NEW YORK, April 30, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, the global airborne detection systems for submarines market is projected to reach $930.9 million by 2023, the market growth is primarily driven by increasing defense budget coupled with the growing number of conflicts among countries sharing sea borders. Countries, across the globe, are focusing on their defense programs and increasing their defense budget for the procurement of warfare equipment. They are taking such measures to strengthen their defense capabilities and protect themselves from any kind of enemy attack, including underwater threats and warfare activities. Thus, increase in defense spending is resulting in the growing demand for advanced airborne detection systems for submarines.
On the basis of type, the airborne detection systems for submarines market has been categorized into sonobuoys, dipping sonars, radars, magnetic anomaly detection (MAD) systems. Sonobuoys are estimated to hold the largest share, of 40.0%, in the market in 2017 and are expected to continue dominating the market during the forecast period as well. Advantages of sonobuoys, such as lower cost and quicker deployment, over other airborne detection systems for submarines have contributed to their market growth.
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Research and development activities are paving the way for innovative technologies that can detect submarines through airborne platforms. Airborne platforms, such as helicopters and fixed-wing aircraft, are equipped with detection systems or sensors for tracking submarines. MAD system is one such recent advancement in the airborne detection systems for submarines market. It is a highly sensitive magnetometer that detects submarines by tracking changes in the Earth’s magnetic field caused by submarines.
Various players in the airborne detection systems for submarines market are working toward the development of advanced MAD sensor technology for detecting submarines through airborne platforms. For instance, CAE Inc. is one of the leading manufacturers that design, develop, and integrate digital MAD systems. Magnetic anomaly detection-extended role (MAD-XR) is the latest MAD system developed by the company. MAD-XR systems are lightweight, small in size, and require less power, which make them suitable for smaller platforms, such as unmanned aerial systems, helicopters, and small fixed-wing aircraft. Hence, technological advancements can be viewed as a key growth opportunity for the players operating in the industry.
Browse report overview with detailed TOC on "Airborne Detection Systems for Submarines Market, by Type (Sonobuoys, Dipping Sonars, Radars, Magnetic Anomaly Detection Systems), by Geography (U.S., Canada, U.K., Germany, France, Sweden, China, India, Japan, South Korea) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2016–2023"at:https://www.psmarketresearch.com/market-analysis/airborne-detection-systems-submarines-market
Globally, North America is estimated to hold the largest share in the airborne detection systems for submarines market in 2017, with the U.S. contributing a significant share to the market. This can be attributed to the fact that some of major manufacturers of airborne detection systems meant for submarines are based in the North American region. With the growing focus of countries, across the world, on anti-submarine warfare (ASW) capabilities, North American countries, such as the U.S. and Canada, too are increasingly working toward enhancing their defense competency with the development and adoption of advanced detection solutions, such as airborne detection systems for submarines.
Besides, several major manufacturers in the airborne detection systems for submarines market are based in North America. Some of them are L-3 Communications Holdings Inc., General Dynamics Corporation, and Lockheed Martin Corporation.
Companies in the airborne detection systems for submarines market are taking strategic measures to gain more share in the market. These strategic moves include mergers and acquisitions, business expansions, and partnerships. Ultra Electronics Holdings plc is one of the largest manufacturers in the world that supply airborne detection systems for submarines to the U.S. Department of Defense (DoD) and its allies.
Some of the other major players operating in the global airborne detection systems for submarines industry are L3 Ocean systems, ATLAS ELEKTRONIK GmbH, BAE Systems plc, Saab AB, Raytheon Company, Thales Group, Northrop Grumman Corporation, Lockheed Martin Corporation, Kongsberg Gruppen ASA, and General Dynamics Corporation.
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