Sonar Systems Market Outlook 2019 | Size, Industry Demand, Leading Players Review, Business Statistics, Impressive Growth and Forecast to 2023

Sonar Systems Market Global Research Report by Type (Active Sonar and Passive Sonar), installation (Vessel Mounted, Hand-Held and Pole Mounted, Towed, UUV and others), Application (Military, and Commercial) and Region

Market Analysis

Global Sonar Systems Market is expected to grow at a significant rate during the forecast period due to the increase in demand for sonar systems by the naval forces in emerging economies. Defense authorities across the world are focused on purchasing advanced sonar systems, especially in countries that are currently involved in conflicts and territorial disputes. Due to the increasing number of conflicts, the naval forces use sonar systems to enhance anti-submarine warfare capabilities, which is driving market growth.

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Key Players

The key players in the Global Sonar Systems Market are Atlas Elektronik (Germany), Kongsberg Gruppen (Norway), L3 (US), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Sonardyne (UK), Teledyne (US), Thales Group (France), and Ultra Electronics (UK).

Market Segment

Based on type, the market has been divided into active sonar and passive sonar. The passive sonar segment is expected to grow at the highest rate during the forecast period due to the large adoption of passive sonar for military applications globally. By installation, the market has been classified as vessel mounted, hand-held and pole mounted, towed, UUV, and others. Based on application, the market has been segmented into military and commercial.

Global Sonar Systems Market has been analysed for five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.

North America held largest share of the global sonar systems market in 2017 due to significant increase in defence spending in the US and Canada. Likewise, ongoing improvement in sensor technologies of passive and active sonar in the US is also expected to drive the demand for sonar systems during the review period.

Europe is one of the leading markets for sonar systems owing to rising demand in the UK, France, Russia, and Germany. The growth of the regional market can be attributed to the procurement of sonar to upgrade naval vessels.

Asia-Pacific is projected to grow at the highest rate during the forecast period. The increasing demand for sonar system in tactical defense operations due to increase in border disputes is expected to drive the market growth in this region. In the Middle East & Africa, the demand for sonar systems is expected to increase due to the increase in terrorist attacks in this region and large military expenses in Israel, Saudi Arabia, South Africa and Iran.

Scope of the Report

This study provides an overview of the global sonar systems market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The scope of the study segments the sonar systems market by type, installation, application, and region.

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