Sonar System Market 2021-2027 Trends, Research Report, Growth Trends, Opportunities, Forecast to 2027

The Sonar Systems market is estimated to record a CAGR of 8% over the forecast period (2021-2027). The sonar system market is growing as the military’s naval foot increases due to procurement of new ships and submarines and upgrade programs of existing naval ships. The growth of the market is also due to increased maritime trade, oil and gas exploration, dredging and fishing activities. Countries that rely on basic fish finders are expected to generate high demand for advanced sonar devices during the forecast period.

Key market players

The major players in the sonar system market include 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), and Aselsan (Turkey), among others. These players have adopted the key strategies of contracts and new product developments to strengthen their position in the sonar system market.

Sonar System Market- Segmentation

On the basis of platform

• Ship Type
• Airborne

On the basis of mode of operation

• Active
• Passive
• Dual

On the basis of end user

• Line Fit
• Retrofit

On the basis of installation

• Vessel-mounted
• Towed
• Airborne
• Port
• Unmanned Underwater Vehicles (UUVs)

On the basis of application

• Defense
• Commercial

On the basis of solution

• Hardware
• Software

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Key Questions Answered by Sonar System Market Report

• What was the Sonar System Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Sonar System Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Sonar System Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.