The SONAR systems and technology market is highly competitive, with enormous number of market players. This report studies the growth strategies adopted by the market players. The strategies adopted by the players to expand their global presence and increase their market share includes partnerships, agreements, collaborations, joint ventures, mergers, acquisitions, and new product launches.

SONAR is an acronym for Sound Navigation and Ranging, primary this technique was developed by military for detecting submarines and other underwater threats such as explosives and mines. The increasing underwater threat in major oceans across the world has led to increase in investment through technologies for the development of more efficient SONAR systems. Until recently, side scan and multi-beam SONARs have been the leading technology for detailed mapping and imaging of the seabed. However, the market for Synthetic Aperture Sonars (SAS) which provides ultra-high image resolution combined with very efficient area coverage rates is expected to show phenomenon growth in near future.

Of the regions considered for this market, North America contributes the largest portion of the market share of the total market. Advancement in digital signal processing (DSP), and organization involved in development of mine countermeasure SONARs are important factors that are responsible for driving this market in this region.

The SONAR systems and technology market is estimated to grow at a CAGR of 6.22% from 2014, to reach $3.12 Billion by 2020. The rise in research, procurement, and use of Unmanned Underwater Vehicles (UUVs) over the past decade has seen significant advances made in the range of UUV payloads including SONARs and subsystems. UUVs are rapidly emerging as the platforms of choice for many military and commercial applications; including mine countermeasures and reconnaissance. Such type of application has a great potential for the growth of SONAR market.