Global Sonar System Market Outlook 2028
SONAR system is a device which uses technique of sound navigation ranging for visualization of underwater objects. There are different types of SONARs namely active SONAR, passive SONAR and dual SONAR which are used according to requirement in different underwater operations. The detection of object is based on the propagation of acoustic frequency of waves and distance between the target and the detector. SONAR systems are helpful in exploring the ocean as sound waves travel farther in the water. Scientists, with the help of SONARs, generate nautical charts, locate underwater hazards, and also map objects that are present on the seafloor including shipwrecks. The commercial SONAR market in fisheries is experiencing high growth rate on account of localizing fish breeding in ocean water and excessive fishing which has resulted lower catches. The market for SONAR is also growing owing to increasing oil & gas exploration and dredging activities. Global SONAR system accounted for a market value of around USD 3,000 million in 2019 and is anticipated to touch around USD 4,200 million by 2028, at a CAGR of 3.90% over the forecast period of 2020-2028.
The global SONAR market consists of various categories that are segmented by type, acoustic frequency, installation, component, application and by region. The market is further segmented by component into receiver, transmitter, hydrophone, beamforming processor, transducer, synchronizers, cables, and others. The synchronizers segment accounted for the largest market share of around 25% in 2019 and is expected to grow at a significant rate in the coming years. The synchronizers help to pinpoint the location of ships and submarines for predictable data sampling. Transducers are used to detect and track the pulse sound used in SONAR system. The transducers are arranged in arrays to improve the directivity index, which contributes in noise reduction. Beamforming or spatial filtering is used to track down the directional signal transmission. A beamforming processor is used to break down the conventional beams in the vertical and azimuthal direction to get the exact coordinates of the target object.
Based on region, the global SONAR system market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America SONAR system market is expected to grow at a robust pace during the forecast period. For instance, the market of SONAR system in Canada is expected to spur during the forecast period owing to technological advancement in maritime defense, extensive offshore activities, and growing commercial activities including fishing.
Some of the prominent industry leaders in the global SONAR system market are: Ultra (Ultra Electronics), Thales Group, Raytheon Technologies Corporation, Neptune Sonar Ltd., Kongsberg Gruppen ASA, L3Harris Technologies, Inc., Mind Technology, Inc., General Dynamics Mission Systems, Inc., Teledyne Technologies Incorporated, Nisshinbo Holdings Inc., Lockheed Martin Corporation, SONARDYNE, and others.