As per our analysis report, the global SONAR systems market is expected to reach USD 3.35 billion by 2028 from USD 2.27 billion in 2023, growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period.
SONAR stands for Sound Navigation and Ranging, a technique used to detect objects above or below the surface of the water. It can be used for a variety of applications, such as military, commercial, scientific, fishing, hydrology, underwater warfare, and threat detection mines. SONAR systems are also used for robotic navigation and atmospheric navigation. They use very high acoustic frequencies. The side scan and the multi-beam SONAR are cutting-edge technologies that help in detailed mapping and obtaining seabed images.
MARKET DRIVERS:
The growing number of maritime trade activities worldwide, the increasing demand for shipowners to comply with maritime safety standards, and the burgeoning marine tourism sector are majorly driving the growth of the
Governments and large corporations are investing heavily in this new technology, which could lead to the growth of the SONAR systems market. Innovation is expected to continue in the synthetic opening. SONAR leads the market to improve the quality of resolution for complementary applications and achieve several contracts. Some of the critical factors affecting the market are advances in underwater combat technology, the development of digital signal processing that has improved the handling and communications underwater, and the growing demand for Sonobu in operations of tactical defense and active development. The increase in investment in research, the use of unmanned underwater vehicles (UUVs), and the acquisition in recent years have greatly improved the market. UUV has become a platform for many commercial and military applications, including surveillance and mining measures. This is likely to stimulate the SONAR systems market in the future.
MARKET RESTRAINTS:
The side effects on marine life due to the use of SONAR are a significant challenge in this market.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
CAGR |
8.10% |
Segments Covered |
By Components, Application, System Type, Fit, and Region |
Various Analyses Covered |
Global, Regional, and country-level analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global SONAR systems market has been segmented and sub-segmented into the following categories.
Global SONAR Systems Market - By components:
In 2018, the beam-forming processor sector covered the market, followed by hydrophone, which is predicted to be dominant in the coming years.
Global SONAR Systems Market - By Application:
In 2018, the military sector dominated the overall market, followed by the scientific division, which is projected to lead in the foreseen years.
Global SONAR Systems Market - By System type:
In 2018, the multi-beam SONAR system segment dominated the market, followed by a single-beam system, and this segment is foreseen to be dominant in the estimated period.
Global SONAR Systems Market – By Fit:
The retrofit segment of the market is expected to have a higher CAGR than the line adjustment segment during the forecast period. As the number of renewal orders for existing commercial ships increases, the retrofit segment is growing.
Global SONAR Systems Market - By Region:
In 2018, North America's SONAR systems market was the leading market, followed by Europe. The United States is the dominant region in North America, as well as in the world. Improvements in sensor technology and passive and active SONAR are vital drivers of the SONAR systems market in the United States and North America.
The Asia-Pacific SONAT systems market is likely to grow at the highest CAGR during the forecast period. China is expected to be an important market in the Asia-Pacific region. The growing demand for medical applications and the increasing demand for SONAR systems in tactical defense operations are a few key factors driving the demand for these systems in China, as well as in the Asia Pacific. The increasing use of SONAR systems, especially in a variety of applications, such as fishing, weapons, medical, and infrastructure research, supports the Indian market.
Europe's Sonar systems market is anticipated to grow at a constant rate. The United Kingdom and Germany are the main markets for this industry in Europe. Latin America, the Middle East, and Africa are assumed to grow at a healthy pace during the forecast period. Saudi Arabia and the UAE are the main markets in the Middle East and Africa. In a variety of applications, such as defense, medicine, and research, the growing demand for SONAR systems is one of the key factors driving demand in the Middle East and Africa markets.
KEY MARKET PLAYERS:
Companies such as Thales Group, Kongsberg Gruppen, Lockheed Martin Corporation, Raytheon, Northrop Grumman Corporation, Aselsan AS, Atlas Elektronik Gmbh, and others are some of the famous companies in the market. Kongsberg Gruppen offers advanced technology systems to customers in the maritime, oil and gas, aerospace, and defense industries. The company provides offshore engine monitoring systems through the Kongsberg Offshore Division. Raytheon is one of the largest defense contractors in the world and serves government and commercial clients.
RECENT HAPPENINGS IN THE MARKET:
Frequently Asked Questions
The SONAR systems market is the sound navigation and ranging (SONAR) systems market. SONAR technology uses sound waves to detect and locate objects underwater.
As per our analysis report, the global SONAR systems market is expected to reach USD 3.35 billion by 2028 from USD 2.27 billion in 2023, growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period.
The segments covered in the SONAR Systems Market are By Components, Application, System Type, Fit, and Region.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1800
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region