In Airborne Detection Systems for Submarines Market Growing Defense Budget is One of the Major Growt

The global airborne detection systems for submarines market is projected to reach $930.9 million by 2023. 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.

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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. Advantages of sonobuoys, such as lower cost and quicker deployment, over other airborne detection systems for submarines have contributed to their market growth.

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.

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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.

GLOBAL AIRBORNE DETECTION SYSTEMS FOR SUBMARINES MARKET

By Type

• Sonobuoys
• Dipping sonars
• Radars
• Magnetic anomaly detection (MAD) systems

By Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Sweden
• Rest of Europe
• Asia-Pacific (APAC)
• China
• India
• Japan
• South Korea
• Rest of APAC
• Rest of the World (RoW)
• Middle East and Africa
• Latin America

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P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.