How big is the Sonar Systems Market?

The Sonar Systems Market size is expected to reach USD 5.03 billion in 2024 and grow at a CAGR of 4.38% to reach USD 6.23 billion by 2029. Read More

What is the current Sonar Systems Market size?

In 2024, the Sonar Systems Market size is expected to reach USD 5.03 billion. Read More

Who are the key players in Sonar Systems Market?

THALES, ThyssenKrupp AG, Lockheed Martin Corporation, General Dynamics Corporation and Northrop Grumman Corporation are the major companies operating in the Sonar Systems Market. Read More

Which is the fastest growing region in Sonar Systems Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Sonar Systems Market?

In 2024, the Asia-Pacific accounts for the largest market share in Sonar Systems Market. Read More

What years does this Sonar Systems Market cover, and what was the market size in 2023?

In 2023, the Sonar Systems Market size was estimated at USD 4.81 billion. The report covers the Sonar Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sonar Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Sonar Systems Market Trend and Analysis: Global Growth, Value & Forecast

Sonar Systems and Technology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Sonar Systems and Technology Market Report is Segmented by Application (Defense and Commercial), Technology (Active Sonar and Passive Sonar), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

Sonar Systems and Technology Industry Overview

The sonar systems and technology market is fragmented with various players dominating the market. Some of the major players in the sonar systems and technology market are Northrop Grumman Corporation, THALES, ThyssenKrupp AG, Lockheed Martin Corporation, and General Dynamics Corporation amongst others.

Various players in the market are investing significantly in research and development of advanced sonar technologies which will help to enhance the capabilities of naval vessels. Furthermore, various players are also collaborating with defense forces worldwide to understand the military requirements and develop cutting-edge technologies such as retractable sonar systems for vessels operating in shallow waters while also working towards business expansion. In addition, the growing global presence of international companies coupled with increasing investments in new technologies by such companies as compared to their regional counterparts is anticipated to lead to the international companies increasing their market share significantly in the years to come within the global market.