Global SONAR System Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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SONAR System Market Report offers in-depth insights, revenue details, and other vital information regarding the global SONAR system market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2031.
The SONAR System Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions and mergers, and market footprint.
The global SONAR system market report has been segmented on the basis of product type, mode of operation, installation, operating frequency, application, and region.
This SONAR System Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
SONAR System Market Overview
“The SONAR System Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.
SONAR is an acronym for Sound Navigation and Ranging. A Sonar system is a technique that uses sound propagation to navigate, communicate with or detect objects under the surface of the water.
SONAR System Market Dynamics
The growing demand for sonar systems to enhance the anti-submarine warfare capabilities of naval forces across the globe is a major factor driving the growth of the global sonar system market.
In addition, the rising demand for sonar systems due to their increasing use in the fishery industry is another factor expected to fuel the growth of the target market over the forecast period.
However, adverse effects of sonar systems on marine life are a factor expected to limit the growth of the global sonar system market over the forecast period.
SONAR System Market Segment Analysis
By application, the global sonar system market is segmented based on defense and commercial. The defense segment is expected to register the fastest growth rate over the forecast period.
By installation, the global sonar system market is segmented based on vessel mounted, towed, hand-held and pole-mounted, airborne, and UUV.
SONAR System Market Regional Analysis
Market in North America accounted for a significant revenue share of the target market in terms of revenue contribution as compared to that of markets in other regions owing to newly introduced development programs on pertaining submarines and other underwater vessels and increased usage of both surface and underwater naval vessels in countries such as the US.
The rise in spending for the enhancement of naval capabilities by countries such as Brazil, Canada, Mexico, and Argentina will also increase the demand for sonar systems in the Americas. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years.
This can be attributed to substantial investments by China in defense and investments by various Asia Pacific nations in shipbuilding capabilities, in the region. The markets in Latin America and the Middle East and Africa are expected to register a moderate growth rate in the global SONAR system market over the forecast period.
Global SONAR System Market Segmentation:
Global sonar system market segmentation, by product type:
- General-purpose hull-mounted SONAR
- Seabed imaging and information SONAR
- Stern mounted SONAR
- Dipping SONAR
Global sonar system market segmentation, by mode of operation:
- Commercial active
- Military dual mode
- Military passive
Global sonar system market segmentation, by installation:
- Vessel mounted
- Hand-held and pole mounted
Global sonar system market segmentation, by operating frequency:
Global sonar system market segmentation, by application:
Global sonar system market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Raytheon Company
- Lockheed Martin Corporation
- Thales S.A.
- Kongsberg Gruppen ASA
- Ultra Electronics Holdings plc
- L3 Technologies, Inc.
- Teledyne Technologies Incorporated
- SONARdyne International Ltd.
- ATLAS ELEKTRONIK GmbH
- Furuno Electric Co., Ltd.
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