Global Sonobuoy Market Forecast to Reach US$420.9 Million by 2027, Amid COVID-19 Crisis

DUBLIN, Sept. 21, 2020 /PRNewswire/ -- The "Sonobuoy - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Sonobuoy estimated at US$287.4 Million in the year 2020, is projected to reach a revised size of US$420.9 Million by 2027, growing at a CAGR of 5.6% over the analysis period 2020-2027. Bathythermo Buoy, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$86.7 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Search and Rescue Buoy segment is readjusted to a revised 5.7% CAGR for the next 7-year period.

The Sonobuoy market in the U. S. is estimated at US$84.8 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$74 Million by the year 2027 trailing a CAGR of 5.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 4.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR.

In the global Directional Command Activated segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$26.3 Million in the year 2020 will reach a projected size of US$38.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$48.3 Million by the year 2027. 

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

• General Dynamics Mission Systems, Inc.
• Lone Star Electronics Co.
• RADIXON Group Pty. Ltd.
• SeaLandAire Technologies, Inc.
• Sparton Corporation
• Thales Group
• Ultra Electronics

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Global Competitor Market Shares
• Sonobuoy Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/63c8s1

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