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The size of the sonobuoy market is predicted to grow at a compound annual growth rate of 6.95% from 2020 to 2030, or USD 2.261 billion.
The Sonobuoy market is influenced by a variety of factors that collectively shape its dynamics. Geopolitical tensions and the increasing focus on maritime security play a central role in driving the demand for sonobuoys. As nations strive to enhance their naval capabilities and secure their maritime borders, the need for advanced anti-submarine warfare (ASW) technologies, including sonobuoys, intensifies. The evolving nature of undersea threats and the strategic importance of maritime domains drive investments in sonobuoy systems to detect and track submarines effectively.
Technological advancements are paramount in shaping the Sonobuoy market. Ongoing innovations in sonar technology, signal processing, and communication systems contribute to the development of more sophisticated and capable sonobuoys. These advancements are crucial for improving detection ranges, reducing false positives, and enhancing the overall performance of sonobuoy systems. The competitive landscape is influenced by companies striving to provide cutting-edge solutions that address the evolving requirements of naval forces worldwide.
Naval modernization programs and fleet expansion initiatives significantly impact the market. As navies upgrade their fleets and introduce new platforms, the demand for complementary ASW capabilities, such as sonobuoys, experiences growth. The integration of sonobuoys into a comprehensive ASW strategy enhances a navy's ability to detect and respond to potential submarine threats, contributing to the overall effectiveness of maritime defense.
Economic factors and defense budgets play a critical role in determining the scale and pace of sonobuoy procurement. The cost of research, development, and production of advanced sonobuoy systems can influence a country's decision to invest in these technologies. Economic downturns may lead to budget constraints, impacting the timing and scale of sonobuoy acquisition programs. Conversely, periods of economic growth and heightened security concerns can drive increased defense spending, benefiting the sonobuoy market.
Global maritime policies and alliances influence the demand for sonobuoys. Countries participating in international naval coalitions seek interoperability and compatibility among their ASW systems, including sonobuoys. Standardization of sonobuoy technologies facilitates joint operations and strengthens collaborative efforts in maritime security. Changes in maritime security doctrines or the formation of new alliances can impact the procurement strategies of nations in relation to sonobuoys.
Environmental considerations are gaining prominence in the development of sonobuoy technologies. The exploration of eco-friendly materials and energy-efficient solutions aligns with the broader global emphasis on sustainability. As a result, manufacturers are increasingly incorporating environmentally conscious practices in the production of sonobuoys, addressing concerns related to the impact of military activities on the marine environment.
Competition among defense contractors is a crucial factor in the Sonobuoy market. Companies vie for contracts through competitive pricing, technological innovation, and the ability to meet specific performance requirements. Mergers, acquisitions, and collaborations within the defense industry can reshape the competitive landscape, influencing market share and technological capabilities.
Sonobuoy Market Highlights:
Sonobuoy Market Overview
Sonobuoy Market Size is expected to reach USD 2.261 Billion by 2030, registering a CAGR of 6.95% during 2020-2030.
A sonobuoy is a specialized piece of equipment that exploits sonar for operation, making it is a data collection floating device that uses sonar. It can be used in several industries but is mainly utilized in military applications and oil & gas exploration.
COVID-19 Analysis
As industries such as oil & gas have been influenced negatively due to COVID-19, sonobuoys' need has decreased. However, as the defense industry is slightly affected due to the pandemic, the market for sonobuoy in this industry has not been as impacted compared to commercial sectors. The essential functions, such as manufacturing facilities and supply chains, have been affected due to the contagion. A comparable trend is anticipated to be observed in businesses assembling sonobuoy and related supply chain modules. Apart from viable industries, the defense sector is expected to support sonobuoy market development. Conversely, a reasonable impact is projected to be noted on the sonobuoy market's manufacturing chain. The future situation is projected to see the cutbacks of the lockdown duration, which would allow companies to commence operations that will enable market revival.
Market Dynamics
Drivers
Growing Demand for Submarines
The surge in submarines' use due to increased geopolitical conflicts and research activities is estimated to enhance the forecast period's sonobuoy Industry.
Rise in Industrial Applications of Sonobuoys
The uptick in the application of sonobuoys in a range of industrial applications is estimated to promote the sonobuoy manufacturers in the forthcoming years.
Opportunities
Surge in Demand for Unmanned Underwater Vehicles
The rise in demand for unmanned underwater vehicles to undertake challenging sea exploration roles is likely to promote the forecast period's sonobuoy manufacturers.
Rising Need for Cost-Effective ASW Systems
The increased instances revolving around anti-submarine warfare are also inducing the manufacturers to offer cost-effective options to promote global demand.
Challenges
Impact on Marine Life
Marine life's effect is estimated to be a central factor restricting the sonobuoy market in the forecast period.
Limited Detection Capability in Littoral Zones
The limitations in the capacity of sonobuoys in terms of their detection capability in littoral zones are likely to restrict the forecast period's global market.
Segment Overview
By Type
The active sonobuoys segment is anticipated to direct the sonobuoy market with a USD 293.8 million valuation in 2018 and achieve an earning of USD 410.0 million by 2023. This is owing to active sonobuoys' ability to notice quiet diesel submarines or submarines in strike mode.
By Size
The size A segment is projected to tip the sonobuoy market with a worth of USD 206.3 million in 2018 and realize an income of USD 284.6 million by 2023. The A size sonobuoys can trail very-low-frequency echoes and function in shallow and deep waters, compelling the overall segment's growth.
By Application
The detection & tracking segment is envisaged to hold the most significant market portion with a USD 174 Million estimate in 2018. The segment is projected to reach USD 240.3 Million by 2023 at the highest CAGR of 6.66% during the forecast period.
By Deployment
The pneumatic segment is anticipated to be the prime segment, with a value of USD 170.2 Million in 2018 and touch USD 258.8 Million by 2023.
Regional Analysis
North America To Enhance Naval Prowess
North American sonobuoy market is projected to be a well-known region for the sonobuoy market due to significant manufacturers' presence. North America's region controlled a 31.83% stake of the global sonobuoy market. The upsurge in environmental exploration investments by 2035 is anticipated to generate opportunities for the contenders functioning in the sonobuoy market. Naval upgrading endeavors and the construction of maritime facilities, counting the usage of sonobuoys for submarine recognition, propels the region's sonobuoy market growth. North American regional market is anticipated to reach USD 191.0 Million by 2023 at a CAGR of 6.74% in the forecast period.
Strong Contenders To Mould European Regional Market
The European sonobuoy market is intended to be the second principal market throughout the review period. The foremost market competitors' presence is expected to push the sonobuoy market development in Europe. The regional market in Europe is anticipated to influence an income-earning capacity of USD 595.9 Million by 2023 at a CAGR of 6.62% in the forecast period.
MEA And APAC Regions To Show Optimistic Growth
Collective financing in research to direct underwater acoustic surveillance in the Asia Pacific and the Middle East regions is projected to push the worldwide sonobuoy market's development in the upcoming years. Furthermore, naval modernization programs are propelling market growth in the Asia Pacific.
Competitive Landscape
The Key Players in the Global Sonobuoy Market are
- Radixon (Australia),
- Ultra-Electronics Group (Australia),
- Spartan (U.S.),
- General Dynamics Corporation (U.S.),
- Thales Group (France),
- Lockheed Martin Corporation (U.S.),
- Sealandaire Technologies Inc. (U.S.),
- Lone Star Electronics Co. (U.S.),
- Sigma Pi-Power Sources Pvt Ltd (India)
Recent Developments
Dec 2020Â Leonardo has lately demonstrated the newly-expanded competencies of its ULISSES acoustic anti-submarine warfare (ASW) system in a demo off Italy's coast. Throughout the demo, Leonardo presented how the Firefly, AQS-18, dipping sonar from L3Harris Technologies functioned in concert with the ULISSES processor to spontaneously trace simulated enemy submarines and signal the crew to their attendance. The exhibition follows the Firefly dipping sonar's positive integration with the ULISSES system. Firefly integrates a high-powered active sonar that can drop down to 200m below the sea surface and notice targets as far away as 20 miles while communicating sonar and sonobuoy processing, audio, and video to the shore through a wideband data link.
Sep 2020Â Ultra declared that it had captured a QinetiQ agreement to assist them in substituting the entire Sonobuoy Test Facility (STF) organization at the British Underwater Test & Evaluation Centre, MOD BUTEC. This work comprises replacing the Command function transmitters, the Software-Defined Sonobuoy Receivers (SDSRs), and a group of investigation software for the Ground Monitoring Station, which delivers examining, control, recording, and analysis capabilities for the sonobuoy.
July 2020 The U.S. Navy is developing a novel sonobuoy to enhance its ability to trail newer and silent submarines fore effectively. The Office of Naval Research has given Undersea Signal Systems Inc. of Columbia City, Indiana, a USD 28.3 million cost-plus-fixed-fee-contract to progress a prototype sonobuoy, recognized as Extended Range Directional Frequency Analysis and Recording (ER-DIFAR), to address the latest and noiseless threat submarine targets.
Report Overview
By Type
- Active Sonobuoy
- Passive Sonobuoy
By Size
- Size A
- Size B
- Size C
By Application
- Detection and Tracking
- Safety and Security
- Oil & Gas
By Deployment
- Spring
- Pneumatic
- Free Fall
- Cartridge
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