Advancements In Technology Allows The Sonar Systems Market To Grow Beyond $4 Billion By 2026

Date

4/15/2022 7:48:42 AM

(MENAFN- EIN Presswire)

Sonar Systems Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company's Sonar Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, April 15, 2022 /EINPresswire.com / -- Technological advancement in sonar systems is a key trend shaping the sonar systems market outlook. Companies are increasingly innovating to produce technologically-advanced sonar systems for military and warfare. For instance, in 2021, Thales Group, a France-based multinational company for aerospace and defense security, received the contract to develop, test, and manufacture the SonoFlash air-droppable sonobuoy from 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.

The global sonar systems market size is expected to grow from $3.37 billion in 2021 to $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 4.52%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global sonar systems market share is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%.

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The rising number of terrorist attacks is significantly contributing to the growth of the sonar systems market. Terrorism is defined as the violence in an asymmetrical conflict that is designed to induce terror and psychic fear. Sonar systems can be used to find and tackle terror plans such as bombing, underground bomb fixing, unknown submarines in oceans, and others. For instance, according to the Centre for Strategic and International Studies, in the United States, the number of terrorist attacks has increased from 1.5% to 6.4% between 2019 and 2020, which raises the security issue in a country. According to the sonar systems market overview, the rising number of terrorist attacks is driving the market.

Major players covered in the global sonar systems industry are Ultra Electronics, Thales Group, NAVICO, L3Harris Technologies Inc., ATLAS ELEKTRONIK, Kongsberg Gruppen, Lockheed Martin, Teledyne Technologies Incorporated, Sonardyne, Aselsan, FURUNO ELECTRIC CO. LTD, Japan Radio Co., DSIT Solutions Ltd, Northrop Grumman., and General Dynamics Mission Systems Inc.

TBRC's global sonar systems market research report is segmented by product into hull-mounted sonar, stern-mounted sonar, dipping sonar, sonobuoy, by installation into fixed, deployable, by acoustic frequency into ultrasonic, infrasonic, by application into anti-submarine warfare, port security, mine detection and countermeasure systems, search and rescue, navigation, diver detection, seabed terrain investigation, scientific.

Sonar Systems Global Market Report 2022 – 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) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a sonar systems market overview, forecast sonar systems market size and growth for the whole market, sonar systems market segments, geographies, sonar systems market trends, sonar systems market drivers, restraints, leading competitors' revenues, profiles, and market shares.

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