Global Sonar Systems Market Outlook, Opportunities And Strategies
Learn about the global sonar systems market through The Business Research Company, which provides information on sonar systems market size, sonar systems market drivers and restraints, sonar systems market players, the COVID-19 impact on the sonar systems market, and more.
The global sonar systems market size 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 in the market 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 global sonar system market size is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%.
The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market.
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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 analyse information to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
Global Sonar Systems Market Segments Include:
By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
By Installation: Fixed, Deployable
By Acoustic Frequency: Ultrasonic, Infrasonic
By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the sonar systems market in 2021.
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.
TBRC’s sonar systems market report covers:
Major Market Players: 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.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Sonar Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides sonar systems market overviews, analyzes and forecasts market size, share, sonar systems market players, sonar systems market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s sonar systems market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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