Sonar System Market Global Research & Analysis Report 2023

The “Sonar System Market by Product Type (Hull Mounted, Stern Mounted, Sonobuoy, DDS), Application (Commercial, Defense), Platform (Ship Type, Airborne), End User (Line Fit, Retrofit), Solution (Hardware, Software), Region – Global Forecast to 2023” report presents an in-depth assessment of the Sonar System including enabling technologies, key trends, market drivers, challenges, deployment case studies, standardization, opportunities, future roadmap, value chain, Top key player profiles and strategies. The report also presents market size forecasts from 2018 till 2023.

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The Sonar System Market is projected to grow from US$ 2.6 Billion in 2018 to US$ 3.7 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.98% during the forecast period from 2018 to 2023. The major factors driving the growth of the market are the increasing global seaborne trade activities, growing requirement of ship owners to comply with the maritime safety norms, and flourishing maritime tourism sector.

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The Sonar System Market comprises stakeholders such as Original Equipment Manufacturers (OEMs) of sonar systems, suppliers of electronic systems used in ships, marine navigation software/hardware/services and solution providers, ship operators, defense agencies, defense OEMs, and regulatory authorities in the supply chain of sonar systems.

The Asia Pacific region is estimated to account for the largest share of the sonar system market in 2018. Increasing demand for commercial ships from countries such as India, China, and Japan and growing investments to carry out the modernization of existing ships is expected to drive the growth of the sonar system market in the region.

The Study Objectives of this report are:

• To forecast the size of different segments of the market with respect to 4 major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW), along with their respective key countries
• To define, describe, and forecast the sonar system market based on mode of operation, product type, installation, application, solution, platform, end user, and region
• To identify industry trends and technology trends currently prevailing in the sonar system market
• To profile companies operating in the sonar system market based on their product portfolios, market shares, and key growth strategies
• To analyze the degree of competition in the market by identifying and analyzing various parameters of leading players such as their financial positions, product portfolios, and key developments and ranking them based on these parameters
• To track and analyze competitive developments such as contracts, new product developments, joint ventures/expansions, and partnerships/acquisitions undertaken by the key market players
• To identify detailed financial positions, key products, and key developments of leading companies in the sonar system industry

Top Key Players in the “Sonar System Market” include are

• Raytheon (US)
• Lockheed Martin (US)
• Thales (France)
• Kongsberg Gruppen (Norway)
• Ultra Electronics (UK)
• L3 (US)
• Teledyne (US)
• Sonardyne (UK)
• Atlas Elektronik (Germany)
• Furuno (Japan)
• Navico (Norway)
• Japan Radio (JRC) Co. Ltd. (Japan)
• DSIT (Israel)
• EdgeTech (US)
• Aselsan (Turkey)

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Reason to buy this report:

This report is expected to help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall sonar system market, its segments, and sub segments. This report is also expected to help the stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.

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