Global Sonar Systems and Technology Market Research Report?Forecast till 2025
The Sonar System and technology market is estimated to witness an incredible market lift during the study period. Sonar is an abbreviation of Sound Navigation and Ranging that used explores and maps the ocean by sound waves travel farther in the water than do radar and light waves; it categorized as active and passive Sonar depending on the mode of operation. The Sonar has proven its usefulness in defense and some commercial applications such as diver detection, Search and rescue missions, Detecting explosive dangers underwater, offshore wind turbines, Pipeline inspections, Underwater Communications, mine detection, port security, and hydrography.
The values estimation of the Sonar System and technology market is USD 4,214.4 Million by 2025 at a CAGR of 6.88%. The prime market driving factors are increasing military expenditure and up-gradation of fishing vessels. Moreover, the expansion in international seaborne trade is estimated to inflame the advancement of the global market. North America is a leading market dominator followed by Europe.
The Global Sonar Systems and Technology Market is segregated by product type, mode of operation, solution, application, and region.
By product type, the market has been categorized as hull-mounted sonar, stern-mounted sonar, dipping sonar, and sonobuoy. The hull-mounted sonar segment is expected to lead the global market at a CAGR of 5.69% during the study period owing to underwater telephone and anti-submarine warfare capabilities which upgrades safety.
The mode of operation type of the market is classified as active, passive, and dual. Based on the solution segment, the market has been segregated into hardware and software types. By the application type, the global sonar and technology market has been segmented into defense and commercial. The defense segment has been sub-segmented anti-submarine warfare, port security, diver detection, mine detection, and countermeasure systems, search & rescue, and others, while the commercial segment has been categorized into fisheries, hydrography, and navigation.
The region-specific analysis, the Global Sonar Systems and Technology Market is spread across North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
In 2018, North America anticipated the prime contributor of the global sonar systems and technology market valued at USD 1,427.4 million and it is expected to exhibit a CAGR of 5.47% during the study period.
The existence of major manufacturers such as Raytheon Company, L3Harris Technologies, Inc., and Lockheed Martin Corporation in the region is fueling the market growth with the highest rate.
The prominent market players in the Global Sonar Systems and Technology Market are Raytheon Company (US), Lockheed Martin Corporation (US), Thales Group (France), L3Harris Technologies, Inc. (the US), Kongsberg Maritime (Norway), Aselsan A? (Turkey), Teledyne Technologies Incorporated (US), Ultra Electronics (UK), W?rtsil? (Finland), FURUNO Electric Co., Ltd (Japan), Sonardyne (UK), Atlas Elektronik Group (Germany), Navico (Norway), Japan Radio Co. (Japan), DSIT Solutions Ltd (Israel), and EdgeTech (US).
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