Market Overview:

The Global Sonar Systems Market is expected to record a CAGR of 8.58% during the forecast period (2020-2025).

The increase in the naval manpower of the armed forces due to the acquisition of new ships and submarines and the improvement programs of existing warships are driving the growth of the global sonar systems market. Market growth is also attributed to increased maritime trade, increased exploration, dredging and fishing activities for oil and gas. Countries that rely on central pollsters are expected to generate strong demand for advanced pollsters during the forecast period. Advances in technology could lead countries around the world to acquire advanced sonar systems for their naval fleets, which is expected to drive growth in the studied market in the near future. However, concerns about the impact of sonar systems on marine animals have slowed market growth over the past decade.

Recent Developments:

Ultra-Electronics Command & Sonar Systems has received an order for sound buoys (acoustic parachute submarine detection devices) to be produced for the UK Ministry of Defense (MoD) over the next three years (2019-2021), with an option to include an additional sound buoy in deliveries for another three years, which could extend the contract until 2024.

Market Drivers and Restraints:

Sound Navigation and Telemetry (SONAR) is a technologically advanced technique that uses the propagation of sound to communicate and navigate with objects located underwater. Growth in the warship purchase and upgrade business and increased commercial ship deliveries around the world are expected to drive the market over the forecast period. Diver Detection Probe, Synthetic Aperture Probe, Surveillance Network Probe and Reverse Dual Pulse Probe are the current technology trends that are popular in the market. The factor that is expected to drive the market is an increase in the number of sonar programs for antisubmarine warfare techniques. Additionally, the growing demand for robust buoys for tactical defense operations is expected to drive the market. The growing need for profitable anti-submarine warfare products is an opportunity for the market. However, the secondary effects of sonar on marine life are hampering the growth of the market.

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Report is segmented as:

By Product Type

Hull-Mounted
Stern-Mounted
Sonobuoy
DDS
By Application

Commercial
Defense
By Platform

Ship Type
Airborne
By Solution

Hardware
Software
By End-User

Line Fit
Retrofit
Geographical segmentation:

Based on geography, the global SONAR systems market is divided into regions of the Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America is set to emerge as a lucrative revenue pocket for the sonar system market over the forecast period.

Key market players:

The major players in the SONAR system market are Ultra Electronics (United Kingdom), Neptune SONAR (United Kingdom), Kongsberg Maritime (Norway), Exelis (United States), Thales Underwater Systems Ltd. (United Kingdom), Lockheed Martin (United States), L-3 Klein Associates (United States), General Dynamics Canada (Canada), Teledyne Reson (Denmark) and Raytheon (United States).

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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