Sonar System Market Size, Status, Global Demand and Growth Opportunities 2022-Thales Underwater Systems, Ultra Electronics

The MarketInsightsReports has added a new statistical data to its repository titled as, Sonar System Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. This market report is a detailed study on the growth, investment opportunities, market statistics, growing competition analysis, major key players, industry facts, important figures, sales, prices, revenues, gross margins, market shares, business strategies, top regions, demand, and developments.

The sonar systems market is expected to grow from USD 1,680.59 million in 2021 to USD 2,497.01 million in 2026, witnessing a CAGR of 8.24% during the forecast period (2021-2026).

Top Companies in the Sonar System Market- Thales Underwater Systems, 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 and other.

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Market Overview
SONAR is a system that uses sound transmission to communicate, navigate the objects on or under the surface of the water. Based on type, the market is segmented into passive SONAR systems market and active SONAR systems market. In 2016, among the various type, active SONAR systems segment dominated the market followed by passive SONAR systems. In addition, active SONAR systems is also expected to grow at the highest rate for the coming years. Improvement in anti-submarine warfare techniques is one of the key factor fueling the demand of active SONAR systems segment in SONAR system market.

Sonar systems are extensively used in naval warfare as they are effective against mines and help in anti-submarine warfare. Most countries are modernizing their naval fleet to enhance their maritime capabilities.

Since ships and other naval vessels are required to tread over a vast stretch, sonar systems are used to navigate or detect underwater obstacles to avoid shipwrecking. The increasing naval fleet 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 systems market. However, concerns related to the impact of sonar systems on marine animals have emerged as a major restraint for the market.

Industry news
In October 2021, Kraken Robotics announced that it has signed a Robotics as a Service (RaaS) contract with the Canadian government for testing of Kraken's ultra-high-resolution survey equipment with the Royal Canadian Navy (RCN). Under the contract, Kraken will deploy its KATFISH towed SAS sonar system and will integrate a Kraken Light Weight SAS (LW-SAS) onboard a REMUS 100 (AUV) owned by FDU-A. The contract will be completed by March 2022.

In July 2021, Cohort's wholly owned subsidiary, ELAC SONAR, has secured an order from Leonardo to support the Italian Navy's new U212 Near Future Submarines (NFS). The order, valued at USD 58 million, will see ELAC provide sonar systems along with special test and training tools, as well as related technical services for two new U212 NFS.

Global Sonar System Market Split by Product Type and Applications:

Single Beam Scanning Sonar System

Multi-Beam Sonar System

Side Scan Sonar System

Regional Analysis
The geopolitical scenario in the region has made it a hotspot for unprecedented skirmishes and armed standoffs, especially between the countries in the South China Sea. This has encouraged several countries to procure new naval assets while also promoting the capability upgrade of existing vessels. For instance, the PLAN is undergoing a huge naval fleet expansion, which is projected to make China surpass Russia as the largest navy in the world in terms of frigates and submarines by 2020. China is also emphasizing increasing its anti-submarine warfare (ASW) capabilities from coastal defense to blue-water operations. Other countries are also increasing their investments into ASW equipment, like sonar systems, to enhance their situational awareness in the sea. For instance, in 2017, Japan became the first nation to conduct large-scale experimental mining of a dead hydrothermal vent off the coast of Okinawa, inside Japan's national waters, by dispatching a torpedo-shaped underwater drone equipped with special sonar to map it. Such developments in terms of both vessel building and the upgrade of the existing fleet are expected to generate demand for sonar systems during the forecast period.

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Major Points Covered in Table of Contents:

- Overview of Sonar System Market
- Global Market Status and Forecast by Regions
- Global Market Status and Forecast by Types
- Global Market Status and Forecast by Downstream Industry
- Market Driving Factor Analysis
- Market Competition Status by Major Manufacturers
- Major Manufacturers Introduction and Market Data
- Upstream and Downstream Market Analysis
- Cost and Gross Margin Analysis
- Marketing Status Analysis
- Market Report Conclusion
- Research Methodology and Reference

Finally, the Sonar System Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principal locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Sonar System Industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation

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