What Factors Propelled The Growth Of The Sonar Systems Market In The Past?
The sonar systems market has seen considerable growth due to a variety of factors.
• Over the past few years, growth has been robust in the sonar systems market size. Projections forecast an increase from $4.24 billion in 2024 to $4.61 billion in 2025, presenting a compound annual growth rate (CAGR) of 8.7%.
The past growth in this market can be attributed to factors including naval defense investments, exploring underwater resources, autonomous underwater vehicles (auvs), the commercial fishing business, and environmental surveillance.
What Is The Projected Growth And Market Size For The Sonar Systems Sector?
The sonar systems market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for a solid expansion in the sonar systems market in the forthcoming years, with expected growth reaching $5.99 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.8%.
This growth in the forecast period is attributed to several factors like the rise in solar power projects, the growing appeal of off-grid solar trackers for power production, increasing energy demand, heightened awareness of the environmental advantages of solar power, along with supportive government policies and initiatives. Notable trends during this forecast period include the advancements in artificial intelligence (AI) and machine learning (ML), 3D sonar imaging and mapping, counter-submarine warfare (ASW), sensor fusion and data integration, and also smart inverters.
Which Factors Are Boosting Growth In The Sonar Systems Market?
The increase in terrorist activities is significantly fueling the expansion of the sonar systems market. Terrorism refers to acts of violence in an unequal conflict, designed to incite fear and psychological terror. Sonar systems can be employed to detect and combat terror strategies like bombings, planting of underground explosives, unidentified submarines in seas, among others. For example, as per the Global Terrorism Index (GTI) 2023, there was a considerable rise in the number of deaths, over double from nine fatalities in 2021 to 19 in 2022, with 11 instances taking place in the US during terrorist assaults. Thus, the escalating number of terrorist activities propels the growth of the sonar systems market.
What Key Areas Define The Segmentation Of The Global Sonar Systems Market?
The sonar systems market covered in this report is segmented –
1) By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
2) By Installation: Fixed, Deployable
3) By Acoustic Frequency: Ultrasonic, Infrasonic
4) By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
Subsegments:
1) By Hull-Mounted Sonar: Active Hull-Mounted Sonar, Passive Hull-Mounted Sonar, Multibeam Hull-Mounted Sonar
2) By Stern-Mounted Sonar: Active Stern-Mounted Sonar, Passive Stern-Mounted Sonar, Side-Scanning Stern-Mounted Sonar
3) By Dipping Sonar: Helicopter Dipping Sonar, Shipborne Dipping Sonar
4) By Sonobuoy: Active Sonobuoys, Passive Sonobuoys, Directional Sonobuoys
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How Are Emerging Trends Reshaping The Dynamics Of The Sonar Systems Market?
A key trend in the sonar systems market is the technological evolution of sonar systems. Corporations are steadily pioneering to produce high-tech sonar systems primarily for military and warfare applications. For instance, in 2021, a contract was granted to Thales Group, a French multinational corporation specializing in aerospace and defense security, to design, evaluate, and manufacture the Sono Flash air-droppable sonobuoy. This was done by the French Defense Procurement Agency (DGA) aiming to enhance its anti-submarine warfare systems in the French Naval force. This sophisticated technology offers a complex sonar system, adaptable to open-ocean environments. Moreover, Sono Flash boasts prolonged endurance and is compatible with a multitude of deployment scenarios.
Who Are the Key Players in the Sonar Systems Market?
Major companies operating in the sonar systems market include:
• Ultra Electronics Holdings plc
• Thales Group
• Navico Holding AS
• L3Harris Technologies Inc.
• Atlas Elektronik GmbH
• Kongsberg Gruppen ASA
• Lockheed Martin Corporation
• Teledyne Technologies Incorporated
• Sonardyne International Ltd
• Aselsan Elektronik Sanayi ve Ticaret A.S.
• Furuno Electric Co. Ltd.
• Japan Radio Co. Ltd.
• DSIT Solutions Ltd.
• Northrop Grumman Corporation
• General Dynamics Mission Systems Inc.
• Raytheon Technologies Corporation
• Nautel Limited
• Mistral Solutions Pvt. Ltd.
• thyssenkrupp AG
• Western Marine Electronics Inc.
• Koç Bilgi ve Savunma Teknolojileri A.S.
• SonarTech Underwater Systems LLC
• Meteksan Defense Industry Inc.
• GeoSpectrum Technologies Inc.
• Koc Bilgi ve Savunma Teknolojileri AS
What Is The Most Dominant Region In The Sonar Systems Market?
North America was the largest region in the sonar systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sonar systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
