SONAR System Market size is set to grow by USD 1.52 bn from 2024-2028, growing preference for deploying integrated sonar system boost the market- Technavio

NEW YORK, March 25, 2024 /PRNewswire/ -- The global sound navigation and ranging (sonar) system market  size is estimated to grow by USD 1.52 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.35%  during the forecast period.  The SONAR system market experiences growth due to rising ASW demands, driven by the proliferation of underwater platforms. Countries enhance their capabilities with advanced SONAR technologies, including AI and ML, sensor fusion, and data integration. Vendors innovate with smart inverters, addressing terrorist threats and seaborne trade activities. 

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Segment Overview 

This sound navigation and ranging (sonar) system market report extensively covers market segmentation by Type (Passive SONAR, Active SONAR) Application (Defense, Civil, commercial) Geography (APAC, North America, Europe, South America, Middle East and Africa)

Market segmentation by Type
The global Sound Navigation and Ranging (SONAR) system market for defense applications is experiencing significant growth due to the increasing investment in next-generation submarines and submerged platforms by major economies. The focus on maritime security and information-gathering capabilities, driven by territorial disputes, is leading to the upgrading of existing naval platforms with advanced SONAR and combat systems. This trend is anticipated to continue, with the market expected to grow substantially during the forecast period.

Geography Overview

The APAC region is projected to lead the global market for Sonar systems due to increasing investments in underwater warfare technologies. Countries such as China, India, Japan, South Korea, and Australia are enhancing their undersea capabilities, driving demand for Sonar systems. The vulnerable security conditions in the region have accelerated this trend. Notably, India's Defence Research and Development Organisation (DRDO) inaugurated a new facility in November 2023 for testing and assessing the Indian Navy's Sonar systems, underscoring the importance of this technology in the region. 

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• In the context of heightened maritime security threats, countries are bolstering their submarine defense capabilities. Investments focus on advanced SONAR systems, integrating AI and ML for improved ASW, sensor fusion, and data analysis. Smart inverters enhance underwater acoustic performance. Amidst growing seaborne trade activities and terrorist attacks, the SONAR system market experiences significant growth.
• The Intelligence, Surveillance, and Reconnaissance (ISR) market, driven by AI and ML, is crucial for military operations. SONAR systems, a key ISR technology, employ sensor fusion and data integration for counter-submarine warfare and monitoring seaborne trade activities. Rapid advancements in AI and ML will continue shaping the SONAR system market, enhancing situational awareness against terrorist attacks and other threats.

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Research Analysis

The Sound Navigation and Ranging (SONAR) system market encompasses innovative technologies utilized in various maritime applications. Key sectors include hydrography for mapping seabed terrain, fishing for locating schools of fish, and oil exploration for detecting underwater oil reserves. SONAR systems are integral to military strategies, enabling warships and nuclear submarines to navigate and detect enemy vessels, as well as terrorist acts. Passive and Active sonar systems are employed for maritime observation, port security, search and rescue, navigation, diver detection, and underwater resource exploration. Autonomous underwater vehicles, hull-mounted sonar, stern-mounted sonar, and dipping sonar are essential components of this market. Scientific applications include marine observation and environmental monitoring. Overall, the SONAR system market continues to grow, driven by advancements in technology and increasing demand for efficient and accurate underwater exploration and observation.

Market Research Overview

The Sound Navigation and Ranging (SONAR) system market represents a significant segment of the underwater technology industry. This technology utilizes sound waves to detect and locate objects or boundaries in water environments. SONAR systems are crucial for various applications, including naval warfare, oil exploration, and marine research. The market for SONAR systems is driven by factors such as increasing demand for deep-sea exploration, advancements in technology leading to improved system capabilities, and growing focus on safety and efficiency in marine operations. Companies operating in this market include Hydrography, Oceaneering, and Submarine Technology & Engineering. The market is expected to grow at a steady pace due to the continuous need for accurate and reliable underwater data. Additionally, the integration of artificial intelligence and machine learning algorithms in SONAR systems is expected to further enhance their capabilities and expand their applications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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