The report, now available on ASDReports, recognizes the following companies as the key players in the Global SONAR System Market: ATLAS ELEKTRONIK, Kraken Sonar, Kongsberg Maritime, Raytheon, Thales and Teledyne Reson.
Other Prominent Vendors in the market are: Harris, Northrop Grumman, R2Sonic, Sound Metrics, Neptune SONAR, Garmin, Furuno Electronic, Johnson Outdoors, Navico, and FLIR Systems.
Commenting on the report, an analyst said: Vendors in the market are adopting mergers and acquisitions as well as partnerships to stay competitive in the market. The acquisitions have helped companies to expand their geographical presence and leverage the technical expertise of acquired companies to develop innovative products.
According to the report, focus on improving safety of marine transportation is one of the major drives in the market. There has been a rise in offshoring and drilling activities across the globe. The rise in international trade activities has necessitated improvement in safety standards for navigation. To achieve this, a number of nautical charting activities and surveys are being conducted. The ships are provided with SONAR navigational charts to record the real-time status of ships.
Further, the report states that SONAR systems have an adverse effect on marine life, as it can lead to the injury or even death of species that live underwater.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.