Market Research Report
Sonar Systems Global Market Report 2022
|Sonar Systems Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
Sonar Systems Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global sonar systems market market.
This report focuses on sonar systems market market which is experiencing strong growth. The report gives a guide to the sonar systems market market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the sonar systems market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Sonar Systems Market market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider sonar systems market market, and compares it with other markets.
Markets Covered: 1) By Product: Hull-Mounted Sonar; Stern-Mounted Sonar; Dipping Sonar; Sonobuoy
2) By Installation: Fixed; Deployable
3) By Acoustic Frequency: Ultrasonic; Infrasonic
4) By Application: Anti-Submarine Warfare; Port Security; Mine Detection and Countermeasure Systems; Search and Rescue; Navigation; Diver Detection; Seabed Terrain Investigation; Scientific
Companies Mentioned: Ultra Electronics; Thales Group; NAVICO; L3Harris Technologies Inc.; ATLAS ELEKTRONIK
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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 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%.
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. For instance, according to the Centre for Strategic and International Studies, in the United States, the number of terrorist attacks has increased from 1.5% to 6.4% between 2019 and 2020, which raises the security issue in a country. Therefore, the rising number of terrorist attacks is driving the sonar systems market.
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.
In December 2020, Cohort plc, an England-based defense service provider company, acquired Wartsila ELAC Nautik GmbH, for a deal amount of €