The modern non-nuclear, conventional diesel-electric submarine (SSK) with air-independent propulsion systems (AIP) is a complex, multi-role and extremely powerful weapon system. The submarine is able to deploy a wide range of weapons and conducting various missions ranging from anti-submarine, anti-surface vessels warfare to intelligence, surveillance and reconnaissance.
According to Frost & Sullivan, despite the implementation of austerity measures and defence budget reductions in many countries, the demand for conventional submarines, mainly with AIP on board, will grow at a compound annual growth rate (CAGR) of 1.8 per cent globally during 2013–2022 and present revenue opportunities of up to USD 34.80 billion.
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