SONAR System Market Trends

  • Report ID: 2794
  • Published Date: Oct 18, 2024
  • Report Format: PDF, PPT

SONAR System Market Trends

Growth Indicators

  • Growing Defense Operation Across the World: The demand for SONAR systems is increasing on account of growing advancements in defense operations across the world. Nowadays, most of the submarines are designed based on the Ohio-Class, reducing their vulnerability to passive SONARs. Furthermore, new anti-submarine technologies are increasing, which will reduce their reliance on noise generated by a target submarine.
  • Developments in Offshore Energy Sector and Fisheries: The global offshore energy sector is growing at a robust pace and is anticipated to rise even more over the forecast period. The industry aims to provide an affordable and dependable source of energy across the world. Also, the quantity of fish produced at the global level is projected to grow as it is predominantly consumed as food worldwide. SONAR systems are one of the acoustic technologies that help researchers study the habitat of fishes.

Challenges

  • Impact of SONAR on Marine Life: The increase in underwater surveillance systems such as submarines, SONARs, seismic air gun blasts, and others which are used for offshore energy exploration and underwater warfare is disrupting the life of marine creatures. These underwater warfare systems are negatively impacting marine life, and the whole aquatic life is attributed to vanish in the future.

SONAR System Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

7.6%

Base Year Market Size (2023)

USD 2.34 billion

Forecast Year Market Size (2036)

USD 6.06 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Browse Key Market Insights with Data Illustration:


Author Credits:  Dhruv Bhatia


  • Report ID: 2794
  • Published Date: Oct 18, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of SONAR system is evaluated at USD 2.48 billion.

SONAR System Market size was valued at USD 2.34 billion in 2023 and is set to exceed USD 6.06 billion by 2036, expanding at over 7.6% CAGR during the forecast period i.e., between 2024-2036.

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 major players in the market are Ultra (Ultra Electronics), Thales Group, Raytheon Technologies Corporation, Neptune Sonar Ltd., Kongsberg Gruppen ASA, L3Harris Technologies, Inc., Mind Technology, Inc., General Dynamics Mission Systems, Inc., Teledyne Technologies Incorporated, Nisshinbo Holdings Inc., Lockheed Martin Corporation, SONARDYNE, and others.
Inquiry Before Buying Request Free Sample
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample