Sonar Systems Market
Sonar systems Market Size Valued at USD 7.1 Billion, market Grow at a CAGR Of 2% by 2020 -2030. Sonar system uses sound propagation to navigate, communicate with or detect objects under the surface of the water. The global sonar systems market has been segmented by type, system, application, and region.
The global sonar systems market has been analyzed for five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.
Europe is one of the leading markets for sonar systems owing to rising demand in the UK, France, Russia, and Germany. As per Sonar Reporting the growth of the regional market can be attributed to the procurement of sonar to upgrade naval vessels.
North America held largest share of the global sonar systems market in 2017 due to significant increase in defense 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.
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.
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. On the basis of application, the market has been segmented into military and commercial.
The key players in the global sonar systems market are Atlas Electronic (Germany), Kongsberg Gruppen (Norway), L3 (US), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Sonar dyne (UK), Teledyne (US), Thales Group (France), and Ultra Electronics (UK).
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 Cost of Sonar, 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.
· Active Sonar
· Passive Sonar
· Vessel Mounted
· Hand-Held and Pole Mounted
· North America
· Middle East & Africa
· Latin America
Sonar systems Market Report: Information by Type (Active Sonar and Passive Sonar), by installation (Vessel Mounted, Hand-Held and Pole Mounted, Towed, UUV, and Others), by Application (Military, and Commercial), & Region - Global Forecast till 2030 @ https://www.marketresearchfuture.com/reports/sonar-systems-market-6885
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