According to MarkNtel Advisors, the Global Sonar System Market is expecting around 10% CAGR during 2022-27. The increasing defense budgets by several countries for deploying nuclear submarines & building warships as precautionary measures owing to the surging terrorist activities worldwide are driving the global market.
Moreover, with the mounting use of sonars in Anti-Submarine Warfare (ASW), the increasing developments for systems, such as Synthetic Aperture Sonar (SAS), which produces high-resolution images, is another prominent aspect boosting the market.
Besides, the soaring requirements for UUVs (Unmanned Underwater Vehicles) for military operations and commercial oil & gas exploration activities, coupled with improvements in AUVs (Autonomous Underwater Vehicles), are other prominent aspects expected to create profitable prospects for the global market through 2027, further states the research report, “Global Sonar System Market Analysis, 2022.”
Hull Mounted Sonars to Witness the Maximum Demand in the Global Market through 2027
Hull-mounted sonar systems are likely to continue their dominance in the Global Sonar System Market during 2022-27, primarily due to the mounting need for forward-looking sonars, coupled with the growing interest of global defense forces toward enhancing their respective ASW capabilities.
Moreover, the evolving underwater threats, which are more difficult to detect on account of advancing stealth technologies, are driving the need for enhanced sonar capabilities & multiple sensors. It, in turn, would further augment the demand for hull-mounted sonars and fuel the overall market growth in the coming years.
Asia-Pacific to Display Opportunities for the Leading Players through 2027
With massive funding by several countries in their respective naval sectors and the rapidly increasing domestic ship production across China & South Korea, Asia-Pacific is expected to observe exponential growth prospects in the Sonar System Market during 2022-27. Moreover, on account of various armed standoffs, many countries across the region are procuring new naval vessels and upgrading the existing ones.
In addition to this, China & many other nations are substantially investing in enhancing their ASW capabilities to improve their situational awareness in the sea. Therefore, these aspects indicate remarkable growth opportunities for the market in Asia-Pacific during 2022-27, reveals MarkNtel Advisors in their research report, "Global Sonar System Market Analysis, 2022."
The leading players in the Global Sonar System Market include Reytheon, Thales, Lockheed Martin, L3, Ultra Electronics, Kongsberg Gruppen, Teledyne, Sonardyne, Atlas Elektronik, and Furuno.
Key Questions Answered in the Research Report: