SONAR System Market Trends

North America SONAR system market is expected to grow at a robust pace during the forecast period. It is anticipated that US has the largest market for underwater surveillance systems. It is involved in a massive number of exports and imports of SONAR systems worldwide, which has resulted in the spur of the SONAR system market growth across the region. The Europe SONAR system 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 SONAR system market's growth across the European market. Asia Pacific SONAR system 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.

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).