The report profiles the key players in the sonobuoy market, such as Sparton Corporation (U.S.) and Ultra Electronics Group (U.K.). These companies account for a share of more than ~80.0% in the sonobuoy market. These companies also have manufacturing facilities across key regions, such as North America and Europe, with a strong distribution network. The sonobuoy market has been witnessing increasing consolidation over the years.
Ultra Electronics is the leading provider of sonobuoys and provides integrated sonar systems, which also comprise active and passive sonobuoys. The company has developed an exceptionally broad range of specialist capability areas by utilizing such differentiated solutions for a wide range of international platforms and programs.
Sparton Corporation is another major player in the sonobuoy market. It offers sonobuoys for the U.S. Navy and foreign governments that meet the licensing requirements of the Department of State. This company develops sonobuoys according to the stringent military specifications and is restricted by International Tariff and Arms Regulations (ITAR) and qualified by the U.S. Navy, which limits opportunities for competition.
Sparton Corporation and Ultra Electronics Group were awarded subcontracts which were valued at USD 16.1 million for active and passive sonobuoys, through their ERAPSCO/SonobuoyTech Systems joint venture, in October 2015. These companies receive the majority of their contracts through ERAPSCO. The contracts for sonobuoys are distributed between these two companies through a 50:50 joint venture. The joint venture between Sparton Corporation and UnderSea Sensor Systems Inc. operates under the name of ERAPSCO, which allows these two companies to combine their own unique and complementary backgrounds to jointly develop and manufacture sonobuoy designs for the U.S. Navy as well as foreign countries that are compatible with the U.S.
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While the joint venture provides the opportunity to maximize efficiencies in the design and development of related sonobuoys, both venture companies function independently as subcontractors as well. Besides mergers & acquisitions, companies adopted the strategy of supply contracts and new product launches to improve their market share and product offerings for the global sonobuoy market.