Report Id: SNS/A&D/1165 | May 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Sonar System Market is estimated to be USD 6.31 billion in 2022 and is projected to reach USD 7.34 billion by 2030, at a CAGR of 1.9% from 2023 to 2030.
The enhanced anti-submarine warfare capabilities market is driven by factors such as the adoption of sonar systems by naval forces, the growing use of sonorous in tactical defense programs, and the rising demand for high-resolution imaging for seabed mapping.
The commercial vessels segment of the sonar system market is projected to grow from USD 2686.5 million in 2021 to USD 2939.0 million by 2028, at a CAGR of 1.9% from 2021 to 2028. The defence vessels segment is projected to grow from USD 1495.2 million in 2021 to USD 1650.2 million by 2028, at a CAGR of 2% during the forecast period.
The stable growth drive the market for sonar systems.
The navy uses a number of highly developed sonar systems to achieve the highest level of accuracy.
In warships, Sonar systems are used for a number of applications
Different types of vessels use different sonar for different applications
The high cost of sonar development is a major impediment to market expansion.
The system's expensive installation and maintenance costs limit market expansion.
The immediate impact of the COVID-19 epidemic on the navy industry has halted naval vessel manufacturing owing to decreased demand for marine ships, as well as trade activity.
The COVID-19 impact will cause the expected delivery of ship components, parts, and systems installed in navy vessels to be delayed, stifling market growth.
Unmanned Submarine Vehicles are used in the marine to perform tasks such as mining discovery, coastal surveys, fish behavior monitoring, etc.
These UV rays are rapidly evolving as more and more troops and other organizations show interest.
The Compact size of the UUV.
Market opportunity for sonar systems to change and grow at the same time.
Submarine warfare necessitates the employment of numerous sensors and weapon technology.
Employees that use this technology must receive extensive training in order to gain the necessary skills.
Finding is typically followed by dividing, locating, and targeted submarine tracking, with end-users receiving intensive and complicated training.
THE IMPACT OF COVID-19
COVID-19 has led to several challenges for overall industries. Maritime industry is no exception to that. the budget allotted to the defense sector has been reduced by several countries, Because of COVID-19 outbreak. This puts most of the research projects put on hold. As well as, the export of commercial vessels and military to several countries in Middle East, Africa, and Latin America has also been reduced. the development of the sonar system affects by all these scenarios.
Impact of Ukraine and Russia Crisis.
This market's growth may be linked to an increase in marine trade, advancements in the offshore energy industry, and fisheries. As a result of overfishing, the commercial sonar sector in fisheries is expanding rapidly to find fish breeding ocean environments. The hydrographic sonar sector is expanding as a result of increased oil and gas exploration and dredging activities. New ship orders and upgrades boost the military sonar industry.
Ships such as destroyers and frigates are equipped with sonar-mounted towers. The submarine ports included are intercept array, cylindrical array, flank array, and sonar drag system. Mining hunting vessels are equipped with advanced systems, such as the Synthetic Aperture Sonar (SAS) and others. The increase in threats to harbors from unknown divers has led to an increase in the use of sonars that find variety to detect and detect threats in surrounding waters.
Based on the type of product, the market is divided into sonar-mounted sonar, pull sonar, sonobuoys, dipping sonar, and driver acquisition sonar.
Based on the installation, the market is divided into rolling, airplane, tug-of-war, UUV, hand-held and pillar, and more.
Based on the Type, the market is divided into multiple beams, side scans, single beams, and synthetic aperture.
Based on the Application, the market is divided into military, hydrographic charting, oil and marine gas, port and port management, coastal engineering and more. Hydrographic charting currently represents the largest application.
Based on the Material, the market is divided into piezoelectric ceramics, piezoelectric single crystals, magneto restrictive materials, and more.
