Global SONAR System Market to Touch USD 4,177.53 Million by 2028 Owing to Rise in Technological Advancements in Defense Operations Worldwide

New York, April 30, 2021 (GLOBE NEWSWIRE) — With the outbreak of Coronavirus pandemic worldwide resulting in factory shutdowns, many supply chain problems surfaced on a massive level, further creating mayhem among manufacturers and retailers. COVID-19 has also affected the revenue of various key players in the market owing to which, it is estimated that there will be very few new entrants in the market. Despite not being prepared for this hit and the prevailing complexities related to supply chains, companies are embracing new technologies to ease the persisting burden of supply of raw material required for the manufacturing of SONAR systems. Moreover, during the crisis, some of the companies collaborated for new product developments in order to gain upper hand in the SONAR system market.

Research Nester published a detailed report on ‘Global SONAR System Market’ which is segmented by type, acoustic frequency, installation, component, and by application. The research study offers distinct analytical insights that are adopted by prominent market players to perform better and gain a leading position in this competitive landscape. Our research analysts provide our readers a clear assessment on ongoing and forthcoming trends combined with the challenges associated with the growth of the market in the upcoming years.

Over the past years, there has been huge demand for SONAR systems in defense sector across the world in an attempt to improve the range and accuracy of unmanned surface vehicles. On account of the increase in undersea competitions, military forces are significantly rethinking their approach in conducting underwater warfare. Recently, underwater surveillance has been employed with advanced unmanned solutions. The involvement of unmanned vehicles with a surveillance system helps replace low-level human activities, which allows the human operator to gain high-value information for security related course of action. In 2019, the global SONAR system market accounted for USD 2,960.60 Million and is further estimated to grow by a CAGR of 3.90% over the forecast period, i.e., 2020-2028. In 2028, the global market is anticipated to grow up to USD 4,177.53 million. The notable growth of the market can be attributed to numerous factors such as growing developments in digital signal processing to boost the underwater SONAR signal processing and communication, enhancements for strengthening the anti-submarine warfare capabilities, and growing demand for sonobuoys and sonobuoy processing systems for surveillance, allowing short and long range detection of submarines or surface ships among other unfavourable targets. However, the adverse effects of SONAR technology on marine ecosystem are estimated to act as barriers to the growth of the market as the seismic noise or use of this technology for underwater warfare and energy exploration negatively impacts the marine life and often results in injury or death of most marine animals.

Get a sample copy of the report@ https://www.researchnester.com/sample-request-2794

Geographically, the global SONAR system market is segmented into 5 major regions comprising North America, Latin America, Europe, Asia Pacific and Middle East & Africa, out of which, the North America SONAR system market is estimated to witness highest growth during the forecast period, where the United States is estimated to have the largest market for underwater surveillance systems as it is significantly involved in imports and exports of SONAR systems globally. Moreover, huge military expenditure and investment in defense is contributing to the growth of the market in the region. By growing at the highest CAGR of around 4%, the U.S. SONAR system market is estimated to witness notable growth throughout the forecast period. The growth in N.A. is closely trailed by the market in Asia Pacific which accounted for USD 826.25 Million in 2019. Moreover, the market in Europe is anticipated to grow at a robust pace in upcoming years owing to increasing demand for autonomous ships and cruise ships across the region by a CAGR of 5.18% during the forecast period.

The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Get a Sample PDF of SONAR System Market Report 2020

Based on acoustic frequency, the global SONAR system market is bifurcated into infrasonic SONAR and ultrasonic SONAR, out of which, the infrasonic SONAR segment accounted for a market value of USD 1131.99 million in 2020, whereas, the ultrasonic SONAR system segment held the leading share in the same year. The ultrasonic SONAR segment is projected to witness remarkable growth throughout the forecast period as these waves can pass through water and cover long distance owing to their high frequency as compared to infrasonic waves that cannot pass through water to such extended distance.

