Global submarine market dominated by DCNS S.A., Kawasaki Heavy Industries, Mitsubishi Heavy Industries Ltd., and ThyssenKrupp AG.
Global Submarine Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-30 08:19:01
The Global Submarine market consists of a few vendors, who are attempting various techniques to acquire competitive advantage. Vendors in the market are entering into developing countries with rich resources and a good demand for submarines. Countries such as China and India are growing at an impressive rate compared to most developed countries; this makes these countries potential customers for defense goods more than any other developed country. This trend of having one or more subsidiaries in developing countries is found to be common practice among all the key players in the Global Submarine market in recent years.
One of the major drivers in this market is the increasing focus and spending on R&D. Recently, investing in research labs and relevant facilities to improve product offerings by vendors has been on a rise; this in turn has contributed to the growth of the market.
Further, one of the major challenges is global defense budget cuts. Factors such as increasing rates of unemployment, inflation, and rate cuts have forced the governments of various developed countries to cut their defense spending, which, in turn, has inhibited the growth of the market.
The key players operating in the global submarine market include DCNS S.A., Kawasaki Heavy Industries, Mitsubishi Heavy Industries Ltd., and ThyssenKrupp AG.
The global submarine market is forecast to grow at a CAGR of 3.27 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increased focus and spending on R&D. The Global Submarine market has also been witnessing the leading vendors entering developing countries. However, the cuts in defense budgets across the world could pose a challenge to the growth of this market.
Other vendors operating in the market are Admiralty Shipyards, ASC Pty Ltd, BAE Systems, Daewoo Shipbuilding and Marine Engineering, Fincantieri, General Dynamics Electric Boat Limited, Golcuk Naval Shipyard, Huntington Ingalls Industries, Hyundai Heavy Industries, Kockums AB, Lockheed Martin Corporation, Mazagon Dock Ltd., Navantia, SaaB AB, and Thales Group.
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