2014-02-14 22:01:01 - Global SSK Submarines Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global SSK Submarine market is to grow at a CAGR of 2.4 percent over the period 2012-2016. Increasing defense budgets across the globe is one of the key factors contributing to this market growth. The market has also been witnessing increasing collaborations between countries. However, rapid technological changes could pose a challenge to the growth of this market.
The Global SSK Submarine market is expected to witness increasing collaboration between countries in the near future. Such collaboration between countries will help to reduce the cost associated with development programs and enable partnering countries to gain market share. Furthermore, developing countries are building their naval product manufacturing capabilities by acquiring technologies from companies that have capabilities in this industry, which will
drive the market in the future.
One of the major growth drivers is the increasing defense budgets in a number of countries. Governments in countries such as China, India, Brazil, Saudi Arabia, Russia, the United Arab Emirates, South Korea, and Spain are expected to increase the share of their defense budgets to double digits by 2015, driving the Global SSK Submarine market.
The introduction of products using new technologies or the adoption of new industry standards can make existing products or products under development obsolete or unmarketable. In this scenario, to compete effectively companies have to continuously innovate and introduce new products that gain market acceptance.
The key vendors dominating this market space include DCNS S.A., Kawasaki Heavy Industries, Mitsubishi Heavy Industries Ltd., and ThyssenKrupp AG. The other vendors mentioned in this report are ASC Pty Ltd. Daewoo Shipbuilding and Marine Engineering Co. Ltd., Howaldtswerke-Deutsche Werft GbmH, Mazagon Dock Ltd., Nordseewerke Emden GmbH, and Wuhan Shipbuilding.
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