Market Share of Sonobuoy Industry
The sonobuoy market is moderately consolidated, with a few players holding significant shares. Some prominent market players include Ultra Electronics, Thales Group, L3Harris Technologies Inc., Lockheed Martin Corporation, Kongsberg Gruppen, and Raytheon Technologies Corporation. With growing competition, key original equipment manufacturers (OEMs) are focusing on introducing next-generation solutions for commercial and defense applications. Additionally, OEMs will enter into long-term contracts with naval forces to provide advanced sonobuoy systems, which will help them expand their business.
For instance, in March 2021, the French Navy signed a contract with Thales Group to provide the SonoFlash, a new generation sonobuoy. It is coupled with the FLASH dipping sonar, which enables an aircraft to expand its coverage area and respond with greater agility to evasive maneuvers by a submarine. The delivery of the SonoFlash sonobuoy will be completed by 2025.
Sonobuoy Market Leaders
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L3Harris Technologies Inc.
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Thales Group
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Sparton
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Lockheed Martin Corporation
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Ultra
*Disclaimer: Major Players sorted in no particular order
