According to a recent study report published by Market Research Future, the global market for air-independent propulsion systems for submarine market will grow at a rapid pace over the forecast period. The market is expected to witness slow but steady growth until 2022, which will be a growing fast at a moderate CAGR during the forecast period (2017 -2022).
The high demand for air-independent propulsion systems for the submarine market is due to the growing need for extended submerged periods, cost-efficiency, and increased investment in research and development, thus increasing the participation of manufacturers. Rapid technology advancement, along with the increased focus of OEMs on strengthening naval capabilities, is expected to result in an increase in submarine expenses and add to the growth of the market.
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However, the engineering challenges in existing fuel cell technologies act as a barrier to the growth of air-independent propulsion systems for the submarine market. The revolution of second-generation submarine results in many naval submarines upgrading technologies with AIP batteries and fuel cells.
Air-independent propulsion technology design to allow the diesel submarines to operate without having to access the surface for atmospheric oxygen. This will helps diesel submarines to carry out operations in a stealthy manner reducing their chances of being seen by enemy ships and aircraft. The AIP systems comprises of an engine, fuel, a generator attached to the engine, and a battery. The popularity of these systems has risen and there is a large number of navies seeking to build submarines with AIP systems. These days, several AIP schemes are under development or already in operation, can increase slow-speed endurance to as much as a month. While it is still dwarfed by the potential of nuclear power, AIP offers diesel submarines a remarkable increase in capability.
Moreover, other factors responsible for the growth of the air-independent propulsion systems for the submarine market are demand for technology advancement in the submarine system. This is the primary factor that drives the growth of the global air-independent propulsion systems for submarine market and has gained prevalence in the recent times, with the usage of best in class technologies in the naval sectors. Thus, the growth of the air-independent propulsion systems for the submarine market is expected to go hand in hand with the growth of investment in the submarine industry.
SAAB AB (Sweden), Siemens AG (Germany), DCNS SA (France), China Shipbuilding Industry Co., Ltd. (China), UTC Aerospace Systems (U.S.), Lockheed Martin Corporation (U.S.), General Dynamics Corporation (U.S.), Kongsberg Gruppen ASA (Norway) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Air-Independent Propulsion Systems for Submarine Market.
North American region is dominating the market of the global air-independent propulsion systems for submarine market due to countries such as U.S., Canada, spending heavily on their naval capabilities. These investments are targeted on the submarine building.
Asia Pacific market is referred to as the second-largest air-independent propulsion system market due to factors such as high demand for naval submarines with high endurance capabilities have fuelled the demand for global air-independent propulsion systems for submarine market.
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