Global Sonobuoy Market
Sonobuoy Market Size And Forecast
According to Verified Market Research, Global Sonobuoy Market was valued at USD 277.02 Million in 2018 and is projected to reach USD 467.3 Million by 2026, growing at a CAGR of 6.72% from 2019 to 2026.
Global Sonobuoy Market Outlook
The growing R&D activities and collaboration of major players for producing a new range of anti-submarine warfare (ASW) and special purpose sonobuoy are factors that are anticipated to support the growth of the market over the forecast period. The benefits with the use of an active and passive system such as reducing the potential attacks and loss of resources in supporting the growth of the market. With the growing consumption of oil & gas around the world, governments are supporting and investing in the use of sonobuoy for oil & gas exploration activities, hence fueling the growth of the market over the forecast period. however, the use of sonobuoy is affecting marine life coupled with stringent environmental regulation are some of the factors that may affect the growth of the sonobuoy market. moreover, the rise in the demand for the UUVs coupled with the increasing investment activities for enhancing the sonar system is creating an opportunity for the market to grow.
Global Sonobuoy Market Competitive Landscape
The Global Sonobuoy Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Sparton Corporation, Thales Group, Ultra Electronics Group, Sealandaire Technologies Inc., Radixon Group, Lone Star Electronics Co., General Dynamics Mission Systems, Sigma-Pi Power Sources Pvt Ltd., Harris Corporation, and Lockheed Martin Corporation.
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