Global SONAR System Market - Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio
June 27 2017 - 4:43PM
Business Wire
The global SONAR system market is projected to grow to
USD 3.59 billion by 2021, at a CAGR of more than 8% over the
forecast period, according to Technavio’s latest report.
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Technavio has published a new report on
the global SONAR system market from 2017-2021. (Graphic: Business
Wire)
In this report, Technavio covers the market outlook and
growth prospects of the global SONAR system market for
2017-2021. Based on the application, the market is divided into
defense; and civil and commercial segments.
Sound navigation and ranging, or SONAR, is a sensing
technique of employing sound propagation for navigating, detecting,
and communicating with underwater objects. Owing to the increasing
investment on maritime warfare, the global naval combat systems
market, including SONAR systems, is anticipated to witness stable
growth rates during the forecast period.
Technavio’s research study segments the global SONAR system
market into the following regions:
SONAR market in the Americas
“The US has been the single largest user
of both surface and underwater naval vessels since the last five
decades. The evolution of high channel count fiber-optic towed
arrays can be cited as one such instance where Northrop Grumman and
the US Navy had collaborated for over 15 years,” says Moutushi
Saha, a lead analyst at Technavio for defense research.
Lockheed Martin has also signed an agreement with the US Navy
for the development and supply of a comprehensive array of sensors
for submarines. Likewise, other key countries in the region, like
Brazil, Canada, Mexico, and Argentina, are also spending
substantially for the enhancement of their respective naval
capabilities. Such initiatives are anticipated to drive the growth
of the SONAR system market in the Americas during the forecast
period.
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SONAR market in APAC
APAC is anticipated to register the highest growth in terms of
demand for SONAR systems and other associated equipment during the
forecast period. This demand is primarily driven by the enhancement
of undersea capabilities in countries like China, India, Japan,
South Korea, and Australia.
The volatile nature of security conditions in APAC has drawn
substantial investments in underwater warfare technologies. Several
undersea and surface vessels programs have been developed in the
last decade in countries like India and China. Malaysia also has
collaborations in place for the upgrade and maintenance of two of
its Scorpene-class submarines.
SONAR market in EMEA
The markets for sonar and associated components in EMEA have
transformed over the years. Soon after the end of Cold War,
littoral warfare emerged as a key area of interest among several
European countries. Also, Europe is undertaking replacement and
modernization-related activities for naval assets, which boosts the
adoption of advanced sonar systems in the region.
“A sizable portion of demand for SONAR
systems is anticipated to be reflected from the Middle Easter and
Africa, owing to the region's growing participation in offshore oil
and gas exploration activities. Also, countries like the UK,
France, and Russia maintain vast coastlines, which require adequate
investments in coastal engineering activities,” says
Moutushi.
The top vendors in the global SONAR system market highlighted in
the report are:
- ATLAS ELEKTRONIK
- Kongsberg Maritime
- Lockheed Martin
- Raytheon
- Thales
- Ultra Electronics
Browse Related Reports:
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(SAR) Market 2017-2021
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Systems Market 2017-2021
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