Press release
Global Sonobuoy Market: Market size and growth, absolute dollar opportunity, market taxonomy, Basis Point Share (BPS) analysis 2018-2025
Global Sonobuoy Market
Description
This report studies the global Sonobuoy market status and forecast, categorizes the global Sonobuoy market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, India, Southeast Asia and other regions (Central & South America, and Middle East & Africa).
A sonobuoy (a portmanteau of sonar and buoy) is a relatively small buoy (typically 13 cm or 5 in, in diameter and 91 cm or 3 ft long) expendable sonar system that is dropped/ejected from aircraft or ships conducting anti-submarine warfare or underwater acoustic research. A tactical sonar system for transmitting submarine activity, the sonobuoy is a core technology for anti-submarine warfare.
The Major regions to produce Sonobuoy are North America and Europe which accounting for about 90 % of sales revenue in total. North America is the largest demand region (sales value share 68% in 2017). Sonobuoy product demand is in a certain space, and the main consumer countries are moderately developed countries and developed countries.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area; the future will still have more new investment enter the field.
Increasing need amongst emerging economies to strengthen their anti-submarine operations and to monitor their natural resources are major factors driving the growth of the global sonobuoy market. Demand for sonobuoys is strongly associated with the growth of anti-submarine warfare market. Moreover, demand for passive sonobuoys is expected to increase because of the fact that it performs detection and tracking without notifying the target object about its presence, and this is expected to reflect in the revenue forecast. However, stringent regulations, high costs associated with deployment and monitoring of sonobuoys, technical limitations, etc. are major challenges expected to be faced by market players in the global sonobuoy market during the forecast period.
The global Sonobuoy market is valued at 270 million US$ in 2017 and will reach 360 million US$ by the end of 2025, growing at a CAGR of 3.5% during 2018-2025.
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The major manufacturers covered in this report
Sparton
Ultra Electronics
Thales
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
Active Sonobuoy
Passive Sonobuoy
Special Purpose Sonobuoy
By Application, the market can be split into
Defense
Civil
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