Sonobuoys Market
Sonobuoys Market
The market for Sonobuoys was estimated at $792.30 million in 2024; it is anticipated to increase to $1.17 billion by 2030, with projections indicating growth to around $1.62 billion by 2035.
Global Sonobuoys Market Outlook
Revenue, 2024 (US$M)
$792M
Forecast, 2034 (US$B)
$1.52B
CAGR, 2024 - 2034
6.7%
Market Key Insights
- The Sonobuoys market is projected to grow from $792.3 million in 2024 to $1.52 billion in 2034. This represents a CAGR of 6.7%, reflecting rising demand across Anti-Submarine Warfare, Underwater Search and Rescue and Oceanographic Data Collection.
- The market leaders that drive competition in this sector include Sparton Corporation and Ultra Electronics and Thales Group.
- U.S. and Canada are the top markets within the Sonobuoys market and are expected to observe the growth CAGR of 4.4% to 6.4% between 2024 and 2030.
- Emerging markets including Indonesia, United Arab Emirates and Brazil are expected to observe highest growth with CAGR ranging between 7.7% to 9.2%.
- The market for Sonobuoys will expand by $104.5 million through 2030 because of the expected transition to Multistatic Sonobuoys.
- The Sonobuoys market is set to add $723 million between 2024 and 2034, with industry players targeting Safety & Security & Research & Survey Application projected to gain a larger market share.
- With Enhancing maritime security, and Technological advancements in sonobuoys, Sonobuoys market to expand 91% between 2024 and 2034.
Opportunities in the Sonobuoys
In the evolving realm of sonobuoys technology advancements including expanded frequency ranges and superior detection capabilities coupled with enhanced durability drive remarkable market growth potential, for companies unveiling cutting edge sonobuoys.
Growth Opportunities in North America and Europe
North America Outlook
Europe Outlook
Market Dynamics and Supply Chain
Driver: Enhancing Maritime Security, and Increasing Application in Scientific Research
Restraint: High Production Costs
Opportunity: Expanding Naval Operations and Strategic Collaborations and Partnerships
Challenge: Regulatory Compliance Challenges
Supply Chain Landscape
Raw Material Acquisition
Thermo Fisher Scientific
LyondellBasell Industries
Component Manufacturing
CeramTec
Sparton Corporation
Assembly
Ultra Electronics
General Dynamics Mission Systems
Deployment
Naval Defense
Anti-submarine warfare
Raw Material Acquisition
Thermo Fisher Scientific
LyondellBasell Industries
Component Manufacturing
CeramTec
Sparton Corporation
Assembly
Ultra Electronics
General Dynamics Mission Systems
Deployment
Naval Defense
Anti-submarine warfare