A recent report published by Infinium Global Research on the military submarine photonics mast and antenna market provides in-depth analysis of segments and sub-segments in the global as well as regional military submarine photonics mast and antenna market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional military submarine photonics mast and antenna market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global military submarine photonics mast and antenna market. According to the report, the global military submarine photonics mast and antenna market are projected to grow at a CAGR of nearly 6% over the forecast period of 2022-2028.
The revenue generated by the market was about USD 450 million in 2022 and is expected to reach nearly USD 650 million in 2028 and is expected to grow with a CAGR of nearly 6% over the forecast period 2022-2028. A photonics mast is a sensor on a submarine that performs similarly to a periscope without needing a periscope tube. This reduces the risk of water leaking in the event of damage and frees up design space during construction. The photonic antenna is a functional device that combines a planar antenna and a photonic device like a photodetector to create a photonic feeding RF (Radio Frequency) transmitter. Similar to a telescopic automobile antenna, a photonics mast or antenna operates by rising above the water and transmits data using a variety of sensors, including high definition low-light and thermographic cameras.
The covid-19 pandemic was not quite beneficial for the market due to several impacts felt by the market due to the ongoing pandemic. The covid-19 pandemic started abruptly at the advent of 2020 and escalated very quickly which resulted in shocks being felt in the market. The ongoing submarine modernization programs suffered at various stages right from evaluation, user trials, and manufacturing stages which hampered the demand for photonic masts and antennas for military submarines during the pandemic. Supply chain disruptions created a shortage of military submarine photonic masts and antennas. Furthermore, chip shortage affected the production and delayed the delivery of photonic masts and antennas. As the world is recovering, the market is also stabilizing quickly.
With the constantly changing geopolitical scenarios and with an eye on potential enemies the countries are more focused on military operational readiness now. The amount that nations spend on defence has increased. Global military spending increased from USD 1,774 billion in 2016 to USD 2113 billion in 2021, according to SIPRI. Thus, the market is expanding as a result of the rising military spending globally. Having a strong naval force has been the prerequisite for projecting power worldwide along with ensuring territorial integrity in waters and securing the trade routes through seas. With the growing disputes over territorial waters and in a race to dominate the global trade routes, countries are modernizing their naval fleets including submarine fleets at a rapid pace. Requests for Information are being floated for the development and building of new submarines and also refitting and maintenance of the existing submarine fleets. For instance, the ongoing Project 75-I of India is one of the largest submarine acquisition projects. Thus, this factor is majorly driving the growth of the market. Though, the high cost of technology is hampering the growth of the market. However, technological advancements are expected to offer growth opportunities in the market.
In terms of revenue, North America dominated the Military Submarine Photonics Mast and Antenna Market. From North America, the US maintains one of the largest submarine fleets in the world which are a mix of SSNs, SSBNs, SSGN, and other submarines. These submarines are deployed around the world and have been the mainstay of the USA’s maritime dominance in oceans and seas across the world. The US continuously upgrades its submarine fleet with the newest technologies such as photonic masts and antennas. In 2004, the US Navy started fitting its submarine fleet with photonic masts in Virginia class submarines. Thus, the US and North America as a whole have been one of the earliest adopters of photonic masts and antennas for their military submarine fleets. Thus, the demand for such naval systems is expected to remain high in the region. Asia-Pacific is expected to be the fastest growing region as countries such as India and China are rapidly expanding and modernizing their military submarine fleets.
The report on the global military submarine photonics mast and antenna market covers segments such as type, and submarine type. On the basis of type, the sub-markets include photonics mast, and antenna. On the basis of submarine type, the sub-markets include SSBN, SSGN, SSN, and SSK.
The report provides profiles of the companies in the market such as L3Harris Technologies, Inc., Thales Group, Lockheed Martin Corporation, Systems Engineering and Assessment Ltd (SEA), Safran Group, Cassidian Optronics, Panavision Federal Systems, NEREIDES SAS, Raytheon Technologies Corporation, and HENSOLDT.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the military submarine photonics mast and antenna market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Please Choose One of them.