Global SONAR System Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

Technavio has published a new report on the global SONAR system market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--The global SONAR system market is projected to grow to USD 3.59 billion by 2021, at a CAGR of more than 8% over the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global SONAR system market for 2017-2021. Based on the application, the market is divided into defense; and civil and commercial segments.

 
Sound navigation and ranging, or SONAR, is a sensing technique of employing sound propagation for navigating, detecting, and communicating with underwater objects. Owing to the increasing investment on maritime warfare, the global naval combat systems market, including SONAR systems, is anticipated to witness stable growth rates during the forecast period.
 

Technavio’s research study segments the global SONAR system market into the following regions:

  • Americas
  • APAC
  • EMEA

SONAR market in the Americas

The US has been the single largest user of both surface and underwater naval vessels since the last five decades. The evolution of high channel count fiber-optic towed arrays can be cited as one such instance where Northrop Grumman and the US Navy had collaborated for over 15 years,” says Moutushi Saha, a lead analyst at Technavio for defense research.

Lockheed Martin has also signed an agreement with the US Navy for the development and supply of a comprehensive array of sensors for submarines. Likewise, other key countries in the region, like Brazil, Canada, Mexico, and Argentina, are also spending substantially for the enhancement of their respective naval capabilities. Such initiatives are anticipated to drive the growth of the SONAR system market in the Americas during the forecast period.

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SONAR market in APAC

APAC is anticipated to register the highest growth in terms of demand for SONAR systems and other associated equipment during the forecast period. This demand is primarily driven by the enhancement of undersea capabilities in countries like China, India, Japan, South Korea, and Australia.

The volatile nature of security conditions in APAC has drawn substantial investments in underwater warfare technologies. Several undersea and surface vessels programs have been developed in the last decade in countries like India and China. Malaysia also has collaborations in place for the upgrade and maintenance of two of its Scorpene-class submarines.

SONAR market in EMEA

The markets for sonar and associated components in EMEA have transformed over the years. Soon after the end of Cold War, littoral warfare emerged as a key area of interest among several European countries. Also, Europe is undertaking replacement and modernization-related activities for naval assets, which boosts the adoption of advanced sonar systems in the region.

A sizable portion of demand for SONAR systems is anticipated to be reflected from the Middle Easter and Africa, owing to the region's growing participation in offshore oil and gas exploration activities. Also, countries like the UK, France, and Russia maintain vast coastlines, which require adequate investments in coastal engineering activities,” says Moutushi.

The top vendors in the global SONAR system market highlighted in the report are:

  • ATLAS ELEKTRONIK
  • Kongsberg Maritime
  • Lockheed Martin
  • Raytheon
  • Thales
  • Ultra Electronics

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global SONAR system market is projected to grow to USD 3.59 billion by 2021, at a CAGR of more than 8% over the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com