What is the Projected Market Size And Growth Forecast For The Sonar Systems Market?
The sonar systems market size has seen strong growth recently, transitioning from $4.24 billion in 2024 to an expected $4.61 billion in 2025 with a compound annual growth rate (CAGR) of 8.7%. This growth can largely be attributed to factors such as naval defense investments, underwater resource exploration, autonomous underwater vehicles (AUVs), commercial fishing industry, and environmental monitoring.
Looking forward, the sonar systems market size is projected to reach $5.99 billion in 2029 with a compound annual growth rate (CAGR) of 6.8%. Factors such as increasing solar power projects, growing popularity of off-grid solar tracker for power production, rising demand for energy, accelerating awareness about the environmental benefits of solar power, and favorable government policies and initiatives are the key drivers. Major trends for this forecast period include artificial intelligence (AI) and machine learning (ML), 3D sonar imaging and mapping, counter-submarine warfare (ASW), sensor fusion and integration, and smart inverters.
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Which Factors Are Driving Market Growth Of Sonar Systems?
The rising number of terrorist attacks significantly contributes to the growth of the sonar systems market. Terrorism, an asymmetrical conflict inducing terror and psychic fear, can be mitigated with the use of Sonar systems. They can detect and respond to terror plans such as bombing, underground bomb fixing, and unknown submarines in oceans. According to the Global Terrorism Index (GTI) 2023, the number of deaths from terrorism more than doubled from 2021 to 2022, stimulating the market for sonar systems.
What Are the Major Segments Of The Global Sonar Systems Market?
1) By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
2) By Installation: Fixed, Deployable
3) By Acoustic Frequency: Ultrasonic, Infrasonic
4) By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
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Which Are The Major Players Operating In The Sonar Systems Market?
Major companies operating in the sonar systems market include Ultra Electronics Holdings plc, Thales Group, Navico Holding AS, L3Harris Technologies Inc., Atlas Elektronik GmbH, and others.
What Are The Emerging Trends In The Sonar Systems Market?
Technological advancements in sonar systems are key market trends. Companies are innovating to produce technologically advanced sonar systems primarily for military and warfare uses. For instance, Thales Group was contracted in 2021 to develop, test, and manufacture the Sono Flash air-droppable sonobuoy. This advanced technology, providing complex sonar systems, can be used in open-ocean environments and has long endurance, making it suitable for an array of deployment scenarios.
Which Region Is Projected As The Fastest Growing In The Sonar Systems Market?
North America was the largest region in the sonar system market in 2024. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Sonar Systems Market Report 2025 Offer?
Sonar systems refer to those based on the SONAR (Sound Navigation and Ranging) technology, wherein sound waves are propagated for mapping distances and objects, especially in marine navigation. The Sonar Systems Market research report from The Business Research Company offers a global market size, growth rates, regional shares, competitor analysis, detailed segments, trends, and opportunities. Purchase your exclusive report now to unlock valuable market insights: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5736
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