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Undersea Warfare Systems Global Market Report 2023
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New York, March 27, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Undersea Warfare Systems Global Market Report 2023” – https://www.reportlinker.com/p06433600/?utm_source=GNW
A. de Electronica Submarina, ECA Group, The Boeing Company, Ultra Electronics Corporation, Abeking & Rasmussen, ACO Marine, Adder Technology, Associated Electrical Industries Limited, Aeromaritime Systembau GmbH, and Aeronautical & General Instruments.
The global undersea warfare systems market grew from $15.75 billion in 2022 to $16.97 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The undersea warfare systems market is expected to grow to $21.07 billion in 2027 at a CAGR of 5.6%.
The undersea warfare systems market consists of sales of submarines, communication systems and mine warfare systems.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The undersea warfare systems are used to defend against undersea threats by enemies to strengthen the nation’s security.Undersea warfare systems are commonly used in naval operations of a particular country to provide security against opposing countries.
It consists of the antisubmarine, offensive and defensive submarine, and mine warfare systems to control and maintain underwater nations’ borders by using various defensive and effective underwater weapons and systems.
North America was the largest region in the undersea warfare systems market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the undersea warfare systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of undersea warfare systems are communication and surveillance systems, sensors and computation systems, countermeasure systems and payloads, unmanned underwater vehicles, and weapon systems.Communication and Surveillance: A system in an undersea warfare system provides surveillance of various communications channels such as emails, phone calls, servers, and others through which data exchange is done and monitors the threat.
The different modes of operation include manned operations, autonomous operations, and remote operations. The various end-users include the navy, air force, and army.
Increasing tensions among various nations due to rising wars and conflicts are expected to propel the growth of the undersea warfare systems market going forward.War is defined as a violent conflict between nations or states.
Undersea warfare systems are commonly used by armed forces to oppose underwater threats to maintain and control war situations and protect national security.For instance, in July 2022, according to the UK Ministry of Defence’s update on the Russia-Ukraine War, Ukraine’s forces were using long-range artillery across the Dnipro River to target bridges, and they attacked two times on the Antonivskiy Bridge in Kherson.
Therefore, the increasing tensions among various nations due to rising wars and conflicts are driving the growth of the undersea warfare systems market. Therefore, the rising number of underwater threats is driving the growth of the undersea warfare systems market.
Technological advancement is the key trend gaining popularity in the undersea warfare systems market.Major companies operating in the undersea warfare systems sector are forced to develop technologically advanced systems to extend their growth in new areas.
For instance, in June 2022, Spear, an Israel-based unmanned aerial solution company, launched thed Ninox 103 drone that uses an autonomous artificial intelligence-based system.This is designed for underwater and undetectable launches from a submarine.
It can also be embedded with point-to-multipoint networking and can fly for up to 50 minutes with a communication range of 10 kilometers while flying at a velocity of 23 mph.
In August 2021, VTG, a US-based company operating in the modernization of defense equipment, acquired ASSETT Inc. for an undisclosed amount. Through this acquisition, VTG aims to strengthen its undersea warfare and unmanned systems technology portfolio and gain reach in the defense enterprise and intelligence community. ASSETT Inc. is a US-based company operating in undersea warfare and unmanned systems technologies.
The countries covered in the undersea warfare systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The undersea warfare systems market research report is one of a series of new reports that provides undersea warfare systems market statistics, including undersea warfare systems industry global market size, regional shares, competitors with undersea warfare systems market share, detailed undersea warfare systems market segments, market trends and opportunities, and any further data you may need to thrive in the undersea warfare systems industry. This undersea warfare systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06433600/?utm_source=GNW
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