Sonar Systems Market Report 2022: By Key Players, Trends, Size, Share and Forecast 2022-2028
The global sonar systems market is expected to grow at a significant CAGR during the forecast period. The COVID-19 pandemic resulted in a 4.1% drop in marine trade in 2020, according to the latest data from the United Nations Conference on Trade and Development (UNCTAD). Following waves of breakouts, supply chains are expected to be disrupted, as well as the operations of shipping networks and ports, resulting in a drop in cargo volumes. The naval vessel sector, particularly its workforce, is a key source of concern as the industry attempts to keep public and private shipyards open and operational to build new ships and repair current ones. Naval shipbuilding and allied component and subsystem makers are concerned about the supply of raw materials as a result of the global epidemic. Furthermore, reduced exports of core naval construction materials from major importing countries may result in large price fluctuations in raw materials, which affected shipbuilder profit margins.
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As ships and other naval vessels must travel over such a large distance, sonar devices are utilized to navigate and identify undersea impediments to avoid shipwrecks. The growing naval fleet of the armed forces is driving the growth of the market. This is due to the procurement of new ships and submarines, as well as upgrade plans for current naval vessels. Concerns about the impact of sonar systems on marine species have arisen as a key market barrier. As sonar systems are effective against mines and support in anti-submarine warfare, they are widely used in naval combat. To improve their marine capabilities, most countries are modernizing their naval fleets. For instance, a geopolitical schism in the South China Sea has prompted China and Japan to deploy new naval vessels to protect their respective areas against a potential hostile invasion. On that topic, Japan launched the first of their new class of diesel-electric submarines, the Taigei, in October 2020. China also unveiled its new Type-100 Class nuclear-powered submarine in April 2021, which can carry 48 submarine-launched ballistic missiles (SLBMs).
Various companies are engaged in the manufacturing of sophisticated sonar systems, such as diver detection, towed, hull-mounted, dunking sonars, sonobuoys, and other sonar-based surveillance systems for the global naval forces, to support the increasing demand for anti-submarine capabilities and sonar systems. Furthermore, due to their superior sensing capabilities, unmanned underwater vehicles (UUVs) have evolved into feasible technologies capable of innovating and transforming anti-submarine warfare (ASW).
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered-
o By Platform
o By Application
· Competitive Landscape: Thales Group, General Dynamics Corp., and Thyssenkrupp AG, among others.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominates the market in base year?
· Which segment and region will project fastest growth in the market?
· How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
Global Sonar Systems Market Report Segmentation
By Platform
• Commercial Vessels
• Defence Vessels
• Unmanned Underwater Vehicles (UUVs)
• Aircrafts
• Ports
By Application
• Commercial
• Defense
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Sonar Systems Market– Segment by Region
North America
· United States
· Canada
Europe
· Germany
· United Kingdom
· France
· Spain
· Italy
· Rest of Europe
Asia-Pacific
· China
· Japan
· India
· Rest of Asia-Pacific
Rest of the World
· Middle East & Africa
· Latin America
Company Profiles
· Thales Group
· General Dynamics Corp.
· Thyssenkrupp AG
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