Global Submarine Sensor Market : Snapshot
The global submarine sensor market is anticipated to expand at a compound annual growth rate of 3.6% during the forecast period 2017 to 2025, rising from a valuation of US$230.48 mn in 2016 to US$315.17 mn by 2025.
Submarine sensors have grown to be an integral part of the defense sector in the recent years. Submarine sensors have witnessed significant growth during last two decade owing to increased usage of submarines by naval agencies across the world to address their intelligence, surveillance, and reconnaissance, (ISR) and communication requirements. The advances in acoustic sensor technology have positively contributed to the growth of the submarine sensors market. Consequently, the adoption of submarine sensor is growing rapidly in applications ranging from marine environmental monitoring to underwater communication. Moreover, the paradigm shift towards the adoption of acoustic sensors and sonar sensors is anticipated to result in healthy growth of submarine sensor market around the globe.
Acoustic Sensors to Account for Dominant Share in Market
Based on type of sensor, the global submarine sensor market has been segmented into sonar sensor, acoustic sensor, fiber optic sensor and electromagnetic sensor. Acoustic sensors garnered the maximum revenue in 2016, and are anticipated to expand at significant compound annual growth rate during the forecast period. The electromagnetic sensors are anticipated to witness sluggish growth during the forecast period. On the contrary, acoustic sensor help detect sound “pings” in order to determine the contours, speed and range of an enemy ship, submarine or approaching weapon.
Acoustic sensors are used for anti-submarine warfare and mine countermeasures. The submarine force is making significant, rapid improvements in acoustic sensors and processing. For acoustic sensors, emerging technologies will help expand the possible location options for outboard sensors, while also improving the overall performance of these sensors even at higher submarine speeds, and reduce their cost and complexity.
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Marine Environmental Monitoring and Detection of Oil Resources to Remain Lucrative Applications
Submarine sensor market, by submarine type has been classified into nuclear-powered attack submarine (SSN), ballistic missile submarines (SSBN) and diesel electric submarine (SSK). Nuclear-powered attack submarine (SSN) were the largest contributor to the market in 2016 and accounted for a substantial share of the global market. Diesel Electric Submarine (SSK) are estimated to record decent growth during the forecast period.