The global sonar systems market size is expected to grow from $3.37 billion in 2021 to $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 4.52%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global sonar system market share is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%.
What is the Global Sonar Systems Market?
The sonar systems market consists of sales of sonar systems by entities (organizations, sole traders, and partnerships) that refer to the systems based on the SONAR (Sound Navigation and Ranging) technology. Sonar is a technique in which sound waves are propagated at a certain frequency for mapping distance and objects especially in marine navigation since sound waves can travel a longer distance in the water than radar and light waves. Sound waves emitted or reflected by an object are detected by sonar apparatus and analyze information to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
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What drives the Global Sonar Systems Market?
The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market. Terrorism is defined as the violence in an asymmetrical conflict that is designed to induce terror and psychic fear. Sonar systems can be used to find and tackle terror plans such as bombing, underground bomb fixing, unknown submarines in oceans, and others. Therefore, the rising number of terrorist attacks is driving the sonar systems market.
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Global Sonar Systems Market Segments
The global sonar systems market is segmented:
By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
By Installation: Fixed, Deployable
By Acoustic Frequency: Ultrasonic, Infrasonic
By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
By Geography: The regions covered in the air cargo services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Sonar Systems Global Market Report 2022provides market size and growth forecasts for the global sonar systems market, global sonar systems market share, sonar systems market segments and geographies, sonar systems market competitive landscape including leading competitors’ revenues, profiles and market shares. The sonar systems market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Sonar Systems Industry Playersinclude Ultra Electronics, Thales Group, NAVICO, L3Harris Technologies Inc., ATLAS ELEKTRONIK. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
