Naval Sonar Market Valued Over US$25 Billion from 2008 – 2017
Documental Solutions, a leading provider of market intelligence and analysis tools for the defence industry, estimates that the naval sonar market will be valued at nearly $3 billion per year from 2008 – 2012 and will grow to $25.9 billion in the period 2008 – 2017.
According to their analysis, the sonar market includes:
- Sonars installed or deployed from military platforms, or operated by military organizations, for the purposes of surveillance, detection, tracking, weapon targeting and other military-unique underwater operations (e.g. under-ice navigation);
- Development (government funded), production, and support programs;
- Service and Support contracts.
Market research sources include government budget and planning documents and websites, news publications and periodicals, press releases, industry and program reports, company and analyst reports, conference proceedings, defence association reports and primary research.
Founded in 1999, Documental Solutions, LLC is a leading provider of market intelligence and analysis tools for the defence and aerospace industry. IHS Inc. (NYSE:IHS), a leading global source of critical information and insight, acquired Documental Solutions LLC in September 2008 and plans to integrate it with Jane’s Information Group – acquired by IHS in 2007 – as part of the IHS Security domain.
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