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Global Sonar Systems Market Size Expected to Reach USD 7.0 Billion By 2030: Polaris Market Research

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Global Sonar Systems Market Size Expected to Reach USD 7.0 Billion By 2030: Polaris Market Research

April 27
03:36 2022
Global Sonar Systems Market Size Expected to Reach USD 7.0 Billion By 2030: Polaris Market Research
According to the research report, the global sonar systems market size was valued at USD 7.0 billion in 2021 and is expected to reach USD USD 7.0 billion by 2030, growing at a CAGR of 1.9% during the forecast period.

According to the research report, the global sonar systems market size was valued at USD 7.0 billion in 2021 and is expected to reach USD USD 7.0 billion by 2030, growing at a CAGR of 1.9% during the forecast period.

What is Sonar Systems? How Big is Sonar Systems Market?

  • Overview

 

Sonar systems indicate a technique for determining and discovering the direction and distance of objects that are underwater by acoustic means. Sound waves discharged by or mirrored from the thing are discovered by sonar instruments and inspected for the information they possess. Sonar was essentially suggested as a way of learning icebergs. Attentiveness in sonar was intensified by the menace posed by submarine warfare in World War I.

A predominant step in the advancements of sonar systems was the invention of the acoustic transducer and the representation of systematic acoustic projectors. These inventions used piezoelectric crystals, magnetostrictive substances, or electrostrictive crystals. When administered to magnetic or electric fields, these substances transform into shape, thereby converting electric energy to acoustic energy. Preferably arranged in an oil-filled housing, beams of acoustic energy are produced over frequencies that are wide-ranging.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)

Highlights of the report

  • Qualitative and quantitative analysis of the market depending on segmentation, including both economic and non-economic factors
  • Supplying market value data for each segment and sub-segment
  • Refers to the region and part that is anticipated to observe the speediest growth and, at the same time, influence the market
  • Examination by geography underscores the intake of products and services in the region and indicates the components that are impacting the market within each region
  • Competitive landscape which assimilates the market ranking of prominent players together with new service or product launches, associations, expansion, and acquisition of the business in the bygone five years of companies profiled
  • Sizeable company profiles consisting of company insights, overviews, product benchmarking, and SWOT analysis for the dominant market players

 

Top Market Players in the Global Market Are:

  • Atlas Elektronik
  • FLIR Systems
  • Furuno Electric Co.
  • Japan Radio Company
  • Kongsberg Gruppen ASA
  • L3 Technologies
  • Lockheed Martin
  • Navico
  • Raytheon Company
  • Sonardyne
  • Teledyne Technologies Inc.
  • Thales Group
  • Ultra Electronics

 

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Sonar systems market: Growth leading factors

A sonobuoy is a developed system ejected from naval ships for acoustic research that is underwater. Sonobuoys are utilized as an up-to-date transducer and a radio transmitter to transmit and record underwater sound. Further, the special purpose buoys offer additional information about the environment like water temperature and wave height.

The deep neural framework is utilized in the sonar system for monitoring fish. Fish monitoring in aquaculture farms is expected for the development of fish resources. The deep neural network sonar comprises high accuracy imaging sonar and an underwater optical camera. The system warrants monitoring that is nighttime and assists in cultivating more efficient fish farming. Thus increasing demand for the system in aquaculture farms pushes the market’s growth rate.

The covid-19 pandemic has had a reasonably lesser influence on the market studied. The maritime trade was impacted by the pandemic in the commercial sector in 2020 and stretched over some months in 2021. Trade levels recuperated for the entire year of 2021, which is anticipated to drive the accession of cargo ships that were new.

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Sonar Systems Market: Report Scope

Report Attribute

Details

Market Size 2021 Value

USD 7.0 billion

Market Outlook for 2030

USD 7.0 billion

Expected CAGR Growth

1.9% from 2022 – 2030

Base year

2020

Forecast period

2022 – 2030

Segments covered

By Application, By Platform, By Ports, By Installation, By Region

Key Companies

Atlas Elektronik, FLIR Systems, Furuno Electric Co., Japan Radio Company, Kongsberg Gruppen ASA, L3 Technologies, Lockheed Martin, Navico, Raytheon Company, Sonardyne, Teledyne Technologies Inc., Thales Group, and Ultra Electronics.

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization Options

Customized purchase options are available to meet your research needs.

 

Sonar systems market: Key segmentation

  • Insight by application, platform, ports, installation, and region

 

By application, the anti-submarine warfare (ASW) segment contributed to the most significant revenue in the global market. It is an underwater combat branch that engages surface warship submarines to detect, trace and demolish enemy submarines. By platform, the commercial segment is anticipated to display the speediest growth over the forecast period. This growth is assigned to the growing demand for oil and gas survey applications for fish chirps sonar, hydrographic surveys, and enhancing overall ship remittance and operations that are retrofitting. The hull-mounted segment held the highest shares by ports due to forward-looking sonars in the defense vehicles.

By region, the North American sonar systems market dominated the area due to the growth in the building of naval ships in the US. In 2020, the US government suggested a shipbuilding plan in which 82 novel ships valued at up to USD 147 billion will be added in the forecast period. The Asia Pacific will display an exceptional development because of increased spending in the naval sector and domestic ship production growth in China and South Korea. They were growing the conveyance of commercial ships in Japan and combining automation to ship systems by several shipbuilding players in South Korea to push the market growth.

Browse the full “Sonar Systems Market Share, Size, Trends, Industry Analysis Report, By Application; By Platform (Commercial Vessels, Defense Vessels, Unmanned Underwater Vehicles (UUVs), Aircraft, Ports); By Ports; By Installation, By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/sonar-system-market

Important Questions Being Answered by The Market Report

  • What is the market size and growth?
  • What is the study period of this market?
  • Which region has the highest growth rate in the Sonar systems market?
  • Which region has the largest share in the Sonar systems market?
  • Who are the key players?
  • What are the factors pushing the market?

 

The market primarily depends on the application, platform, ports, installation, and region

Sonar systems market: By application

  • Anti-submarine Warfare
  • Port Security
  • Mine Detection & Countermeasure Systems
  • Search & Rescue
  • Navigation
  • Diver Detection
  • Seabed Terrain Investigation
  • Scientific
  • Others

 

Sonar systems market: By platform

  • Commercial Vessels
  • Defense Vessels
  •  Uncrewed Underwater Vehicles (UUVs)
  • Aircrafts
  • Ports

 

Sonar systems market:  By ports

  • Hull-mounted
  • Stern-mounted
  • Dipping
  • Sonobuoy

 

Sonar systems market:  By installations

  • Fixed
  • Deployable

 

About Us:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semiconductors, chemicals, automotive, and aerospace & defense, among different ventures, present globally.

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