S. American submarine industry set to grow:
"More submarines are set to join the military inventories of South and Central American navies in 2011 as acquisition and construction programs get under way, a report on global submarine markets said.
The total annual value of the global submarine market stands at $16.4 billion and is expected to increase to $18.2 billion by 2021, 'The Global Submarine Market 2011-2021' report said.
It wasn't immediately clear if the report takes into account secret shipbuilding and submarine activities of countries outside the conventional reporting areas, such as Iran, North Korea and other Asian countries.
Regional rivalries among states are cited in the report as a driver for the submarine market, which is expected to cumulatively be worth $44 billion across the forecast period, 23.6 percent of the total market.
In Latin America, Brazil and Argentina remain the main spenders with a total value of $8.6 billion, 4.61 percent of the total market."
