Anti-Submarine Warfare Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 17.98 Billion |
| Market Size (2029) | USD 22.72 Billion |
| CAGR (2024 - 2029) | 5.02 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Anti-Submarine Warfare Market Analysis
The Anti-Submarine Warfare Market size is estimated at USD 17.98 billion in 2024, and is expected to reach USD 22.72 billion by 2029, growing at a CAGR of 5.02% during the forecast period (2024-2029).
Anti-submarine warfare is critical for protecting the strategic speed and operational agility of naval forces around the world, as the proliferation of new technologies is dramatically affecting the operational planning and execution of missions of both friendly and hostile forces. With counter- and anti-denial strategies evolving as a crucial part of implemented maritime strategies of key naval forces, anti-submarine warfare has become vital in protecting maritime assets against a swift, stealthy attack from hostile forces operating below the surface of the water.
The ongoing R&D toward the development of advanced maritime technologies, such as stealth submarines and unmanned marine systems, is envisioned to inspire potential investments in developing countermeasures, such as enhanced range-sonar systems, that can detect stealth submarines and other immersed hostile craft. However, operational complexities and high costs involved in the development of anti-submarine warfare systems may pose a challenge to market growth.
Anti-Submarine Warfare Market Trends
Submarines to WItness Highest Growth During the Forecast Period
The submarines segment is expected to grow at a high CAGR owing to their ability to change depth and their quietness, which aids detection. Military powerhouses, such as the United States, the United Kingdom, China, and India, are focused on augmenting their naval firepower, and several fleet modernization and procurement contracts are underway to address the evolving threats to their national security. For instance, in December 2022, the US Navy awarded a USD 5.1 billion contract to General Dynamics to conduct advanced construction of critical components for the US Navy's future Columbia-class submarines.
The US Navy has also been actively implementing force structure expansion plans, aiming to reach its 355-ship goal by FY 2034 through a mix of service life extensions and new construction. In this regard, in 2021, the US Navy received a Los Angeles-class attack submarine. Recently, in March 2023, Australia announced its plan to build a nuclear-powered submarine with the help of the US and UK and signed an agreement called the Aukus. The entire program is projected to cost between USD 268-368 billion. Similar induction programs are envisioned to drive the submarine segment during the forecast period.
Asia-Pacific to Witness Highest Growth During the Forecast Period
The strengthening of the strategic military alliances between the United States and several Asia-Pacific sovereign nations and subsequent reinforcement of military deployment and intervention has resulted in a complex scenario, urging rapid modernization of defense capabilities of regional countries, such as China, to safeguard their vested interests.
China has invested its vast technological prowess toward the indigenous development of several weapon systems to foster its military prowess over all three platforms- land, air, and water. China is also developing large, smart, and relatively low-cost crewless submarines with long endurance capacity to perform a wide range of missions, from reconnaissance to mine placement to even suicide attacks against enemy vessels. In August 2023, China conducted anti-submarine exercises in the South China Sea as part of efforts to hone its capabilities amid rising maritime tensions with its neighbors and their allies.
On the contrary, the increasing interest of the Chinese People's Liberation Army Navy (PLAN) in the Indian Ocean region has led the Indian Navy to rapidly invest in anti-submarine ships, such as the Kamorta-class corvette, long-range maritime reconnaissance aircraft such as Boeing P-8 Poseidon and ships such as the Saryu-class patrol vessel, among others. Australia also envisions boosting its submarine fleet with the induction of six Barracuda class submarines based on the Scorpene-class. Several other programs are underway in the region, bolstering the growth prospects of the market in focus during the forecast period.
Anti-Submarine Warfare Industry Overview
The anti-submarine warfare market is fragmented, with many global players present in the market. Some of the prominent players in the market are Lockheed Martin Corporation, RTX Corporation, Northrop Grumman Corporation, Saab AB, and THALES. To gain long-term contracts and expand their global presence, players are investing significantly in the procurement of new naval assets.
Furthermore, continuous R&D, partnerships, and expansions are fostering the advancements in accuracy and efficiency of integrated weapon technologies and associated products and solutions of naval combat systems with anti-submarine warfare capabilities. For instance, in April 2021, THALES signed a contract with Lockheed Martin as a tier-one supplier for the delivery of up to 55 airborne anti-submarine warfare sonars. Likewise, in April 2022, Saab announced a new 10,000 sq. ft. Anti-Submarine Warfare (ASW) production facility in Rhode Island, the US. The facility will also house the Autonomous and Undersea Systems Division of Saab AB.
