Sonar System Market
PUBLISHED: 2024 ID: SMRC25611
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Sonar System Market

Sonar System Market Forecasts to 2030 - Global Analysis By Product Type (Sonobuoy, Hull-Mounted, Stern-Mounted, Dipping and Other Product Types), Platform, Solution, Application, End User and By Geography

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4.5 (75 reviews)
Published: 2024 ID: SMRC25611

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Sonar System Market is accounted for $6.3 billion in 2023 and is expected to reach $8.2 billion by 2030 growing at a CAGR of 3.8% during the forecast period. A sonar system, short for Sound Navigation and Ranging, is a technology used to detect, locate, and measure the distance to underwater objects or surfaces by transmitting sound waves and analyzing their reflections. It works on the principle of sending out sound pulses into the water, which bounce off objects and return as echoes. By analyzing the time it takes for the echoes to return and the characteristics of those echoes, such as their amplitude and frequency, the sonar system can determine the distance, size, shape, and even composition of underwater objects.

According to Stockholm International Peace Research Institute, in 2021, global military expenditure increased by 0.7% higher than 2020 and 12% higher than 2012.

Market Dynamics: 

Driver: 

Growing industry of commercial shipping

With increasing global trade and the expansion of offshore industries such as oil and gas, renewable energy, and deep-sea mining, demand for advanced sonar systems is escalating. These systems offer enhanced vessel positioning, underwater mapping, and threat detection capabilities, thus improving operational efficiency and safety standards. Moreover, the advent of autonomous vessels and underwater drones further propels the need for sophisticated sonar solutions. As maritime activities continue to surge, the commercial shipping sector is poised to remain a significant driver of growth in the market.

Restraint:

Complexity of technology

The market exhibits intricate technological complexity, with advanced signal processing algorithms, sophisticated transducer designs, and integration of AI-driven analytics. These systems often incorporate multifaceted sensor arrays, employing various frequencies and modes for underwater exploration, navigation, and detection tasks. Additionally, emerging trends like autonomous operation and underwater communication further add layers of complexity, demanding robust engineering solutions to meet diverse maritime needs while ensuring reliability and accuracy in challenging underwater environments.

Opportunity:

Increasing worries about maritime security

As maritime activities expand, there's a pressing need for advanced sonar technologies to enhance detection capabilities, mitigate risks, and ensure the safety of naval vessels, commercial ships, and coastal infrastructures. This heightened awareness underscores the critical role that sonar systems play in safeguarding maritime domains against emerging security challenges, driving demand for innovative solutions and strategic investments in the sector.

Threat:

Exposure to electronic counterattacks

As adversaries deploy sophisticated electronic warfare techniques, including jamming and spoofing, the reliability and effectiveness of sonar systems are compromised. This threat landscape necessitates constant innovation in defensive strategies, such as encryption and frequency agility, to mitigate the risks of electronic interference. The market faces increasing vulnerability to electronic counterattacks, posing significant challenges to its operational integrity.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Sonar System market. Initially, disruptions in manufacturing and supply chains led to delays in production and delivery of sonar equipment. Furthermore, restrictions on travel and gatherings hindered installation and maintenance services. However, the pandemic also increased the demand for unmanned underwater vehicles (UUVs) equipped with sonar for surveillance and monitoring purposes. As a result, while facing challenges, the market witnessed a shift towards remote-operated and autonomous systems, fostering innovation and adaptation within the industry.

The submarines segment is expected to be the largest during the forecast period

The submarines segment is expected to be the largest during the forecast period. Submarines represent a significant segment within this market, driving innovation and demand for enhanced sonar capabilities. Their integration with advanced sonar systems enables precise navigation, detection, and communication underwater, catering to both military and commercial sectors. As nations invest in modernizing their naval fleets, submarines equipped with state-of-the-art sonar systems remain indispensable assets, ensuring effective underwater surveillance and defense strategies.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is expected to have the highest CAGR during the forecast period. Experience unparalleled underwater detection capabilities with our state-of-the-art Sonar Systems. Designed for precision and reliability, our systems offer advanced imaging and target identification for marine exploration, defense operations, and underwater research. With cutting-edge technology and unparalleled performance, our Sonar Systems deliver unmatched results in even the most challenging environments. Trust us to provide the solutions you need for efficient underwater navigation and detection.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by advancements in underwater technology and increasing demand across various sectors including defense, maritime security, and oil & gas exploration. With a focus on innovation and robust investments in research and development, key players are expanding their product portfolios to offer enhanced capabilities in detection, imaging, and navigation. This trend is expected to fuel further expansion and competitiveness within the region's Sonar System market.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period fueled by the need for underwater surveillance, anti-submarine warfare, maritime border security, and commercial applications such as fisheries and offshore oil and gas exploration. Several companies, both domestic and international, were actively involved in the production and supply of sonar systems in the region. These companies ranged from large defense contractors to specialized technology firms focusing on underwater acoustic solutions. 

