Sonar System Market Report, Trends and Forecast 2021-2026

Press Release:

Global Sonar System Market to Reach US$ 5.3 Billion by 2024, Stimulated by Development of Advanced Systems

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Sonar Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global sonar systems market reached a value of US$ 3.74 Billion in 2020. Sound navigation and ranging (SONAR) refers to a technique which employs sound waves for navigating, communicating, and detecting lost or hazardous objects. The sound waves are reflected from the objects and are detected by sonar systems which analyse the information contained in them. Sonar systems are generally divided into passive and active sonar. Active sonar systems emit acoustic waves into the water and listen to their echoes underwater, whereas, passive sonars do not generate their own signals and listen to the sounds produced by other vessels. Nowadays, sonar systems are widely used for fishing, hydrography, oil exploration, marine observation and nautical charting activities.

Global Sonar Systems Market Drivers:

On account of the rising number of terrorist attacks, governments across the globe are increasing their defence budgets for building warships and deploying nuclear submarines as a part of their military strategies. Moreover, the growing applications of sonar systems in preventive defence processes and anti-submarine warfare (ASW) have boosted their demand across the globe. In line with this, advanced systems are being developed, such as synthetic aperture sonar (SAS) which produces higher resolution images. In addition, consistent enhancements in the arena of autonomous underwater vehicles and rising demand for unmanned underwater vehicles (UUVs) for commercial exploration of oil and gas are also anticipated to bolster the growth of the market. Looking forward, IMARC Group expects the global sonar systems market to exhibit moderate growth during the next five years.

Market Summary:

Based on the mode of operation, the market has been segmented into active, passive and active cum passive.
Based on the product type, the market has been segmented into hull mounted sonar, towed array sonar, sonobuoys, dipping sonar and driver detection sonar.
Based on 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 segmented into multi beam, side scan, single beam and synthetic aperture.
Based on the application, the market has been segmented into military, hydrographic charting, offshore oil and gas, port and harbour management, coastal engineering and others. Hydrographic charting currently represents the biggest application.
Based on the material, the market has been segmented into piezoelectric ceramics, piezoelectric single crystals, magnetostrictive materials and others.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the biggest market, accounting for the majority of the global sales.
The competitive landscape of the market has also been examined with some of the key players being Raytheon, Lockheed Martin, Thales, Kongsberg Gruppen, Ultra Electronics, L3 Technologies, Teledyne, Sonardyne, Atlas Elektronik, Furuno, Navico and JRC.

Key Questions Answered in This Report:

How has the global sonar systems market performed so far and how will it perform in the coming years?
What are the key regional markets in the global sonar systems industry?
What has been the impact of COVID-19 on the global sonar systems industry?
What is the breakup of the global sonar systems market on the basis of mode of operation?
What is the breakup of the global sonar systems market on the basis of product type?
What is the breakup of the global sonar systems market on the basis of installation?
What is the breakup of the global sonar systems market on the basis of type?
What is the breakup of the global sonar systems market on the basis of application?
What is the breakup of the global sonar systems market on the basis of material?
What are the various stages in the value chain of the global sonar systems market?
What are the key driving factors and challenges in the global sonar systems market?
What is the structure of the global sonar systems market and who are the key players?
What is the degree of competition in the global sonar systems market?