LONDON--(BUSINESS WIRE)--The global sonobuoy market is expected to register a CAGR of around 7% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the growing demand for strengthening ASW capabilities. Anti-submarine are marine systems that are operated through the surface warship, aircraft, or submarines. Such technologies are developed to track, locate, and destroy hostile and potential pirate submarines underwater. Navies are developing and focusing more on ASW capabilities because of the regional proliferation of submarines.
This market research report on the global sonobuoy market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the introduction of new software for communication as one of the key emerging trends in the global sonobuoy market:
Global sonobuoy market: Introduction of new software for communication
Upgraded performance software is now being integrated into aircraft for better network connectivity. This will enhance the overall communication and navigation capabilities. The introduction of new software for better communication also includes multi-static, active coherent technology. Unlike monostatic conventional sonobuoys, the multi-static system allows sonobuoys to listen to the pings emitted by other bouys also.
“The software upgradation and better connectivity will augment the sonobuoy processing capability and expand the operator’s recognition differential with improved sensors and higher-resolution displays. The technological advancement is also expected to improve the dispensing and monitoring capabilities of the aircraft,” says a senior analyst at Technavio for research on defense.
Global sonobuoy market: Segmentation analysis
This market research report segments the global sonobuoy market into the following end-users (defense, commercial, and special purposes) and key regions (the Americas, APAC, and EMEA).
The defense segment held the largest market share in 2017, accounting for over 60% of the market. This segment is expected to demonstrate a significant increase in market share during the forecast period.
The Americas held the highest share of the global sonobuoy market in 2017, accounting for a market share of approximately 42%. This market in this region is anticipated to grow steadily through 2022.
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