Key players in the market

Some of the key players in Sonar System market include EdgeTech, Raytheon Technologies Corporation, Japan Radio Co., Teledyne Technologies Incorporated., Lockheed Martin Corporation, L3Harris Technologies, Inc., Atlas Elektronik, Thales Group, Kongsberg Gruppen ASA, Navico, Aselsan, Hanwha Systems, Sonardyne, General Dynamics and Furuno Electric Co., Ltd. 

Key Developments:

In July 2023, Thales signed a contract with the French defense procurement agency (DGA) to develop a new sonar suite for France’s third-generation nuclear-powered ballistic-missile submarines (SNLE 3G) and the programme to modernize its second-generation submarines (SNLE 2G).

In September 2022, Furuno Electric Co., Ltd. launched a New FLEX Function Display SFD-1010/1012, which has 10"" and 12"" display and control units with a wide range of Furuno sensors from DRS4DL+ Radar to DFF-3D Multibeam Sonar or Fish Finders.

Product Types Covered:
• Sonobuoy
• Hull-Mounted
• Stern-Mounted
• Dipping 
• Other Product Types

Platforms Covered:
• Unmanned Underwater Vehicles
• Aircraft
• Surface Ships
• Submarines
• Commercial Vessels
• Other Platforms

Solutions Covered:
• Hardware 
• Software 

Applications Covered:
• Navigation
• Diver Detection
• Search & Rescue
• Port Security
• Anti-submarine Warfare
• Other Applications

End Users Covered:
• Defense and Military
• Commercial
• Fisheries and Aquaculture
• Oil and Gas
• Other End Users 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary     
       
2 Preface      
 2.1 Abstract     
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology   
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources  
  2.5.2 Secondary Research Sources  
  2.5.3 Assumptions   
       
3 Market Trend Analysis    
 3.1 Introduction    
 3.2 Drivers     
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats     
 3.6 Product Analysis    
 3.7 Application Analysis   
 3.8 End User Analysis    
 3.9 Emerging Markets    
 3.10 Impact of Covid-19    
       
4 Porters Five Force Analysis    
 4.1 Bargaining power of suppliers   
 4.2 Bargaining power of buyers   
 4.3 Threat of substitutes   
 4.4 Threat of new entrants   
 4.5 Competitive rivalry    
       
5 Global Sonar System Market, By Product Type  
 5.1 Introduction    
 5.2 Sonobuoy    
 5.3 Hull-Mounted    
 5.4 Stern-Mounted    
 5.5 Dipping      
 5.6 Other Product Types   
       
6 Global Sonar System Market, By Platform  
 6.1 Introduction    
 6.2 Unmanned Underwater Vehicles  
 6.3 Aircraft     
 6.4 Surface Ships    
 6.5 Submarines    
 6.6 Commercial Vessels   
 6.7 Other Platforms    
       
7 Global Sonar System Market, By Solution  
 7.1 Introduction    
 7.2 Hardware    
  7.2.1 Displays    
  7.2.2 Control Units   
  7.2.3 Sensors    
  7.2.4 Receiver    
  7.2.5 Transmitter   
 7.3 Software 
       
8 Global Sonar System Market, By Application  
 8.1 Introduction    
 8.2 Navigation    
 8.3 Diver Detection    
 8.4 Search & Rescue    
 8.5 Port Security    
 8.6 Anti-submarine Warfare   
 8.7 Other Applications    
       
9 Global Sonar System Market, By End User  
 9.1 Introduction    
 9.2 Defense and Military   
 9.3 Commercial    
 9.4 Fisheries and Aquaculture   
 9.5 Oil and Gas    
 9.6 Other End Users    
       
