BIS Research - Emerging Technology Market Intelligence

Rising Defense Spending Fuelling Undersea Warfare Systems Market

Mar 16, 2018 7:38:57 AM / by BIS Research posted in Global Undersea Warfare Systems market, Global Undersea Warfare Systems market analysis, Global Undersea Warfare Systems market report, Global Undersea Warfare Systems market research re, Global Undersea Warfare Systems market share, Global Undersea Warfare Systems market trends, Aerospace defense, Global Undersea Warfare Systems market forecast, Undersea Warfare Systems market report

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The proliferation of threats in the undersea environment has created a paradigm shift towards the adoption of advanced undersea warfare systems. The major advantage of this system is that it strengthens a country’s naval power. The undersea warfare market has witnessed a rapid increase in research and development activities in the past few years. According to the market intelligence report by BIS Research titled, ’Global Undersea Warfare Systems Market-Analysis and Forecast (2017-2021),’ the market is expected to reach over $11.4 billion by the end of 2021, registering a CAGR of 6.6% during the forecast period of 2017-2021. This tremendous growth is attributed to the rising defense spending to strengthen the country’s military capabilities for countering any type of attacks, including the threats from underwater attacks. However, the most prominent factor escalating the growth of the market is growing numbers of maritime border disputes. These conflicts are mostly due to strife pertaining to offshore resources ownership and trade claims.

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