Brazil and Argentina Will Invest $8.4 Billion Dollars in Submarines Over the Next Decade
Brazil and Argentina will be the countries that invest the most in submarines over the next ten years, a total of $8.6 billion dollars, accounting for 4.61% of the global market between 2011 and 2021.
According to data revealed in a Research and Markets study titled The Global Submarine Market 2011-2021, the submarine market will grow at an annual rate of 1.02% around the world, reaching a volume of $186.3 billion dollars over the next ten years.
In Latin America, Brazil and Argentina stand out, coming to occupy 4.61% of the global submarine market between them, very far from the situation in North America, where the market is almost entirely occupied by U.S. investments (47% of the global market during the period studied, with a total of 87.3 billion euros).
Brazil has a National Submarine Construction Program (Prosub), carried out in collaboration with France, for the assembly of Scorpene submarines and the development of nuclear technology. The program calls for the construction of four conventional submarines and one nuclear-powered submarine, as well as a shipyard where the vessels will be built and a support base for them.
In the case of Argentina, the Storni shipyard, part of the Argentine Naval Industrial Complex (CINAR), is finishing work, carried out with a budget of $60 million dollars, on extending the useful life of the submarine San Juan, after which construction of TR-1700 submersibles will begin.
The future vessel, with a displacement of 2,300 tons, a length of 68.6 meters, and a diameter of 8 meters, is capable of being equipped with nuclear propulsion, due to the solidity of its bulkheads.