Sonobuoy Launcher Market is Valued at USD 270.07 million at a CAGR of 5.55% During the Forecast Period 2027Posted by Anna Green on October 17th, 2022 According to the latest research report published by The Insight Partners, titled “Sonobuoy Launcher Market Forecast to 2027—COVID-19 Impact and Global Analysis,” the market is expected to reach US$ 261.93 million by 2027, registering a CAGR of 5.5% during 2020–2027. The procurement of maritime patrol aircraft integrated with sonobuoy and antisubmarine warfare technologies is at a constant rise. The increase in the need of marine patrol aircraft with these technologies is generating substantial demand for sonobuoy launchers among MPA manufacturers. Apart from fixed-wing aircraft, several rotary-wing aircraft or helicopters are also being adopted and inducted as maritime patrol aircraft integrated with sonobuoy launchers. Recently, the US Navy, South Korean Navy, and New Zealand Navy awarded a contract to Boeing to deliver 18 units of P8 Poseidon MPA integrated with sonobuoy launchers for respective naval surveillance. The rise in adoption of sonobuoy launcher in the aircraft is creating significant opportunities for sonobuoy launcher providers. The sonobuoy launcher market for aircraft segment is expected to reach US$ 134.14 million by 2022. Know latest Innovation & Development in Sonobuoy Launcher Market Increase in the procurement of aircraft carriers is anticipated to impact the use of sonobuoy, directly influencing the adoption of launchers. For instance, in February 2020, the UK procured nine units of P-8 Poseidon. The P-8 Poseidon is used to conduct antisurface warfare, antisubmarine warfare, and shipping interdiction operations. The UK dominated the sonobuoy launcher market in 2019. The rise in demand for sonobuoys for maritime helicopters and maritime patrol aircraft, and antisubmarine warfare missions would boost the use of sonobuoy launching systems at a large scale. The country has 22 patrol vessels and 2 aircraft carriers that demand sonobuoy for maritime operations. The defense manufacturing industry is heavily dependent on the availability of manpower. Owing to lockdowns imposed by most countries in the world, to control the spread of COVID–19, the defense equipment manufacturing industry is experiencing shortage of labors in several manufacturing facilities Also, as per the global firepower Index, the UK, Russia, and France are a few the European countries having maximum number of submarines and frigates within their territory. This large number of naval vessels leads to the greater needs for sonobuoy systems for ensuring high underwater security. This aspect would increase the demand of sonobuoy launching systems among the naval forces in the Asian market. In Europe, France is anticipated to register the highest CAGR in the sonobuoy launcher market. The country is relatively open for overseas investors and has extended its control on foreign investments. Massive investments related to defense technologies would help trigger the growth of the market. Another aspect supporting the growth of the sonobuoy launcher market is imprint of Alkan, Thales Group, and Airbus Military companies. For instance, Thales Group is one more company putting efforts on developing new sonobuoy system called as- the Sono-Flash. This device will combine passive and active modes in a single buoy. Such developments at a huge scale are expected to increase the growth of sonobuoy launcher in France. Alkan, Geospectrum Technologies Inc., L3Harries, Aurora Flight Sciences, JSK Naval Support Inc., Marshall Aerospace and Defence Group, MES S.P.A., Systems Engineering Associates Corporation, SAES, and Ultra Electronics are among the leading players operating in the market. The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: Like it? Share it! More by this author |