According to Fortune Business Insights™, the global underwater warfare market size was valued at USD 14.70 billion in 2024 and is projected to grow from USD 15.68 billion in 2025 to USD 25.63 billion by 2032, exhibiting a CAGR of 7.3% during the forecast period. North America led the market in 2024, holding 41.5% of the global share, fueled by robust naval modernization programs and defense budgets.

The underwater warfare market is a vital component of global defense strategy, focusing on advanced technologies and platforms used in subsurface combat and security operations. This includes submarines, sonar systems, Autonomous and Unmanned Underwater Vehicles (AUVs and UUVs), torpedoes, and underwater communication and surveillance systems. The sector is witnessing strong demand amid increasing maritime threats, geopolitical conflicts, and innovations in AI and automation.

Key Players in the Underwater Warfare Market

• Lockheed Martin Corporation (U.S.)
• BAE Systems (U.K.)
• Northrop Grumman (U.S.)
• Thales (France)
• RTX (U.S.)
• Saab AB (Sweden)
• L3Harris Technologies, Inc. (U.S.)
• KONGSBERG (Norway)
• General Dynamics Corporation (U.S.)
• Elbit Systems Ltd. (Israel)
• Raytheon Technologies (U.S.)

Source:

https://www.fortunebusinessinsights.com/underwater-warfare-market-110748

Market Segmentation

By Platform