Article -> Article Details
| Title | What are Factors Fueling Sales of Airborne Submarine Detection Systems? |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Airborne Detection Systems for Submarines Market |
| Owner | industrytrends |
| Description | |
| The growing defense budget of many countries is a major factor fueling the sales of airborne detection systems for submarines across the world. Due to the increasing threats from terrorist organizations, rising conflicts between nations, and the growing concerns raised over national security, the defense expenditure of several countries has increased massively over the last few years. Furthermore, many nations are rapidly modernizing their defense programs and strengthening their defense capabilities, with the purchase of advanced weapons and machinery. Similarly, there has been a sharp rise in the naval expenditure of developing nations in the recent times. This high defense spending boosted the procurement of various advanced submarine detection systems and machines. Besides this, the increasing focus on naval warfare and anti-submarine warfare (ASW) is also contributing heavily toward the surging sales of these weapons systems all over the globe. Due to these factors, the global airborne detection systems for submarines market is predicted to register huge growth in the coming years. Dipping sonars, magnetic anomaly detection (MAD) systems, radars, and sonobuoys are the main types of airborne detection systems used in submarines throughout the world. Out of these, the usage of the so no buoy detection systems was observed to be the highest during the last few years, which in turn caused the rapid advancement of this category in the airborne detection systems for submarines market. This is because of the numerous advantages of these systems over the other detection systems such as faster deployment time and lower costs. Many countries, especially developing nations, have deployed these systems for submarine tracking and detection. Geographically, the North American airborne detection systems for submarines market recorded the highest growth in 2017, as per the findings of the market research company, P&S Intelligence. The U.S. dominated the North American market in the past, on account of the country’s high defense expenditure and the presence of numerous airborne detection systems manufacturing companies in the country. In addition to this, the large-scale procurement of various advanced naval weapons systems and equipment by the country further boosted the progress of the U.S. market over the last few years. On the basis of type, the airborne detection systems for submarines market is categorized into sonobuoys, dipping sonars, radars, and magnetic anomaly detection systems. The sonobuoy detection systems for submarines held the largest in the market share, with an estimated contribution of more than 45.0% in 2017. The advantages of sonobuoys, such as low cost and quick deployment over other detection systems, have benefited the growth of this category in the market. Numerous countries have deployed sonobuoys for detecting and tracking submarines. Many large as well as small economies across the globe, make use of sonobuoys for submarine detection, under their naval applications. North America held the largest market share in the airborne detection systems for submarines market, with an estimated contribution of more than 60.0% in 2017. The U.S. acquired the largest market share in this region, due to its strong and advanced defense base. The country is considered to be one of the most powerful nations when it comes to the defensive capabilities. Rising international conflicts raise security concerns in the nation, which in turn increases the need for defense products and services, including airborne detection systems for submarines, in the country. Thus, it is certain that the sales of airborne submarine detection systems will increase considerably in the future years, primarily due to the mushrooming investments being made in the defense sector by the governments of many countries and the increasing procurement of advanced defense equipment by several countries around the world. | |