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The sonobuoy market share is expected to increase by USD 178.29 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 7%.
This sonobuoy market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sonobuoy market segmentation by end-user (defense, commercial, and special purpose) and geography (North America, APAC, Europe, South America, and MEA). The sonobuoy market report also offers information on several market vendors, including ALCEN, General Dynamics Corp., RADIXON Group Pty. Ltd., Rostec State Corp., SeaLandAire Technologies Inc., Sociedad Anonima de Electronica Submarina, Sparton Corp., Tata Power SED, Thales Group, and and Ultra Electronics Holdings Plc. among others.
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The demand for strengthening ASW capabilities is notably driving the sonobuoy market growth, although factors such as the effects on marine life may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sonobuoy industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sonobuoy Market Driver
One of the key factors driving growth in the sonobuoy market is the growing demand for strengthening ASW capabilities. Anti-submarines are marine systems that are operated via surface warship, aircraft, or submarines. Such technologies are developed to track, locate, and destroy hostile and potential pirate submarines underwater. ASW is critical to protecting the strategic speed and operational agility of joint and coalition forces across the sea. Modern ASW is complex in terms of application with multitudes of disparate sensors and platforms ranging from aircraft to sonobuoys to other submarines. Increasing the need to strengthen anti-submarine operations and to monitor natural resources among emerging economies are the major factors driving the growth of the global sonobuoy market. Sonobuoys enable Navy ASW forces to detect, track, and pinpoint potentially hostile submarines operating in the open ocean and in coastal areas that could be threats to Navy carrier battle groups or other forces. Information from these systems can help enable precision attacks with air-launched torpedoes. Demand for sonobuoys is thus strongly associated with the growth of the anti-submarine warfare market.
Key Sonobuoy Market Trend
The introduction of new software for communication is a sonobuoy market trend that is expected to have a positive impact in the coming years. Upgraded performance software is now being integrated into aircraft for better network connectivity, which, in turn, will enhance the overall communication and navigation capabilities. P-8A Poseidon is designed for long-range ASW, anti-surface warfare, and ISR missions and is capable of broad-area maritime and littoral operations. For ASW, it has twice the sonobuoy processing capability and can carry 30% more sonobuoys than any maritime patrol and reconnaissance aircraft. The aircraft employs three types of sonobuoys: SSQ-53 DIFAR buoy, SSQ-62 DICASS, and SSQ-101 ADAR. The introduction of new software for better communication also includes multi-static, active coherent technology. Unlike monostatic conventional sonobuoys, the multi-static system enables sonobuoys to listen to the reflection of pings emitted by other buoys also. The software upgradation and better connectivity will also augment the sonobuoy processing capability and expand the operator's recognition differential with improved sensors and higher-resolution displays. This technological advancement is also expected to improve the dispensing and monitoring capabilities of the aircraft.
Key Sonobuoy Market Challenge
The effects on marine life will be a major challenge for the sonobuoy market during the forecast period. Governments of various countries have laid down certain regulations for the deployment of sonobuoys. These regulations are set to limit the use of sonobuoys in areas where marine life exists, and this is expected to act as a restraint for the global sonobuoy market. Marine mammals like beaked and blue whales are most sensitive to mid-frequency active sonobuoy and sonar noise. Whales are reportedly found to flee away from the affected areas leading to unusual mass stranding. Active sonar transmitters could confuse these animals and interfere with basic biological functions, such as feeding and mating. As a result, regulators are considering the effects of sonobuoy while planning naval exercises.
This sonobuoy market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global sonobuoy market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sonobuoy market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the sonobuoy market encompasses successful business strategies deployed by the key vendors. The sonobuoy market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
General Dynamics Corp. - The system helps acoustic sensor operators detect, localize, and classify nuclear and diesel foreign submarines all around the world. The system supports NATO Standard 99 sonobuoy RF channel allocation and a broad range of passive and active sonobuoy manufacturer types.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The sonobuoy market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the sonobuoy market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the aerospace and defense market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End user
Market Segmentation by Function
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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