Sonar System Market share research by applications and regions for 2017-2024

Sonar System Market size can be attributed to growing demand of sonars in preemptive defense processes, augmented implementation of it for the anti-submarine warfare (ASW) methods, and rising need from fishing industry.

The growth of innovative SONARS for defense arena has led to a substantial surge in the government funding. The main funding programs introduced by the government will drive factors for industry growth. In March 2015, Kraken SONARs received USD 450,000 in subsidy from Industrial Research Assistance Program held by Canada's National Research Council for the expansion of high-resolution sonars based on Kraken’s Interferometric Synthetic Aperture sonar system technology.

Request Detailed Table of Contents of this Report @ https://www.gminsights.com/request-sample/detail/2153

Defense application is assessed to account for principal share of the industry. This segment is expected to raise at a higher pace in the stipulated period. In defense, sonars are used mostly in the naval ships. Major demand for the navigation sonars is primarily from countries involved in shipbuilding.

General-purpose hull mounted segment is projected to account for the major share of the sonars market by product. These are fitted in ships' hull for the navigation purpose and threat recognition. The information segment and seabed imaging are anticipated to account for the second-largest industry share. These systems are used for sub bottom profiling and hydrographic surveying.

The U.S. Navy bestowed USD 13,864,676 in funding to Lockheed Martin for the growth of an Acoustic Rapid Commercial-off-the-Shelf Insertion SONAR system. Such rising funding will propel the product demand. However, factors including radiations released from the product at high frequencies affects the water vegetation and marine life can hamper the industry growth.

North America is anticipated to be the leader for vessel mount segment in the forecast period mostly owing to by big naval shipbuilding orders in the U.S. and Canada. Increase in defense expenditure for nautical shipbuilding and hydrographic gas & oil exploration in the Asia Pacific is expected to enhance the demand for the product.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2153

Major players of the market include Atlas Elektronik, JRC, Furuno, L3, Kongsberg Gruppen, Navico, Lockheed Martin, Sonardyne, Raytheon, Thales, Ultra Electronics and Teledyne. Due to the high growth potential of this industry, the retailers and wholesalers are directing on developing innovative products to seizure more revenue share. Since the industry has nominal scope for product differentiation, vendors are investing significantly in R&D.

Pre-book This Upcoming Report @ https://www.gminsights.com/securecheckout/paymenta/2153?gmpaycod=sugmp

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone:1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

I currently work as a SEO Analyst in a market consultancy firm. An automobile engineer by education, I have prior experience in automotive manufacturing firms, market research, and business development domains.