The global airborne detection systems for submarines market is projected to reach $930.9 million by 2023, according to P&S Intelligence.
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.
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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.
Development of advanced airborne detection systems is a key growth opportunity for the players in the market
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.
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.
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.