Industry Background:
The rising number of terrorist attacks, governments across the globe are increasing their defense budgets for building warships and deploying nuclear submarines as a part of their military strategies will help to boost global sonar system market. Sound navigation and ranging (SONAR) is a technique which employs sound waves for navigating, communicating, and detecting lost or hazardous objects. Sonar systems are divided into passive and active sonar. Active sonar systems emit acoustic waves into the water and listen to their echoes underwater, while, passive sonars do not generate their own signals and listen to the sounds produced by other vessels. Currently, they are extensively used for fishing, oil exploration, hydrography, marine observation, and nautical charting activities.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | Raytheon (United States), Lockheed Martin (United States), Thales (France), Kongsberg Gruppen (Norway), Ultra-Electronics (United Kingdom), L3 (United States), Teledyne (United States), Sonardyne (United Kingdom), Atlas Elektronik (Germany) and Furuno (Japan) |
This growth is primarily driven by Upsurge in the Number of Sonar Programs for Anti-Submarine Warfare (ASW) Techniques, Increasing Demand for Sonobouy for Tactical Defense Operations and Growing Demand for Fisheries.
Globally, a noticeable market trend is evident Increasing Demand for High-Resolution Imaging for Seabed Mapping
The Aerospace & Defense sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Raytheon (United States), Lockheed Martin (United States), Thales (France), Kongsberg Gruppen (Norway), Ultra-Electronics (United Kingdom), L3 (United States), Teledyne (United States), Sonardyne (United Kingdom), Atlas Elektronik (Germany) and Furuno (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Sonar Systems market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
On 18th July 2018, Leonardo has arrived partnerships with L3 Technologies and Ultra Electronics Command & Sonar Systems for in offer a complete Anti-Submarine Warfare (ASW) acoustic system based on Leonardo's new lightweight ULISSES processor.
On 14th June 2018, Australia’s Defence Industry has announced major upgrades of the Thales sonars on Australia’s fleet of six Collins Class submarines. The sonar upgrades are important to extend the life of the Collins class submarines and maintain their regional superiority. The deal was established for 230 million dollars contract with Thales.
Influencing Trend:
Increasing Demand for High-Resolution Imaging for Seabed Mapping, Advancements in Active Sonar Technologies and Upsurge in Defense Expenditure
Market Growth Drivers:
Upsurge in the Number of Sonar Programs for Anti-Submarine Warfare (ASW) Techniques, Increasing Demand for Sonobouy for Tactical Defense Operations and Growing Demand for Fisheries
Challenges:
Growing Concern Related Complex Training Involved in Building Anti-Submarine Warfare Capability
Restraints:
Side-Effects of Sonar on Marine Life
Opportunities:
Rising Requirement for Cost-Effective Sonar Systems for Anti-Submarine Warfare and Huge Demand for Unmanned Underwater Vehicles
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Sonar Systems Market
- Analysis about New Entrants in Sonar Systems Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Sonar Systems Study Sheds Light on
The Sonar Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Sonar Systems industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sonar Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.