Newark, May 15, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 432.7 million submarine sensor market will reach USD 652.9 million by 2033. Since submarine sensors have grown significantly since naval agencies worldwide use submarines to meet their intelligence, surveillance, and reconnaissance (ISR) and communication needs; furthermore, it is anticipated that higher defence spending in the US, UK, Germany, France, and India will result from the necessity to replace and upgrade the military submarines that are now in use. This will enable the incorporation of better launchers, missiles, and navigational payloads. Submarines can communicate with other ships, command centres, and other submarines by using targeted transmission systems. Even when submerged in water, these sensors reliably communicate and protect systems. Sensors are used by submarines to identify and steer clear of hazards like mines and torpedoes. These sensors can actively generate signals to confuse or disorient possible assailants, or they can passively listen for impending threats.
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Key Insight of the Submarine Sensor Market
North America will account for the largest market size during the forecast period.
The US stands out in the region with its sophisticated naval sector and strong emphasis on maritime security. The need for effective underwater defence and surveillance capabilities fuels the need for sophisticated submarine sensors. Strict naval legislation and security needs have led to the deployment of modern sensor technology. North America's commitment to innovation and R&D, with a focus on anti-submarine warfare systems, fosters steady growth in this market.
The active sensors segment dominated the market with the most significant revenue of USD 186.0 million.
The active sensors segment dominated the market with the most significant revenue of USD 186.0 million. To obtain information about the submarine's surroundings, active sensors produce signals, such as electromagnetic radiation or sound waves, and detect the echoes or reactions. Active sensors are often employed in submarines, such as sonar systems, which include echo sounders and active sonars.
The SSN-nuclear attack segment dominated the market with the most significant revenue of USD 173.0 million.
The SSN-nuclear attack segment dominated the market, with the most significant revenue of USD 173.0 million. There is a growing demand for SSNs, as they are faster, more efficient, and have a longer operational life than traditional diesel-electric submarines.
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Market Dynamics:
Drivers: Better sea-lane security
Fighting a variety of threats, including terrorism, piracy, interstate conflict, natural disasters, migration, and civil war, is part of sea-lane security. For instance, on March 7, 2019, India and Russia signed a $3 billion lease agreement to rent a state-of-the-art nuclear assault submarine. With the submarine's advanced sensors and built-in communication systems, India will be able to attack and protect the maritime area. Submarine sensors are becoming increasingly necessary as countries focus on modernising their navies to safeguard maritime regions.
Restraint: High maintenance cost
High maintenance costs and numerous cyber-security hazards associated with submarine sensors are expected to impede the worldwide submarine sensor market.
Some of the major players operating in the submarine sensor market are:
● Leonardo DRS
● Safran Electronics And Defense
● Raytheon Company
● L3 Technologies Inc.
● Ducommun Incorporated
● Thales Group
● Harris Corporation
● Atlas Elektronik GmbH
● Northrop Grumman Corporation
Key Segments cover in the market:
By Type:
● Passive Sensors
● Active Sensors
● Others
By End-User:
● SSBN-Ballistic Missile
● SSK-Diesel Electric
● SSN-Nuclear Attack
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About the report:
The global submarine sensor market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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