Sep 16, 2020   SOURCE: BusinessWire

Global Sonobuoy Launcher Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Sonobuoy Launcher Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Multiple Rotary Launch System and Single Launch System), Ejection Platform (Aircraft and Ships), and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US$ 169.79 million in 2019 and is projected to reach US$ 261.93 million by 2027; 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 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.

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.

Reasons to Buy:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global sonobuoy launcher market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global sonobuoy launcher market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Focus on Anti-Submarine Warfare (ASW) is Stimulating the Growth
  • Growing Defense Budgets and Expenditures is Boosting the Demand

Restraint

  • Lifespan of Sonobuoy Launchers and Availability of Other Submarine Detection Technologies

Opportunity

  • Development of Sonobuoy Launchers for UAVs

Future Trends

  • Integrating Sonobuoy Launchers with Combat Management System

Companies Profiled

  • Alkan
  • GeoSpectrum Technologies Inc.
  • L3Harris Technologies, Inc.
  • Aurora Flight Sciences
  • JSK Naval Support Inc.
  • Marshall Aerospace and Defence Group
  • MES S.p.A.
  • Systems Engineering Associates Corporation (SEA CORP)
  • SAES
  • Ultra Command & Sonar Systems (Ultra Electronics Group)

For more information about this report visit https://www.researchandmarkets.com/r/e59288