The Sonobuoy launcher industry is estimated to register a CAGR of nearly 4% during the forecast period by 2027.
Market Research Future (MRFR) analysed the sonobuoy launcher industry 2020 through the review period across the assessment period till 2027. By 2027, the sonobuoy market can surge at decent pace to earn substantial revenue. The increase in demand for expendable and portable sonar system can favour expansion of the market in the review period. The rise in its application, such as ISR, maritime patrol, underwater research, and submarine detection among others. In addition, the increase in demand for sonobuoy launchers favour expansion of the market in the years to come.
The introduction of advanced sonobuoy launchers to offer better aircraft and the need for effective weapon management systems can support expansion of the market in analysis period. The availability of effective designing for sonobuoy launch systems can support market surge. Rise in emphasis on maritime security and subsequent rise in naval budgets, along with international seaborne trade can support market expansion. The growing focus on safe operations and increase in underwater exploration activities can positively impact the worldwide sonobuoy launcher industry upsurge. The rise in defense expenditure and subsequent increase in demand for anti-submarine warfare technology can boost expansion of the sonobuoy launcher market growth in the years to come.
The key players in the global sonobuoy launcher Industry are Harris Corporation (US), Alkan S.A. (France), JSK Naval Support Inc. (Canada), and Geospectrum Technologies Inc. (Canada).
The global sonobuoy launcher industry has been segmented based on launch configuration, launch mode, launch platform, and region.
Based on launch configuration, the sonobuoy launcher industry is divided into single launch system and multiple rotary launch system. The multiple rotary launch system segment is estimated to account for the largest market share and is projected to witness the highest CAGR during the forecast period as it can eject as much as forty sonobuoys. The aircraft mounted launchers can also be reloaded during flight.
Based on launch mode, the sonobuoy launcher industry is divided into pneumatic and others. Others include cartridge activated devices (CAD), spring-loaded, mechanical ejectors, and gravity release. The pneumatic segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. This type of launcher system is being offered by almost all players in the market.
Based on launch platform, the sonobuoy launcher industry is divided into aircraft and naval vessels. The aircraft segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. Meanwhile, the ships can carry heavier launcher systems and can deploy sonobuoys for maritime patrol, submarine detection, and other applications.
Based on region, the sonobuoy launcher market industry is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increasing demand for sonobuoys in countries such as China, and India owing to rising maritime disputes.
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