SONAR System Market will exhibit a CAGR of 7.17% during the forecast period, 2020-2027, and reach USD 3.60 billion by the end of 2027, and the Market value as per 2020 was USD 2.77 billion.

Fortune Business Insights™ in a new report, titled, “SONAR System Market Size, Share and Global Trend By Product Type (Hull -Mounted, Stern-Mounted, Sonobuoy, and DDS), By Application (Commercial, and Defense), By Platform (Ship Type, Airborne), By Solution (Hardware, and Software) By End-User (Line Fit, and Retrofit), and Regional Forecast, 2020-2027.”

SONAR System Market Drivers and Restraint:
Rising Demand for Sonobuoy for Tactical Defense Operations
A sonobuoy is an advanced sonar system that is dropped/ejected from naval ships for underwater acoustic research. Sonobuoys are expandable products which has advanced transducer and a radio transmitter to record and transmit underwater sounds. The sonobuoys products are classified as passive, active, and special purpose buoys. The passive sonobuoys consist of a hydrophone used to listen for sound energy from a target, whereas, the active sonobuoys use a transducer to transmit an acoustic signal and used to capture the return echo off an object. The special-purpose sonobuoys are used to provide additional information about the environment, such as wave height as well as water temperature. The sonobuoy are majorly used in the defense vessels for tactical defense operation. The increasing adoption of sonobuoy in the defense vessels are anticipated to boost this market

Growing Product Use in the Aquaculture Farms Refuels the Market Growth
The deep neural network is used in the sonar system for fish monitoring. Fish monitoring in aquaculture farms is anticipated for the growth of fish resources. However, it is difficult to expect humans to be able to monitor at night when conventional optical cameras are unable to capture the image. The deep neural network sonar consists of high-precision imaging sonar and an underwater optical camera. These products can capture images by using a technologically advanced underwater optical camera. This system enables nighttime monitoring and help to build more efficient fish farming. The increasing demand for the product in the aquaculture farms is propelling the market.

List of Key Players Covered in the SONAR System Market Report:
• ASELSAN A.Ş. (Turkey)
• ATLAS ELEKTRONIK INDIA Pvt. Ltd. (India)
• Dsit Solutions (Israel)
• Edgetech Air Systems Pvt. Ltd. (India)
• FURUNO ELECTRIC CO., LTD. (Japan)
• Japan Radio (JRC) Co., Ltd. (Japan)
• Kongsberg Gruppen (Norway)
• Lockheed Martin Corporation. (United States)
• L3Harris Technologies, Inc. (United States)
• Navico (Norway)
• Raytheon Technologies Corporation (United States)
• Sonardyne (United Kingdom)
• Teledyne Technologies Incorporated. (United States)
• Thales Group (France)
• Ultra Electronics (United Kingdom)

To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/sonar-system-market-101830

Some of the key industry developments in the SONAR System Market Include:

• September 2019 - Lockheed Martin The U.S. Navy signed a contract with a valuation of USD 297 million to develop a new generation of submarine-hunting sonars. These systems agree to surface ships to hunt and attack enemy submarines during the battlefield operation.
• May 2016- Lockheed martin and the U.S navy awarded a contract with a valuation of USD 425 million to build advanced systems of sonar. The Lockheed Martin guidance and control systems equipped the heavyweight torpedoes with tracking capabilities, increased bandwidth, and streamlined targeting.