Sonar System Market Global Industry Size, Share, Trends, Opportunity, And Forecast, 2018-2030F.

(MENAFN- GlobeNewsWire - Nasdaq) New York, May 26, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Sonar System market – Global industry Size, Share, Trends, Opportunity, and Forecast, 2018-2030F." -
The sonar system market refers to the market for various types of sonar Systems that are used for underwater detection and imaging.Sonar Systems use sound waves to detect objects underwater, and they have a wide range of applications in both military and civilian settings.
In this article, we will provide an overview of the global sonar System market, including the types of sonar Systems, the major players in the market, and the factors that are driving the market growth.
Sonar System Market is growing owing to the increase in maritime trade activities, mining, oil and gas exploration, and fisheries.Countries across the globe are expected to expand their capabilities and purchase cutting-edge sonar Systems for their naval fleets because of technological improvements, which is expected to accelerate the market's expansion during the forecast period.
The market for sonar Systems is expanding owing to the purchase of new ships and submarines as well as upgrading initiatives for current navy vessels.
The technological advancement in the industry is leading countries to expand and upgrade their existing System, and many nations have water bodies surrounding them, which they also share with their neighbors.This frequently led to a rise in tensions between nations, necessitating the use of naval ships, submarines, and patrol boats to safeguard national borders.
For instance, by 2027, the Indian Navy hopes to have 170 ships in its current fleet. Similarly, many other countries are also planning to increase their fleet of warships in the coming years, so all these factors will generate new opportunities for the Global Sonar System market during the forecast period and are expected to register an impressive CAGR during the forecast period.
Submerged drones are utilized for applications, for example, transport frame assessment, wreck examination, sea floor planning, hydro warm vent discovery, submerged investigation, maritime exploration, and mining, among others.Using synthetic aperture sonar, UUVs combine acoustic signals to produce an image of the target with a high along-track resolution.
Additionally, due to their capabilities in minesweeping, intelligence gathering, surveillance, reconnaissance, and submarine combat, UUVs play a crucial role in naval warfare.For instance, Boeing received a 43,000,000 USD contract from the US Navy in 2019 to develop the Orca XLUUV (extra-large unmanned underwater vehicle).
Orca is a long-range autonomous, reconfigurable UUV that can deliver payloads.To test, construct, and deliver UUVs of the Orca class, Boeing has collaborated with Huntington Ingalls Industries, the largest military shipbuilding company in the United States, with its headquarters in Virginia.
The market for sonar systems is anticipated to expand as a result of such initiatives and investments in UUV development.
Technical progress in sonar Systems is a prominent trend in the sonar System market.Businesses are increasingly developing to build highly superior sonar devices for the military and combat.
For example, in 2021, Thales Group, a France-based multinational aerospace and defense security company, received a contract from the French Defense Procurement Agency (DGA) to develop, test, and manufacture the Sono Flash air-droppable sonobuoy to strengthen the French Naval force's anti-submarine warfare System.This innovative technology provides a complicated sonar system that may be employed in open-ocean situations.
Sono Flash also has a long endurance and is ideal for a wide range of deployment settings.
The COVID-19 outbreak had a significant negative influence on numerous industries.Lockdowns that were implemented across several nations to limit the spread forced most industries to shut down their production facilities for an extended period of time, and this has overall led countries to cut their military and other naval expenses, and future expansion plans were also hampered by the economic uncertainty.
So, the pandemic has led manufacturing industries to stop their operations, and there has been a sharp decline in naval activities and exercises as well.
Rise in the Armed Forces Fleet and 3D Printing Technology.
As sonar systems are largely employed as navigational aids to track and identify hostile ships at sea and to avoid undersea hazards, this growing fleet of naval vessels is promoting further development to increase military strength and reach.Countries such as the United States, the United Kingdom, China, India, and Japan have all seen significant development in their naval fleets in recent years.
Countries like India are focusing on building a navy of 200 vessels and 500 aircraft by 2050. Similarly, the United States and other Western countries are expected to increase their naval fleet because of ongoing tensions due to the Russia-Ukraine war, and contracts and procurement are expected to drive the market expansion for the sonar system market globally, and the use of sonobuoy for tactical defense operations is expected to drive the global sonar system market.
The rising use of 3D printing technology by major businesses to develop a 3D printed SONAR system is a market trend.The manufacturing approach results in a system that is both light and affordable.
The 3D system is a cutting-edge acoustic imaging device. Its principal duty is to give high-resolution photographs of the seabed across a large region.
Rising Demand for Sonar Systems in Fishing Activities
The Sonar system market is growing globally because of the rising demand for fishing activities.For resource management purposes, such as determining the effectiveness of fish passage structures, evaluating restoration efforts, utilizing habitat, observing migration patterns, assessing potential effects, and monitoring population status, fisheries biologists use imaging techniques to classify various fish.
It has been demonstrated that hydro-acoustic methods are useful for assessing fish populations in freshwater and marine habitats.During the forecast period, countries that are dependent on basic fish finders are anticipated to drive demand for improved sonar devices.
And overall, all this will lead to the growth of the sonar system market globally in the forecast years.
Effect on Maritime Environment
The rising maritime environment concerns are expected to restrict the penetration of the sonar system market in maritime activities.Over the past ten years, there has been an increase in concern regarding the sonar's potential impact on marine life.
As evidence of issues caused by seismic surveys, dredging, ship engines, military sonar, and oil drilling increases, concern on a global scale is also increasing, and the advancements in technology are leading to the rise in human reach.To attain a thriving marine ecosystem in the future, numerous governmental bodies from all around the world have passed different legislation.
For instance, the International Maritime Organization issued guidance for reducing ship noise. Manufacturers are also facing challenges in developing sonar systems, and all this is restraining the growth of the sonar system market globally.
Market Segmentation
The Global Sonar System Market is segmented on the basis of product type, fabric material, installation, platform, application, and region.Based on product type, the market is segmented into hull-mounted sonar, stern-mounted sonar, dipping sonar, and sonobuoy.
Based on the installation, the market is further bifurcated into fixed and deployable.Based on application, the market is divided into anti-submarine warfare, port security, mine detection & countermeasure System, search & rescue, navigation, diver detection, and others.
On the basis of region, the market is divided into Asia-Pacific, Europe, North America, and Latin America.
Company Profiles
Sonardyne International Ltd, Aselsan AS, Ultra Electronics Holdings, Northrop Grumman Corporation, ThyssenKrupp AG, Western Marine Electronics Inc., Lockheed Martin Corporation, Kongsberg Gruppen ASA, Thales Group, and GeoSpectrum Technologies Inc. are the leading players upgrading their product portfolio in the regions to improve their customer outreach and developing modern technologies to remain competitive in the market.
Report Scope:
In this report, Global Sonar System Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
. Sonar System Market, By Product Type:
o Hull-mounted Sonar
o Stern-mounted Sonar
o Dipping Sonar
o Sonobuoy
. Sonar System Market, By Installation:
o Fixed
o Deployable
. Sonar System Market, By Platform:
o Commercial Vessels
o Defence Vessels
o Unmanned Underwater Vehicles (UUVs)
o Aircrafts
o Ports
o Others
. Sonar System Market, By Application:
o Anti-submarine Warfare
o Port Security
o Mine Detection & Countermeasure System
o Search & Rescue
o Navigation,
o Diver Detection
o Others
. Sonar System Market, By Region:
o Asia-Pacific
South Korea
o North America
United States
o Europe & CIS
United Kingdom
o Latin America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Sonar System Market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
. Detailed analysis and profiling of additional market players (up to five).
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