Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The "Sonar Systems Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global sonar systems market market.
The global sonar systems market is expected to grow from $3.37 billion in 2021 to $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 4.52%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%.
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Major players in the sonar systems market market are Ultra Electronics, Thales Group, NAVICO, L3Harris Technologies Inc., ATLAS ELEKTRONIK, Kongsberg Gruppen, Lockheed Martin, Teledyne Technologies Incorporated, Sonardyne, Aselsan, FURUNO ELECTRIC CO. LTD, Japan Radio Co., DSIT Solutions Ltd, Northrop Grumman., and General Dynamics Mission Systems Inc.
The sonar systems market consists of sales of sonar systems by entities (organizations, sole traders, and partnerships) that refer to the systems based on the SONAR (Sound Navigation and Ranging) technology. Sonar is a technique in which sound waves are propagated at a certain frequency for mapping distance and objects especially in marine navigation since sound waves can travel a longer distance in the water than radar and light waves. Sound waves emitted or reflected by an object are detected by sonar apparatus and analyze information to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
North America was the largest region in the sonar systems market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The sonar systems market is segmented by product into hull-mounted sonar, stern-mounted sonar, dipping sonar, and sonobuoy. Hull-mounted sonar refers to sound navigation and ranging systems used in naval platforms as senor to detect submarines, underwater objects, unmanned underwater vehicles, seafloors, and others to create navigation charts to enhance naval security. By Installation, the market is segmented into fixed, and deployable.
By acoustic frequency, the market is segmented into ultrasonic and infrasonic. The major applications of sonar systems are anti-submarine warfare, port security, mine detection and countermeasure systems, search and rescue, navigation, diver detection, seabed terrain investigation, and scientific applications.
The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market. Terrorism is defined as the violence in an asymmetrical conflict that is designed to induce terror and psychic fear. Sonar systems can be used to find and tackle terror plans such as bombing, underground bomb fixing, unknown submarines in oceans, and others.
Technological advancement in sonar systems is a key trend in the sonar systems market. Companies are increasingly innovating to produce technologically-advanced sonar systems for military and warfare.
For instance, in 2021, Thales Group, a France-based multinational company for aerospace and defense security, received the contract to develop, test, and manufacture the SonoFlash air-droppable sonobuoy from French Defence Procurement Agency (DGA) to strengthen its anti-submarine warfare systems in the French Naval force. This advanced technology provides a complex sonar system, which can be used in open-ocean environments. In addition, SonoFlash offers long endurance and is suitable for a wide array of deployment scenarios.
The countries covered in the Sonar Systems Market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Sonar Systems Market Characteristics
3. Sonar Systems Market Trends And Strategies
4. Impact Of COVID-19 On Sonar Systems
5. Sonar Systems Market Size And Growth
5.1. Global Sonar Systems Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Sonar Systems Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Sonar Systems Market Segmentation
6.1. Global Sonar Systems Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Hull-Mounted Sonar
- Stern-Mounted Sonar
- Dipping Sonar
- Sonobuoy
6.2. Global Sonar Systems Market, Segmentation By Installation, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Fixed
- Deployable
6.3. Global Sonar Systems Market, Segmentation By Acoustic Frequency, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Ultrasonic
- Infrasonic
6.4. Global Sonar Systems Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Anti-Submarine Warfare
- Port Security
- Mine Detection and Countermeasure Systems
- Search and Rescue
- Navigation
- Diver Detection
- Seabed Terrain Investigation
- Scientific
7. Sonar Systems Market Regional And Country Analysis
7.1. Global Sonar Systems Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Sonar Systems Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jw9xai
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