Global SONAR Systems Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 9.2% from 2020 to 2027, reaching nearly US$ XX Bn.
Global SONAR Systems Market
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Global SONAR Systems Market Definition:
SONAR (Sound Navigation and Ranging) refers to navigation and ranging technique, where sound waves are used for obstacle navigation & detection. SONAR technique is mostly used in the marine circle for the reason that the sound waves travel farther than the light and radar. It is also useful for exploring, communicating and mapping of oceans.
Development in the anti-submarine warfare capabilities of many naval forces across the world and increased usage of these systems in the research industry for seabed mapping purposes are touted to be the major factors driving the global SONAR System market. Also, growing defense budgets in different countries would provide better opportunities for the market companies to invest in the business and enable a prosperous development in the SONAR System market globally.
The concern about the adverse impact on marine life with the usage of SONAR systems is one of the factors that would hamper the growth of the market. Likewise, the report contains a detailed study of factors that will drive and restrain the growth of the SONAR Systems market.
Global SONAR Systems Market Segmentation:
The report covers the segments in the SONAR systems market such as product type, mode of operation, installation, operating frequency, and application. Based on product type, the general-purpose hull-mounted SONAR segment is expected to grow at the highest XX% CAGR during the forecast period. The growth of this product segment is driven by the fact that these sonars are fixed in the ship’s hull for navigation besides threat detection.
By Application, the defense segment was valued at US$ XX.94 Mn. in 2019 and is expected to reach US$ XX.41 Mn. by 2027 at a CAGR of XX.30% over the forecast period. The increased investments in the obtaining of next-generation submarines and other submerged platforms will fuel the market segment’s growth in the future.
North America SONAR systems market was valued at US$ XX Mn. in 2019 and is expected to reach a value of US$ XX Mn. by 2027, with a CAGR of XX% during the forecast period. The region will retain its market dominance in the future because of the introduction of various development programs on pertaining submarines and other underwater vessels and the increased usage of both surface and underwater naval vessels in economies such as the US.
The rise in spending for the enhancement of naval capabilities by economies such as Canada, Mexico, Brazil, and Argentina will also increase the demand for sonar systems in the USA. The market in the APAC is projected to register comparatively faster growth in terms of revenue in future. This can be attributed to substantial investments by China in defense and investments by various APAC countries in shipbuilding capabilities, in the region.
Global SONAR Systems Market Competitive Landscape:
The competitive landscape section in the SONAR systems market offers a deep dive into the profiles of the leading players operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects of the companies having a stronghold in the SONAR systems market. In 2018, Kongsberg Gruppen Company received a contract from the Ocean Infinity for supplying 5 HUGIN autonomous UVS. These autonomous underwater vehicle systems are fitted with the newest generation HISAS 1032 synthetic opening sonars of Kongsberg maritime.
The objective of the report is to present a comprehensive analysis of the Global SONAR Systems Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global SONAR Systems Market dynamics, structure by analyzing the market segments and projects the Global SONAR Systems Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global SONAR Systems Market make the report investor’s guide.
Scope of the Global SONAR Systems Market: Inquire before buying
Global SONAR Systems Market, by Product Type
• General-purpose hull-mounted SONAR
• Seabed imaging and information SONAR
• Stern mounted SONAR
• Dipping SONAR
Global SONAR Systems Market, by Mode of Operation
• Commercial active
• Military dual mode
• Military passive
Global SONAR Systems Market, by Installation
• Vessel mounted
• Hand-held and pole mounted
Global SONAR Systems Market, by Operating Frequency
Global SONAR Systems Market, by Application
Global SONAR Systems Market, By Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in Global SONAR Systems Market
• Lockheed Martin
• Kongsberg Gruppen
• Ultra Electronics
• Atlas Elektronik
• Japan Radio (JRC) Co., Ltd.
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