PUNE, India, November 13, 2015 /PRNewswire/ --
The report "Sonobuoy Market by Technology (BT, SAR, DICASS, DLC, DIFAR, LOFAR, EER, ADAR, VLAD), Function (Active, Passive, Special Purpose), By Application (Defense, Commercial), Size (A, B, C), Deployment (Spring, Pneumatic, Free Fall, Cartridge) & Geography - Global Trends and Forecasts to 2020", published by MarketsandMarkets, The Sonobuoy Market is estimated to be valued at USD 226.11 Million in 2015 and is projected to reach USD 316.59 Million by 2020, at a CAGR of 6.96% during the forecast period from 2015 to 2020.
Browse more than 132 market data Tables with 158 Figures spread through 208 Pages and in-depth TOC on "Sonobuoy Market".
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The market report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Asia-Pacific, Europe, Latin America, the Middle East, and Africa.
The sonobuoy market is projected to reach USD 316.59 Million by 2020. A number of factors, such as the increasing focus by countries on strengthening their Anti-Submarine Warfare (ASW) capabilities and increase in the efficiency of sonobuoys due to various technological advancements are expected to drive the growth of the sonobuoy market.
Passive sonobuoys to dominate the sonobuoy market, segmented based on function.
This segment dominates the studied market, and is expected to continue its dominance over the next 5 years, primarily driven by the high demand for passive sonobuoys which are more effective in detection due to their ability to prevent the detection of a tracking aircraft by a submarine.
Defense application is expected to grow the highest during the forecast period.
The global sonobuoy market has been segmented and analyzed in terms of two key application segments, namely, defense and civil. The defense segment dominates the overall market, and is expected to exhibit a similar trend during the next 5 years. It is expected to be mainly driven by the increasing spending by countries towards strengthening their anti-submarine warfare capabilities.
The sonobuoy market is expected to witness the highest growth in the Asia-Pacific.
This growth can be attributed to the increasing defense budget in the region and the China Sea dispute which pertains to a dispute over territory and sovereignty over ocean areas among countries such as China, Brunei, Philippines, and Malaysia.
Ultra Electronics (U.K.): The top player in the sonobuoy market
The report classifies the Sonobuoy Market into six major segments, namely, the Platform segment, which has been further categorized into Active, Passive, & Special Purpose; the Technology segment, which has been further categorized into Bathythermo Buoy, Search & Rescue Buoy, Directional Command Activated, Data Link Communications, Directional Frequency Analysis and Recording, Low Frequency Analysis and Recording, Extended Echo Ranging, Air Deployable Active Receiver, and Vertical Line Array Directional Frequency Analysis and Recording; the Application segment, which has been further categorized into Defense and Commercial; the Size segment, which has been further categorized into A,B,C, and Others; by the Deployment segment, which has been further categorized into Spring, Pneumatic, Free-fall, and Cartridge; and the Range segment which has been further categorized into short and long range sonobuoys.
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The major players in this market have been identified to be Ultra Electronics (U.K.) and Sparton Corporation (U.S.).
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