Anti-Submarine Warfare Market Leaders
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Lockheed Martin Corporation
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Saab AB
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THALES
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RTX Corporation
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Northrop Grumman Corporation
*Disclaimer: Major Players sorted in no particular order
Anti-Submarine Warfare Market News
- September 2023: BAE Systems plc awarded contracts to A&P, and Cammell Laird awarded contracts to build units for the Royal Navy's Type 26 Frigates. The advanced anti-submarine warfare vessels are being constructed at BAE Systems' site in Scotland.
- July 2023: Damen Naval signed a contract with RH Marine for the new Anti-Submarine Warfare (ASW) Frigates. RH Marine will supply the Integrated Mission Management System (IMMS), the Integrated Navigation Bridge System (INBS), and the Integrated Platform Management System (IPMS) for each of the four frigates for the Dutch and Belgian Navies.
Anti-Submarine Warfare Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 System
- 5.1.1 Sensors
- 5.1.2 Electronic Support Measures
- 5.1.3 Armament
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5.2 Platform
- 5.2.1 Submarines
- 5.2.2 Surface Ships
- 5.2.3 Helicopters
- 5.2.4 Maritime Patrol Aircraft
- 5.2.5 Unmanned Systems
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 France
- 5.3.2.3 Germany
- 5.3.2.4 Russia
- 5.3.2.5 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
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6.2 Company Profiles
- 6.2.1 BAE Systems plc
- 6.2.2 Lockheed Martin Corporation
- 6.2.3 RTX Corporation
- 6.2.4 THALES
- 6.2.5 General Dynamics Corporation
- 6.2.6 Saab AB
- 6.2.7 L3Harris Technologies Inc.
- 6.2.8 Northrop Grumman Corporation
- 6.2.9 Safran SA
- 6.2.10 Elbit Systems Ltd.
- 6.2.11 Kongsberg Defense & Aerospace (Kongsberg Gruppen ASA)
- 6.2.12 TERMA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Anti-Submarine Warfare Industry Segmentation
The market for anti-submarine warfare includes all the usual parts of dividing defense forces. It includes plans to buy, upgrade, and modernize naval assets that can fight submarines to make both the global maritime forces and their opponents stronger. Anti-submarine warfare relates to underwater warfare that uses surface warships, aircraft, submarines, or other platforms to find, track, or destroy enemy submarines.
The anti-submarine warfare market is segmented by system and platform. By system, the market is segmented into sensors, electronic support measures, and armaments. By platform, the market is segmented into submarines, surface ships, helicopters, maritime patrol aircraft, and unmanned systems. The report also covers the market sizes and forecasts for the anti-submarine warfare market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
| System | Sensors | |
| Electronic Support Measures | ||
| Armament | ||
| Platform | Submarines | |
| Surface Ships | ||
| Helicopters | ||
| Maritime Patrol Aircraft | ||
| Unmanned Systems | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | United Kingdom |
| France | ||
| Germany | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Rest of the World |
Anti-Submarine Warfare Market Research FAQs
How big is the Anti-Submarine Warfare Market?
The Anti-Submarine Warfare Market size is expected to reach USD 17.98 billion in 2024 and grow at a CAGR of 5.02% to reach USD 22.72 billion by 2029.
What is the current Anti-Submarine Warfare Market size?
In 2024, the Anti-Submarine Warfare Market size is expected to reach USD 17.98 billion.
Who are the key players in Anti-Submarine Warfare Market?
Lockheed Martin Corporation, Saab AB, THALES, RTX Corporation and Northrop Grumman Corporation are the major companies operating in the Anti-Submarine Warfare Market.
Which is the fastest growing region in Anti-Submarine Warfare Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Anti-Submarine Warfare Market?
In 2024, the North America accounts for the largest market share in Anti-Submarine Warfare Market.
What years does this Anti-Submarine Warfare Market cover, and what was the market size in 2023?
In 2023, the Anti-Submarine Warfare Market size was estimated at USD 17.08 billion. The report covers the Anti-Submarine Warfare Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Anti-Submarine Warfare Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Anti-Submarine Warfare Industry Report
Statistics for the 2024 Anti-Submarine Warfare market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Anti-Submarine Warfare analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
