The growing defense budget of many countries is a major factor fueling the sales of airborne detection systems for submarines across the world. Due to the increasing threats from terrorist organizations, rising conflicts between nations, and the growing concerns raised over national security, the defense expenditure of several countries has increased massively over the last few years. Furthermore, many nations are rapidly modernizing their defense programs and strengthening their defense capabilities, with the purchase of advanced weapons and machinery.
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The rising threats of piracy in sea trade routes and the increasing number of conflicts happening in oceans have made many nations increase their imports of under-water defense equipment and bolster their naval power. For example, “the U.S. Department of Defense requested a budget of $639.1 billion for FY2018, which represents 8.9% increase from the year 2017”. Under this increased budget, 27% of funds were allocated to the U.S. Marine Corps, which increased the country’s expenditure on naval forces from $1.68 billion to $2.13 billion from 2017 to 2018.
Geographically, the North American airborne detection systems for submarines market recorded the highest growth in 2017, as per the findings of the market research company, P&S Intelligence. The U.S. dominated the North American market in the past, on account of the country’s high defense expenditure and the presence of numerous airborne detection systems manufacturing companies in the country. In addition to this, the large-scale procurement of various advanced naval weapons systems and equipment by the country further boosted the progress of the U.S. market over the last few years.
Thus, it is certain that the sales of airborne submarine detection systems will increase considerably in the future years, primarily due to the mushrooming investments being made in the defense sector by the governments of many countries and the increasing procurement of advanced defense equipment by several countries around the world.