With a projected valuation of USD 3.67 billion in 2022, the global Sonar System Market is anticipated to expand at a compound annual growth rate (CAGR) of 5.1%. A sonar system is a device that locates and detects underwater objects using sound waves. Sound Navigation and Ranging is what it stands for. It functions by sending out sound waves, then keeping an ear out for any echoes that come back from any submerged objects. A sonar system can identify the objects’ size, shape, composition, and distance by examining these echoes.
Nonetheless, it is anticipated that the high price of sonar systems and the difficulty of installing and using them will partially impede market expansion. Furthermore, strict regulations pertaining to emissions of underwater sound and their possible effects on marine life are anticipated to limit market expansion.
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The rising need for maritime navigation systems is another factor propelling the growth of the SONAR system market. The need for SONAR-based navigation devices has grown dramatically as recreational boating gains popularity. Boaters may navigate securely and successfully because to these devices’ real-time information on water depth, underwater obstacles, and other navigational dangers.
Market Competitive Outlook
Thales Group (France), ATLAS ELEKTRONIK GmbH (Germany), Raytheon Company (US), Lockheed Martin (US), L-3 Technologies Inc. (US) and Ultra Electronics (UK). Major players in the hydrographic sonar market include Kongsberg Gruppen ASA (Norway), Teledyne Technologies Inc. (US), and Sonardyne (UK). Navigation and fisheries sonars are provided by Furuno Electric Co., Ltd. (Japan), Japan Radio Company (Japan), Navico (Norway), and FLIR Systems (US).
Market Segmental Analysis
By Installation Type
Fixed
Deployable
By Application
Anti-submarine Warfare,
Port Security
Mine Detection
Countermeasure Systems
Search & Rescue
Navigation
Diver Detection
Seabed Terrain Investigation
Scientific
By Product Type
Hull-mounted Sonar
Stern-mounted Sonar
Dipping Sonar
Sonobuoy
Country Scope
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
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