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US Sonar Systems and Technology Market Research Report Information by Product Type (Hull-Mounted Sonar, Stern-Mounted Sonar, Dipping Sonar, and Sonobuoy), Mode of Operation (Active, Passive and Dual), Solution (Hardware and Software), Application (Defense [Anti-Submarine Warfare, Port Security, Diver Detection, Mine Detection, and Countermeasure Systems, Search & Rescue ] Commercial [Fisheries, Hydrography, and Navigation]) and Region (North America, Europe, Asia-Pacific, Middle East Africa and Latin America) - Forecast 2030

ID: MRFR/A&D/11487-US | 100 Pages | Author: Garvit Vyas| December 2023

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US Sonar Systems Technology Market Overview

North America was at the forefront of the market in 2017, holding the biggest share of about 31.83%, which accounted for a market value of approximately USD 129.8 million. Experts foresee a consistent growth trajectory for North America, with an estimated yearly increase of around 6.74% throughout the forecast period. Europe was the second-largest market player in 2017, boasting a market share valued at USD 95.7 million. While Europe's presence was significant then, the anticipated growth rate for the region is slightly lower, projected at around 6.64% for the forecast period. However, the Asia-Pacific region emerges as the beacon of substantial growth potential, slated to experience the highest forecasted Compound Annual Growth Rate (CAGR) of 7.14%. Despite a smaller initial market share, the expected rapid expansion indicates the Asia-Pacific region's increasing importance and market influence. North America led the charge in 2017, capturing the biggest portion of the market pie, clocking in at nearly 32% and raking in a significant USD 129.8 million. The experts predict that this region will continue its upward trajectory, growing steadily at an annual rate of approximately 6.74%. Europe was a strong contender, securing the second spot in 2017 with a market value of USD 95.7 million. However, although their foothold was considerable then, their anticipated growth rate is expected to be marginally slower at 6.64%. On the flip side, Asia-Pacific is gearing up for an impressive surge with an expected growth rate of 7.14%. This projected growth signifies a remarkable leap forward compared to other regions. In 2017, North America held the lion's share of the market at nearly 32%, amounting to a substantial USD 129.8 million. Now, experts predict that this region will continue its upward trend, growing at a steady pace of about 6.74% annually. Europe, on the other hand, secured the second position in 2017 with a market value of USD 95.7 million. While their presence was notable then, their growth rate for the forecasted period is estimated to be slightly lower at 6.64%. However, the Asia-Pacific market is set to experience an impressive growth rate of 7.14%, signaling significant potential for expansion. North America was the market leader in 2017, securing a significant share of almost 32%, with a value of about USD 129.8 million. Analysts predict a steady growth pattern for this region, expecting it to increase by approximately 6.74% each year.

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