SONAR System Market Share

North America industry is likely to hold largest revenue share by 2036, as the region is nvolved in massive number of exports and imports of SONAR systems worldwide. The Europe market is anticipated to grow at a significant rate during the forecast period on account of the shipbuilding industry, which is currently going through a slump across the region. The increasing demand for autonomous ships and cruise ships is anticipated to fuel the market's growth across the European market. Asia Pacific market growth is attributed to the rise in maritime trade and increasing oil and gas exploration. Technological advancements have resulted in the procurement of advanced SONAR systems for the naval fleet and are expected to propel the growth of the SONAR system market across the region.