Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
Air Independent Propulsion Systems for Submarine Market
Research Report - Global Forecast till 2025
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Copyright Š 2017 Market Research Future.
Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
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Copyright © 2017 Market Research Future.
Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
Summary: Air Independent Propulsion Systems for Submarine Market is Expected to Reach USD 17,430.0 Million 2025, Growing at 2.05% CAGR during the Forecast Period.
Market Overview: The global air independent propulsion systems market is expected to exhibit a solid growth rate over the forecast period, according to the latest research report released by Market Research Future (MRFR). The report pinpoints the growing governmental spending on the military and defense sector as the key driver for the global air independent propulsion systems for submarines market over the forecast period and presents a detailed analysis of the key factors affecting the movement of the market. The top market leaders operating in the global air independent propulsion systems market are also assessed in the report in order to present a clear profile of the market’s competitive landscape to readers. The global air independent propulsion systems market for submarines is mainly driven by the growing recognition of the weakness in the traditional diesel-electric engine design for submarines, i.e. the ship needs to surface every few days to recharge its batteries, leaving it vulnerable to enemy attacks in this period. This has driven the demand for air independent propulsion systems, which can extend the submarine’s capability to stay underwater significantly. The increasing importance of submarines in battle as well as other, logistical purposes is likely to be a major driver for the global air independent propulsion systems market over the forecast period.
The high cost of air independent propulsion systems has been a major restraint on the global market over the last few years. While submarines are an important part of a country’s armed forces, they don’t feature prominently on the top priorities of the government when it comes to upgrading and modernizing the army. This has led to a lack of funding
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Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
to the submarines sector in a number of underdeveloped countries. This is likely to remain the key restraint against the global air independent propulsion systems market over the forecast period, as developed parts of the world have witnessed widespread adoption of air independent propulsion systems for submarines.
Segmentation: The global air independent propulsion systems market is segmented on the basis of type, fit, and region. By type, the global air independent propulsion systems market is segmented into Stirling, MESMA, and fuel cells. By fit, the global air independent propulsion systems market is segmented into line fit and retro fit. By aircraft type, the global commercial aircraft actuation system market is segmented into narrow-body aircraft, wide-body aircraft, and others. The segment of narrow-body aircraft is likely to dominate the global commercial aircraft actuation system market over the forecast period, due to the simple reason that there are more narrow-body aircraft in operation in the commercial airliner industry than wide-body aircraft.
Regional Analysis: Regionally, the global air independent propulsion systems market is segmented into North America, South America, Europe, Asia Pacific, the Middle East, and Africa. North America is likely to dominate the global air independent propulsion systems market in the forecast period due to the dominant presence of the U.S. and Canada in the market. Leading players in the global air independent propulsion systems market for submarines are almost invariably situated in North America or at least have extensive business connections and presence there. This is due to the extensive research operations carried out in the region over the last few years, which have led to establishment of solid infrastructure enabling advanced research and development projects. The U.S. is also among the leading spenders in terms of submarine upgradation and modernization, leading to a growing demand for air independent propulsion systems from the country. The long-running project in the U.S. Navy to replace older Ohio- and Los Angeles-class submarines with newer Columbia- and Virginia-class submarines is likely to be a major driver for the air independent propulsion systems market in North America over the forecast period. Asia Pacific is also likely to play a key role in the growth of the global air independent propulsion systems market over the forecast period due to the growing naval expenditure in countries such as China and India.
Competitive Dashboard: Leading players in the global air independent propulsion systems market include Kongsberg Gruppen ASA, General Dynamics Corporation, Lockheed Martin Corporation, UTC Aerospace Systems, China Shipbuilding Industry Co. Ltd., DCNS SA, Siemens AG, and SAAB AB
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Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
Industry/ Innovation/ Related News: In May 2019, India launched the fourth of its six planned Kalvari-class attack submarines. These submarines are built to enable retrofitting of air independent propulsion systems in the future, keeping in mind the likely prospects of the country being able to develop its own air independent propulsion systems in the coming years.
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Air Independent Propulsion Systems for Submarine Market Research Report - Global Forecast till 2025
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Copyright Š 2017 Market Research Future.