Sonar is an acronym for sound navigation and ranging. It is a method used for navigation, communication and object detection. Passive and active are two major types of sonar systems available within market. Global sonar market is anticipated to grow having an impressive CAGR throughout the forecast period, owing to technological advancement in sonar technology and increasing demand within defense industry. However, growing awareness regarding the effect of sonar on marine life might hinder the market growth. Hiking defense expenditure among developing nations and evolving unmanned vehicles would provide lucrative opportunities for the market. Market is having stiff competition with few leading vendors accounting for a significant market share. Extensive R&D is one of the prime strategies adopted by the key vendors to improve their market share and establish a strong foothold within the market. Asia-Pacific region is expected to lead the sonar market in the upcoming years as a result of increased defense spending by countries such as India and China. For an instance, India has substantially increased its defense budget by 6.75% to 7.5% in 2017.
Sonar System Market Research Objective
• To define the scope and simplify the research study based on product type, installation, mode of operation, application, and region.
• Estimate the current market size and forecast the same for the period (2017-2024).
• Market share by revenue for each segment and region analyzed.
• To provide insights on the major market dynamics (drivers, restraints & opportunities) and their impact analysis for the forecast period.
• Micro and macro level analysis of the market to elucidate lucrative investment opportunities.
• Porter’s five forces analysis to deliver a comprehensive buyer-seller scenario and the state of business environment.
• Identification of the sonar system market trends in current scenario and its growth indicators.
• Benchmarking leading vendors in the sonar system industry based on their strategic attempts, financial status, and other internal and external parameters.
Sonar System Market Segmentation
By Product Type
• General-Purpose Hull Mounted Sonar
• Seabed Imaging and Information Sonar
• Stern Mounted Sonar
• Dipping Sonar
• Vessel Mount
• Hand-Held and Pole Mounted
By Mode Operation
• Commercial Active
• Military Dual Mode
• Military Passive
Sonar System Market By Region
• North America
• Asia-Pacific (APAC)
• Rest of the World
- For this specific report, we offer 20% of free customization in order to deliver a tailored research report that specifically covers areas of client’s interest in the sonar system market. Following are some most desired customization offers on this report:
- Split of the regional market into specific countries as per client’s research requirements.
- Further breakdown of the major segments into sub-segments (as per request).
- Vendor Profile Customization
- Further exhaustive analysis of additional companies operating in the market as per request.
- Research report on sonar system market covering specific country/region only.
- Requests for data tables only (specific requirement to quantitative research).