According to the latest market research report by IMARC Group, titled “Sonar System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global sonar system market reached a value of US$ 4.2 Billion in 2018. Sonar stands for Sound Navigation and Ranging which is a remote sensing technique that uses sound waves to detect, locate and identify objects in the water. A sonar system consists of front-end signal conditioning units, signal processors, underwater transducers, and displays. There are two major types of these systems, namely, active systems which emit acoustic signal or pulse into the water and passive systems which listen to the sound waves coming towards them from marine objects and animals. These systems are mostly used for underwater navigation and surveillance. They also help in determining water depth and characteristics of the ocean bed, locating various objects in it.
Market Trends:
Sonar systems remain the primary surveillance technique used in naval ships and submarines for facilitating underwater communications as well as detecting and tracking enemy vessels and torpedoes. Moreover, manufacturers are engaged in R&D activities to develop advanced sonar systems. For instance, synthetic aperture sonar (SAS) has been successfully tested outside the sea with signal processing by the Norwegian Defense Research Establishment (FFI). In addition, high-resolution interferometric synthetic aperture sonar (HISAS) has been developed with the capability of producing ultra-high-resolution acoustic images as well as co-registered bathymetry with a frequency range of 70-100kHz. According to IMARC Group, the market value is projected to reach US$ 5.3 Billion by 2024, exhibiting a CAGR of around 4% over the forecast period (2019-2024).
Market Segmentation:
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