According to Stratistics MRC, the GlobalSonar SystemMarket is accounted for $2.38 billion in 2017 and is expected to reach $5.22 billion by 2026 growing at a CAGR of 9.1% during the forecast period.
— Growing demand for high-resolution imaging for seabed mapping, increasing requirement of ship-owners to obey with the maritime safety norms,and rising number of conflicts, the naval forces use sonar systems to improve anti-submarine warfare capabilities are of the factors fuelling the market growth. However, severe impacts of sonar sound pulse on marine mammals are hindering the market.
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Sonar is an acronym for Sound Navigation Ranging. Sonar system is a generally used system in the marine circles for communication, object detection, and navigation purposes. It is helpful in the exploration and mapping of the ocean as it uses sound as the medium to propagate inside the water and communicate.Globally, the systems are used in a wide range of applications ranging from commercial to military applications.
On the basis of solution, Hardware segment holds the major growth during the forecast period due to high demand for different hardware components and rising requirement for assuring safety, reliability and real-time connectivity.
Based on geography, Asia Pacific holds the significant market share during the forecast period owing to growing government expenses for obtaining advance equipment and rise in maritime border disputes in India, China, and South Korea.
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Some of the key players profiled in the Sonar SystemMarket includeUltra Electronics, Japan Radio (JRC) Co., Ltd., Navico, Furuno, L3 Technologies, Northrop Grumman, Thales, Lockheed Martin, Raytheon, Kongsberg Gruppen, Atlas Elektronik, Teledyne Reson, Sonardyne, and Aselsan.
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Product Types Covered:
• Dipping Sonar
• Hull-Mounted Sonar
• Stern-Mounted Sonar
• Seabed Imaging and Information Sonar
Mode of Operations Covered:
• Unmanned Underwater Vehicles (UUV)
• Hand-Held and Pole Mounted
• Ship Type
• Ultrasonic SONAR
• Infrasonic SONAR
• Synthetic Apertures SONAR System
• Multi Beam Scanning
• Single Beam Scanning
• Other Technologies
End Users Covered:
• Line Fit
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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