The global sonobuoy market is predicted to touch USD 595.9 million at a 6.62% CAGR over the forecast period (2018-2023), according to the latest Market Research Future (MRFR) report. A sonobuoy, simply put, is a small buoy expendable sonar system which is ejected/dropped from ships or aircraft conducting underwater acoustic research or anti-submarine warfare. It has a wide range of application of which, it is most commonly used in oil & gas exploration and military applications.
Various factors are propelling the sonobuoy market growth. These factors, as stated by the MRFR report, include technological advancements, high efficiency of sonobuoys, rise in anti-submarine warfare, and rising maritime issues. Additional factors pushing market growth include a growing need for affordable ASW systems, increase in defense expenditure for SONAR systems, and expanding market for unmanned underwater vehicles.
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On the contrary, limited detection capacity in littoral zones and the impact on marine life are factors that may impede the sonobuoy market growth over the forecast period. Moreover, governments in various countries have laid down regulations with regards to deployment of sonobuoys. Such regulations are likely to restrict its use in places where marine life exists, which may deter the market growth.
Key Players
Leading players profiled in the Sonobuoy Market report include Sigma Pi-Power Sources Pvt. Ltd (India), Lone Star Electronics Co. (US), Sealandaire Technologies Inc. (US), Lockheed Martin Corporation (US), Thales Group (France), General Dynamics Corporation (US), Sparton (US), Ultra-Electronics Group (Australia), and Radixon (Australia), among others. Key players are collaborating with naval forces to offer enhanced product offerings suited for defense applications.
May 2019: Harris has launched its latest UAV-borne sonobuoy dispenser concept. This has been specially designed for the anti-submarine warfare aircraft and multirole maritime surveillance.
Key Developments
- In December 2018, Lockheed Martin signed a contract with ERAPSCO, Inc. to manufacture and supply advanced sonobuoys to the US Navy.
- In October 2018, General Dynamics Corporation-Canada, a subsidiary of General Dynamics Corporation, signed a contract to deliver a significant anti-submarine warfare (ASW) upgrade for the Royal Canadian Navy’s 12 Halifax-class frigates.
- In October 2018, Thales Group launched a sonobuoy called the SonoFlash, which combines a powerful emitter and a high-performance and low-frequency passive sensor.
- In August 2018, Sparton signed a contract with Ultra Electronics Group to deliver sonobuoys to the US Navy.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the sonobuoy market based on application, deployment, size, and type.
Based on type, the sonobuoy market is segmented into passive sonobuoy and active sonobuoy. Of these, the active sonobuoy segment will have the largest share in the market over the forecast period. It is predicted to touch USD 410.0 million. This is owing to its ability to detect submarines in attack mode or quiet diesel submarines.
Based on size, the sonobuoy market is segmented into size A, size B, and size C. Of these, the size A segment will dominate the market over the forecast period. It is predicted to reach USD 284.6 million. Such sonobuoys are capable of tracking very low-frequency sounds along with operating in deep and shallow waters.
Based on application, the sonobuoy market is segmented into oil and gas, safety and security, detection and tracking, and others. Of these, the detection and tracking segment will lead the market over the forecast period. It is predicted to touch USD 240.3 million at a 6.66% CAGR. The growing number of disputes related to undefined sea borders between Vietnam, the Philippines, Indonesia, Malaysia, and China is boosting the demand for sonobuoys to detect and track enemy submarines.
Based on deployment, the sonobuoy market is segmented into cartridge, free fall, spring, and pneumatic. Of these, the pneumatic segment will have the maximum share in the market over the forecast period. It is ideal for the deployment of a vast number of sonobuoys at definite intervals that is pushing the growth of this segment.
Regional Analysis
Based on the region, the sonobuoy market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East and Africa (MEA). Of these, North America will command the market over the forecast period. It is predicted to touch USD 191.0 million at a 6.74% CAGR.
The sonobuoy market in Europe is predicted to have the second-largest share in the market over the forecast period. This is on account of the presence of key market players in this region such as Ultra-Electronics Group and Thales Group. It is predicted to touch USD 595.9 million at a 6.62% CAGR.
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Key questions addressed by the report
- What was the historic market size (2017)?
- Which segmentation (Type/Size/Application/Deployment) is driving market growth?
- What will be the growth rate from 2018 to 2023?
- Who are the key players in this market?
- What are the strategies adopted by the key players?
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Sonobuoy Market, by Type, 2017–2023 (Usd Million)
Table 4 Global Sonobuoy Market, by Application, 2017–2023 (Usd Million)
Table 5 Global Sonobuoy Market, by Size, 2017–2023 (Usd Million)
Table 6 Global Sonobuoy Market, by Deployment, 2017–2023 (Usd Million)
Table 7 Global Sonobuoy Market, by Region, 2017–2023 (Usd Million)
Table 8 North America: Sonobuoy Market, by Type, 2017–2023 (Usd Million)
Table 9 North America: Sonobuoy Market, by Application, 2017–2023 (Usd Million)
Table 10 North America: Sonobuoy Market, by Size, 2017–2023 (Usd Million)
Continued…….
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