Report description overview:
The new report now available on ASDReports, offers detailed analysis of the global submarine market with market size forecasts covering the next ten years. This report will also analyze factors that influence demand for submarines, key market trends and challenges faced by industry participants. In particular, it provides an in-depth analysis of the global submarine market size and drivers, recent developments and industry challenges and SWOT analysis of the submarine market.
Swedish Defence Company Saab has recently signed a letter of intent with the Swedish Defence Materiel Administration for support, development, design and production of submarines and other underwater systems until 2024.
The letter of intent includes the potential of orders that would be worth more than a staggering $1.6 billion.
The total global submarine market is expected to be cumulatively worth over US$281 billion across the forecast period. The market, which is estimated at US$19 billion in 2014, is set to rise by a CAGR of just under 5%, to just under US$32 billion by 2024. North America is expected to constitute 32% of the market during the forecast period with a total spending of US$88.8 billion. In spite of the budget sequestration measures, the US still has the highest spend in the sector and is almost equal to the spending in Asia-Pacific, which is the second largest spending region.
Source: ASDReports - Market Research
Date: Jul 29, 2014