Submarines Market Set To Reach $24.44 Billion By 2029 Amidst Geopolitical Tensions

(MENAFN- GlobeNewsWire - Nasdaq) The submarines market is set for significant growth, increasing from $19.86 billion in 2024 to $24.44 billion by 2029, fueled by factors like geopolitical tensions, naval modernization, and emerging maritime threats. Key trends include advancements in submarine-launched ballistic missile technology and cooperative naval defense initiatives. Major players like Lockheed Martin, Hyundai, and General Dynamics drive innovation, while strategic partnerships strengthen capabilities. North America leads, both currently and in forecasted growth.

Dublin, April 16, 2025 (GLOBE NEWSWIRE) -- The "Submarines Market Report 2025" has been added to ResearchAndMarkets.com's offering.

The submarines market is on a trajectory of steady growth, with its size expanding from $19.86 billion in 2024 to an anticipated $24.44 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.1%. This progress is driven by naval force modernization programs, emerging maritime threats, and advances in underwater technology. A significant focus is on developing submarine-launched ballistic missile (SLBM) capabilities and enhanced modular payload systems.

Significant investment in submarines is fueling market expansion, as governments worldwide enhance their naval capacities. For instance, the UK Ministry of Defence reported a 23% increase in shipbuilding expenditure in 2022/23, marking an addition of over $1.2 billion. These investments underscore a strategic emphasis on standing up to global security challenges and closing naval capability gaps.

The sector's growth is also supported by rising global terrorism threats. Submarines, with their stealth and surveillance features, are pivotal in counter-terrorism and special operations. This is underscored by a reported increase in terrorist attack lethality, further cementing submarines' role in modern naval defense.

Prominent companies like Huntington Ingalls Industries (HII) are advancing submarine technology through initiatives such as the launch of the Virginia-class attack submarine by the US Navy. These submarines represent pinnacle technology, enabling diverse missions from intelligence gathering to anti-submarine warfare. Enhanced living conditions tailored to mixed-gender crews illustrate the adaptability of these advanced vessels.

Partnerships play a crucial role in strategic market advancements. Notably, ThyssenKrupp Marine Systems and Mazagon Dock Shipbuilders have collaborated to boost India's submarine production capabilities. Such alliances aim to merge technological expertise and market expansion, ensuring resilient and modernized maritime defense capabilities.

The acquisition landscape also highlights growth strategies in the sector, exemplified by BW Digital Pte. Ltd.'s acquisition of Hawaiki Submarine Cable Limited, enhancing digital infrastructure capabilities in the Asia-Pacific region.

The market is characterized by a broad array of submarine types, from nuclear-powered to ballistic missile submarines, serving both defense and civilian purposes including surveillance and environmental monitoring.

Major industry players include Lockheed Martin, Mitsubishi Heavy Industries, and Northrop Grumman, among others. These companies continue to innovate and adapt to technological trends and regional demands, ensuring competitive positioning in the global market.

Geographically, North America was the largest market in 2024 and is projected to see the fastest growth. This encompasses a wide range from the Asia-Pacific to Western Europe, highlighting the global nature and strategic importance of the submarine market.

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Report Scope

This report addresses key inquiries concerning the largest and fastest-growing markets for submarines, their connection to the broader economy, demographics, and related sectors. It meticulously explores market characteristics, size, segmentation, regional and country analyses, competitive landscapes, market shares, trends, and strategies. The report traces historic growth and forecasts future market trajectories by geography.

Market Insights:

• Comprehensive market characteristics and definitions.
• Market size data, including historical growth and future developments.
• Consideration of major market influences, such as geopolitical tensions, inflation, and interest rate challenges.
• Segmented market breakdowns for targeted insights.
• Regional and country-specific market analyses, including COVID-19 growth trajectories.
• Competitive landscape analysis featuring market shares and leading companies.
• Strategic recommendations for growth in a post-crisis environment.

Markets Covered: Nuclear Powered Submarine, Diesel Electric Submarine, Ballistic Missile Submarine

Platforms: Commercial, Military

Applications: Surveillance, Combat, Marine Environmental Monitoring, Others

Key Companies Mentioned: Lockheed Martin Corporation, Hyundai Heavy Industries Co. Ltd., General Dynamics Corporation, Mitsubishi Heavy Industries Ltd., Northrop Grumman Corporation.

Geographical Coverage: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Regional Coverage: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Time Series: Includes five years historic and ten years forecast.

Key Attributes

Report Attribute	Details
No. of Pages	175
Forecast Period	2025-2029
Estimated Market Value (USD) in 2025	$20.84 Billion
Forecasted Market Value (USD) by 2029	$24.44 Billion
Compound Annual Growth Rate	4.1%
Regions Covered	Global

Key Topics Covered
1. Executive Summary
2. Submarines Market Characteristics
3. Submarines Market Trends and Strategies
4. Submarines Market - Macro Economic Scenario
5. Global Submarines Growth Analysis and Strategic Analysis Framework
6. Submarines Market Segmentation
7. Submarines Market Regional and Country Analysis
8. Asia-Pacific Submarines Market
9. China Submarines Market
10. India Submarines Market
11. Japan Submarines Market
12. Australia Submarines Market
13. Indonesia Submarines Market
14. South Korea Submarines Market
15. Western Europe Submarines Market
16. UK Submarines Market
17. Germany Submarines Market
18. France Submarines Market
19. Italy Submarines Market
20. Spain Submarines Market
21. Eastern Europe Submarines Market
22. Russia Submarines Market
23. North America Submarines Market
24. USA Submarines Market
25. Canada Submarines Market
26. South America Submarines Market
27. Brazil Submarines Market
28. Middle East Submarines Market
29. Africa Submarines Market
30. Submarines Market Competitive Landscape and Company Profiles
31. Submarines Market Other Major and Innovative Companies
32. Global Submarines Market Competitive Benchmarking and Dashboard
33. Key Mergers and Acquisitions in the Submarines Market
34. Recent Developments in the Submarines Market
35. Submarines Market High Potential Countries, Segments and Strategies
36. Appendix
The major companies featured in this Submarines market report include:

• Lockheed Martin Corporation
• Hyundai Heavy Industries Co. Ltd.
• General Dynamics Corporation
• Mitsubishi Heavy Industries Ltd.
• Northrop Grumman Corporation
• BAE Systems plc
• Larsen & Toubro Limited
• Kawasaki Heavy Industries Ltd.
• Huntington Ingalls Industries Inc.
• Fincantieri
• ThyssenKrupp Marine Systems GmbH
• China Shipbuilding Industry Corporation
• Babcock International Group
• United Shipbuilding Corporation
• Saab AB
• Kongsberg Gruppen ASA
• Damen Shipyards Group
• Naval Group
• Rubin Design Bureau
• Navantia S.A.
• Mazagon Dock Shipbuilders Limited
• Daewoo Shipbuilding & Marine Engineering Co. Ltd.
• Naviris
• OSK-ShipTech A/S
• Leonardo - Fincantieri S.p.A.
• Howaldtswerke-Deutsche Werft GmbH
• TKMS Blohm + Voss

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