Increasing focus on developing robust anti-submarine warfare capability and fleet expansion driving sonar system market

Date: 1 February 2020

According to a research report published by Azoth Analytics in January 2020, the Global Sonar System Market was valued at USD 2714.6 Million in the year 2018. Factors such as increasing focus on developing robust anti-submarine warfare (ASW) capability and fleet expansion initiatives led by emerging economies such as India and Pakistan in the Asia-Pacific region are expected to enhance the demand for sonar system during the forecast period.

Global Sonar System market has gained importance as increasing oil consumption requirement influences the exploration of offshore oilfields using digital technologies like sonars, robots and drones, etc. Moreover, enhancement in defence funding globally by the government to ensure the safety and security of the naval forces from the underwater threats and conflicts will generate the robust demand for sonar system during the forecast period.

Leading Sonar System manufacturers are focusing on the development of more advanced technology products. For example, Teledyne BlueView is a worldwide leader in 2D imaging and 3D scanning sonar technology. The company’s advanced sonar systems are currently deployed on AUVs, ROVs, surface vessels, fixed positions, portable platforms, and have been adopted by leading manufacturers and service providers to support mission-critical operations. Additionally, Sea in partnership with IXblue delivered SeaDrix system for long endurance surveillance patrols.

According to the Azoth Analytics Research Report Global Sonar System Market (2020 Edition) -Opportunities and Forecast (2019-2024) ,  Asia Pacific currently leads the Sonar System market owing to considerable investments planned in defence sector as well as growing focus on enhancement in oilwell drilling activities that requires sonar system. Moreover, growing acquisitions and collaborations by the foreign companies to invest in anti-submarine warfare and mine detection warfare equipment in the developing countries is further pushing the growth of sonar system market in the region. Additionally, Europe follows the Asia Pacific region in Sonar System market as the region has the strong presence in the building of submarine sand other naval vessels.

Based on End-User segment, Defence sector dominates the market share during historical period and is also expected to show dominance during the forecast period owing to rising initiatives by the regional government’s on providing more and better security measures to ensure the safety of lives.