SONAR System Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

SONAR System Market Overview

SONAR system is used to detect the objects under the surface of the water. Generally, two types of SONAR system are used namely active SONAR and passive SONAR system. Active SONAR emits ultrasonic frequencies and listens to the echo whereas passive SONAR system serves the purpose of listening to the sounds produced by vessels.

Market Size and Forecast

Global SONAR system market is expected to flourish at a CAGR of 6.9% during the forecast period 2017-2024. In 2012, global SONAR system market was held at USD 2.0 Billion. Further, the market of SONAR system is anticipated to garner USD 4.7 Billion by the end of 2024 from USD 2.8 Billion in 2016. Growth in manufacturing coupled with increasing demand for military marines and submarines is expected to drive the growth of the SONAR system market.

In the terms of regional platform, North America is expected to dominate the overall market of SONAR system during the forecast period. Heavy utilization of SONAR system in the military submarines is anticipated to strengthen the growth of SONAR system market in the North America region. Furthermore, adoption of SONAR system for fishing is anticipated to swell the demand for the SONAR system during the forecast period. U.S. is the major market in the region. Furthermore, development of advance passive SONAR system coupled with spiked adoption of technological advance system is envisioned to foster the growth of the global SONAR system market.

Europe region accounted for second position in overall SOANR system market in 2016. U.K. and Germany are expected to contribute significantly to the growth of the SOANR system market on the account of the presence of the major manufacturers of SONAR system in the region. Asia Pacific is projected to grow at highest CAGR over the forecast period 2017-2024. This growing can be attributed to the rising installation of SONAR system in defense ships and submarines in the region. China and India are expected to be the major contributor to the growth of the SONAR system market owing to the wide scale application of the SONAR system such as fisheries, defense and medical survey. Latin America and Middle East & Africa are projected to grow at a decent pace during the forecast period.

Based on type, global SONAR system is bifurcated into active SONAR system and passive SONAR system. In these sub segments, active SONAR segment accounted for the major share in overall SONAR system market.  Apart from this, active SONAR system market is expected to grow at highest CAGR during the forecast period.  

Market Segmentation

Our in-depth analysis has segmented global SONAR system market into the following segments:

By Type

• Active
• Passive

By Frequency

• Infrasonic SONAR
• Ultrasonic SONAR

By Technology Type

• Single Beam Scanning
• Multi Beam Scanning
• Synthetic Apertures SONAR System
• Others

By Application

• Commercial
• Military
• Scientific

By Region

Global SONAR system market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Turkey, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and North Africa (GCC, Israel, North Africa, South Africa & Rest of Middle East) Market Size and Y-O-Y Growth Analysis

Growth Drivers & Challenges

Rising number of marine defense ships across the globe is one of the key growth drivers of the global SONAR system market. Apart from this, increasing defense budgets in various nations is projected to drive the growth of the global SONAR system market. Apart from this, rising preference for integrated SONAR system ships is expected to escalate the growth of the SONAR system market in the next few years.

Research and development of technologically advanced SONAR system is predicted to trigger the growth of the global SONAR system market. Additionally, spiked demand for technologically advanced defense equipment is likely to accelerate the growth of the SONAR system market globally.

In contrast, problems related with the complexity of data management are anticipated to dampen the growth of the global SONAR system market.

Key Players

• Ultra Electronics
  • Company Overview
  • Key Product Offerings
  • Business Strategy
  • SWOT Analysis
  • Financials

• Neptune SONAR Ltd
• Kongsberg Maritime
• Exelis, Inc.
• Thales Underwater Systems Ltd.
• Lockheed Martin Corporation
• L-3 Klein Associates Inc.
• General Dynamics Corporation
• Teledyne Reson A/S
• The Raytheon Company

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global SONAR system market is segmented as follows:

• By Type Market Size & Y-O-Y Growth Analysis
• By Frequency Market Size & Y-O-Y Growth Analysis
• By Technology Type Market Size & Y-O-Y Growth Analysis
• By Application Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment