Sonar System Market Forecasts to 2030 - Global Analysis By Product Type (Sonobuoy, Hull-Mounted, Stern-Mounted, Dipping and Other Product Types), Platform, Solution, Application, End User and By Geography

According to Stratistics MRC, the Global Sonar System Market is accounted for $6.3 billion in 2023 and is expected to reach $8.2 billion by 2030 growing at a CAGR of 3.8% during the forecast period. A sonar system, short for Sound Navigation and Ranging, is a technology used to detect, locate, and measure the distance to underwater objects or surfaces by transmitting sound waves and analyzing their reflections. It works on the principle of sending out sound pulses into the water, which bounce off objects and return as echoes. By analyzing the time it takes for the echoes to return and the characteristics of those echoes, such as their amplitude and frequency, the sonar system can determine the distance, size, shape, and even composition of underwater objects.

According to Stockholm International Peace Research Institute, in 2021, global military expenditure increased by 0.7% higher than 2020 and 12% higher than 2012.

Market Dynamics:

Driver:

Growing industry of commercial shipping

With increasing global trade and the expansion of offshore industries such as oil and gas, renewable energy, and deep-sea mining, demand for advanced sonar systems is escalating. These systems offer enhanced vessel positioning, underwater mapping, and threat detection capabilities, thus improving operational efficiency and safety standards. Moreover, the advent of autonomous vessels and underwater drones further propels the need for sophisticated sonar solutions. As maritime activities continue to surge, the commercial shipping sector is poised to remain a significant driver of growth in the market.

Restraint:

Complexity of technology

The market exhibits intricate technological complexity, with advanced signal processing algorithms, sophisticated transducer designs, and integration of AI-driven analytics. These systems often incorporate multifaceted sensor arrays, employing various frequencies and modes for underwater exploration, navigation, and detection tasks. Additionally, emerging trends like autonomous operation and underwater communication further add layers of complexity, demanding robust engineering solutions to meet diverse maritime needs while ensuring reliability and accuracy in challenging underwater environments.

Opportunity:

Increasing worries about maritime security

As maritime activities expand, there's a pressing need for advanced sonar technologies to enhance detection capabilities, mitigate risks, and ensure the safety of naval vessels, commercial ships, and coastal infrastructures. This heightened awareness underscores the critical role that sonar systems play in safeguarding maritime domains against emerging security challenges, driving demand for innovative solutions and strategic investments in the sector.

Threat:

Exposure to electronic counterattacks

As adversaries deploy sophisticated electronic warfare techniques, including jamming and spoofing, the reliability and effectiveness of sonar systems are compromised. This threat landscape necessitates constant innovation in defensive strategies, such as encryption and frequency agility, to mitigate the risks of electronic interference. The market faces increasing vulnerability to electronic counterattacks, posing significant challenges to its operational integrity.

Covid-19 Impact:

The COVID-19 pandemic significantly impacted the Sonar System market. Initially, disruptions in manufacturing and supply chains led to delays in production and delivery of sonar equipment. Furthermore, restrictions on travel and gatherings hindered installation and maintenance services. However, the pandemic also increased the demand for unmanned underwater vehicles (UUVs) equipped with sonar for surveillance and monitoring purposes. As a result, while facing challenges, the market witnessed a shift towards remote-operated and autonomous systems, fostering innovation and adaptation within the industry.

The submarines segment is expected to be the largest during the forecast period

The submarines segment is expected to be the largest during the forecast period. Submarines represent a significant segment within this market, driving innovation and demand for enhanced sonar capabilities. Their integration with advanced sonar systems enables precise navigation, detection, and communication underwater, catering to both military and commercial sectors. As nations invest in modernizing their naval fleets, submarines equipped with state-of-the-art sonar systems remain indispensable assets, ensuring effective underwater surveillance and defense strategies.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is expected to have the highest CAGR during the forecast period. Experience unparalleled underwater detection capabilities with our state-of-the-art Sonar Systems. Designed for precision and reliability, our systems offer advanced imaging and target identification for marine exploration, defense operations, and underwater research. With cutting-edge technology and unparalleled performance, our Sonar Systems deliver unmatched results in even the most challenging environments. Trust us to provide the solutions you need for efficient underwater navigation and detection.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by advancements in underwater technology and increasing demand across various sectors including defense, maritime security, and oil & gas exploration. With a focus on innovation and robust investments in research and development, key players are expanding their product portfolios to offer enhanced capabilities in detection, imaging, and navigation. This trend is expected to fuel further expansion and competitiveness within the region's Sonar System market.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period fueled by the need for underwater surveillance, anti-submarine warfare, maritime border security, and commercial applications such as fisheries and offshore oil and gas exploration. Several companies, both domestic and international, were actively involved in the production and supply of sonar systems in the region. These companies ranged from large defense contractors to specialized technology firms focusing on underwater acoustic solutions.

Key players in the market

Some of the key players in Sonar System market include EdgeTech, Raytheon Technologies Corporation, Japan Radio Co., Teledyne Technologies Incorporated., Lockheed Martin Corporation, L3Harris Technologies, Inc., Atlas Elektronik, Thales Group, Kongsberg Gruppen ASA, Navico, Aselsan, Hanwha Systems, Sonardyne, General Dynamics and Furuno Electric Co., Ltd.

Key Developments:

In July 2023, Thales signed a contract with the French defense procurement agency (DGA) to develop a new sonar suite for France's third-generation nuclear-powered ballistic-missile submarines (SNLE 3G) and the programme to modernize its second-generation submarines (SNLE 2G).

In September 2022, Furuno Electric Co., Ltd. launched a New FLEX Function Display SFD-1010/1012, which has 10" and 12" display and control units with a wide range of Furuno sensors from DRS4DL+ Radar to DFF-3D Multibeam Sonar or Fish Finders.

Product Types Covered:

• Sonobuoy
• Hull-Mounted
• Stern-Mounted
• Dipping
• Other Product Types

Platforms Covered:

• Unmanned Underwater Vehicles
• Aircraft
• Surface Ships
• Submarines
• Commercial Vessels
• Other Platforms

Solutions Covered:

• Hardware
• Software

Applications Covered:

• Navigation
• Diver Detection
• Search & Rescue
• Port Security
• Anti-submarine Warfare
• Other Applications

End Users Covered:

• Defense and Military
• Commercial
• Fisheries and Aquaculture
• Oil and Gas
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances