Press release
Sonar Systems Market Report: Trends, Share, Size, Growth Opportunities, In-Depth Analysis Forecast To 2033
Sonar Systems Market Report
The sonar systems market size is expected to see strong growth in the next few years. It will grow to $5.8 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing number of solar power projects, increasing popularity of off-grid solar tracker for power generation, rising demand for energy, growing awareness about the environmental benefits of solar power, favorable government policies and initiatives.. Major trends in the forecast period include artificial intelligence (ai) and machine learning (ml), 3d sonar imaging and mapping, counter-submarine warfare (asw), sensor fusion and data integration, smart inverters..
Market Overview -
The sonar systems refer to systems based on the SONAR (Sound Navigation and Ranging) technology. Sonar is a technique in which sound waves are propagated at a certain frequency for mapping distances and objects, especially in marine navigation, since sound waves can travel a longer distance in the water than radar and light waves. Sound waves emitted or reflected by an object are detected by sonar apparatus and analyzed by software to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
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Terrorism Threat Drives Sonar Systems Market Growth
The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market. Terrorism is defined as violence in an asymmetrical conflict that is designed to induce terror and psychic fear. Sonar systems can be used to find and tackle terror plans such as bombing, underground bomb fixing, unknown submarines in oceans, and others. For instance, in March 2023, according to Global Terrorism Index (GTI) 2023, the number of deaths more than doubled, albeit from a low base from nine deaths in 2021 to 19 in 2022, with 11 of these occurring in the US during terrorist attacks. Therefore, the rising number of terrorist attacks is driving the market for sonar systems.
Competitive Landscape -
Major companies operating in the sonar systems market include Ultra Electronics Holdings plc, Thales Group, Navico Holding AS, L3Harris Technologies Inc., Atlas Elektronik GmbH, Kongsberg Gruppen ASA, Lockheed Martin Corporation, Teledyne Technologies Incorporated, Sonardyne International Ltd, Aselsan Elektronik Sanayi ve Ticaret A.S., Furuno Electric Co. Ltd., Japan Radio Co. Ltd., DSIT Solutions Ltd., Northrop Grumman Corporation, General Dynamics Mission Systems Inc., Raytheon Technologies Corporation, Nautel Limited, Mistral Solutions Pvt. Ltd., thyssenkrupp AG, Western Marine Electronics Inc., Koç Bilgi ve Savunma Teknolojileri A.S., SonarTech Underwater Systems LLC, Meteksan Defense Industry Inc., GeoSpectrum Technologies Inc., Koc Bilgi ve Savunma Teknolojileri AS
Advancement In Sonar Systems
Technological advancement in sonar systems is a key trend in the sonar systems market. Companies are increasingly innovating to produce technologically advanced sonar systems for the military and warfare. For instance, in 2021, Thales Group, a France-based multinational company for aerospace and defense security, received the contract to develop, test, and manufacture the SonoFlash air-droppable sonobuoy from the French Defence Procurement Agency (DGA) to strengthen its anti-submarine warfare systems in the French Naval force. This advanced technology provides a complex sonar system, which can be used in open-ocean environments. In addition, SonoFlash offers long endurance and is suitable for a wide array of deployment scenarios.
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Key Segments -
The sonar systems market covered in this report is segmented -
1) By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
2) By Installation: Fixed, Deployable
3) By Acoustic Frequency: Ultrasonic, Infrasonic
4) By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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