Expert Market Research’s new report titled “Sonobuoy Market Report and Forecast 2021-2026”, gives an in-depth analysis of the global Sonobuoy market, assessing the market based on its segments such as function, product size, range, installation. type, applications and major regions which include North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 6.5%
The growth of the market can be attributed to the robust growth of the shipping industry globally. The growing demand for sonobuoys can be attributed to the growing consumer demands. Several technological innovations have led to the development of the market, including the use of sophisticated sensing, range and direction capabilities. Rising security spending and growing use of underground vehicles are expected to further drive demand. Rising defense spending by developed countries, such as the United States of America and Europe, is expected to further drive the market growth.
Industry definition and major segments
Sonobuoy refers to a portable SONAR (SONAR NAvigation and Ranging) device. Sonobuoy helps detect submarines and perform underwater searches when dropped from an aircraft or ship. It depends on sound waves to detect/locate objects in a specific area.
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Based on function, the industry can be segmented as follows:
- special purpose
Based on size, the market can be split as follows:
- Size A
- Size B
- Size C
Based on product line, the market can be split as follows:
The market, on the basis of installation type, can be segmented as follows:
- Free fall
By Application, the market is segmented into:
- Detection and tracking
- Safety and Security
- oil and gas
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Based on regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
4 Latin America
5 Middle East and Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Sonobuoys are acoustic detection instruments that are launched to detect underwater sound signals from aircraft or ships in the ocean. Early detection of enemy submarines can help deter future assaults and loss of resources. These factors are pushing the deployment of sonobuoys by naval forces around the world, thus driving the growth of the global demand for sonobuoys. As oil and gas are important resources, several governments are making substantial investments in the construction of sonobuoys to locate sand domes and seeps, resulting in the growth in demand for sonobuoys. However, market growth might be limited by the implementation of government regulations limiting the presence of sonobuoys where a high density of marine life is present.
Main market players
The major market players are Sparton Corporation, Thales Group, Radixon Group, and Ultra Electronics Limited, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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