Understanding Market Share in the Sonar Systems Market
The global Sonar Systems Industry growth is projected to be USD 6.5 billion by 2026, growing from USD 5.9 billion in 2021, at a Compound Annual Growth Rate (CAGR) of 1.8% during the forecast period.

According to a research report "Sonar Systems Market by Application, Platform (Commercial vessels, Defence vessels, Unmanned Underwater Vehicles, Aircrafts, and Ports), Type, Material, and Region (North America, Europe, APAC, Middle East, and RoW) - Forecast to 2026" published by MarketsandMarkets, the sonar system market is estimated to be USD 5.9 billion in 2021 and is projected to reach USD 6.5 billion by 2026, at a CAGR of 1.8% from 2021 to 2026. Growth of this market can be attributed to the rise in maritime trade, developments in the offshore energy sector, and fisheries. The commercial sonar market in fisheries is experiencing high growth to locate fish breeding ocean waters as excessive fishing has resulted in lower catches.

Browse 320 market data Tables and 65 Figures spread through 281 Pages and in-depth TOC on "Sonar Systems Market - Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/sonar-systems-technology-market-142612945.html

YOUR REACTION?

Disqus Conversations