Sonar Systems Global Market Report 2022: Market Size, Trends And Forecast To 2026
The Business Research Company’s Sonar Systems Global Market Report 2022: Market Size, Trends And Forecast To 2026
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As per The Business Research Company’s “Sonar Systems Global Market Report 2022”, the sonar systems market is predicted to reach a value of $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 4.52%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The sonar systems market is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%. The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market.
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Key Trends In The Sonar Systems Market
Technological advancement in sonar systems is a key trend in the sonar systems market. Companies are increasingly innovating to produce technologically advanced sonar systems for the military and warfare. For instance, in 2021, Thales Group, a France-based multinational company for aerospace and defence security, received the contract to develop, test, and manufacture the SonoFlash air-droppable sonobuoy from the French Defence Procurement Agency (DGA) to strengthen its anti-submarine warfare systems in the French Naval force. This advanced technology provides a complex sonar system, which can be used in open-ocean environments. In addition, SonoFlash offers long endurance and is suitable for a wide array of deployment scenarios.
Overview Of The Sonar Systems Market
The sonar systems market consists of sales of sonar systems by entities (organizations, sole traders, and partnerships) that refer to 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 distances 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 analysed by software to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
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Sonar Systems Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Sonar Systems Market Segmentation
• 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 global sonar systems market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Ultra Electronics, Thales Group, NAVICO, L3Harris Technologies Inc., ATLAS ELEKTRONIK, Kongsberg Gruppen, Lockheed Martin
Trends, opportunities, strategies and so much more.
Sonar Systems Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides in-depth sonar systems market research. The market report analyzes sonar systems market size, sonar systems global market trends, sonar systems market growth drivers, sonar systems global market segments, sonar systems market major players, sonar systems global market growth across geographies, and sonar systems market competitors’ revenues and market positioning. The sonar systems market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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