Sonobuoy Market – Global Industry Analysis And Forecast(2023-2029)

Sonobuoy Market is expected to reach US$ 922.40 Mn. by 2029 at a CAGR of 6.55% during the forecast period.

The sonobuoy is an expendable, air-deployed acoustic sensor to detect submarines, they are compact, self-contained package of electronics designed to be dropped from an aircraft, enter the water, separate into an underwater acoustic sensor and an on-the-surface radio transmitter, and relay the underwater acoustic signals. It detects to the aircraft, where the radio frequency (RF) transmission is received and processed to detect, locate, and track submarines at sea. The sonobuoy provides the underwater ears for the aircraft.To know about the Research Methodology :- Request Free Sample Report

Technological advancement in antisubmarine and submarine are driving the market growth. Rising geographical tension between neighboring countries especially in the Middle East and Asia Pacific many countries are strengthening their military infrastructure and increasing investment in defense. For instance, in India defense services was increased to 64.38 Billon compared to 47.1 billion in the 2022 Budget and China has invested $209 billion, U.S. military spending is among the highest countries invested $696 billion in 2022. In the U.S the Pentagon’s portion of the budget is comprised of a $636.4 billion base and an additional $69 billion for overseas contingency operations funding, the war budget.

The U.S. Navy has ordered 20,000 SSQ-125 sonobuoys for anti-submarine warfare (ASW) training and operations. The Navy’s sonobuoy budget climbed from $174 million in 2022 to $216 million in 2022 to $264 million in 2022 the budget request, as a result, his has made a positive impact on the Sonobuoy market growth. In 2022, Bharat Dynamics Limited (BDL) has launched two new products during Aero India- 2022 the “Dishani” and “Garudastra”. Dishani, an expendable air-deployed ASW sonobuoy system being designed and developed by NPOL, DRDO. BDL is the development partner for Dishani.

The report has profiled ten key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the Asia Pacific. Major country’s policies about manufacturing and their impact on Sonobuoy demand are covered in the report.
Sonobuoy Market Segment Analysis
The defense segment is expected grow at a CAGR of xx% during the forecast period.

By application, in 2022 the global defense segment was xx% and it is estimated to maintain its position with a value of USD$ xx ssnMn by 2029. The market growth is attributed to increasing defense budget and increasing investment in R & D for the developmental test and operational test of Sonobuoy is driving the market growth.
Sonobuoy Market Regional Insights:
North America is expected to grow at a CAGR of xx% during the forecast period and is expected to reach xx% market share by 2029

The North America Sonobuoy market accounted for the major share in the global revenue in 2022. The market growth in the North America is attributed to increasing investment in the defense sector and the presence of established Sonobuoy manufacturers which in turn driving the market growth. Manufacturing industries in Asian countries are booming at an exponential rate, which boosts the penetration of the defense Industry besides, the advancements in technology and geographical tension between neighboring countries are anticipated to support the growth of the Chinese defense market during the forecast period.

The objective of the report is to present a comprehensive analysis of the global Sonobuoy market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.

External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding global Sonobuoy market dynamics, structure by analyzing the market segments and project global Sonobuoy market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global Sonobuoy market make the report investor’s guide.
Sonobuoy Market Scope :Inquire before Buying



Global Sonobuoy Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 591.62 Mn.


Forecast Period 2023 to 2029 CAGR:
6.55%
Market Size in 2029:
US $ 922.4 Mn.


 Segments Covered:
by Deployment
Spring
Pneumatic
Free-fall
Cartridge


by Type
Active
Passive
Special Purpose


by Range
Short Range
Long Range


by Application
Commercial
Defense



Sonobuoy Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Sonobuoy Market, Key Players are
1. Alkan
2. Geospectrum Technologies Inc.
3. L3Harries
4. Aurora Flight Sciences
5. JSK Naval Support Inc.
6. Marshall Aerospace and Defence Group
7. MES S.P.A.
8. Systems Engineering Associates Corporation
9. SAES
10. Ultra Electronics
11. Other

Frequently Asked Questions:

1. Which region has the largest share in Global Sonobuoy Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Sonobuoy Market?
Ans: The Global Sonobuoy Market is growing at a CAGR of 6.55% during forecasting period 2023-2029.

3. What is scope of the Global Sonobuoy Market report?
Ans: Global Sonobuoy Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Sonobuoy Market?
Ans: The important key players in the Global Sonobuoy Market are – Alkan, Geospectrum Technologies Inc., L3Harries, Aurora Flight Sciences, JSK Naval Support Inc., Marshall Aerospace and Defence Group, MES S.P.A., Systems Engineering Associates Corporation, SAES, Ultra Electronics, and Other.

5. What is the study period of this Market?
Ans: The Global Sonobuoy Market is studied from 2022 to 2029.