Sonobuoy Market Growing at 6.96% CAGR Driven by Defense to 2020

Nov 19, 2015, 21:00 ET from ReportsnReports

PUNE, India, November 20, 2015 /PRNewswire/ -- adds 2015 sonobuoy market research that highlights Defense application segment of sonobuoys to witness the highest growth during the forecast period with APAC offering significant opportunities, geographically.

Complete report on sonobuoy market spread across 208 pages, profiling 8 leading companies and supported with 132 tables and 158 figures is now available at .

According to the projections in this report, the sonobuoy market has been 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.Factors that drive the global sonobuoy market include the increased focus by countries on strengthening their anti-submarine warfare capabilities, increase in efficiency of sonobuoys due to various technological advancements, and rise in maritime disputes in Asia-Pacific.

Defense application segment to witness the highest growth during the forecast period 

The key applications considered for the market study are defense and civil, wherein the overall sonobuoy market is dominated by the defense segment. This segment is projected to grow at a comparatively higher CAGR during the forecast period of 2015 to 2020, primarily driven by the high demand for sonobuoys which form an integral part of anti-submarine warfare (ASW) which is a key area of importance due to the increasing maritime disputes and the development of stealthier submarines.

The Asia-Pacific region to offer significant opportunities for growth 

The APAC region is expected to exhibit the highest growth rate in the sonobuoy market, and is projected to growth a CAGR of ~8% during the forecast period from 2015 to 2020. The growth of the sonobuoy market in this region can be attributed to the rise in maritime disputes and increased government spending by countries, such as China to strengthen their anti-submarine warfare capabilities.

From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the sonobuoy market; high-growth regions; and market drivers, restraints, and opportunities. Sparton Corporation, Thales Group, Ultra Electronics Group, Sealandaire Technologies Inc., Radixon Group, Lone Star Electronics Co., General Dynamics Mission Systems and Sigma-Pi Power Sources Pvt Ltd. are the companies profiled in this sonobuoy research available for purchase at .

On a related note, another research titled Global Maritime Security Market 2015-2019 segments the maritime security industry into ISR systems, communication systems, and biometrics. The maritime security market is forecast to grow at a CAGR of 7.99% over the period 2014-2019. The report covers the Americas, APAC, and EMEA and covers landscape of the global maritime security market and its growth prospects in the coming years. AgustaWestland, FLIR Systems, Lockheed Martin, Northrop Grumman, Thales Group, AAI, BAE Systems, General Dynamics and Skybox Imaging are companies mentioned in this 68 pages report published in November 2015 and available at .

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