Global Undersea Warfare Market, valued at US$11.4 billion in 2018, is projected to grow at a CAGR of 3.96% over the forecast period, to reach US$16.8 billion by 2028 and cumulatively value US$152 billion. The market consists of four segments: combat systems, Sensors, man & unmanned system, and communication & countermeasures. The market is anticipated to be dominated by combat systems, which will account for 62.4% of the overall revenue, followed by sensors and man & unmanned systems with shares of 17.1% and 10.6% respectively. Communication and countermeasures segment is projected to account for shares of 9.9% during 2018-2028.
Asia Pacific to remain largest spender on Undersea Warfare market over the forecast period
Global undersea warfare market is dominated by Asia Pacific, and China is the largest spender in the sector. Overall, Asia Pacific will spend US$56.4 billion on undersea warfare during the forecast period. North America represents the second-largest market, with total undersea warfare spending valued at US$45.3 billion over the forecast period.