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Anti-Submarine Warfare Systems Market Share

Report ID: GMI8163
Published Date: Feb 2024
Report Format: PDF

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Anti-Submarine Warfare Systems Market Share

Lockheed Martin Corporation, RTX Corporation and Northrop Grumman Corporation hold a significant market share of over 24% in the market. Companies in the anti-submarine warfare systems industry employ several key strategies to enhance their market foothold. Lockheed Martin focuses on continuous innovation in ASW technologies, leveraging its expertise in sensors, sonar systems, and underwater capabilities to stay at the forefront of technological advancements.

Northrop Grumman Corporation forms strategic partnerships and collaborations with defense contractors, organizations, and research institutions as a strategy. This approach helps North Grumman leverage collective expertise and resources for the development and implementation of ASW solutions. For instance, in February 2021, Northrop Grumman Corporation and Ultra collaborated to equip a modified Bell 407 manned platform with Ultra sonobuoys to complete an anti-submarine warfare capability demonstration of unmanned aircraft systems (UAS).

Furthermore, to improve data analysis and decision-making processes, RTX Corporation invests in AI and ML technologies. For instance, in December 2022, RTX Corporation invested in EpiSci, a company that develops autonomous solutions. The investment supports the company's mission of developing advanced autonomous technologies and will aid in the integration of EpiSci's Tactical AI technology.

Anti-Submarine Warfare Systems Market Companies

Major players operating in the anti-submarine warfare systems industry are:

BAE Systems plc
DSIT Solutions Ltd
Elbit Systems Ltd.
General Dynamics Corporation
Lockheed Martin Corporation
Naval Group (Formerly DCNS)
Northrop Grumman Corporation
RTX Corporation
Saab AB
Thales Group

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The anti-submarine warfare systems industry was valued at USD 17.7 billion in 2023 and is estimated to register a CAGR of over 4.5% between 2024 & 2032, driven by increasing investments in maritime surveillance capabilities.

In 2023, the submarines segment accounted for 28% market share, favored by the proliferation of submarines and advancements in submarine technology.

North America anti-submarine warfare systems industry held a revenue share of over 38% in 2023, attributed to the integration of state-of-the-art technologies such as advanced sonar systems, Unmanned Underwater Vehicles (UUVs), and maritime patrol aircraft.

BAE Systems plc, DSIT Solutions Ltd, Elbit Systems Ltd., General Dynamics Corporation, Lockheed Martin Corporation, Naval Group (Formerly DCNS), Northrop Grumman Corporation, RTX Corporation, Saab AB, and Thales Group.