10 Global Sonar System Market, By Geography  
 10.1 Introduction    
 10.2 North America    
  10.2.1 US    
  10.2.2 Canada    
  10.2.3 Mexico    
 10.3 Europe     
  10.3.1 Germany    
  10.3.2 UK    
  10.3.3 Italy    
  10.3.4 France    
  10.3.5 Spain    
  10.3.6 Rest of Europe   
 10.4 Asia Pacific    
  10.4.1 Japan    
  10.4.2 China    
  10.4.3 India    
  10.4.4 Australia    
  10.4.5 New Zealand   
  10.4.6 South Korea   
  10.4.7 Rest of Asia Pacific   
 10.5 South America    
  10.5.1 Argentina   
  10.5.2 Brazil    
  10.5.3 Chile    
  10.5.4 Rest of South America  
 10.6 Middle East & Africa   
  10.6.1 Saudi Arabia   
  10.6.2 UAE    
  10.6.3 Qatar    
  10.6.4 South Africa   
  10.6.5 Rest of Middle East & Africa  
       
11 Key Developments     
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
 11.2 Acquisitions & Mergers   
 11.3 New Product Launch   
 11.4 Expansions    
 11.5 Other Key Strategies   
       
12 Company Profiling     
 12.1 EdgeTech     
 12.2 Raytheon Technologies Corporation  
 12.3 Japan Radio Co.    
 12.4 Teledyne Technologies Incorporated.  
 12.5 Lockheed Martin Corporation   
 12.6 L3Harris Technologies, Inc.   
 12.7 Atlas Elektronik    
 12.8 Thales Group    
 12.9 Kongsberg Gruppen ASA   
 12.10 Navico     
 12.10 Aselsan     
 12.12 Hanwha Systems    
 12.13 Sonardyne    
 12.14 General Dynamics    
 12.15 Furuno Electric Co., Ltd.    
       
List of Tables      
1 Global Sonar System Market Outlook, By Region (2021-2030) ($MN)
2 Global Sonar System Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Sonar System Market Outlook, By Sonobuoy (2021-2030) ($MN)
4 Global Sonar System Market Outlook, By Hull-Mounted (2021-2030) ($MN)
5 Global Sonar System Market Outlook, By Stern-Mounted (2021-2030) ($MN)
6 Global Sonar System Market Outlook, By Dipping  (2021-2030) ($MN)
7 Global Sonar System Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Sonar System Market Outlook, By Platform (2021-2030) ($MN)
9 Global Sonar System Market Outlook, By Unmanned Underwater Vehicles (2021-2030) ($MN)
10 Global Sonar System Market Outlook, By Aircraft (2021-2030) ($MN)
10 Global Sonar System Market Outlook, By Surface Ships (2021-2030) ($MN)
12 Global Sonar System Market Outlook, By Submarines (2021-2030) ($MN)
13 Global Sonar System Market Outlook, By Commercial Vessels (2021-2030) ($MN)
14 Global Sonar System Market Outlook, By Other Platforms (2021-2030) ($MN)
15 Global Sonar System Market Outlook, By Solution (2021-2030) ($MN)
16 Global Sonar System Market Outlook, By Hardware (2021-2030) ($MN)
17 Global Sonar System Market Outlook, By Displays (2021-2030) ($MN)
18 Global Sonar System Market Outlook, By Control Units (2021-2030) ($MN)
19 Global Sonar System Market Outlook, By Sensors (2021-2030) ($MN)
20 Global Sonar System Market Outlook, By Receiver (2021-2030) ($MN)
21 Global Sonar System Market Outlook, By Transmitter (2021-2030) ($MN)
22 Global Sonar System Market Outlook, By Software (2021-2030) ($MN)
23 Global Sonar System Market Outlook, By Application (2021-2030) ($MN)
24 Global Sonar System Market Outlook, By Navigation (2021-2030) ($MN)
25 Global Sonar System Market Outlook, By Diver Detection (2021-2030) ($MN)
26 Global Sonar System Market Outlook, By Search & Rescue (2021-2030) ($MN)
27 Global Sonar System Market Outlook, By Port Security (2021-2030) ($MN)
28 Global Sonar System Market Outlook, By Anti-submarine Warfare (2021-2030) ($MN)
29 Global Sonar System Market Outlook, By Other Applications (2021-2030) ($MN)
30 Global Sonar System Market Outlook, By End User (2021-2030) ($MN)
31 Global Sonar System Market Outlook, By Defense and Military (2021-2030) ($MN)
32 Global Sonar System Market Outlook, By Commercial (2021-2030) ($MN)
33 Global Sonar System Market Outlook, By Fisheries and Aquaculture (2021-2030) ($MN)
34 Global Sonar System Market Outlook, By Oil and Gas (2021-2030) ($MN)
35 Global Sonar System Market Outlook, By Other End Users (2021-2030) ($MN)
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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