Global Sonobuoy Market Is Projected to Reach USD 316.59 Million by 2020

Date: 2016-01-11

The sonobuoy market is projected to reach USD 316.59 Million by 2020. A number of factors, such as the increasing focus by countries on strengthening their Anti-Submarine Warfare (ASW) capabilities and increase in the efficiency of sonobuoys due to various technological advancements are expected to drive the growth of the sonobuoy market.

Passive sonobuoys to dominate the sonobuoy market, segmented based on function.

This segment dominates the studied market, and is expected to continue its dominance over the next 5 years, primarily driven by the high demand for passive sonobuoys which are more effective in detection due to their ability to prevent the detection of a tracking aircraft by a submarine.

Defense application is expected to grow the highest during the forecast period.

The global sonobuoy market has been segmented and analyzed in terms of two key application segments, namely, defense and civil. The defense segment dominates the overall market, and is expected to exhibit a similar trend during the next 5 years. It is expected to be mainly driven by the increasing spending by countries towards strengthening their anti-submarine warfare capabilities.

The sonobuoy market is expected to witness the highest growth in the Asia-Pacific.

This growth can be attributed to the increasing defense budget in the region and the China Sea dispute which pertains to a dispute over territory and sovereignty over ocean areas among countries such as China, Brunei, Philippines, and Malaysia.

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