The submarine market optimizes its performance thanks to the integration of 3D printing

Global Submarines Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026

Global Commercial Research Company Submarine Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026

LONDON, GREATER LONDON, UK, Feb. 16, 2022 / — Incorporating 3D printing or additive manufacturing into submarines is a key trend gaining popularity in the global tech market. submarines. Large companies operating in the submarine sector use 3D printing to build optimized submersible components and to improve performance by reducing essential properties such as weight. For example, in February 2020, ThyssenKrupp Marine Systems, a Germany-based company that supplies naval vessels, surface ships and submarines, announced plans to expand the use of 3D printing for production of submarine components. Thyssenkrupp Marine Systems has announced that the hydraulic block has been revamped by additive manufacturing for a submarine that traditionally weighed 14 kg and now weighs only 2.1 kg.

In March 2020, Huntington Ingalls Industries, a US-based military shipbuilding company, acquired Hydroid Inc., for an undisclosed amount. The acquisition is expected to strengthen Huntington Ingalls Industries’ capabilities in technical solutions for unmanned underwater vehicles (UUVs), autonomous underwater vehicles (AUVs) or marine robots. Hydroid Inc., is an American company that manufactures underwater vehicles.

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The global market for submarines (including nuclear submarines) is expected to grow from $18.96 billion in 2021 to $17.41 billion in 2022 at a compound annual growth rate (CAGR) of -8, 2%. The decline in submarine market growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing , remote work and business shutdowns that have resulted in operational disruptions. challenges. The submarine market size is expected to reach USD 21.86 billion in 2026 with a CAGR of 5.8%.

Rising investment in submarines is expected to propel the growth of the submarine market in the coming years. A submarine is a type of ship that can travel both above and below sea level. Governments around the world are investing in submarines to improve the capabilities of local shipyards and fill the shortcomings of the Navy’s submarine warfare force. According to the new annual Congressional Services report, the US Navy increased investment in its next-generation nuclear missile submarine project by $2 billion in fiscal year 2021 and continues to grow to $5 billion. dollars in 2024. Hence, increasing investment in submarines will drive the growth of the submarine market.

Key Players Covered in Global Submarine Industry are General Dynamics, Huntington Ingalls Industries, Mazagon Dock Shipbuilders Limited, ThyssenKrupp Marine Systems (TKMS), Kawasaki Heavy Industries Ltd., Daewoo Shipbuilding & Marine Engineering Co. Ltd., FINCANIERI SpA, Lockheed Martin Corporation, BAE Systems, Saab AB, China Shipbuilding Industry Corporation (CSIC), Navantia SA and United Shipbuilding Corporation.

The global TBRC Submarine market report is segmented by Type into Nuclear Powered Submarine, Diesel Electric Submarine, Ballistic Missile Submarine, by Platform into Commercial, Military, by Application in the surveillance, combat, monitoring of the marine environment, etc.

Global Submarines Market Report 2022 – By Type (Nuclear-Powered Submarine, Diesel Electric Submarine, Ballistic Missile Submarine), By Platform (Commercial, Military), By Application (Surveillance, combat, marine environment monitoring) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides submarine market overview, forecasts size and Submarines Market Growth for Overall Market, Submarines Market Segments, Geographies, Submarines Market Trends, Submarines Market Drivers, Restraints, Revenue , profiles and market shares of the main competitors.

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