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Global .85 Billion Mine Countermeasures (MCM) Market and Technology Forecast to 2029

Global $2.85 Billion Mine Countermeasures (MCM) Market and Technology Forecast to 2029

DUBLIN–(BUSINESS WIRE)–Jan 14, 2021–

The “Global Mine Countermeasures (MCM) – Market and Technology Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.

The market revenue for Global Mine Countermeasures Market accounted for USD 2.04 Billion in the year 2020 and it is anticipated to reach a value of around USD 2.85 Billion by the year 2029. The market growth dynamics account for a CAGR of around 3.40% over the forecast period, 2020-2029.

The Sea Mine continues to be a constant threat to global navies, with relatively primitive moored and drifting contact mines to technologically sophisticated influence mines. About a million naval mines are reported to be held by more than 60 nations. Since the end of World War II, naval mines have severely damaged or sunk nearly four times as many U.S. Navy ships as all other modes of attack combined.

Based on specialized low-signature warships usually armed with hull-mounted or dynamic depth sonars, remotely operated vehicles (ROVs) for mine detection and destruction, and advanced data systems for mine warfare, Navies globally are focusing on modernizing their legacy MCM capabilities. The major areas of investment being focused on in the mine countermeasures market are sonar advancements, the deployment of remotely controlled minesweeper, upgraded command and control (C2) systems, autonomous and unmanned systems, innovative mine effectors, and improvised explosive device (IED) disposal.

Variables such as focusing on improving frontline situational awareness and increasing occurrences of asymmetric and network-centered warfare have a major positive impact on the mine countermeasures market. Moreover, the increase in defense spending, particularly in emerging economies, and subsequent investments in the procurement of such systems are further boosting the growth of the market. Factors such as high cost of acquisition, and nations with no coastline, however, hinder the growth of the market to some extent. Increasing terrorist attacks and a focus on counter operations, and the launch of modernization programs by many nations around the world, have created promising opportunities for the mine countermeasures market to grow.

North America is expected to dominate the global market with a market value of around USD 0.86 billion owing to the increasing R&D investment in this sector coupled with an infrastructure that supports the same. The rising global conflicts and cross-border tension between countries including China, India, Pakistan, and Others in the APAC region is another factor that is expected to fuel the growth of the Global Mine Countermeasures Market. APAC is expected to be the second-largest market with a value of around USD 0.83 Billion. APAC is expected to be the fastest-growing market over the forecast period with a CAGR of around 4.14%.

Key Topics Covered:

1 Introduction

2 Executive Summary

2.1 Global Mine Countermeasures Market Trends and Insights

2.2 Top Five Major Findings

2.3 Major Conclusion

2.4 Important Tables and Graphs

3 Current Market Overview of the Global Mine Countermeasures Market

3.1 Introduction

3.1.1 Cold War

3.1.2 Aviation Mine Countermeasure

3.1.3 Gulf War Operations

3.2 Mine Warfare

3.3 U.S. Mine Countermeasures

3.3.1 USS Chief (MCM-14)

3.3.2 USS Dextrous (MCM-13)

3.3.3 USS Gladiator (MCM-11)

3.3.4 USS Warrior (MCM-10)

3.3.5 USS Pioneer (MCM-9)

3.3.6 Unmanned Surface Vessel

3.3.7 Department of the Navy Budget (PB21)

4 Current Market Trends of the Global Mine Countermeasures Market

4.1 Concept of Operations

4.1.1 Mapping, Survey, and Intelligence Operations

4.1.2 Surveillance Operations

4.1.3 Organic Mine Countermeasure Operations

4.1.4 Dedicated Mine Countermeasure Operations

4.1.5 Supporting Infrastructure

4.2 Mine Threat

4.2.1 Key Historical Mines

4.2.2 Mine Employment

4.2.3 Mine Actuation

5 Market Technologies

5.1 Unmanned Surface Vehicles

5.2 Unmanned Mine Detection

5.3 Pass in Action

5.4 Automatic Target Recognition

5.5 Optical Sensing

5.6 Autonomous Vehicles (XLUUVs)

5.7 Airborne Mine Neutralization

5.8 Composites

5.9 Multi-Shot Mine Neutralization System

5.10 Synthetic Aperture Sonar

6 Market Dynamics

6.1 Drivers

6.1.1 Indigenous Programs

6.1.2 Increasing Maritime Threats

6.1.3 Advancements in Autonomous Platforms

6.1.4 Ongoing Military Modernization Programs

6.1.5 Rise in Global Conflicts

6.2 Restraints

6.2.1 Coastline

6.2.2 High Cost of Acquisition

6.3 Challenges

6.3.1 Naval Budget

6.3.2 Environmental Characterization

6.3.3 Security

6.4 PEST Analysis

6.5 Porter’s Five Forces Analysis

7 Country Analysis

7.1 USA

7.1.1 Budget

7.1.2 Fleet Size

7.1.3 Modernization Programs

7.2 United Kingdom

7.3 France

7.4 India

7.5 Italy

7.6 China

7.7 South Korea

7.8 Australia

7.9 Belgium

7.10 Taiwan

8 Global Mine Countermeasures Market to 2029 by Region

8.1 Market Introduction

8.2 Total Global Market by Region (By Platform) to 2029

8.3 Total Global Market by Region (By Operation) to 2029

9 Global Mine Countermeasures Market to 2029 by Platform

9.1 Market Introduction

9.2 Total Global Market by Platform (By Operation) to 2029

9.2.1 Manned Platform

9.2.2 Unmanned Platform

9.3 Total Global Market by Platform (By Fitment) to 2029

10 Global Mine Countermeasure Market to 2029 by Fitment

10.1 Market Introduction

10.2 Total Global Market by Fitment (By Operation) to 2029

10.2.1 New Procurement

10.2.2 Upgrades

11 Opportunity Analysis

11.1 By Region

11.2 By Platform

11.3 By Fitment

12 Scenario Analysis

13 Corona Impact on Global Mine Countermeasures Market

14 Company Profiles

  • Aselsan A.S.
  • BAE Systems
  • ECA Group
  • Fr. Lurssen Werft GmbH & Co. KG
  • General Dynamics
  • Hydro GroupHeinen & Hopman
  • L3 Harris Technologies
  • Lockheed Martin
  • Naval Group
  • Northrop Grumman
  • Raytheon Co.
  • Saab AB
  • Thales Group

For more information about this report visit https://www.researchandmarkets.com/r/y10gu9

View source version on businesswire.com:https://www.businesswire.com/news/home/20210114005427/en/

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KEYWORD:

INDUSTRY KEYWORD: MARITIME DEFENSE MINING/MINERALS TRANSPORT NATURAL RESOURCES OTHER DEFENSE

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 01/14/2021 04:22 AM/DISC: 01/14/2021 04:23 AM

http://www.businesswire.com/news/home/20210114005427/en