Sonar System Market size is expected to be valued at USD 6253.2 million in 2022 which is expected to grow at a CAGR of 2.1% over 2022-2028. Sonar systems are ranging and navigation techniques in which sound waves are used for navigation and detection of obstacles. This technology is primarily used in the marine region mainly because sound waves travel faster than light. It is helpful for exploring, communicating, and mapping oceans. Apart from this, the sonar system is useful in the military and commercial segments. The increasing demand for sonar systems to improve the anti-submarine conflict abilities of marine militaries across the world can lead to the growth of the global sonar system market insights. Moreover, the increasing demand for sonar systems in the fishery industry and the increasing use of sonobuoy growing use of sonobuoy in strategic defense programs are some primary factors that can boost the global sonar system market insight. Apart from these, increasing demand for better-resolution imaging for seabed mapping can also accelerate the market in the future. However, some factors such as the investment of a huge sum of money for the development of sonar infrastructure and techniques, and the high cost of installation and maintenance cost can restrain the growth of the market. Apart from this, detrimental effects on marine life due to the sonar system can hinder market growth. The growing rate of adoption of unmanned underwater vehicles (UUVs) can create an opportunity for the growth of the global sonar system market insight. These vehicles are re useful in marine sectors for various tasks such as seabed topology investigation, mine detection, observation of fish behavior, etc. the sonar system used in UUVs is compact in size and technologically advanced which can effectively function in distant locations. Thus, the sonar system market can have a lucrative opportunity.
Recent Market Developments:
In May 2021, OEM and system integrators developed new Echoscope PIPE Real-Time XYZ series sonar to let integration of our different real-time volumetric imaging sonars.
In February 2021, French Defence Procurement Agency (DGA) signed a contract with Thales Group to obtain a next-generation SONAR suite for the French navy’s nuclear-powered ballistic-missile submarines (SSBNS)