The “Global Air-Independent Propulsion (AIP) System Market Analysis, 2020” market research report depicts a deep-dive market analysis of statistics of the Global AIP System, which consists of global and region-wise analysis of market size, market forecast, CAGR market segmentation, market shares of System Types, Fit Type, etc.
According to the MarkNtel Advisors’ research report titled “Global Air-Independent Propulsion (AIP) System Market Analysis, 2020”, the AIP system market across the globe is estimated to grow at a considerable CAGR during 2020-25. A major factor contributing to the growth of the Global AIP System market is the increasing defense investment in countries such as the US, China, India, Japan, France, etc. Moreover, surging demand for diesel-electric submarines due to cost efficacy in comparison to nuclear submarines is one of the key factors contributing to the market size growth of the AIP system globally. However, the COVID-19 pandemic adversely impacted the AIP System market across the globe due to the halt on submarines manufacturing.
Furthermore, the increasing focus towards submarine and strategic alliances with the other countries, with a focus on the submarine is expected to increase the market size of the Global AIP System. For instance, in 2019, Russia announced that the country presented an offer to India on jointly developing a new submarine class based on “Russian Amur-1650 SSK” for the Indian Navy.
Asia-Pacific is Expected to be the Hotspot During 2020-25
In 2019, North America captured the major market share in the global AIP System market. The surging number of AIP system providers, coupled with an extensive government focus on the submarine sector in the US is resulting in the market growth of North America. In 2019, the US government announced to invest around USD 5 billion on submarine spending by 2024, which would further boost the market growth of the AIP system.
However, APAC is expected to grow at the highest CAGR during the forecast period on an account of increasing defense budget in countries such as China, India, and Japan. Moreover, the ongoing technological advancement in the industry is estimated to propel the market growth in the forecast period of 2020-25.
Line Fit is Estimated to Capture Major Market Share
In 2019, the Line Fit segment captured the major market share and the same trend is expected in the forthcoming years. The need for technological advancement in the developed countries and the growing submarine manufacturing facilities across the globe is contributing to the growth in the market share of Line Fit. Furthermore, the Stirling Cycle engine dominated the market in 2019 owing to its high efficiency. Moreover, factors such as low power consumption and less noise generation in comparison to conventional diesel generators in the submarine are further augmenting the growth in the market share of the Stirling Cycle engine, as stated by the MarkNtel Advisors’ research report “Global Air-Independent Propulsion (AIP) System Market Analysis, 2020”.
According to MarkNtel Advisors, the availability of a several market players across the countries makes this global industry highly competitive. The key players with a considerable share in the industry are General Dynamics, SAAB, Lockheed Martin Corporation, Kongsberg Gruppen, UTC, United Shipbuilding Corporation, DCNS, Siemens, China Shipbuilding Industry Corporation, Navantia, etc.
The major companies are doing strategic alliances with governments to provide viable solutions, which can lead to an increase in their market share in the industry. For instance, Siemens announced to provide two submarines for air-independent propulsion to the Italian Navy that would be based on fuel cell technology.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global AIP System Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of the Global AIP System Market during 2020-25?
A. The Global AIP System Market is expected to grow at a considerable CAGR during 2020-25.
Q. Which region would grab the highest market share during 2020-25?
A. It is forecast that North America will dominate the market with a majority market share, and market size registering considerably higher CAGR.
Q. Who are the key competitors or players operating the Global AIP System market?
General Dynamics, SAAB, Lockheed Martin Corporation, Kongsberg Gruppen, UTC, United Shipbuilding Corporation, DCNS, Siemens, China Shipbuilding Industry Corporation, Navantia, Others, etc., are the leading players in the Global AIP System market.
Q. Which system type would emerge as an opportunity area for players in the Global AIP System market?
A. Stirling Cycle Engine segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which Fit Type would emerge as an opportunity area for players in the Global AIP System Market?
A. Line Fit grabbed a significant market share continue to grow at the highest CAGR, presenting immense opportunities for manufacturers and suppliers of AIP System Market.
