The global airborne sonar market is expected to grow at a CAGR of 7% within the period of 2019-2029. There is significant rise in sonar technology over few years. High-resolution imaging, mapping of the ocean and its floor has been limited to less than 5% of the global waters due to technological restrictions. The aerial synthetic systems have provided to overcome the barrier by high resolution images of landscapes; however, they are unable to penetrate under water.
The airborne sonar market has a significant rise in application by naval forces from various regions to undertake marine activities, such as clearing the area by inspection, detecting the underwater environment and bodies. The airborne technology also has key application in commercial sector and scientific sector for conservation and research. There is a trend the market for the use of anti-submarine warfare (ASW) helicopter-borne by dipping sonar. Along with airborne there is increase in growth of sonobuoys and dipping sonars. The US naval forces are initiating efforts in research and innovation, error reduction, improving quality by use of technology.
Defense Sector Drives the Market
Navies around the world need to perform various marine activities ensuring accuracy and appropriate inventions. To inspect such activities, detect and track submarines, under water bodies' inspection, and so on. The air forces play a vital role in deployment of airborne sonar devices to carry out maritime activities. Detecting the submarines through aerial routes has more advantage over the other methods as it covers wide area for easy access and detection. There is wide application of these devices in war conditions by various regions. Various applications in scientific area consist of detection of temperature, dangerous threats of sea bed, under water inventions. The commercial area includes activities of findings of historical devices and monuments. The navies and air force are accounted for major applications of this technology across the globe. Such technologies are boon to the defence sector resulting in growth of navy and air force.
North America Dominates the Market
The technological advancement and innovation through airborne has developed across various regions. The North America, Europe and Asia Pacific are the major driver of the airborne market. The U.S. navy has spentover $20.14 billion in 2020on technology research and innovation. The North America is in lead for application of airborne technology. The Russia and Asia Pacific are the major regions for demand of this technology. The detection of under water bodies is mandatory as the technology is developing in carrying the nuclear weapons. The North Korea, Russia, China, India, United Kingdom, France and United States are developing on large scale for use of such technology. The application of this technology includes various sector and wide range of application.
COVID-19 effect on the market
The pandemic led the disturbance to the economy in various sectors and resulted in less revenue generation, sales and overall development. As the healthcare sector was booming the defense sector was not focused. The supply chain and manufacturing was lowered to stop the spread. The airborne sonar market is expected to grow in future as there is significant growth in demand for these devices.
Key players in this market include Atlas ElektronikGmbh, BAE Systems, Kongsberg Gruppen, Lockheed Martin Corporation, Raytheon Inc, Northrop Grumman Corporation, Thales Group, Ultra Electronics, Teledyne, Sonardyne, Atlas Elektronik, Furuno.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2029.
Key questions answered in this report
What are the key market segments in current scenario and in the future by product categories?
What are the key market segments in current scenario and in the future by regions?
What is the key impact of Covid-19 over market revenues and market determinants in the airborne sonar market?
What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
How to overcome the current market challenges and leverage the opportunities in each of the market segment?
Who are the key players in the airborne sonar market and what are their key product categories and strategies?
What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics 3.1 Introduction 3.1.1 Global Airborne Sonar Market Value, 2019 - 2029, (US$ Mn) 3.2 Key Trends Analysis 3.2.1 Defense sector drives the market 3.2.2 North America dominates the market 3.2.3 Covid-19 effect on the market 3.3 Market Dynamics 3.3.1 Market Drivers 18.104.22.168 Evolving Airborne Trend and Rise in Discretionary Income 22.214.171.124 Superiors Advantages of Using Airborne Sonar 126.96.36.199 Increasing use of Customized material as a Promotional Tool 3.3.2 Market Challenges 188.8.131.52 Limitations of Technique over other Methods 3.3.3 Impact Analysis of Drivers and Restraints 3.4 See-Saw Analysis 3.5 Attractive Investment Proposition 3.6 Competitive Landscape 3.6.1 Market Positioning of Key Airborne Sonar Vendors 3.6.2 Strategies Adopted by Airborne Sonar Vendors