Harrisburg, NC -- (SBWire) -- 10/15/2020 --Global Sonar (Sound Navigation and Ranging) System Market Size, Status and Forecast 2020-2023
The Sonar (Sound Navigation and Ranging) System Market report provides a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This market study provides comprehensive data which enhances the understanding, scope and application of this report.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global sonar system market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in Global Sonar (Sound Navigation and Ranging) System Market: Thales Group (Thales Underwater Systems), Ultra Electronics Holdings plc, Raytheon Company, Lockheed Martin Corporation and others.
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Sonar (Sound Navigation and Ranging), refers to a technique that is used to detect or locate objects, especially under the surface of water by using sound waves. Sonar systems can be divided into two categories: Active Sonar (consists of transmitter and receiver) and Passive Sonar (contains only a receiver).
The main uses of sonar system include: for estimation of direction of arrival objects such as submarines; for finding out lost ships and submarines; for communication between sub-merged submarines; for locating mines and underwater hazards in order to achieve safe navigation; for seafloor mapping and seafloor imaging, etc.
The sonar system has a very significant history with continuous introduction of new and innovative technologies. The sonar system market can be segmented on the basis of application (Commercial & Defense); product type (Hull Mounted Sonars; Stern Mounted Sonars; Sonobuoy; Diver Detection Systems & Unmanned Underwater Vehicle (UUV) Sonars); frequency (High; Medium & Low) and installation (Vessel-mounted; Towed; Airborne; Port & Unmanned Underwater Vehicles (UUVs). The commercial and defense sonar system market can be further segmented into applications: commercial sonar system application (Navigation; Hydrography & Fishing) and defense sonar system application (Anti-submarine Warfare; Mine Detection & Countermeasure; Diver Detection; Port Security; Search & Rescue and Others).
The global sonar system market has increased significantly during the years 2017-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The sonar system market is expected to increase due to the expanding maritime tourism sector, increasing seaborne trade activities, rise in the new ship orders, growing use of sonar system in fishery industry, increasing consumption of oil and gas, etc. Yet the market faces some challenges such as the side effects on marine life from the usage of sonar, shortage of qualified professionals in maritime industry, etc.
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Influence of the Sonar (Sound Navigation and Ranging) System Market Report:
-Comprehensive assessment of all opportunities and risk in the Sonar (Sound Navigation and Ranging) System market.
-Detailed study of business strategies for growth of the Sonar (Sound Navigation and Ranging) System market-leading players.
-Conclusive study about the growth plot of Sonar (Sound Navigation and Ranging) System market for forthcoming years.
-In-depth understanding of Sonar (Sound Navigation and Ranging) System market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Sonar (Sound Navigation and Ranging) System market.
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Sonar (Sound Navigation and Ranging) System Market Disclosing Latest Advancements 2020 to 2023