According to the latest report by IMARC Group, titled "Sonar Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global sonar systems market reached a value of US$ 4.7 Billion in 2021. Sound navigation and ranging (SONAR) systems refer to devices that generally comprise a transducer, display, receiver and transmitter. They utilize acoustic noise waves that help in exploring and mapping the ocean. They function by sending an impulse sound from the transmitter, upon which an echo is generated that returns to the transducer, usually amplified by the receiver and the data are reflected over the display. As a result, it is widely adopted for marine and defense applications to create nautical charts, detect and determine the direction and distance of submerged objects and locate underwater hazards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Sonar Systems Market Trends:
The global market is primarily driven by significant growth in the defense sector. Along with this, the rising incidences of border threats and geopolitical conflicts among various countries are providing a boost to the demand for sonar systems. Since sound waves travel farther than radar and light, there has been a considerable rise in the utilization of sonar systems for exploration and communication purposes across the globe. Moreover, the increasing utilization of sonar systems for research and development (R&D) activities conducted by key players for seabed mapping are creating a positive market outlook. Additionally, continual technological advancements, such as the introduction of synthetic aperture sonar systems that provide high-quality image resolution, are further strengthening the market. Other factors, including the rising expenditure to upgrade the overall defense infrastructure, continuous product innovations and the increasing demand for unmanned underwater vehicles (UUVs) for commercial oil and gas exploration activities, are also contributing to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.2 Billion by 2027, exhibiting a CAGR of 1.9% during 2022-2027.
- On the basis of the mode of operation, the market has been bifurcated into active, passive and active cum passive.
- Based on the product type, the market has been classified into hull mounted sonar, towed array sonar, sonobuoys, dipping sonar and driver detection sonar.
- On the basis of the installation, the market has been segmented into vessel mounted, airborne, towed, UUV, hand-held and pole mounted, and others.
- Based on the type, the market has been segregated into multi beam, side scan, single beam and synthetic aperture.
- On the basis of the application, the market has been categorized into military, hydrographic charting, offshore oil and gas, port and harbor management, coastal engineering and others. Presently, military accounts for the largest market share.
- Based on the material, the market has been classified into piezoelectric ceramics, piezoelectric single crystals, magnetostrictive materials and others.
- On the basis of the regional insights, the market has been divided into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America. Among these, Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, L3 Technologies, Teledyne, Sonardyne, Atlas Elektronik, Furuno, Navico and JRC.
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