Submarine AIP System Market will Reflect Significant Growth Prospects

Posted by Preet on October 10th, 2019

Among all the research and development activities relevant to submarines, the search for satisfactory and effective forms of underwater propulsion has been continuously carried out without any reduction in intensity. The earliest submarines were man-powered with hand-cranked propellers, which remained highly susceptible to dangerous and fatal accidents. Such instances laid the foundational pillars for submarine AIP (air-independent propulsion) systems and drove their adoption at a significant rate across the globe. With time, submarine AIP systems gained the status of being a core element behind the flexibility of submarines. Against a backdrop of the ever-evolving security demands, the submarine AIP market will spectate bespoke innovations aimed at different features such as maximizing strategic values, improving the performance, and enhancing operational efficiency.

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Fact.MR published a report on the submarine AIP system market for the forecast period of 2019 to 2027. The primary objective of this report is to offer insights on demand generators, technological advancement, and global market scenario in submarine AIP system. Also, the study on the submarine AIP system market provides key dynamics that are anticipated to diversify sales and future prominence of submarine AIP system during the forecast period. The demand for submarine AIP system has increased significantly in the past few years, and is likely to maintain same over the forecast period.

With AIP system becoming an important part of new-age submarine designs, end users are on the lookout for AIP-equipped submarines, and are willing to invest in same. AIP equipped submarines are always silent, with the only noise generated by propeller, shaft bearings, and the hull, which gives them a differential advantage over other conventional propulsion technologies. Across the globe during the forecast period, growing demand for high submerged periods and cost-efficiency are driving the adoption of AIP-equipped submarines, marking new opportunities for the operating market players in submarine AIP system. On other hand, the increased funding in defense sector by governments across the globe is expected to play an important role in growth of the submarine AIP system market. Majority of countries in the defense and submarine industry are automating a variety of processes, which will positively impact the growth of the submarine AIP system market, during the forecast period.

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The defense revenue is anticipated to show continuous growth during the forecast period owing to the tension between different countries such as India and Pakistan, China and Iran, and improved but continuing tense relationship with North Korea. In addition, the high cost of nuclear submarines as compared to AIP equipped submarines may increase the traction of the purchase of submarine AIP system for strengthening their naval capability and thus, indirectly driving the submarine AIP system market. The rising need to provide naval forces with increased capabilities related to maritime security is expected to increase the demand for submarine AIP system. Furthermore, the modernization and up gradation of naval fleets across the globe is also expected to drive the submarine AIP system market during the forecast period. On the other hand, the submarine AIP system market growth has a threat associated with the switch towards nuclear power submarines, due to their long battery life and this threat is expected to increase during the forecast period.

Among all the key trends influencing the growth of the submarine AIP system market, increasing focus on second generation submarine AIP systems remains a prominent one. With AIP systems promising the best of underwater endurance for submarines, the second-generation AIP systems are further likely to take endurance levels a notch higher, adding to the overall efficiency and functionality of the submarines. All the diesel-electric submarines have faced the brunt of unexpected attacks as they come to the surface or snorkel to recharge batteries. However, the debut of second-generation AIP systems is likely to rewrite the rules of submarines’ versatility underwater, further lighting the way for new developments to make their way in the submarine AIP system landscape.

Fact.MR forecasts the global submarine AIP system market to grow from ~ US$ 195 Mn in 2019 to ~ US$ 229 Mn in 2027. This represents a compound annual growth rate (CAGR) of around 2% from 2019 to 2027. Among all regions, Asia Pacific and Europe together hold around 75 to 80% of total submarine AIP system market share across the globe. Asia Pacific is the key region for the submarine AIP system market and is expected to dominate the global submarine AIP system market during the forecast period.

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