Global Sonar Systems and Technology Market Outlook, Prospect and Future 2025
Summary - A new market study, titled “Global Sonar Systems and
Technology Market Research Report—Forecast till 2025”has been featured on
WiseGuyReports.
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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