Sonobuoy Market Size to Reach USD 178.29 Million Globally by 2024 at 7 % CAGR | Technavio
NEW YORK, June 17, 2022 /PRNewswire/ -- Technavio categorizes the sonobuoy market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sonobuoy market during the forecast period. The sonobuoy market size is set to grow by USD 178.29 million from 2019 to 2024, progressing at a CAGR of 7% according to Technavio. To know the exact growth variance and the Y-O-Y growth rate - Request a sample report.
Our sonobuoy market report covers the following areas:
The sonobuoy market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.ALCEN, General Dynamics Corp., RADIXON Group Pty. Ltd., Rostec State Corp., SeaLandAire Technologies Inc., Sociedad Anonima de Electronica Submarina, Sparton Corp., Tata Power SED, Thales Group, and Ultra Electronics Holdings Plc. are some of the major market participants.
- General Dynamics Corp. - The system helps acoustic sensor operators detect, localize, and classify nuclear and diesel foreign submarines all around the world. The system supports NATO Standard 99 sonobuoy RF channel allocation and a broad range of passive and active sonobuoy manufacturer types.
- Drivers: The key factor driving growth in the sonobuoy market is the growing demand for strengthening ASW capabilities. Anti-submarines are marine systems that are operated via surface warships, aircraft, or submarines. Such technologies are developed to track, locate, and destroy hostile and potential pirate submarines underwater. ASW is critical to protecting the strategic speed and operational agility of joint and coalition forces across the sea. Modern ASW is complex in terms of application with multitudes of disparate sensors and platforms ranging from aircraft to sonobuoys to other submarines.
- Trends: The introduction of new software for communication is a sonobuoy market trend that is expected to have a positive impact in the coming years. Upgraded performance software is now being integrated into aircraft for better network connectivity, which, in turn, will enhance the overall communication and navigation capabilities
- Challenges: The effects on marine life will be a major challenge for the sonobuoy market during the forecast period. Governments of various countries have laid down certain regulations for the deployment of sonobuoys. These regulations are set to limit the use of sonobuoys in areas where marine life exists, and this is expected to act as a restraint for the global sonobuoy market. Marine mammals like beaked and blue whales are most sensitive to mid-frequency active sonobuoy and sonar noise.
- End-user
- Defense
- Commercial
- Special Purpose
- Geography
- North America
- APAC
- Europe
- South America
- MEA
To know about the market contribution of each segment - Grab a sample report now!
Get ready to achieve excellent business outcomes from this exclusive Sonobuoy Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Sonobuoy Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Sonobuoy Market Forecast Report - Buy Now!
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Sonobuoy Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2019 |
Forecast period | 2020-2024 |
Growth momentum & CAGR | Accelerate at a CAGR of 7% |
Market growth 2020-2024 | USD 178.29 million |
Market structure | Concentrated |
YoY growth (%) | 6.85 |
Performing market contribution | North America at 44% |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | ALCEN, General Dynamics Corp., RADIXON Group Pty. Ltd., Rostec State Corp., SeaLandAire Technologies Inc., Sociedad Anonima de Electronica Submarina, Sparton Corp., Tata Power SED, Thales Group, and and Ultra Electronics Holdings Plc. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
- Market segments
- Comparison by End user
- Defense - Market size and forecast 2019-2024
- Commercial - Market size and forecast 2019-2024
- Special purpose - Market size and forecast 2019-2024
- Market opportunity by End user
- Market segments
- Comparison by Function
- Passive - Market size and forecast 2019-2024
- Active - Market size and forecast 2019-2024
- Market opportunity by Function
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume driver - Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ALCEN
- General Dynamics Corp.
- RADIXON Group Pty. Ltd.
- Rostec State Corp.
- SeaLandAire Technologies Inc.
- Sociedad Anonima de Electronica Submarina
- Sparton Corp.
- Tata Power SED
- Thales Group
- Ultra Electronics Holdings Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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SOURCE Technavio
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