Press release
Sonar System Market 2020 Global Insights and Business Scenario – Thales Group, Lockheed Martin Corporation, Raytheon, Kongsberg Gruppen, Ultra Electronics, Teledyne, Sonardyne
Sonar System Market
The Sonar System Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
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The 203 report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Sonar System Market: Thales Group, Lockheed Martin Corporation, Raytheon, Kongsberg Gruppen, Ultra Electronics, Teledyne, Sonardyne, Atlas Elektronik, Furuno, and Navico.
Industry news and Developments:
02/28/2020: Thales to deliver next-generation sonar systems for the Royal Navy’s Dreadnought submarines
Thales has been awarded a £330 million contract to equip the Royal Navy Continuous at Sea Deterrent (CASD) submarines with the latest Sonar 2076 system and Combat System Mast. Sonar 2076 is the world’s most advanced sonar suite and is currently in service with the Navy’s Trafalgar and Astute Class submarines. The Combat System Mast combines world class visuals, electronic warfare and communications. A total of 520 jobs in the UK at Thales are secured or created by the announcement (350 secured and 170 created) – mainly in the highly-skilled manufacturing, engineering and design sectors. The jobs are based at our sites in Templecombe Cheadle Heath Crawley and Glasgow.
August 5, 2020: Lockheed Martin secures $182 million sonar contract for Indian and Danish MH-60R helos
Lockheed Martin was awarded a $182 million contract for airborne low-frequency sonars (ALFS) related to Indian and Danish Sikorsky MH-60R anti-submarine warfare helicopters. The contract modification, announced Tuesday by the U.S. Department of Defense, is worth more than $182 million and covers production, delivery and integration of 24 ALFSs for the government of India; eight ALFSs for the Navy and seven ALFS for the government of Denmark, into MH-60R Seahawk helicopters. In May, Sikorsky signed a $905 million contract for New Delhi’s 24 MH-60Rs, with the first delivery expected in 2021. Cirium fleets data indicates that the Royal Danish Air Force operates nine MH-60Rs with an average age of 3.3 years.
Key Market Trends
With the increasing use of UUVs for military operation coupled with the rise in the demand for the effective sonar surveillance systems is anticipated to boost the demand for the sonar systems. The growing demand from the defense sector owing to the rising number of fleet of navies is likely to support the growth of the market. With the increasing consumption of oil & gas globally is speeded up oil and gas exploration activities. The growing development of the sonar system for increasing the range of sound waves and the growing use of the sonar system in the fishery industry are some of the factors that are expected to propel the growth of the market over the forecast period. However, waves produced by the sonar are interfering with whales, dolphins, and turtles affecting marine life. This, in turn, may affect the growth of the market. Moreover, the government support for the manufacturing of effective sonar system is creating an opportunity for the market to grow.
Influence Of The Sonar System Market Report:
-Comprehensive assessment of all opportunities and risk in the Sonar System market.
- Sonar System market recent innovations and major events.
-A detailed study of business strategies for growth of the Sonar System market-leading players.
-Conclusive study about the growth plot of Sonar System market for forthcoming years.
-In-depth understanding of Sonar System market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Sonar System market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Sonar System Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
The report has 150 tables and figures browse the report description and TOC:
https://www.marketinsightsreports.com/reports/08262257114/global-sonar-system-market?source=openpr&Mode=12
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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