Latin America Sonar System Market Size & Outlook
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)
$330.3
CAGR, 2024 - 2030
3.8%
Report Coverage
Latin America
Latin America sonar system market, 2018-2030 (US$M)
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 Scope
Sonar system market segmentation & scope
Platform
Ship Type
Airborne
Application
Defense
Commercial
Countries
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
UAE
Kuwait
SONAR System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America sonar system market
Related regional statistics
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