KEY MARKET PLAYER:
Major players in the defense sonar system market include Thales Group, ATLAS ELEKTRONIK GmbH, Raytheon Company, Lockheed Martin, L-3 Technologies Inc., and Ultra Electronics. Major players in the hydrographic sonar market include Kongsberg Gruppen ASA, Teledyne Technologies Inc., and Sonardyne. Navigation and fisheries sonars are provided by Furuno Electric Co Ltd., Japan Radio Company, Navico, and FLIR Systems. The report covers various industry trends and new technological innovations in the sonar system market for the period,2022-2028.
KEY MARKET SEGMENT:
Mine Detection & Countermeasure Systems
Search & Rescue
Seabed Terrain Investigation
Unmanned Underwater Vehicles (UUVs)
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 6.31 Billion|
|Market Size by 2030||US$ 7.34 Billion|
|CAGR||CAGR of 1.9% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Application
• By Platform (Commercial vessels, Defence vessels, Unmanned Underwater Vehicles, Aircrafts, and Ports)
• By Type
• By Material
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Thales Group, ATLAS ELEKTRONIK GmbH, Raytheon Company, Lockheed Martin, L-3 Technologies Inc., and Ultra Electronics. Major players in the hydrographic sonar market include Kongsberg Gruppen ASA, Teledyne Technologies Inc., and Sonardyne. Navigation and fisheries sonars are provided by Furuno Electric Co Ltd., Japan Radio Company, Navico, and FLIR Systems.|
|DRIVERS||• The stable growth drive the market for sonar systems.
• The navy uses a number of highly developed sonar systems to achieve the highest level of accuracy.
• In warships, Sonar systems are used for a number of applications
|RESTRAINTS||• The high cost of sonar development is a major impediment to market expansion.
• The system's expensive installation and maintenance costs limit market expansion.
• The immediate impact of the COVID-19 epidemic on the navy industry has halted naval vessel manufacturing owing to decreased demand for marine ships, as well as trade activity.
Frequently Asked Questions (FAQ) :
According to SNS insiders, the Sonar Systems Market size was USD 6.2 billion in 2021 and is expected to reach USD 6.8 billion by 2028 with a CAGR of 1.9% over the forecasted period.
Finding is typically followed by dividing, locating, and targeted submarine tracking, with end users receiving intensive and complicated training.Submarine warfare necessitates the employment of numerous sensors and weapon technology.
North America, Asia-Pacific, The Middle East & Africa, Latin America, Europe are the major five region covered in this report.
The navy uses a number of highly developed sonar systems to achieve the highest level of accuracy.In warships, Sonar systems are used for a number of applications
Yes, this report cover top down , bottom up Quantitative Research. Qualitative Research, Fundamental Research, data triangulation, ID’s & FGD’s Analytical research, And other as per report requirement.
Table of Contents:
1.1 Market Definition
1.2 Market Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Sonar Systems Market, By Application
8.1 Anti-submarine Warfare
8.2 Port Security
8.3 Mine Detection & Countermeasure Systems
8.4 Search & Rescue
8.6 Diver Detection
8.7 Seabed Terrain Investigation
9. Sonar Systems Market, By Platform
9.1 Commercial Vessels
9.2 Defence Vessels
9.3 Unmanned Underwater Vehicles (UUVs)
10. Sonar Systems Market, By Product
10.1 Hull-mounted Sonar
10.2 Stern-mounted Sonar
10.3 Dipping Sonar
11. Sonar Systems Market, By Installation
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 HITACHI LTD.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 AB VOLVO
13.3 CATTERPILLAR INC.
13.4 CNH INDUSTRIAL N.V
13.5 DEERE AND COMPANY
13.6 DOOSAN INFRACOE CO.LTD
13.7 J C BAMFORD EXCAVATORS. LTD.
13.8 KOMATSU LTD.
13.9 Liebherr-international AG
13.10 XCMG GROUP
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.
Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but is not limited to getting rid of the many typos, duplication of numbers, or missing any important information. The people involved in this process include technical content writers, research heads, and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.