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Global sonobuoy market to reach $317M

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150306-N-MV308-432 KANEOHE BAY, Hawaii (March 6, 2015) – Naval Aircrewman (Avionics) 3rd Class Patrick Schwarz, assigned to the “Golden Eagles” of Patrol Squadron (VP) 9, checks sonobuoys on a P-3C Orion maritime patrol aircraft during a torpedo exercise (TORPEX) as part of the squadron’s Advanced Readiness Program (ARP The hard work and dedication of VP-9 was recently acknowledged when the command was notified that they had earned the 2014 Commander Naval Air Forces, Pacific (CNAP) Battle “E” award, the Navy’s top performance award presented to the commands that achieve the highest standards of performance readiness and efficiency. (U.S. Navy photo by Mass Communication Specialist 3rd Class Amber Porter/Released)

The global sonobuoy market will reach $316.6 million by 2020, according to a forecast by research firm MarketsandMarkets. This reflects a compound annual growth rate of 6.96 percent from $226.1 million in 2015.

“Factors that drive the global sonobuoy market include the increased focus by countries on strengthening their anti-submarine warfare capabilities, increase in efficiency of sonobuoys due to various technological advancements, and the rise in maritime disputes in Asia-Pacific,” the report said. Increasingly stealthier submarines will also fuel more sonobuoy spending.

The sharpest growth will be in the Asia-Pacific region, including a rise in China’s sonobuoy spending.

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Michael Peck is a correspondent for Defense News and a columnist for the Center for European Policy Analysis. He holds an M.A. in political science from Rutgers University. Find him at theuncommondefense.com. His email is mikedefense1@gmail.com.