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Sonobuoy Launcher Market International Growth Scenario with 5.5% of CAGR by 2027 – L3Harries, Aurora Flight Sciences, JSK Naval Support

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Sonobuoy Launcher Market International Growth Scenario with 5.5% of CAGR by 2027 – L3Harries, Aurora Flight Sciences, JSK Naval Support

January 21
17:00 2021
Sonobuoy Launcher Market International Growth Scenario with 5.5% of CAGR by 2027 - L3Harries, Aurora Flight Sciences, JSK Naval Support

Sonobuoy Launcher Market 2020-2027 Key Industry Players are 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, Ultra Electronics
According to our latest market study on “Sonobuoy Launcher Market Forecast to 2027 – COVID-19 Impact and Global Analysis; it is expected to grow at a CAGR of 5.5% from 2020 to 2027. The report highlights the key factors driving the market growth, and prominent players and their developments in the market.

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.

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.        

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COVID-19 Impact on Sonobuoy Launcher Market

According to World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are among the worst-affected countries due to COVID-19 outbreak. In the wake of strong lockdown regulations imposed by the majority of the countries in the world, the defense equipment manufacturing industry is facing issues with the availability of labors. Also, the outbreak of the virus has disrupted the supply chain and manufacturing of defense equipment. However, the defense industry is likely to recover from the impact of COVID-19 in short time compared to other industries. Various defense forces are awarding contracts for armored vehicles and other equipment manufacturers. The production of the launcher system would start at a slower pace in late 2020 and is anticipated to gain pace from 2021, which is further foreseen to be beneficial for the manufacturers of defense equipment such as sonobuoy launchers.

Due to remarkable rise in submarine warfare, countries are focusing more on adopting maritime patrol vessels, thus increasing the use of sonobuoy in antisubmarine warfare. This would directly trigger the adoption of sonobuoy launchers as well. Moreover, the rising defense budgets in the emerging countries for developing advanced technologies to ensure nationals security is another factor supporting the growth of the sonobuoy launcher market. Further, the integration of the combat management systems and sonobuoy launchers for improving anti-submarine warfare capabilities would benefit the sonobuoy launcher manufacturers worldwide.

Technologies act as the most important shield to protect nations from potential threats such as maritime threats. Antisubmarine warfare are used by naval forces to combat underwater threats. They leverage the underwater acoustic surveillance technology with aircraft carriers and patrol vessels to carry out critical maritime operations. Therefore, the growing adoption of underwater acoustic surveillance systems is supporting the growth of the sonobuoy launcher market. The development of sonobuoy launchers for UAVs is a major business opportunity for the market players. However, the long lifespan of sonobuoy launchers and availability of other submarine detection technologies hinder the growth of the sonobuoy launcher market.

Strategic Insights

The sonobuoy launcher market players focus on product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

  • In 2019, SEA CORP was awarded a five-year follow-on contract supporting Navy Strike Systems. As per the contract, which was worth US$ 70 million, the company will provide engineering services, technical services, and materials to the Undersea Warfare (USW) Combat Systems Department of the Naval Undersea Warfare Center in Newport.
  • In 2019, Ultra Electronics Command & Sonar Systems became the preferred bidder to the UK Ministry of Defence to provide the in-service support for its Surface Ship Torpedo Defence (SSTD) system for the next decade.

 

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