Industry Background:
Sonar (Sound Navigation and Ranging) system is electronic device used to Navigate and communicate with object using sound transmission under the surface of water. Sonar system is working by using echo. When any animal or machine makes noise, sonar system sends sound waves to object around it. Sonar System primarily used to detect noise of marine animal such as whales. Additionally, the operative usage of sonar systems confirms effective exploration and mapping of oceans by using sound waves. Sonar system has various usage such as defense, fishing, hydrographic research and oil and gas exploration. There are two type of sonar system including active sonar and passive sonar. In active sonar, the system releases a pulse of sound and then the operator listens for reverberations. In passive sonar, the worker listens to noises released by the object one is trying to locate.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Kongsberg Gruppen ASA (Norway), Lockheed Martin Corporation (United States), ATLAS ELEKTRONIK GmbH (Germany), Furuno Electric Co., Ltd. (Japan), Navico (Norway), Thales Group (France), Ultra Electronics (United Kingdom), Northrop Grumman (United States), Raytheon (United States) and Exelis (United States) |
According to AMA, the market for Sonar System is expected to register a CAGR of 6.3% during the forecast period to 2027. This growth is primarily driven by Rising Demand in Fishery Industry and Increasing Number of Marine Defense Ship.
Globally, a noticeable market trend is evident Adoption of Integrated Sonar System
Major Manufacturers, such as Kongsberg Gruppen ASA (Norway), Lockheed Martin Corporation (United States), ATLAS ELEKTRONIK GmbH (Germany), Furuno Electric Co., Ltd. (Japan), Navico (Norway), Thales Group (France), Ultra Electronics (United Kingdom), Northrop Grumman (United States), Raytheon (United States) and Exelis (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 6th July 2018, Kongsberg Gruppen ASA (KONGSBERG) has acquired Rolls-Royce Commercial Marine, leading global player of maritime operations.
On 5th December 2018, Lockheed Martin Corporation has offers 360-degree detection capability and situational awareness with high frequency passive sonar. Which is helping submarine commanders to improve their tactical control when working in harbors, shallow-water coastal zones as well as in the open ocean.
Influencing Trend:
Adoption of Integrated Sonar System and Growing Dependency on High-Resolution Imaging for Seabed Mapping
Market Growth Drivers:
Rising Demand in Fishery Industry and Increasing Number of Marine Defense Ship
Challenges:
Environmental Challenges
Restraints:
Contrary Effects of Sonar Systems on Marine Life
Opportunities:
Up Surging Demand in Defense Sector and Fueling Demand of Unmanned Underwater Vehicles for Defense Applications
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 System Market
- Analysis about New Entrants in Sonar System 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 System Study Sheds Light on
The Sonar System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Sonar System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Sonar System 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.