The Business Research Company’s Sonar Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, June 20, 2022 /EINPresswire.com/ — According to ‘Sonar Systems Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the sonar systems market size is expected to grow from $3.37 billion in 2021 to $3.52 billion in 2022 at a compound annual growth rate (CAGR) of 4.52%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. As per TBRC’s sonar systems market outlook the market size is expected to reach $4.46 billion in 2026 at a CAGR of 6.05%. The rising number of terrorist attacks is significantly contributing to the sonar systems market growth.
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The sonar systems market consists of sales of sonar systems by entities (organizations, sole traders, and partnerships) that refer to the systems based on the SONAR (Sound Navigation and Ranging) technology. Sonar is a technique in which sound waves are propagated at a certain frequency for mapping distance and objects especially in marine navigation since sound waves can travel a longer distance in the water than radar and light waves. Sound waves emitted or reflected by an object are detected by sonar apparatus and analyze information to develop nautical charts, locate underwater hazards, map objects on the seafloor such as shipwrecks, and map the seafloor itself.
Global Sonar Systems Market Trends
Technological advancement in sonar systems is a key trend in the sonar systems market. Companies are increasingly innovating to produce technologically-advanced sonar systems for military and warfare.
Global Sonar Systems Market Segments
The global sonar systems market is segmented:
By Product: Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, Sonobuoy
By Installation: Fixed, Deployable
By Acoustic Frequency: Ultrasonic, Infrasonic
By Application: Anti-Submarine Warfare, Port Security, Mine Detection and Countermeasure Systems, Search and Rescue, Navigation, Diver Detection, Seabed Terrain Investigation, Scientific
By Geography: The global sonar systems market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
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Sonar Systems Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides sonar systems market overviews, sonar systems market analysis and forecasts market size and growth for the global sonar systems market, sonar systems market share, sonar systems market segments and geographies, sonar systems market players, sonar systems market leading competitor revenues, profiles and market shares. The sonar systems market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Sonar Systems Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: Ultra Electronics, Thales Group, NAVICO, L3Harris Technologies Inc., ATLAS ELEKTRONIK, Kongsberg Gruppen, Lockheed Martin, Teledyne Technologies Incorporated, Sonardyne, Aselsan, FURUNO ELECTRIC CO. LTD, Japan Radio Co., DSIT Solutions Ltd, Northrop Grumman., and General Dynamics Mission Systems Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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About The Business Research Company
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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