Increasing focus on advanced undersea warfare
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the submarine payload and launch systems market in their latest research report. This report also lists five other prominent vendors who are expected to contribute to this market’s growth over the forecast period.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of the following products through various sales channels at retail price.
- Kilo-class submarines (SSK): SSKs are naval diesel-electric submarines made in Russia and are used for anti-shipping and anti-submarine operations in shallow waters.
- Nuclear-powered attack submarine (SSN): SSNs are nuclear-powered and are specifically designed for attacking and sinking other submarines, surface combatants, and merchant vessels.
- Nuclear-powered ballistic missile submarine (SSBN): SSBNs are equipped with ballistic missiles and nuclear warheads. They can hit targets by firing missiles from over 500 miles away and are difficult to detect.
This Technavio report is based on the synthesis, analysis, and interpretation of information about the global submarine payload and launch systems market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
“The growth of the market vendors is dependent on factors such as market conditions, government support, and industry development. As a result, most vendors have started focusing on expanding geographically and improving their product offering to achieve sustainable growth,” says Abhay Kumar Singh – one of Technavio’s key analysts for the Aerospace & Defense vertical.
The report also presents the vendor landscape and a corresponding detailed analysis of the top vendors in the market.
Top five vendors in the submarine payload and launch systems market space
BAE Systems
BAE Systems was founded in 1999, following which it was merged with the defense arm of General Electric, Marconi Electronic Systems, and British Aerospace. It operates in 40 countries globally and is headquartered in London, UK. It manufactures and supplies both conventional and nuclear-powered submarines. It engages in the design and manufacture programs designated to the Astute-class Submarines and Successor nuclear-deterrent submarines. In May 2014, the company supplied the third Astute-class submarine, which was a part of the planned seven submarines for the Royal Navy of the UK. The order for the seven submarines was confirmed in October 2010 after the UK government announced the Strategic Defence and the Security Review 2010.
Key products: Submarines, auxiliary ships, and destroyers.
Daewoo Shipbuilding and Marine Engineering (DSME)
DSME was incorporated in 2000 and is headquartered in Seoul, South Korea. It engages in the manufacture and sales of ships and submarines globally. As of December 2015, the company had 36,000 employees. It reported net revenue of $7.02 billion in FY2015.
Key products: Ships and submarines.
General Dynamics
General Dynamics was established in 1952 and is headquartered in Falls Church, Virginia, US. The company engages in numerous turnkey projects covering the manufacture and supply of submarines, auxiliary ships, and destroyers for naval forces. In December 2011, DSME received a contract from the Indonesian Navy for the production of three submarines and the construction work is expected to be completed by the first half of 2018. In this project, the DSME is working in collaboration with an Indonesian shipbuilding company, PT PAL.
Key products: Design, construction, and life-cycle support services of submarines for the US Navy.
Lockheed Martin
Lockheed Martin was established in 1995 and is headquartered in Bethesda, Maryland, US. It engages in the production, supply, and R&D of advanced technology systems, products, and services to global defense and aerospace industries. It reported a net revenue of $45.6 billion in FY2014 and $46.13 billion in FY2015. Lockheed Martin has supported the US Navy’s submarine program by bringing integrated solutions to complex systems including navigation, sonar, and communications.
Key products: Integrated solutions to complex systems including navigation, sonar, and communications.
Northrop Grumman
Northrop Grumman was established in 1939 and is headquartered in Falls Church, Virginia, US. The company provides systems, products, and solutions that focus on providing aerospace, electronics, information systems, and technical services to the government and commercial customers across the globe. As of December 2015, the company had 65,000 employees. It reported a net revenue of $23.98 billion in FY2014 and $23.53 billion in FY2015.
Key products: Communication systems, sensors, signal processing, and electronic warfare systems.
To know more about these vendors and the market, read the Global Submarine Payload and Launch Systems Market report.
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