DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/8x9b78/sonobuoy_market) has announced the addition of the "Sonobuoy Market - Global Trends and Forecasts to 2020" report to their offering.
The sonobuoy market is estimated to be valued at USD 226.11 Million in 2015 and is projected to reach USD 316.59 Million by 2020, at a CAGR of 6.96% during the forecast period from 2015 to 2020. Factors, such as the increasing focus by countries on strengthening their Anti-Submarine Warfare (ASW) capabilities, an increase in the efficiency of sonobuoys due to various technological advancements and the rise in maritime disputes in Asia-Pacific, are expected to drive the growth of the sonobuoy market.
The key applications considered for the market study are defense and civil, wherein the overall sonobuoy market is dominated by the defense segment. This segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the high demand for sonobuoys which form an integral part of anti-submarine warfare (ASW) which is a key area of importance due to the increasing maritime disputes and the development of stealthier submarines.
The segment comprising passive sonobuoys dominates the sonobuoy market, segmented based on function. This segment dominates the studied market, and is expected to continue its dominance over the next 5 years, primarily driven by the high demand for passive sonobuoys which are more effective in detection due to their ability to prevent the detection of a tracking aircraft by a submarine.
The APAC region is expected to exhibit the highest growth rate in the sonobuoy market, and is projected to grow at a CAGR of -8% during the forecast period from 2015 to 2020. The growth of the sonobuoy market in this region can be attributed to the rise in maritime disputes and increased government spending by countries, such as China to strengthen their anti-submarine warfare capabilities.
Some of the factors such as limited capability of sonobuoys to detect increasingly stealthier submarines in littoral zones may limit the growth of this market.
- Sparton Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Sonobuoy Market, By Function
8 Sonobuoy Market, By Application Type
9 Sonobuoy Market, By Technology
10 Sonobuoy Market, By Deployment
11 Sonobuoy Market, By Size
12 Sonobuoy Market, By Range
13 Sonobuoy Market, By Platform
14 Sonobuoy Market, By Geography
15 Competitive Landscape
16 Company Profile (Overview, Financials, Products & Services, Strategy, And Developments)*
- General Dynamics Mission Systems
- Lone Star Electronics Co.
- Radixon Group
- Sealandaire Technologies Inc.
- Sigma-Pi Power Sources Pvt Ltd
- Sparton Corporation
- Thales Group
Ultra Electronics Group
For more information visit http://www.researchandmarkets.com/research/8x9b78/sonobuoy_market