The sonar systems are usually applied in the maritime ships and underwater submarines, designed for the application in defense and aerospace sector and the commercial sectors. The demand for sonar systems is anticipated to increase in the forthcoming years owing to the presence of several favorable factors such as enhancing anti-submarine warfare capabilities, flourishing commercial activities such as oil and gas exploration, mining identification, fisheries, growing maritime tourism, rising demand for autonomous ships, and technological upgradations in the sonar systems, among others.
According to MarkNtel Advisors’ research report “Global Sonar Systems Market Analysis, 2020”, the global Sonar Systems market is anticipated to grow at a CAGR of around 10% during 2020-25. Increasing usage of sonar systems in the warships, destroyers, frigates, for the security, mine detection, research and rescue systems has been driving the market for sonar systems globally. The defense sector is the major cornerstone of the sonar systems. The up-gradation in the military force, the changing pattern of combat and increasing geographical, political and religious disputes globally have been further augmenting the segment demand for such systems.
Line Fit Application Segment Contributing to the Largest End-user Application of Sonar Systems
Based on the end-user segmentation, both retrofitting and line fitting segments have been witnessing the lucrative market growth. However, the retrofitting segment is anticipated to achieve the highest CAGR growth rate during 2020-25, owing to the increasing demand form North America, Europe, and the Asia Pacific regions for the installation of upgraded and more efficient sonar systems in the predesigned commercial and defense marine vehicles.
Whereas, the surging demand for autonomous, un-manned water vehicle and a nuclear submarine in the military and defense sector across the globe, has been surging the market for the line-fit market segment.
Performance Efficiency of the Hybrid Operational Mode Sonars Leading to its Substantial Market Growth
The market segmentation of the global sonar market on the basis of mode of operation, the dual-mode segment is projected to attain significant growth during 2020-25. With increasing technological advancements in the sonar systems and automation in the military sector, the countries are adopting next-generation active and passive receivers in their underwater warships and to safeguard themselves from the countering enemy’s quiet water vehicles present at different depths.
Asia- Pacific Region to Contribute Significantly in the Sonar System Market Growth
The Asia-Pacific region is expected to experience the highest CAGR growth during 2020-25. The key driving factors for the market in the region are the expanding defense budgets in the countries such as India, China, Japan, South Korea, propelling maritime combats, stressing political and geographical disputes, flourishing commercial sector of the region leading to more import and export activities and subsequent the increasing demand for commercial ships in the Asia-Pacific region supporting the sonar system market growth from the emerging countries.
Further, China has been developing and deploying highly efficient naval vessels, which more than double time efficient than the US in terms of speed. Further, in 2019, the country has launched its first amphibious assault ship, which has the capacity to carry out attacks on the enemy territory from the sea. More such investments and innovation by the countries in the Asia- Pacific region would lead to propelling Sonar system market.
According to MarkNtel Advisors’, some the of key competitors operating in the Global Sonar Systems market includes Raytheon, Thales, Lockheed Martin, L3, Ultra Electronics, Kongsberg Gruppen, Teledyne, Sonardyne, etc.
“Global Sonar Systems Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Sonar Systems providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for succePastess for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Application (Defense, Commercial)
2. By Product Type (Hull Mounted, Stern Mounted)
3. By Solution (Hardware, Software)
4. By End User (Line Fit, Retrofit)
5. By Installation (Vessel Mounted, Towed, Airborne, Unmanned Underwater Vehicles, Port)
6. By Mode of Operation (Active, Passive, Dual)
7. By Platform (Ship Type, Airborne)
8. By Region (North America, South America, Europe, the Middle East, and Africa, Asia- Pacific)
9. By Country (US, Canada, Mexico, Brazil, Germany, France, Italy, UK, Russia, Saudi-Arabia, Israel, Turkey, China, India, Japan, Australia, South Korea, Philippines)
10. By Company (Reytheon, Thales, Lockheed Martin, L3, Ultra Electronics, Kongsberg Gruppen, Teledyne, Sonardyne, and Others)
Key questions answered in the study:
1. What are the current and future trends of the Global Sonar Systems industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Automatic Weapons industry?
5. What are the customer orientation, purchase behavior, and expectations from the Sonar Systems suppliers across various regions?