New York, United States , July 19, 2024 (GLOBE NEWSWIRE) -- The Global Sonobuoy Market Size Expected to Grow from USD 495.62 Million in 2023 to USD 810.45 Million by 2033, at a CAGR of 5.04% during the forecast period 2023-2033.
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Sonobuoy is an extremely small, self-contained device that is commonly deployed from submarines, ships, and aeroplanes. It functions as a flotation device and has several sensors. The sonobuoy uses sound waves it detects and analyses to communicate after submerging itself in water. The use of sonobuoy in military and scientific applications is increasing as a result of the developments, which also make them more dependable and efficient. Keeping marine security has become a top priority for many nations due to the expansion of international trade and the strategic importance of sea routes. Since sonobuoy are essential for identifying unlawful activity, keeping an eye on and safeguarding coastal waterways, and defending national interests, their demand has increased. Sonobuoy technology has since acquired enhanced characteristics like longer detection ranges, better data processing, and increased sensitivity. By listening to the noise produced by an enemy submarine's propellers, sonobuoys can identify it and provide the naval forces with real-time intelligence. Consequently, it is expected that the increasing quantity of advanced sonobuoys acquired by navies and their endeavours to improve their facilities would fuel the growth of this industry. However, the naval forces postponed the installation and modernization of sonobuoys as part of military programmes. A decline in oil and gas exploration activity also impeded the market's expansion by lowering the need for sonobuoys.
Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the "Global Sonobuoy Market Size, Share, and COVID-19 Impact Analysis, By Type (Active, Passive), By Deployment (Spring, Pneumatic, Free fall, Cartridge), By Applications (Water Temperature, Wave Height, Research, Monitor Underwater Volcanic Activity, Bathythermograph or Salinity Reading, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The active segment is expected to hold the largest share of the sonobuoy market during the estimation timeframe.
Based on the type, the sonobuoy market is categorized into active, and passive. Among these, the active segment is expected to hold the largest share of the sonobuoy market during the estimation timeframe. Submarines, surface ships, and marine mammals may all be accurately identified and categorised by active sonobuoys because to their sophisticated acoustic sensors and signal processing algorithms. When acting in marine scenarios, this gives the naval forces real-time situational awareness and actionable intelligence.
The pneumatic segment is expected to grow at the fastest CAGR during the estimation timeframe.
Based on the deployment, the sonobuoy market is categorized into spring, pneumatic, free fall, and cartridge. Among these, the pneumatic segment is expected to grow at the fastest CAGR during the estimation timeframe. Pneumatic sonobuoys are equipped with hydrophones, also known as acoustic sensors, which allow them to detect sounds from below. These are able to track a broad variety of sound frequencies, such as those released by submarines, ships, marine life, and as was previously indicated possible volcanic activity.
The monitor underwater volcanic activity segment is expected to hold a significant share of the sonobuoy market during the estimation timeframe.
Based on the application, the sonobuoy market is categorized into water temperature, wave height, research, monitor underwater volcanic activity, bathythermograph or salinity reading, and others. Among these, the monitor underwater volcanic activity segment is expected to hold a significant share of the sonobuoy market during the estimation timeframe. They are able to exchange data in real time, including audio recordings. Since sonobuoys can operate independently for extended periods of time, they are helpful for monitoring remote and deep-sea volcanic zones where it is challenging for humans to perform direct observation.
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North America is projected to hold the largest share of the sonobuoy market over the estimation timeframe.
North America is projected to hold the largest share of the sonobuoy market over the estimation timeframe. With USD 801 billion set aside for defense in 2021, the US will spend more on defense than any other country in the world. The navies of North America have made the development and deployment of state-of-the-art sonobuoy systems a key priority in order to maintain maritime domain awareness, protect important sea routes, and counter new threats such as the proliferation of submarines, illegal trade, and maritime terrorism.
Europe is expected to grow at the fastest CAGR growth of the sonobuoy market during the estimation timeframe. Europe collaborates on cooperative defence projects and procurement initiatives to enhance maritime surveillance capabilities, leveraging its defence enterprises and technological know-how. In addition, to bolster their maritime security posture, the Commonwealth of Independent States (CIS) invests in sonobuoy systems and anti-submarine warfare capabilities, driven by territorial disputes, competition for maritime resources, and concerns about regional security.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global sonobuoy market are General Dynamics Mission Systems, Radixon Group Pty Ltd, Sealandaire Technologies Inc., Sparton Corporation, Tata Advanced Systems, Thales Group, Aselan, Sigma Pi-Power sources Pvt Ltd, and others.
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Recent Developments
- On March 2024, A MQ-9B Sea Guardian remote-controlled aerial system equipped with a Sonobuoy Dispensing System (SDS) was tested by General Atomics Aeronautical Systems. These trials demonstrated a significant advancement in anti-submarine warfare and maritime security capabilities by assessing the SDS's ability to employ sonobuoys for underwater observation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global sonobuoy market based on the below-mentioned segments:
Global Sonobuoy Market, By Type
- Active
- Passive
Global Sonobuoy Market, By Deployment
- Spring
- Pneumatic
- Free fall
- Cartridge
Global Sonobuoy Market, By Application
- Water Temperature
- Wave Height
- Research
- Monitor Underwater Volcanic Activity
- Bathythermograph or Salinity Reading
- Others
Global Sonobuoy Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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