Sonar System Market: Valued at USD 1.5 billion (2022) & Predicted to Grow at CAGR of 6.9% in the Coming Years

Sonar System Market

Sonar systems, typically the abbreviation for sound, navigation, and ranging systems, primarily work to remain in touch, navigate, and trace lost objects or threats in the water using sound waves. According to the research report issued by the MarkNtel Advisors, the Global Sonar System Market size was valued at approximately USD1.5 billion in 2022 and is assessed to rise at a CAGR of about 6.9% during the forecast period, i.e., 2023-28.

The increasing usage of sonars in Anti-Submarine Warfare (ASW) to enrich their capacities & the advancements, such as Synthetic Aperture Sonar (SAS) in the systems to bring about images with high-resolutions are significant factors in heightening the growth of the Global Sonar System Market. Moreover, the geopolitical risks and the scenarios regarding terrorism have compelled many countries to escalate their budgets concerning defense & safety to deploy nuclear submarines and construct warships for precautionary purposes are further predicted to aid in the growth of the given market.

Furthermore, the research report also states that other notable factors likely to boost the Global Sonar System Market are the enhancements & developments in AUVs (Autonomous Underwater Vehicles) along with the rising necessity for UUVs (Unmanned Underwater Vehicles).

Global Sonar System Market Opportunity:

Growing Recognition of the Extensive Benefits Offered by Unmanned Underwater Vehicles (UUVs): Sonar, being a crucial component of unmanned underwater vehicles, has witnessed a surge in its demand, resulting in substantial market growth, i.e., swiftly pushed by the increasing popularity of UUVs, including remotely operated underwater vehicles (ROUVs) and autonomous underwater vehicles (AUVs) across Military and defense, Oceanography, Oil and gas industry, Underwater archaeology and Search and rescue.

Glancing at the Top Players of the Global Sonar System Market

The major companies leading in the Global Sonar System Market include Reytheon, Thales, Lockheed Martin, L3, Ultra Electronics, Kongsberg Gruppen, Teledyne, Sonardyne, Atlas Elektronik, Furuno, etc. The companies are constantly evolving and strengthening their position to remain in the industry’s competition.

Analyzing the Global Sonar System Market Segmentation

  • By Application (Defense (Port Security, Diver Detection, Mine Detection, Countermeasure Systems, and Search & Rescue) and Commercial (Fisheries, Hydrography, and Navigation))
  • By Product Type (Hull Mounted Sonar (Forward Looking Sonar, Omni-Directional Sonar, and Echosounders) and Stern-Mounted Sonar (Variable Depth, Towed Array, Dipping Sonar, and Sonobuoy))
  • By Solution (Hardware and Software)
  • By End User (Line Fit and Retrofit)
  • By Installation (Vessel Mounted, Towed, Airborne, Unmanned Underwater Vehicles, and Port)
  • By Mode of Operation (Active, Passive, and Dual)
  • By Platform (Ship Type (Commercial, Bulk Carrier, Gas Tanker, Tanker, Passenger, Dry Cargo, and Others), Defense (Aircraft Carriers, Amphibious, Destroyers, Frigates, Submarines, Corvettes, and Others), and Airborne)
  • By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)

The highest demand would be yielded by the Hull-mounted Sonars in the Global Sonar System Market in the coming years. The increasing emphasis by the defense forces across the world to enhance their respective ASW capacities and the requirement for forward-looking sonars have majorly contributed to the rising demand for the given product in the industry. The need for improved sonar capabilities and advanced multiple sensors to detect underwater coercion are also contributing to the rising demand for hull-mounted sonars, further leading to market growth.

Asia-Pacific is likely to record tremendous growth in the Global Sonar System Market during the forecast period, 2023-28. The increase in the production of domestic ships across South Korea & China at a rapid pace and the enormous funding in the naval segment by various countries, along with the elevation of their existing naval vessels and getting hold of the new ones have contributed significantly to boosting the Asia-Pacific Sonar System Market growth. Furthermore, the promising investment by countries like China to improve situational attentiveness in the sea and the ASW competencies are also augmenting the industry expansion across the region.

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