Global Sonar System Market 2024 Growth Analysis of all Top Key Players Like Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, L3 Technologies, Teledyne, Sonardyne, Atlas Elektronik, Furuno, Navico and JRC

The global sonar system market witnessed moderate growth over the past few years on account of growing applications of these systems in the military and naval sectors coupled with technological innovations.

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According to the latest market research report by IMARC Group, titled “Sonar System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global sonar system market reached a value of US$ 4.2 Billion in 2018. Sonar stands for Sound Navigation and Ranging which is a remote sensing technique that uses sound waves to detect, locate and identify objects in the water. A sonar system consists of front-end signal conditioning units, signal processors, underwater transducers, and displays. There are two major types of these systems, namely, active systems which emit acoustic signal or pulse into the water and passive systems which listen to the sound waves coming towards them from marine objects and animals. These systems are mostly used for underwater navigation and surveillance. They also help in determining water depth and characteristics of the ocean bed, locating various objects in it.

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Market Trends:

Sonar systems remain the primary surveillance technique used in naval ships and submarines for facilitating underwater communications as well as detecting and tracking enemy vessels and torpedoes. Moreover, manufacturers are engaged in R&D activities to develop advanced sonar systems. For instance, synthetic aperture sonar (SAS) has been successfully tested outside the sea with signal processing by the Norwegian Defense Research Establishment (FFI). In addition, high-resolution interferometric synthetic aperture sonar (HISAS) has been developed with the capability of producing ultra-high-resolution acoustic images as well as co-registered bathymetry with a frequency range of 70-100kHz. According to IMARC Group, the market value is projected to reach US$ 5.3 Billion by 2024, exhibiting a CAGR of around 4% over the forecast period (2019-2024).

Market Segmentation:

Market Breakup by Mode of Operation:

1. Commercial Active

2. Military Dual Mode

3. Military Passive

Based on the mode of operation, the market has been segmented into commercial active, military dual mode and military passive. Currently, commercial active mode dominates the market, holding the largest share.

Market Breakup by Product Type:

1. General-Purpose Hull Mounted Sonar

2. Seabed Imaging and Information Sonar

3. Stern Mounted Sonar

4. Dipping Sonar

5. Others

On the basis of product types, general-purpose hull-mounted sonar is the most popular product type, followed by seabed imaging and information, stern mounted, dipping and others.

Market Breakup by Installation:

1. Vessel Mounted

2. Towed

3. Hand-Held and Pole Mounted

4. Airborne

5. UUV

6. Others

Based on the installation, the market has been segmented into vessel mounted, towed, hand-held and pole mounted, airborne, UUV and others. Amongst these, vessel mounted accounts for the largest share in the market.

Market Breakup by Operating Frequency:

1. High

2. Medium

3. Low

On the basis of the operating frequency, the market has been categorized as high, medium and low. Presently, high operating frequency exhibits a clear dominance in the global market.

Market Breakup by Application:

1. Hydrographic Charting

2. Offshore Oil and Gas

3. Port and Harbour Management

4. Coastal Engineering

The market has also been segregated on the basis of applications into hydrographic charting, offshore oil and gas, port and harbor management and coastal engineering. Hydrographic charting currently represents the biggest application segment, accounting for the majority of the overall market share.

Market Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Middle East and Africa

5. Latin America

Region-wise, North America enjoys the leading position in the global market. Other major regions in the market include Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been analyzed with some of the key players being Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, L3 Technologies, Teledyne, Sonardyne, Atlas Elektronik, Furuno, Navico and JRC.

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This release was published on openPR.