PUBLISHER: Grand View Research | PRODUCT CODE: 1530175
PUBLISHER: Grand View Research | PRODUCT CODE: 1530175
SONAR System Market Size & Trends
The global SONAR system market size was estimated at USD 4.16 billion in 2023 and is projected to grow at a CAGR of 6.5% from 2024 to 2030. The growth of the SONAR systems is attributed to the increasing national security and defense across the globe. SONAR systems enhance a country's ability to monitor and secure its coastal waters and strategic maritime routes. Hence, navies and maritime forces rely on SONAR technology to detect submarines, mines, and underwater threats. Many nations prioritize the modernization of their naval fleets, investing in advanced SONAR systems for improved underwater surveillance and threat detection. This trend is particularly strong in countries with extensive coastlines and strategic maritime interests, such as the U.S., China, and India. Enhanced detection capabilities of modern SONAR systems are essential for maintaining national security and ensuring maritime dominance.
Countries across the globe are increasingly investing in SONAR technology to bolster their naval capabilities, protect their coastlines, and monitor maritime traffic, thereby enhancing their security posture. Consequently, defense budgets are increasingly allocated toward developing and procuring sophisticated SONAR technology. Furthermore, the rise of offshore industries such as oil & gas exploration and renewable energy projects has led to an increased reliance on SONAR for underwater mapping, inspection, and maintenance. As a result, the growing need for maritime security and surveillance has fueled the demand for SONAR systems.
Marine exploration and scientific research represent additional driving forces in the SONAR system market. Researchers and oceanographers utilize SONAR systems to study marine biodiversity, map underwater topography, and monitor environmental changes. The growing interest in understanding and preserving marine ecosystems has led to increased funding for oceanographic research and exploration missions. High-resolution SONAR systems provide valuable data that aids in the conservation of aquatic life and the sustainable management of ocean resources. As environmental awareness and scientific curiosity continue to grow, the demand for advanced SONAR systems in the scientific community is expected to rise.
Technological advancements in SONAR systems, including improved sensor technology, data processing capabilities, and the integration of artificial intelligence, are making these systems more versatile and efficient. As a result, SONAR systems are finding applications beyond traditional maritime and defense sectors, such as underwater archaeology, underwater robotics, and autonomous underwater vehicles. For instance, in November 2022, DRDO (Defense Research and Development Organization), an Indian agency under the Department of Defense Research and Development in the Ministry of Defense of the Government of India, launched the SONAR systems evaluation and test facility named Hull Module of Submersible Platform for Acoustic Characterization and Evaluation (SPACE) for Indian Navy.
The commercial shipping and fishing industries contribute to the market's growth by adopting SONAR technology for various applications. Commercial vessels use SONAR for navigation, collision avoidance, and locating fish stocks, improving the efficiency and safety of their operations. The fishing industry, in particular, benefits from SONAR systems that help identify and track fish populations, leading to more sustainable fishing practices. As these industries seek to optimize their operations and comply with stricter environmental regulations, the adoption of advanced SONAR technology is becoming increasingly essential. This trend highlights the diverse applications of SONAR systems beyond defense, underscoring their importance in various maritime activities.
Global SONAR System Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global SONAR system market report based on product, platform, application and region.
U.S.
Canada
Mexico
UK
Germany
France
China
India
Japan
South Korea
Australia
Brazil
Kingdom of Saudi Arabia (KSA)
UAE
South Africa