The global SONAR system market is also segmented on the basis of type, installation, component, and application.

Global SONAR System Market, Segmentation by Type

• Active SONAR System
• Passive SONAR System
• Dual SONAR System

Global SONAR System Market, Segmentation by Installation

• Omni Directional SONAR
• Forward Looking SONAR
• Others

• Airborne SONAR
• Dipping SONAR
• Others

Global SONAR System Market, Segmentation by Component

• Magnetostriction & Crystal
• Laminated

• Beamforming Processor
• Transducer
• Synchronizers
• Cables

• Light Weight Tether Cable
• Optic Hybrid Cable
• Double Armoured Low & High Voltage Cable

• Special Cable
• Multi-Purpose Cable
• Others

Global SONAR System Market, Segmentation by Application

• Anti-Submarine Warfare
• Diver Detection
• Mine Detection
• Search & Rescue Operations
• Others

• Fisheries
• Pipeline Detection
• Navigation
• Others

• Hydrography
• Object Detection
• Others

Do You Have Any Query Or Specific Requirement? Ask to Our Expert

Some of the major industry leaders mentioned in our report that are associated with the global SONAR system market are Ultra, Thales Group, Raytheon Technologies Company, Neptune Sonar Ltd., Kongsberg, L3Harris Technologies, Inc., Mind Technology, Inc., General Dynamics Mission Systems, Inc., Teledyne Technologies Incorporated, Nisshinbo Holdings Inc., Lockheed Martin Corporation, SONARDYNE, and others.

Explore Our Recent Related Reports:

Towed Array Sonar Market Segmentation By Type (Active, Passive and Dual Towed Array Sonar); By Acoustic Frequency (Infrasonic and Ultrasonic Sonar); By Component (Hydrophone, Cables and Others); By End-Use Industry (Marine, Oil & Gas, and Other Industries) – Global Demand Analysis & Opportunity Outlook 2019-2028
Helicopter Avionics Market Segmentation By Engine Type (Single Engine and Twin Engine); By System Type (Communication System, Navigation & Surveillance System, Flight Management System, Health Monitoring System and Hardware & Emergency System); By Helicopter Type (Commercial, Military and Business); By End Users (Original Equipment Manufacturers and Aftermarket) – Global Demand Analysis & Opportunity Outlook 2028
Missiles Market Segmentation By Product Type (Cruise Missile and Ballistic Missile); By Launch Mode (Surface to Surface, Surface to Air, Air to Surface, Air to Air and Others); By Range (Short Range, Medium Range, Intermediate Range and Long Range); By Propulsion Type (Solid, Liquid, Hybrid and Others); By End Users (Original Equipment Manufacturers, Military, Component Suppliers and Others) – Global Demand Analysis & Opportunity Outlook 2028
Aircraft Turbofan Engine Market Segmentation By Aircraft Type (Narrow Body Aircraft and Wide Body Aircraft); By Application Type (Military Aviation, Commercial Aviation and General Aviation); By Engine Type (PW4000, GEnx, Trent 1000, F414, GP7000 and Others); By End Users (Aircraft Engine Manufacturers, Technology Support Providers, Research Bodies and Others) – Global Demand Analysis & Opportunity Outlook 2028
Aircraft Mounts Market Segmentation By Aircraft Type (Commercial, General Aviation, and Military); By Mount Type (Interior Mounts, and Exterior Mounts); By Material (Nickel-Based Alloys, Aluminum Alloys, Steel Alloys, Rubber, Polyamide, and Others); By Application (Vibration/Shock Isolation, Suspension, and Engine Mount); and By End-User {Original Equipment Manufacturer (OEM), and Replacement} – Global Demand Analysis & Opportunity Outlook 2028

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.

Contact for more Info:
AJ Daniel
Email: info@researchnester.com
U.S. Phone: +1 646 586 9123
U.K. Phone: +44 203 608 5919

For More Update Follow:- LinkedIn | Twitter | Facebook | Xing