February 22, 2024

Military Vessel Deliveries Propel SONAR System Market Growth, Aquaculture and Hull Mounted Systems Further Contribute

The global SONAR System Market is experiencing significant growth, thanks to the stable expansion of military vessel deliveries. The demand for advanced SONAR systems in military vessels for precision tracking, detection, and classification of underwater threats such as torpedoes has surged. These systems play a crucial role in enhancing safety and security, with applications extending to mine detection, anti-submarine warfare (ASW), seabed terrain investigation, port security, and diver detection, among others. Different types of SONAR systems are utilized depending on the vessel type, such as passive SONAR for submarines and multi-static SONAR for corvettes and frigates. The growth of existing navy fleets and military vessels is expected to continue influencing the SONAR system market in the years to come.

Aquaculture Drives the Expansion of SONAR Systems

Another key driver for the SONAR system market is the increasing use of SONAR technology in aquaculture. Fish monitoring using advanced SONAR systems is gaining traction as it supports efficient fish farming and offers nocturnal monitoring capabilities. With growing fish consumption and the need to maintain fish resources, effective fish farming has become essential in addressing global food supply concerns. This trend is expected to contribute significantly to the growth of the SONAR system market.

Hull Mounted Systems Gain Traction

The demand for hull-mounted SONAR systems is poised for substantial growth, primarily due to their increased adoption in defense vessels for various applications. Hull-mounted SONAR systems, including forward-looking SONAR, omni-directional SONAR, and echo sounders, are being used for seabed monitoring, anti-submarine warfare, diver detection, and vessel traffic management, enhancing the efficiency of ships. This rising demand for hull-mounted systems is expected to be a significant driver of revenue growth in the SONAR system market.

Asia Pacific Emerges as a Hotspot

Asia Pacific has become a hotspot for naval activities, driven by geopolitical tensions, particularly in the South China Sea region. This has led to the procurement of new naval assets and the modernization of existing fleets in countries across the region. For example, China has been expanding its naval fleets, making it the largest navy in terms of submarines and frigates. Moreover, China is focused on enhancing its anti-submarine warfare capabilities, which is expected to accelerate the SONAR system market.

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Other Asian countries are also investing in naval strength, including SONAR systems, to gain situational awareness in the ocean. Developing economies in the region are increasing their investments in naval equipment integrated with advanced technologies. For instance, the Government of India has allocated a substantial budget for naval enhancement, including submarines, ships, and associated equipment. This is expected to drive the integration of SONAR systems into vessels across the Asia Pacific region, offering ample opportunities for companies in the SONAR system market.

North America’s Strong Attractiveness

In contrast, developed economies in North America are set to showcase high attractiveness in the SONAR system market. Favorable shipbuilding initiatives, fleet expansions, and technological advancements in the naval sector are driving growth. The United States, for instance, initiated a shipbuilding plan in 2020 that includes adding 82 new vessels, with a budget of US$147 billion, to be completed by 2026. This is expected to have a significant impact on the SONAR system market in the region. Strong economic growth and robust naval infrastructure further strengthen the demand for SONAR systems in North America.

Competitive Landscape

The SONAR system market is characterized by fragmentation, with various SONAR manufacturers offering different types of systems. Prominent players are investing in product innovations to secure major contracts from end users, gaining a competitive edge. Recent contracts awarded to industry leaders include Leonardo SpA providing SONAR systems for Italian Navy submarines and SyQwest building a SONAR transducer stack assembly for the United States Navy Submarine Acoustic Systems Program. Key players in the global SONAR system market include Thales Group, Thyssenkrupp AG, General Dynamics Corporation, Aselsan AS, Kongsberg Gruppen ASA, EdgeTech, NAVICO, Teledyne Technologies Inc., and Atlas Elektronik India Pvt. Ltd.

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Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/sonar-system-market


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This press release first seen on Brilad