According to the new market research report “Sonar System Market Size by Product Type, Installation (Vessel Mount, Towed, Hand-Held & Pole Mounted, Airborne, UUV), Mode of Operation, Operating Frequency (High, Medium, Low), Application (Defense, Commercial), and Region – Global Forecast to 2022″,
The sonar system market size is projected to grow from USD 3.49 Billion in 2016 to USD 3.72 Billion by 2022, at a CAGR of 4.33% from 2017 to 2022. The growth of this market can be attributed to the rise in naval shipbuilding, which leads to increase in demand for sonar systems. In addition, the rise in demand for sonar systems for various UUVs is driving the sonar system market.
Browse 104 Market Data Tables and 38 Figures spread through 155 Pages and in-depth TOC on “Sonar System Market Size – Global Forecast to 2022”
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The defense application segment is estimated to account for the largest share of the sonar system market size in 2017, and this segment is projected to grow at a high CAGR during the forecast period.
Based on application, the defense segment is estimated to account for the largest share of the sonar system market size in 2017. This segment is projected to grow at a high CAGR during the forecast period. In defense, sonar systems are used mainly in the naval ships. North America is leading the defense application segment due to the increase in naval shipbuilding orders.
Based on installation, the Underwater Unmanned Vehicles (UUV) segment is projected to grow at the highest CAGR during the forecast period.
Based on installation, the UUV segment is expected to grow at the highest CAGR during the forecast period. The rise in the usage of UUVs in applications such as hydrographic survey, seabed mapping, military surveillance, and mine hunting has led to the increase in demand for sonar systems in UUVs.
• Attractive Opportunities in the Sonar System Market
• Sonar System Market size, growth, By Product Type
• Sonar System Market: Market Share and CAGR of Top 10 Countries
• Seabed Imaging and Information Sonar Segment, By Sub-Type
• North America Sonar System Market
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Objectives of the Study:
• Sonar system market report analyzes the sonar system market based on mode of operation (Commercial active, Military dual mode and military passive), product type (general-purpose hull mounted sonar, seabed imaging and information sonars, stern mounted sonar, dipping sonar and others), installation (vessel mounted, towed, hand-held and pole mounted, airborne, UUV, others), frequency (high, medium, low), application (defense and commercial) and region (North America, Europe, Asia Pacific and Rest of the World).
• Sonar system report provides in-depth market intelligence regarding the sonar system market and major factors, including drivers, restraints, opportunities, and challenges that may influence the growth of the market. It also provides an analysis of micromarkets with respect to individual growth trends, growth prospects, and their contribution to the overall sonar system market.
• Sonar system report also covers competitive developments such as contracts, new product launches and developments, and research & development activities in the sonar system market, in addition to business and corporate strategies adopted by key market players.
The fisheries application segment of the commercial sonar system market is projected to grow at the highest CAGR during the forecast period.
Sonar systems, in recent years, have found increased usage in fish finding. These systems provide details about fish schools in the ocean. The fisheries application segment of the commercial sonar system market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific sonar system market is projected to witness the highest growth during the forecast period
Increase in defense spending for naval shipbuilding and hydrographic oil & gas exploration in the Asia Pacific region is projected to fuel the demand for sonar systems. The Asia Pacific sonar system market is projected to grow at the highest CAGR from 2017 to 2022. Countries in this region include China, South Korea, Japan, Australia, and India. Substantial investments by China in naval and commercial shipbuilding is one of the factors driving the sonar system market in the Asia Pacific region.
Major players in the sonar system market are Raytheon Company (US), Thales Group (France), ATLAS ELECTRONIK GmbH (Germany), Kongsberg Gruppen ASA (Norway), and Ultra Electronics Holdings PLC (UK), among others.