Sonar Market 2022 Top Growing Companies Analysis and Segmentation Outlook till 2028 | Thales Underwater Systems Ltd, Ultra Electronics, Northrop Grumman, Atlas Elecktronik

The "Sonar Market" report describes in detail the demand and consumption of various products related to the market growth dynamics during the forecast period of 2022-2028. A detailed market assessment of the various opportunities in the market segment is expressed in terms of quantity. These are discussed in many sections, including constraints, challenges and opportunities, regional breakdown, and opportunity assessment. This global Sonar Market report guarantees rich data on various market opportunities. The research report covers key gaming enthusiasts within the industry, CAGR value, market drivers, restraints, and international competitive strategies from the region.  The report includes strong research from expert analysts.

The global Sonar Market is expected to grow with a CAGR greater than 1.9% during the forecast period of 2022-2028.

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Market Overview:

The increasing naval feet of the armed forces due to the procurement of new ships and submarines and the upgrade programs for the existing naval vessels are driving the growth of the Sonar Market. In addition, the growth of the market is also attributed to the rise in maritime trade, increasing oil and gas exploration, dredging, and fishing operations. The countries that are dependent on basic fish finders are expected to generate a high demand for advanced sonar devices during the forecast period. Technological advancements may lead countries across the world to procure advanced sonar systems for their naval fleet, and this is expected to propel the growth of the market studied in the near future.

Furthermore, an increase in the adoption of unmanned underwater vehicles (UUV) is expected to propel market growth. Underwater drones are used for applications such as ship hull inspection, wreck inspection, ocean floor mapping, hydrothermal vent detection, underwater exploration, oceanic research, and mining among others. UUVs use synthetic aperture sonar that combines acoustic signals to form a high along-track resolution image of the target. Moreover, UUVs play a crucial role in naval warfare due to their capabilities such as minesweeping, intelligence gathering, surveillance, reconnaissance, and submarine combat.

The major companies operating in the global Sonar Market outlined in the report are:

Thales Underwater Systems Ltd,Ultra Electronics,Northrop Grumman,Atlas Elecktronik,Lockheed Martin,Raytheon,Exelis,Kongsberg Mesotech,Sonardyne,L-3 Klein Associates,Furuno,Teledyne,DSME,Edge Tech,Haiying-Cal,HITARGET

Recent Development:

Atlas Elektronik has acquired 1 company of its own. Atlas Elektronik's largest acquisition to date was in 2009, when it acquired QinetiQ Group - Underwater Systems Business for $36M. The Company's most targeted sectors include aerospace (100%).

Raytheon Technologies has acquired 23 companies, including 5 in the last 5 years. A total of 4 acquisitions came from private equity firms. It has also divested 18 assets. Raytheon Technologies' largest acquisition to date was in 2017, when it acquired Rockwell Collins for $30.0B. It's largest disclosed sale occurred in 2015, when it sold Sikorsky Aircraft to Lockheed Martin for $9.0B. Raytheon Technologies has acquired in 14 different US states, and 3 countries. The Company's most targeted sectors include safety/security (24%) and aerospace (20%).

Exelis has acquired 6 companies of its own. A total of 3 acquisitions came from private equity firms. It has also divested 1 asset. Exelis' largest acquisition to date was in 2013, when it acquired C4i Pty. for $17M. Exelis has acquired in 2 different US states, and 4 countries. The Company's most targeted sectors include software (50%) and defense (17%).

Sonar Market Segments:

Market Segmentation: By Type

Single Beam Scanning Sonar System

Multi-beam Sonar System

Side Scan Sonar System

Other

Market Segmentation: By Application

Commercial Area

Scientific Area

Military Area

Other

Regions Are covered by Global Sonar Market 

For a comprehensive understanding of market dynamics, the Global Sonar Market is analyzed across key geographies namely: 

North America (United States, Canada, and Mexico) 

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, and Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

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The study objectives of this report are:

- To study and analyze the Global Sonar market size (value and volume) by the company, key regions/countries, products and applications, history data from 2016 to 2021, and forecast to 2028.

- To understand the structure of Sonar by identifying its various subsegments.

- To share detailed information about the key factors manipulating the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).

- To analyze the report with respect to individual growth trends, future prospects, and their contribution to the total market. 

- To analyze modest developments such as expansions, agreements, new product launches, and acquisitions in the market.

- To strategically profile the key players and comprehensively analyze their growth strategies.

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Scope of The Sonar Market Report:

- The report analyses Sonar by Type Segment.

- The report assesses the Sonar by the End User. 

- The Global Sonar has been analyzed by Region.

- The key insights of the report have been presented through the frameworks of SWOT and Market Attractiveness charts.

- The attractiveness of the market has been presented by Region, Type, and by End User. Additionally, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.

- The report provides a detailed pipeline analysis developed to cure the problem of Sonar.

- The report tracks competitive developments, strategies, mergers and acquisitions, and new product development.

-To take advantage of business owners, tap hard at Sonar research to get a thorough understanding of current momentum.

- The report presents the analysis of Sonar for the historical period of 2016-2021 and the forecast period of 2022-2028.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

Customizable: The Global Sonar Market

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