Submarine AIP System Market Projected to Grow at 3.2% CAGR, Reaching $529.2 Million by 2034 | Fact.MR Report

Adoption of Second-Generation AIP Systems Promising Longer Underwater Endurance and Improved Functionality of Submarines

/EIN News/ -- Rockville, MD., July 30, 2024 (GLOBE NEWSWIRE) -- The global Submarine AIP System Market is projected to reach US$ 529.2 million by the end of 2034, up from US$ 386.2 million in 2024. According to an updated Fact.MR industry analysis and developments in submarine AIP systems such as fuel cells and Stirling engines are key factors driving market growth.

Growing emphasis on second-generation systems is one of the major trends in the submarine AIP system market that is driving adoption. Since AIP systems are supposed to provide longer underwater endurance for submarines, second-generation AIP systems are projected to surpass the current endurance levels, enhancing the submarines' overall functionality and efficiency.

Unexpected attacks have targeted every diesel-electric submarine that came up or swum to refuel. On the other hand, the arrival of second-generation AIP systems is expected to completely rewrite the rules governing submarines' underwater flexibility and open the door for brand-new technologies to enter the submarine industry.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=396  

Key Takeaways from the Submarine AIP System Market Study:

• The global market for submarine AIP systems is forecasted to expand at a CAGR of 3.2% from 2024 to 2034.
• East Asia is projected to account for 28.6% of the global market share by 2034.
• The market in Japan is forecasted to expand at a CAGR of 3.5% from 2024 to 2034.
• The market in China is analyzed to generate revenue worth US$ 74 million by the end of 2034.
• Based on type, closed-cycle diesel AIP systems are projected to generate revenue of US$ 245.5 million by the end of 2034.
• In the North American region, sales of submarine AIP systems are projected to reach US$ 114.8 million by 2034.
• The United States is estimated to account for 80.4% market share in the North American region in 2024.
• Use of AIP systems in conventional (diesel-electric) submarines is forecasted to generate revenue worth US$ 360.9 million by 2034.

“Rising maritime security concerns and focus on upgradation of naval fleets globally are driving demand for submarine AIP systems, contributing to market growth,” says a Fact.MR analyst

Leading Players Driving Innovation in the Submarine AIP System Market:

Key industry participants like Siemens; Navantia; General Dynamics; United Shipbuilding Corporation; CSICL; Kongsberg Gruppen; Lockheed Martin Corporation; SAAB; ThyssenKrupp Marine Systems GmbH; China Shipbuilding Industry Corporation; United Technologies Corporation; DCNS. etc. are driving the submarine AIP system industry.

Application of AIP Systems High in Conventional (Diesel-Electric) Submarines

Air-independent propulsion (AIP) systems are being extensively used in conventional (diesel-electric) submarines because they allow the submarines to stay below for a longer time without needing to surface or snorkel to refuel. This trait provides conventional submarines an advantage over other submarine types in terms of operational flexibility and lower susceptibility to detection by boosting stealth and endurance. AIP technologies further boost stealth by removing the submarine's requirement to use its diesel engine or deploy its snorkel.

Submarine AIP System Industry News:

• The Indian Navy planned to acquire six new submarines with Air Independent Propulsion (AIP) technology in June 2024 as part of Project-75I.
• A Fateh-class submarine prototype with an air-independent propulsion (AIP) plug was on show by Iran's Defense Ministry in March 2024 during the DIMDEX 2024 exhibition, which was held in Doha from March 4–6, 2024.
• The French-based Naval Group and DRDO (India) decided to update the Scorpene-class Indian Navy submarine INS Kalvari in January 2023. DRDO's objective was to outfit submarines with airtight propulsion systems utilizing domestic fuel cells.
• In February 2023, the Indian Navy began procuring P-75l submarines as a means of looking into alternatives to Russian military hardware. As part of the US$ 5.2 million contract, the company plans to transfer technologies for air-independent propulsion systems.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=S&rep_id=396

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Type

• Fuel Cell AIP Systems
• Stirling Engine AIP Systems
• Closed-Cycle Diesel AIP Systems

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Fit

• Line
• Retrofit

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Submarine Type

• Nuclear-Powered Submarines
• Conventional (Diesel-Electric) Submarines
• Hybrid Submarines

More Valuable Insights:

Fact.MR, in its new offering, presents an unbiased analysis of the submarine AIP system market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on type (fuel cell AIP systems, Stirling engine AIP systems, closed-cycle diesel AIP systems), fit (line, retrofit), and submarine type (nuclear-powered submarines, conventional submarines, hybrid submarines), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Check out More Related Studies Published by Fact.MR Research:

Submarine Power Cable Market- The global submarine power cable market, which is an key component of the energy sector, is pegged at US$ 14.81 billion for 2024 and is projected to reach a valuation of US$ 46.83 billion by 2034-end, expanding at a CAGR of 12.2% from 2024 to 2034.

Photoinitiator Market- The global photoinitiator market size was pegged at US$ 2 billion in 2023 and has been forecasted to expand at a noteworthy CAGR of 8.5% to climb to a value of US$ 4.93 billion by the end of 2034.

Aircraft Oxygen System Market- The global aircraft oxygen system market is estimated to reach a value of US$ 5.96 billion in 2024 and thereafter climb to US$ 10.89 billion by 2034, expanding at a CAGR of 6.2% between 2024 and 2034.

Polypropylene Woven Bag and Sack Market- global polypropylene woven bag and sack market is estimated at a value of US$ 4.46 billion in 2024. The market has been forecasted to climb to a size of US$ 6.67 billion by the end of 2034, expanding at a CAGR of 4.1% between 2024 and 2034.

Power Hammer Market- global power hammer market was valued at US$ 843.4 million in 2023 and has been forecasted to expand at a CAGR of 5.4% to climb to US$ 1.5 billion by the end of 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.

Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog