According to the latest report published by Variant Market Research,the global sonar system market size is projected to reach $4.8 Billion by 2025. In this report, sonar systemmarket forecast says that the global market is growing at a CAGR of 4.0% from 2017 to 2025. By geography, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. A sonar system is useful to transfer sound waves to trace objects below the surface of the water. SONAR stands for Sound Navigation and Ranging. This system assist exploring as well as mapping the ocean as sound waves travel farther in the water than radar & light waves.
Sonar System Market (By Installation: Vessel Mounted, Hand-Held and Pole Mounted, Towed, Airborne, UUV, Other Installations; By Mode of Operation: Commercial Active, Military Passive, and Military Dual Mode; By Product Type: General-Purpose Hull Mounted Sonar, Stern Mounted Sonar, Seabed Imaging and Information Sonar, Dipping Sonar, and Other Sonar; By Operating Frequency: High, Medium, and Low; By Application: Defense, and Commercial; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Growing demand of sonar systems in advanced defense forces drives the global sonar system market
The global sonar system market trend includes high adoption in the anti-submarine warfare methods, growing demand of sonar systems in advanced defense forces, and growth in application of these systems in the fishery industry. However, hostile effects of sonar system in marine life might act as a barrier for the global sonar system market growth. Moreover, increase in demand for high-resolution imaging for seabed mapping is likely to offer worthwhile opportunities for the market in the coming years.
Installation, mode of operation, product type, operating frequency, application, and geography are the classification of the global sonar system market. The installation segment is categorized into vessel mounted, hand-held and pole mounted, towed, airborne, unmanned underwater vehicles (UUV), and other installations. Commercial active, military passive, and military dual mode are the segmentation of mode of operation segment. Product type segment is sub-segmented into general-purpose hull mounted sonar, stern mounted sonar, seabed imaging and information sonar, dipping sonar, and other sonars. On the basis of operating frequency, the segmentation includes high, medium, and low. Application includes defense, and commercial.
By geography, global sonar system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further split in U.S., Canada, and Mexico, whereas Europe segment consists of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, India, South Korea, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
General-purpose hull mounted sonar, by product type held largest share of the Sonar system market in 2017
On the basis of product type, general-purpose hull mounted sonar segment held the largest share of the Sonar system market in 2017.The growth of this segment is driven by the fact that these sonars are fixed in ship’s hull for navigation as well as threat detection.
Underwater unmanned vehicles (UUV), by installation is anticipated to gain the fastest CAGR between 2017 and 2025
Underwater unmanned vehicles (UUV), by installation are predicted to achieve the fastest CAGR during the forecast period. The growth of this segment is attributed to increasing use of UUVs in many applications including seabed mapping, hydrographic survey, mine hunting, and military surveillance.
Asia-Pacific is expected to be the fastest growing market during the forecast period
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period, driven by factors such as growing defense expenditure for naval shipbuilding & hydrographic oil & gas exploration in the Asia Pacific region. Considerable investments by China in naval as well as commercial shipbuilding are driving the sonar system market in the Asia Pacific region.
Key players are offering innovative products and services to increase their sonar system market share. Main players competing in the market include Neptune SONAR, General Dynamics Corporation, Raytheon Company, Ultra Electronics, Kongsberg Maritime, Thales Underwater Systems Ltd., Lockheed Martin Corporation, Harris Corporation, Teledyne RESON, and L-3 Klein Associates, among others.