Sonar System Market Size, Scope, Growth Opportunities Forecast 2022-28

According to Precision Business Insights (PBI), the latest report, the sonar system market size is expected to be valued at USD 6253.2 million in 2022 which is expected to grow at a CAGR of 2.1% from 2022-2028. The primary factors that drive the global sonar system market insights are increasing acceptance of sonar systems by naval forces to improve the anti-submarine conflict abilities of marine militaries across the world, increasing demand for higher image resolution for seabed mapping, and increasing use of sonobuoy in the strategic defense program.

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Anti-submarine warfare to Dominate the Sonar System Market:
Based on the application type, anti-submarine warfare (ASW) holds the highest market share. The major factor for the rise of this segment is the exceptional use of ASW. ASW is an underwater war division that serves surface warships submarines to track, locate and terminate submarines of enemies. Enhanced Detection technology labored in the ASW which has made the submarines tougher and quieter to be detected can drive the growth of the global sonar system market insight. Apart from this, a target submarine is initially spotted, classified, positioned, and followed using innovative technology. Hence, sensors are a significant part of ASW.

Asia Pacific Sonar System Market:
Asia Pacific region is expected to grow significantly in the global sonar system market over the forecast period. The Asia Pacific region is expanding as a result of increased expenditure on naval forces. Apart from this, the increase in the production of domestic ships in China and South Korea, technological advancement in ship systems by numerous shipbuilding companies in South Korea, and increasing deliveries of commercial ships in Japan are some of the reasons for the potential growth of the Sonar System market in these regions. Moreover, China is improving its anti-submarine warfare abilities from coastal defence to blue-water operation which can further propel the market growth.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players
The global sonar system market insights reveal that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In March 2021, Thales and MHI joined forces to come up with Dual Frequency sonar demonstrator to assess the sea bottoms in France and Japan. In April 2021, two new Pole Mount Sub-Bottom Profilers, introduced by EdgeTech, was given to 3400 Sub-Bottom Profiling Systems.

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The sonar system market is segmented based on, product type, platform, application, end users, and region.
Based on the product type, the market is segmented into the following:
• Hull-mounted Sonar
• Stern-mounted Sonar
• Dipping Sonar
• Sonobuoy

Based on the platform, the market is segmented into the following:
• Commercial Vessels
• Defence Vessels
• Unmanned Underwater Vehicles (UUVs)
• Aircrafts
• Ports

Based on the application type, the market is segmented into the following:
• Anti-submarine Warfare
• Port Security
• Mine Detection & Countermeasure Systems
• Search & Rescue
• Navigation
• Diver Detection
• Seabed Terrain Investigation
• Scientific
• Others

Based on the end users, the market is segmented into the following:
• Line Fit
• Retrofit

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the sonar system market report are Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, L3 Technologies, Teledyne, Sonardyne, Atlas Elektronik, Furuno, Navico, and JRC.

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