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The growth of the global demand for sonobuoys is driven primarily by the growing maritime industry. Aircraft and ship technicians need to constantly track these received signals in order to avoid future threats. Monitoring and analysis of acoustic signals emitted by these sonobuoys involves the jobs of trained technicians. The passive sonobuoy segment is expected to account for the highest market share of revenue in the coming years due to the fact that passive sonobuoys can be detected without disclosing their existence to the target. The active sonobuoys segment is expected to account for the second largest market share of revenue in the forecast period due to the fact that active sonobuoys are used to locate and track targets.
The rising competition among the key players together with the advancing technology has also been aiding the market growth. Thales SA (OTCMKTS: THLLY), one of the leading key players, announced that it started working on a new sonobuoy system named Sono-Flash, which would incorporate both active and passive modes in a single buoy. This boosted the demand of the product in the global industry.
Market Analysis by Function, Market Size, Range, Installation Type, Applications, and Regions:
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The major players in the global sonobuoy market are Sparton Corporation, Thales Group, Radixon Group, and Ultra Electronics Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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