Latin America Sonar System Market Size & Outlook, 2023-2030
The sonar system market in Latin America is expected to reach a projected revenue of US$ 330.3 million by 2030. A compound annual growth rate of 3.8% is expected of Latin America sonar system market from 2024 to 2030.
Revenue, 2023 (US$M)
$254.1
Forecast, 2030 (US$M)
$330.3
CAGR, 2024 - 2030
3.8%
Report Coverage
Latin America
Latin America sonar system market highlights
- The Latin America sonar system market generated a revenue of USD 254.1 million in 2023.
- The market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
- In terms of segment, hull-mounted was the largest revenue generating product in 2023.
- Hull-Mounted is the most lucrative product segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 254.1 million |
| Market revenue in 2030 | USD 330.3 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Hull-mounted |
| Fastest growing segment | Hull-Mounted |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hull-Mounted |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.1% of the global sonar system market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,047.2 million by 2030.
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SONAR System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sonardyne International | View profile | 251-500 | Blackbushe, Hampshire, United Kingdom, Europe | http://sonardyne.com |
| ATLAS ELEKTRONIK | View profile | 1001-5000 | Bremen, Bremen, Germany, Europe | https://www.atlas-elektronik.com/atlas-elektronik/ |
| Raytheon Systems Ltd | View profile | - | Waltham, Massachusetts, United States, North America | https://www.raytheon.com/uk |
| Furuno Electric Co Ltd | View profile | 3356 | 9-52 Ashihara-cho, Hyogo Prefecture, Nishinomiya City, Japan | http://www.furuno.co.jp |
| Kongsberg Gruppen ASA | View profile | 13602 | Kirkegardsveien 45, Kongsberg, Norway, N-3616 | https://www.kongsberg.com |
| Teledyne Technologies Inc | View profile | 14900 | 1049 Camino Dos Rios, Thousand Oaks, CA, United States, 91360-2362 | https://www.teledyne.com |
| Lockheed Martin Corp | View profile | 122000 | 6801 Rockledge Drive, Bethesda, MD, United States, 20817 | https://www.lockheedmartin.com |
| Ultra Electronics Holdings | View profile | 1001-5000 | London, England, United Kingdom, Europe | https://www.ultra.group/ |
| Thales | View profile | 81000 | 4, rue de la Verrerie, Meudon, France, 92190 | https://www.thalesgroup.com |
| L3Harris Technologies Inc | View profile | 50000 | 1025 West NASA Boulevard, Melbourne, FL, United States, 32919 | https://www.l3harris.com |
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