Global Sonar Systems and Technology Market Industry Analysis, Size, Share and Growth Trends 2020-2026
Summary - A new market study, titled “Global Sonar Systems and Technology Market Research Report—Forecast till 2025” has been featured on WiseGuyReports.
Global Sonar Systems and Technology Market
Research Report—Forecast till 2025
Market Overview
The Sonar System and technology market is
estimated to witness an incredible market lift during the study period. Sonar
is an abbreviation of Sound Navigation and Ranging that used explores and maps
the ocean by sound waves travel farther in the water than do radar and light
waves; it categorized as active and passive Sonar depending on the mode of
operation. The Sonar has proven its usefulness in defense and some commercial
applications such as diver detection, Search and rescue missions, Detecting
explosive dangers underwater, offshore wind turbines, Pipeline inspections,
Underwater Communications, mine detection, port security, and hydrography.
The values estimation of the Sonar System
and technology market is USD 4,214.4 Million by 2025 at a CAGR of 6.88%. The
prime market driving factors are increasing military expenditure and
up-gradation of fishing vessels. Moreover, the expansion in international
seaborne trade is estimated to inflame the advancement of the global market.
North America is a leading market dominator followed by Europe.
Market Segmentation
The Global Sonar Systems and Technology
Market is segregated by product type, mode of operation, solution, application,
and region.
By product type, the market has been
categorized as hull-mounted sonar, stern-mounted sonar, dipping sonar, and
sonobuoy. The hull-mounted sonar segment is expected to lead the global market
at a CAGR of 5.69% during the study period owing to underwater telephone and
anti-submarine warfare capabilities which upgrades safety.
The mode of operation type of the market is
classified as active, passive, and dual. Based on the solution segment, the
market has been segregated into hardware and software types. By the application
type, the global sonar and technology market has been segmented into defense
and commercial. The defense segment has been sub-segmented anti-submarine
warfare, port security, diver detection, mine detection, and countermeasure
systems, search & rescue, and others, while the commercial segment has been
categorized into fisheries, hydrography, and navigation.
Regional Analysis
The region-specific analysis, the Global
Sonar Systems and Technology Market is spread across North America, Europe,
Asia-Pacific, the Middle East & Africa, and Latin America.
In 2018, North America anticipated the
prime contributor of the global sonar systems and technology market valued at
USD 1,427.4 million and it is expected to exhibit a CAGR of 5.47% during the
study period.
The existence of major manufacturers such
as Raytheon Company, L3Harris Technologies, Inc., and Lockheed Martin
Corporation in the region is fueling the market growth with the highest rate.
Major Players
The prominent market players in the Global
Sonar Systems and Technology Market are Raytheon Company (US), Lockheed Martin
Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (the US),
Kongsberg Maritime (Norway), Aselsan AŞ (Turkey), Teledyne Technologies
Incorporated (US), Ultra Electronics (UK), Wärtsilä (Finland), FURUNO Electric Co.,
Ltd (Japan), Sonardyne (UK), Atlas Elektronik Group (Germany), Navico (Norway),
Japan Radio Co. (Japan), DSIT Solutions Ltd (Israel), and EdgeTech (US).
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