Join date: Jun 15, 2021


The global SONAR system market size is projected to reach USD 3.60 billion by the end of 2027. The increasing investment in product R&D by major companies will bode well for the market in the coming years. According to a report published by Fortune Business Insights, titled “SONAR System Market Size, Share and COVID-19 Impact; By Product Type (Hull -Mounted, Stern-Mounted, Sonobuoy, and DDS), By Application (Commercial, and Defense), By Platform (Ship Type, Airborne), By Solution (Hardware, and Software) By End-User (Line Fit, and Retrofit), and Regional Forecast, 2020-2027,” the market was worth USD 2.77 billion in 2019 and will exhibit a CAGR of 7.17% during the forecast period, 2020-2027.

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