Market Leadership - Sonar System Market
MarketsandMarkets: The sonar system market is estimated to be USD 5.9 billion in 2021 and is projected to reach USD 6.5 billion by 2026, at a CAGR of 1.8% from 2021 to 2026. The market is driven by factors such as deployment of new & advanced sonar systems like 3D sonar, sonobuoys, dipping sonar, towed array sonar, etc.
L3Harris (US), Northrop Grumman Corp. (US), Raytheon Technologies (US), Furuno Electric Company Ltd. (Japan), Kongsberg Maritime (Norway), Aselsan AS (Turkey), and Lockheed Martin (US) are some of the leading companies in this market. The focus of these players is to provide rugged and reliable sonar systems which can be used in various different defence & commercial vessels, Unmanned Underwater Vehicles, aircrafts and Ports. Their Research and Development (R&D) activities makes their hold on this market even stronger.
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Kongsberg Maritime: The company was the key manufacturer of sonar systems. It has a strong global distribution network and a broad product portfolio with varied applications. The company majorly focuses on delivering scalable and affordable systems that increase accuracy and ruggedness.
Aselsan AS: The company is focused on the research and development of new technologies. It has developed high-tech sonar systems and is a key supplier to the Israel, European countries and other Asian Pacific countries.
Furuno Electric Co. Ltd: It is one of the leading manufacturers and distributors of sonar systems. The company has a strong distribution network with its distributors present in Asia Pacific, North America, and Europe. It offers multiple solutions including a variety of sonar systems.
Lockheed Martin: Lockheed martin is one of the dominant players in the sonar systems market. The company intends to strengthen and expand its core businesses with targeted acquisitions and through product developments. The company develops products majorly for the defense forces of US.
Northrop Grumman Corporation: It became one of the top players in the sonar systems market in recent years. It is also an innovator in hardened electronic technologies used in marine applications. The company produces a sonar system kit that can be used by several type of military vessels.
Related Reports:
Sonar Systems Market by Application, Platform (Commercial vessels, Defence vessels, Unmanned Underwater Vehicles, Aircrafts, and Ports), Type, Material, and Region (North America, Europe, APAC, Middle East, & RoW) - Forecast to 2026
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