According to the research report, the global sonar systems market size was valued at USD 7.0 billion in 2021 and is expected to reach USD USD 7.0 billion by 2030, growing at a CAGR of 1.9% during the forecast period.
What is Sonar Systems? How Big is Sonar Systems Market?
Sonar systems indicate a technique for determining and discovering the direction and distance of objects that are underwater by acoustic means. Sound waves discharged by or mirrored from the thing are discovered by sonar instruments and inspected for the information they possess. Sonar was essentially suggested as a way of learning icebergs. Attentiveness in sonar was intensified by the menace posed by submarine warfare in World War I.
A predominant step in the advancements of sonar systems was the invention of the acoustic transducer and the representation of systematic acoustic projectors. These inventions used piezoelectric crystals, magnetostrictive substances, or electrostrictive crystals. When administered to magnetic or electric fields, these substances transform into shape, thereby converting electric energy to acoustic energy. Preferably arranged in an oil-filled housing, beams of acoustic energy are produced over frequencies that are wide-ranging.
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Highlights of the report
Top Market Players in the Global Market Are:
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Sonar systems market: Growth leading factors
A sonobuoy is a developed system ejected from naval ships for acoustic research that is underwater. Sonobuoys are utilized as an up-to-date transducer and a radio transmitter to transmit and record underwater sound. Further, the special purpose buoys offer additional information about the environment like water temperature and wave height.
The deep neural framework is utilized in the sonar system for monitoring fish. Fish monitoring in aquaculture farms is expected for the development of fish resources. The deep neural network sonar comprises high accuracy imaging sonar and an underwater optical camera. The system warrants monitoring that is nighttime and assists in cultivating more efficient fish farming. Thus increasing demand for the system in aquaculture farms pushes the market’s growth rate.
The covid-19 pandemic has had a reasonably lesser influence on the market studied. The maritime trade was impacted by the pandemic in the commercial sector in 2020 and stretched over some months in 2021. Trade levels recuperated for the entire year of 2021, which is anticipated to drive the accession of cargo ships that were new.
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Sonar Systems Market: Report Scope
Report Attribute
Details
Market Size 2021 Value
USD 7.0 billion
Market Outlook for 2030
Expected CAGR Growth
1.9% from 2022 – 2030
Base year
2020
Forecast period
2022 – 2030
Segments covered
By Application, By Platform, By Ports, By Installation, By Region
Key Companies
Atlas Elektronik, FLIR Systems, Furuno Electric Co., Japan Radio Company, Kongsberg Gruppen ASA, L3 Technologies, Lockheed Martin, Navico, Raytheon Company, Sonardyne, Teledyne Technologies Inc., Thales Group, and Ultra Electronics.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Sonar systems market: Key segmentation
By application, the anti-submarine warfare (ASW) segment contributed to the most significant revenue in the global market. It is an underwater combat branch that engages surface warship submarines to detect, trace and demolish enemy submarines. By platform, the commercial segment is anticipated to display the speediest growth over the forecast period. This growth is assigned to the growing demand for oil and gas survey applications for fish chirps sonar, hydrographic surveys, and enhancing overall ship remittance and operations that are retrofitting. The hull-mounted segment held the highest shares by ports due to forward-looking sonars in the defense vehicles.
By region, the North American sonar systems market dominated the area due to the growth in the building of naval ships in the US. In 2020, the US government suggested a shipbuilding plan in which 82 novel ships valued at up to USD 147 billion will be added in the forecast period. The Asia Pacific will display an exceptional development because of increased spending in the naval sector and domestic ship production growth in China and South Korea. They were growing the conveyance of commercial ships in Japan and combining automation to ship systems by several shipbuilding players in South Korea to push the market growth.
Browse the full “Sonar Systems Market Share, Size, Trends, Industry Analysis Report, By Application; By Platform (Commercial Vessels, Defense Vessels, Unmanned Underwater Vehicles (UUVs), Aircraft, Ports); By Ports; By Installation, By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/sonar-system-market
Important Questions Being Answered by The Market Report
The market primarily depends on the application, platform, ports, installation, and region
Sonar systems market: By application
Sonar systems market: By platform
Sonar systems market: By ports
Sonar systems market: By installations
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