Global Sonobuoy market will reach 360 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2018/12/6

A sonobuoy (a portmanteau of sonar and buoy) is a relatively small buoy (typically 13 cm or 5 in, in diameter and 91 cm or 3 ft long) expendable sonar system that is dropped/ejected from aircraft or ships conducting anti-submarine warfare or underwater acoustic research. A tactical sonar system for transmitting submarine activity, the sonobuoy is a core technology for anti-submarine warfare.

The Major regions to produce Sonobuoy are North America and Europe which accounting for about 90 % of sales revenue in total. North America is the largest demand region (sales value share 68% in 2017). Sonobuoy product demand is in a certain space, and the main consumer countries are moderately developed countries and developed countries.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area; the future will still have more new investment enter the field.

Increasing need amongst emerging economies to strengthen their anti-submarine operations and to monitor their natural resources are major factors driving the growth of the global sonobuoy market. Demand for sonobuoys is strongly associated with the growth of anti-submarine warfare market. Moreover, demand for passive sonobuoys is expected to increase because of the fact that it performs detection and tracking without notifying the target object about its presence, and this is expected to reflect in the revenue forecast. However, stringent regulations, high costs associated with deployment and monitoring of sonobuoys, technical limitations, etc. are major challenges expected to be faced by market players in the global sonobuoy market during the forecast period.

The global Sonobuoy market is valued at 270 million US$ in 2017 and will reach 360 million US$ by the end of 2025, growing at a CAGR of 3.5% during 2018-2025.

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