Sonar Systems Market - Trends Forecast Till 2028

Market Overview

The global sonar systems market size is projected to reach USD 6.7 billion by 2026 at a CAGR of 1.8% from USD 6 billion in 2021 during the forecast period 2021-2028.

With the surge in the defence expenditure of the developing nations across the world along with the high deliveries of the military vessel are some of the factors that have supported long-term expansion for Sonar Systems Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. The reduction in budget for the defence sector has been a raising issue for the sector.

Regional Analysis

Asia Pacific is expected to be the largest market during the forecast period.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Lockheed Martin
• L3Harris
• Thales Group
• Kongsberg Maritime
• Northrop Grumman Corporation
• Sonardyne
• Teledyne Technologies Inc.
• Ultra Electronics

Recent Developments

• In May 2021, the latest technology in the market is  Echoscope PIPE Real-Time XYZ series sonar which has been specially designed for OEM and system integrators.
• In October 2020, The dual-head configuration named WINGHEAD offers various advantages for bathymetric surveys.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Sonar Systems market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope