Of late, the global market for active sonar systems has been observing a tremendous rise in its valuation. The significant increase in the defense spending in the United States and several Asian economies on naval platforms has led to a surge in a high demand for active sonar systems in the defense sector in these regions. Apart from this, the augmenting usage of active sonar systems for fish finding is also reflecting positively on the growth of this market.
On the whole, the future of the worldwide active sonar systems looks thriving. However, the adverse effects of these systems on the marine life are projected to act as a restraining factor for the growth of this market in the years to come.
Demand for Multi-beam Sonar Systems to remain Strong
Multi-beam sonar system and side scan sonar system have surfaced as the key products available in the global active sonar systems market. Currently, the demand for multi-beam sonar systems is relatively greater than side scan sonar systems. With the increasing usage of multi-beam sonar systems in several applications, such as submarine and weapons, this scenario is expected to remain so over the next few years.
The commercial, military, and the scientific exploration industries have emerged as the main application areas of active sonar systems across the world. The demand for active sonar systems has been higher in the military sector and is closely followed by the scientific exploration industry. With the rise in the demand for active sonar systems in strategic defense operations, the military sector is expected to retain its dominance as the main end user of active sonar systems in the years to come.
United States to Continue to Dominate
Europe, the United States, South East Asia, Japan, China and India are the prime regional markets for active sonar systems across the world. The United States, closely followed by Europe, has been leading the global market. The dominance of this regional market can be attributed to the improvement in sensor technologies. The United States market for active sonar systems is expected to remain on the top over the next few years, thanks to the constant technological advancements.
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Amongst other regional markets for active sonar systems, China, together with, India, Japan, and South East Asia, is reporting the most lucrative opportunities for the growth of the global market. It is projected to register a high-paced growth in the years to come and is expected to emerge as a prominent consumer of active sonar systems across the world. The augmenting demand for medical applications and the increasing usage of active sonar systems in tactical defense operations is projected to support the China, as well as other regional markets for active sonar systems over the forthcoming years.
Raytheon, Thales, Kongsberg Maritime, Ultra-Electronics, ASELSAN, Northrop Grumman, ATLAS ELEKTRONIK, ERAPSCO, Klein Marine Systems, Lockheed Martin, and L3 Ocean Systems are some of the prominent vendors of active sonar systems across the world. These players are focusing on strategic alliances to sustain in this highly competitive market.