Airborne Detection Systems for Submarines Market is in Transformational Growth Mode

Increasing underwater threats and rising defense budget are the major factors behind the growth of the airborne detection systems for submarines market. In 2017, the market generated a revenue of $611.8 million, and it is predicted to advance at a CAGR of 7.2% during the forecast period (2017–2023). Airborne detection systems are comprised of a lightweight mobile detection sensor for tracking and locating submarines. These systems can be deployed on all kinds of airborne platforms, such as fixed-wing aircraft, helicopters, and unmanned aerial vehicles.

Based on type, the airborne detection systems for submarines market is categorized into dipping sonars, radars, sonobuoys, and magnetic anomaly detection systems. Out of these, in 2017, the sonobuoy category held the largest share of over 45.0% in the market. The benefits associated with sonobuoys include low cost and swift deployment, which have escalated the progress of this category. Many small as well as large economies around the world deploy sonobuoys for the detection of submarines in and around their naval bases.

Geographically, in 2017, North America held the largest revenue share of more than 60.0% in the airborne detection systems for submarines market, and it is further predicted to maintain its lead during the forecast period. In this region, the U.S. dominated the market owing to its advanced and strong defense base. The rising international conflicts are increasing the security concerns, which, in turn, is boosting the demand for defense services and products, such as airborne detection systems for submarines.

Nowadays, every country aims to protect themselves from all kinds of enemy attacks, such as those from underwater systems. Various countries around the world are focusing on purchasing defense-related services and products in order to secure themselves from any misadventure by others. For instance, for protecting underwater spaces, airborne detection systems for submarines are widely adopted by the naval departments. Almost all nations’ defense expenditure includes a specific allocation for marine forces that involves spending for weapons, radar systems, and other components used by the navy.

For instance, for FY2018, the U.S. Department of Defense proposed a budget of $639.1 billion, which shows an 8.9% increase from the 2017. Around 27.0% of this defense budget was sanctioned for the Marine Corps of the U.S., which is an increase from $1.68 billion in 2017 to $2.13 billion in 2018. Furthermore, many developing countries in Asia-Pacific have started defense modernization programs, resulting in an increasing spending for land, air, and marine security. Thus, the growing defense budget of countries would result in the airborne detection systems for submarines market prosperity.

Hence, apart from the growing underwater threat and increasing security concerns, submarine modernization drives are helping the airborne detection systems for submarine market prosper.