo activities, among others. Undersea warfare systems manufacturers have received multiple contracts from various naval forces for the development of undersea warfare systems. The ongoing development activities and increasing threats from underwater weapon systems are likely to propel the demand for undersea warfare systems during the forecast period, 2019-2024.
Market Segmentation
The undersea warfare systems market (on the basis of system type) is further segmented into weapons and countermeasures, sensors and sonars, communication systems, unmanned systems, and airborne detection systems. The weapons and countermeasures market acquired the highest market share in 2018 and is expected to maintain its leading position during the forecast period, 2019-2024. Furthermore, the weapons and countermeasures market is expected to acquire ~36.54% of the global undersea warfare systems market by 2024. The highest procurement of weapons and countermeasure systems is influenced by the need for protecting the country from growing undersea threats.
The undersea warfare systems market is segregated by region under four major geographies, namely North America, Europe, APAC, and Rest-of-the-World. Data for each of these regions (by country) is also provided.
Key Companies in the Global Undersea Warfare Systems Industry
The key market players in the global undersea warfare systems market include Raytheon Inc., BAE Systems, Northrop Grumman, SAAB, Harris Corporation, Kongsberg Gruppen, Saab AB, Thales Group, Boeing, Atlas Electronik GmbH, ECA Group, General Dynamics and Ultra Electronics, among others.
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Key Questions Answered in this Report:
• What are the expected major driving forces that tend to increase the demand for the global undersea warfare systems market during the forecast period, 2019-2024?
• What are the expected major challenges inhibiting the growth of the global undersea warfare systems?
• Who are the key players in the global undersea warfare systems, and what are their respective competitive benchmarking?
• What is the expected revenue to be generated by the global undersea warfare systems by system type, and what are the estimates by 2024?
• How is each segment of the global undersea warfare systems expected to grow during the forecast period, and what is the expected revenue to be generated by each of the segments by the end of 2024?
• What are the expected trends in the global undersea warfare systems across different regions, the expected market value in 2019, and market estimates by 2024?
• What are the new strategies adopted by the existing market players to make a mark in the industry?
The global undersea warfare systems market is expected to witness a significant growth over the forecast period 2019-2024, due to the growing demand for underwater security.
Moreover, there are various countries that are actively increasing their defense spending to procure defense products and equipment in order to improve their military strength.
USW scenarios are now more focused on modern diesel-electric submarine and less-familiar littoral environments.
Almost all the undersea warfare systems are equipped with sonar systems for achieving accurate navigation for the detection of the target.
These underwater sound navigations and ranging systems have harmful effects on marine animals including whales and dolphins, among others.
Moreover, there are several non-profit organizations such as International Fund for Animal Welfare (IFAW) that are continuously working toward the protection of marine life from the ill effects of the underwater systems.
