The global SONAR system market is expected to grow steadily, reaching $3.76 billion by 2029, with an annual growth rate of 7.96%. According to a report by Fortune Business Insights™, the market was valued at $2.09 billion in 2021 and rose to $2.20 billion in 2022. SONAR (Sound Navigation and Ranging) is an advanced technology that uses sound waves to detect, navigate, and communicate with objects underwater.

Know More Information:

https://www.fortunebusinessinsights.com/industry-reports/sonar-system-market-101830

List of Key Companies Covered in SONAR System Market are:

• ASELSAN A.Ş. (Turkey)

• ATLAS ELEKTRONIK INDIA Pvt. Ltd. (India)

• DSIT Solutions Ltd. (Israel)

• EdgeTech (U.S.)

• FURUNO ELECTRIC CO., LTD. (Japan)

• Japan Radio Co. (Japan)

• KONGSBERG (Norway)

• Lockheed Martin Corporation (U.S.)

• L3Harris Technologies, Inc. (U.S.)

• NAVICO (Norway)

• Raytheon Technologies Corporation (U.S.)

• SONARDYNE (U.K)

• Teledyne Technologies Incorporated. (U.S.)

• Thales Group (France)

• Ultra (U.K)

Segments:

The SONAR system market is categorized in several ways. Based on product type, it includes sonobuoys, stern-mounted, hull-mounted, and DDS systems. In terms of application, the market is divided into defense and commercial uses. When looking at platforms, SONAR systems are used on both airborne and ship-based platforms.

For solutions, the market is split into hardware and software. The hardware segment includes components like control units, transmitters, receivers, display sensors, and different types of ultrasonic sensors, such as diffuse proximity sensors, VME-ADC, through-beam sensors, and retro-reflective sensors.

Regarding end-users, the market is divided into retrofit (upgrading existing systems) and line fit (integrated into new builds). Geographically, the market is spread across Europe, North America, Asia Pacific, and the rest of the world.

Report Coverage:

The research report offers an in-depth analysis of the SONAR system market, covering major players, different platforms, product types, solutions, and applications. It also highlights market trends and key industry advancements. Additionally, the report explores various factors that have driven market growth in recent years.

Drivers & Restraints:

The growing need for tactical defense operations is driving demand for sonobuoys. These advanced underwater acoustic devices are deployed from naval ships to detect and transmit underwater sounds using transducers and radio transmitters. Some specialized buoys also collect environmental data like wave height and water temperature. As military vessels increasingly rely on sonobuoys, the market is expected to grow. However, the high cost of developing SONAR technology could slow down this growth.

Regional Insights:

North America Leads the Global SONAR System Market

In 2021, North America dominated the SONAR system market, reaching a value of $665.5 million. This strong position is mainly due to the U.S.'s increasing naval shipbuilding efforts. According to a 2020 shipbuilding plan, the U.S. is set to add 82 new ships between 2022 and 2026, with a total investment of $147 billion.

Asia Pacific Expected to See Significant Growth

Asia Pacific is projected to experience rapid market growth, driven by rising naval budgets and expanding domestic ship production in China and South Korea. Japan has also increased ship deliveries, while South Korean shipbuilders are integrating automation into ship systems to boost industry progress.

Europe’s Market Growth Driven by Advanced Ship Upgrades

Europe’s SONAR market is expanding due to the adoption of next-generation threat detection systems and the modernization of ships with autonomous engineering technologies. In the U.K., increasing investment in marine system upgrades is expected to further drive market growth.

Competitive Landscape:

Leading companies in the SONAR system market maintain their dominance due to their wide range of products and strong focus on research and development. For example, in March 2020, Impact Subsea introduced the ISS360 SONAR, the smallest imaging SONAR in the world. This device can operate at distances of up to 90 meters (295 feet) while delivering high-quality imaging.

Key Industry Development:

In February 2022: ELAC SONAR secured a $58 million contract from Leonardo SpA to provide SONAR systems for two new submarines built by Fincantieri for the Italian Navy.