Market Share of Submarine Propulsion Systems Industry
The submarine propulsion systems market is semi-consolidated, with some of the prominent players in the submarine propulsion systems market being Naval Group, Rolls Royce PLC, Thyssenkrupp AG, Siemens AG, and General Dynamics Corporation. There are many regional players in the market that support the local government submarine construction programs. Long-term contracts are signed between the propulsion system manufacturers, submarine construction companies, and governments. Rolls-Royce is one of the major manufacturers that designs, manufactures, and provides support for nuclear submarine propulsion systems. The company has previously supported the UK Royal Navy in the construction of nuclear submarines. The development of new propulsion systems to enhance the operability of the submarine with additional features like stealth will help the companies receive new contracts and increase their footprint around the world.
Submarine Propulsion Systems Market Leaders
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Rolls Royce plc
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Naval Group
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Siemens AG
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General Dynamics Corporation
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Thyssenkrupp AG
*Disclaimer: Major Players sorted in no particular order
