February 25, 2021 11:14 am
Sonobuoy Launcher Market Competition Status, Emerging Trends, Growth Factors, Value Chain, And Key Players Alkan, Geospectrum Technologies, L3Harries, Aurora Flight Sciences, JSK Naval Support, Marshall Aerospace and Defence Group
By Prashant Tambe
The sonobuoy launcher market was valued US$ 169.79 million in 2019 and is expected to reach US$ 261.93 million by 2027; it is estimated to grow at 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. Get Sample Copy Of This Report@https://www.theinsightpartners.com/sample/TIPRE00010252/ 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 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. However, several countries such India and Thailand have announced reduced defense expenditure due to the impact of the pandemic on their respective economies; a majority of governments are rather focusing on investing in the measures to contain the spread of the virus. This factor is also anticipated lower the production of various defense equipment, including sonobuoy launchers, in late 2020. Warfare has drastically changed over the years, and it modernization continues every year. Naval warfare, including both surface and underwater warfare, has significantly risen over the years. Naval forces worldwide are observing notable growth in submarine warfare, which creates high demand for antisubmarine warfare. To successfully conduct antisubmarine warfare (ASW), the adoption of maritime patrol aircraft (MPA) and patrol vessels, capable of launching sonobuoy, is growing substantially. Surge in newer orders for MPA and patrol vessels is generating greater demands for sonobuoy launchers. Reason To Buy:
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