Sonar Systems Market Trend is projected to exhibit a CAGR of approximately 5.8% by Forecast 2023

 

The market is projected to register a CAGR of approximately 5.8% during the forecast period.

Market Highlights

Sonar system uses sound propagation to navigate, communicate with or detect objects under the surface of the water. The global sonar systems market has been segmented by type, system, application, and region.

Based on type, the market has been divided into active sonar and passive sonar. The passive sonar segment is expected to grow at the highest rate during the forecast period due to the large adoption of passive sonar for military applications globally. By installation, the market has been classified as vessel mounted, hand-held and pole mounted, towed, UUV, and others. On the basis of application, the market has been segmented into military and commercial.

The global sonar systems market has been analyzed for five key regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America.

North America held largest share of the global sonar systems market in 2017 due to significant increase in defence spending in the US and Canada. Likewise, ongoing improvement in sensor technologies of passive and active sonar in the US is also expected to drive the demand for sonar systems during the review period.

Europe is one of the leading markets for sonar systems owing to rising demand in the UK, France, Russia, and Germany. The growth of the regional market can be attributed to the procurement of sonar to upgrade naval vessels.

Asia-Pacific is projected to grow at the highest rate during the forecast period. The increasing demand for sonar system in tactical defense operations due to increase in border disputes is expected to drive the market growth in this region. In the Middle East & Africa, the demand for sonar systems is expected to increase due to the increase in terrorist attacks in this region and large military expenses in Israel, Saudi Arabia, South Africa and Iran.

Key Players

The key players in the global sonar systems market are Atlas Elektronik (Germany), Kongsberg Gruppen (Norway), L3 (US), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Sonardyne (UK), Teledyne (US), Thales Group (France), and Ultra Electronics (UK).

Scope of the Report

This study provides an overview of the global sonar systems market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The scope of the study segments the sonar systems market by type, installation, application, and region.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/sonar-systems-market-6885

 

 

Comments

Post a Comment

Popular posts from this blog

GERD and NERD Treatment Market Rising Uptake Of Technology In Medical And Healthcare Sector To Boost Industry’s Growth Market 2019 Market Highlights: GERD & NERD Treatment Market Research Report- Americas forecast till 2023 growing continuously and is expected to grow at a CAGR of 4.02 % from 2017 to 2023. Heartburn is the burning sensation in the chest behind the breastbone that we feel when stomach acid refluxes back into the esophagus (food tube). Increasing prevalence of gastric diseases has increased the investment in GERD medication for research and development. This is expected to further drive the demand for gastroenteric drugs. Major players in GERD & NERD treatment market Some of the major players in this market are ( U.S.), GlaxoSmithKline Plc (U.K), Ironwood Pharmaceuticals, Inc. (U.S.), Jeil pharmaceutical Co. Ltd. (South Korea), Johnson & Johnson (U.S.), Mederi Therapeutics Inc. (U.S.), Medigus Ltd. (Israel), Medtronic Inc. (U.S.), Merck & CO.,...
Read more
Air Ambulance Services Market Size, Share, Trends, Application  Global Air Ambulance Services Market  Overview The Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95% during the forecast period. Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft are currently designed and manufactured. It reduces the design constraints that engineers face when using conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse conditions such as inclement weather, tsunamis, droughts, and cyclones. Global Air Ambulance Services Market  Segmental Analysis The global air ambu...
Read more

Satellite Communication (SATCOM) Market Outlook And Opportunities With Future Growth Scenario By 2027

  Market Forecast The satellite communication (SATCOM) market is projected to register a  CAGR of 8.44%  between  2021 and 2027 .   SATCOM is used for the transmission of information from one place to another with the aid of a satellite that orbits around the Earth. SATCOM is employed for a wide range of mobile applications, including communication to aircraft, ships, vehicles, and hand-held terminals, as well as for TV and radio broadcasting. The increasing deployment of small satellites, growing demand for high-speed Internet, and rising adoption of maritime VSAT are primarily driving the market's growth. Additionally, increasing demand for small form factor SATCOM solutions and frequent launches of military satellitesare driving the global market's growth. Globally, military spending has increased significantly in recent years. Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions, territorial disputes between ...
Read more