Sonar System Market Size, Share & Industry Analysis, By Product Type (DDS, Hull Mounted, Son buoy, Stern Mounted), By Component (Transmitter, Receiver, Hydrophone, Beam Forming Processor), By Platform (Airborne, Ship), By End-User (Retrofit, Line fit), By Application (Military Operations, Commercial) and Regional Forecast, 2019-2026
The globalsonar systemmarket is projected to gain impetus from the increasing usage of technologically advanced marine systems. This information is published in an upcoming report by Fortune Business Insights™, titled, “Sonar System Market Size, Share and Industry Analysis, By Product Type (DDS, Hull Mounted, Son buoy, Stern Mounted), By Component (Transmitter, Receiver, Hydrophone, Beam Forming Processor), By Platform (Airborne, Ship), By End-User (Retrofit, Line fit), By Application (Military Operations, Commercial) and Regional Forecast, 2019-2026.”
As per the report, modern mine countermeasure (MCM) vessels require sonar to capture depth in small objects.
Hence, the rising demand for MCM systems from the marine sector is likely to boost the sonar system market growth during the forecast period. Additionally, increasing demand for unmanned underwater vehicles and autonomous underwater vehicles would also contribute to market growth.
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Fortune Business Insights™ profiles some of the most prominent companies operating in the sonar system market. They are as follows:
Highlights of the Report
Beamforming Processor Segment to Lead Fueled by Rising Technological Advancements
In terms of component, the market is fragmented into hydrophone, receiver, transmitter, beamforming processor, and others. Amongst these, at present, the beamforming processor segment is leading the market stoked by the ongoing technological advancement in passive and active sonar. Besides, the high demand for multibeam sonar systems worldwide is also driving the growth of this segment. It is a unique signal processing technique that is used for signal reception and signal transmission processes in the sensor array.
Upgradation of Old Naval Fleets to Propel Market in Asia Pacific
Asia Pacific, on the other hand, is anticipated to showcase a considerable growth on account of the upsurging of the helicopter sonar system sector. The domestic naval vessel production in China is projected to affect the growth of the market in this region positively. Additionally, the country is increasing its maritime expenditure and domestic ship production. Apart from that, in India, aging naval fleets are being replaced with technologically advanced systems. It would also augment growth in this region.
Geographically, the market is divided into South America, North America, the Middle East and Africa, Asia Pacific, and Europe. Out of these, North America is expected to dominate by gaining the maximum sonar system market revenue in the coming years. It is likely to occur owing to the early adoption of innovative technologies, such as increasing the range of sound waves. The U.S. is set to exhibit a remarkable growth backed by the rising number of submarines and naval vessels present in the country. Canada is also developing its self-Indigenous marine sector, which, in turn, would propel the market in this region.
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This Research Report Provides Features Like;
Reputed Companies Focus on Strengthening Position by Gaining Orders
The market consists of numerous small, medium, and large enterprises. They are aiming to receive gigantic orders from other renowned private and government organizations. It would help them in gaining more sonar system market share and creating a robust position in the market. Below are two of the latest key industry developments:
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit COVID-19 Impact on Sonar System Market in 2020 – Know the Forecast Demand till 2026