Sonar System Market
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The sonar system market is projected to grow at a CAGR 6.18% rate during the forecast period. The major factors driving the growth of the market are the increasing global seaborne trade activities, growing requirement of ship owners to comply with the maritime safety norms, and flourishing maritime tourism sector.
The defense segment of the market is projected to grow at a higher CAGR than the commercial segment from 2018 to 2023. The growth will due to the increased demand for different types of ships by naval forces of different countries. Moreover, the increasing demand for equipping naval ships with updated Anti-submarine Warfare (ASW) systems is expected to drive the growth of the defense segment of the market.
The retrofit segment of the market is projected to grow at a higher CAGR. Increasing demand for retrofitting in existing commercial vessels from the European and Asia Pacific regions is expected to drive the growth of the retrofit segment of the market from 2018 to 2023.
The increased demand for autonomous ships and cruise ships in the European region are reasons for the Europe market is projected to grow at the highest CAGR from 2018 to 2023.
Key market players 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.
Key questions addressed by the report
- What is the growth perspective of the market? What are the key dynamics and trends that govern the market?
- What are the key sustainability strategies adopted by leading players operating in the market?
- What are the new emerging technologies and use cases disrupting the marine industry?
- Which are the key applications, wherein synthetic aperture sonars play a significant role?
- What are the key trends and opportunities in the market across different regions and their respective countries?
- Who are the key players and innovators in the partnership ecosystem of the market?
- How is the competitive landscape changing in the client ecosystem and impacting revenue shares of clients?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Sonar System Market, By Application
6. Sonar System Market, By End User
7. Sonar System Market, By Mode of Operation
8. Sonar System Market, By Solution
9. Sonar System Market, By Installation
Unmanned Underwater Vehicles
10. Sonar System Market, By Product Type
11. Sonar System Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
12. Company Profiles
Japan Radio (JRC) Co., Ltd.
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