General question about ARM/DSP combination for timing generation

I am designing a sonar system that uses pulse to pulse coherent detection.  The components of the system run under the control of a master clock, and a number of timing signals based on that clock have to be provided to these components to maintain coherence - for example, pulse generation, data sampling strobes.  My original plan was to use a DSP to process the data and an FPGA to provide the timing for the system.  But I am wondering if the ARM core of one of the OMAP-L13x processors might be able to do the timing generation job, thus eliminating the need for the FPGA.  Can any of the experts looking at this forum give me an opinion on this idea?