Market Overview:
Hydrographic survey equipment market overview is projected to reach USD 3,760 Million by 2030 and register a CAGR of 5.41%.
Due to factors such as increased maritime trade and demand for detailed nautical maps, the global hydrographic survey equipment market is poised to register substantial growth during the forecast period. In addition, it is also anticipated that the increasing use of UUVs and UPSs to perform hydrographic and oil & gas surveys would fuel market development. Furthermore, hydrographic survey vessels are gradually being embraced by many countries around the world to construct nautical charts, which are expected to fuel market growth. Operations such as underwater search and rescue, emergency relief, explosives disposal, and restricted mine countermeasures may be undertaken by the boats.
Factors such as tight legislation placed in place by government authorities to carry out hydrographic surveys, high investment costs and a shortage of technological experience in hydrographic surveys are, however, likely to impede hydrographic survey equipment market trends.
Market Segmentation:
By type, sensing devices, positioning systems, subsea sensors, applications, and unmanned vehicles, the global hydrographic survey equipment industry. In 2019, due to the increased marine trade activities in developing economies, the sensing systems segment dominated the market. In addition, during the forecast period, the category of unmanned vehicles is predicted to record the highest CAGR.
The worldwide demand for hydrographic survey services, by depth, shallow water and deep water. The global hydrographic survey equipment market overview was dominated by the shallow water segment in 2019 while the unmanned deep water segment is expected to rise due to growing demand from the commercial sector for unmanned vehicles.
The global market for hydrographic survey tools, hydrographic mapping, offshore oil & gas survey, port and harbour management, coastal infrastructure, and other applications. The market was led in 2019 by the offshore oil & gas survey segment, and during the forecast period it is expected to record the highest CAGR. Increasing investments by emerging economies such as India, China, South Korea, and Brazil in offshore oil & gas exploration activities are driving the segment 's growth.
End-user, commercial, research, and defense, the global hydrographic survey equipment industry. This market has been dominated by the commercial segment and is projected to expand at the highest CAGR during the forecast period. In addition, growing efforts by government bodies to provide better survey facilities are projected to accelerate the development of the research sector.
Key Players:
Some of the major hydrographic survey equipment market drivers are Kongsberg Gruppen ASA (Norway), Chesapeake Technology (US), EdgeTech (US), Environmental Systems Research Institute, Inc. (ESRI) (US), Innomar Technologie GmbH (Germany), Ixblue SAS (France), Mitcham Industries Inc. (US), Saab AB (Sweden), Sonardyne International Ltd. (UK), Ixblue SAS (France)
Regional Analysis:
In North America, owing to the involvement of leading technology firms such as Teledyne Technologies Inc. and Mitcham Industries Inc., the global hydrographic survey equipment industry dominated in 2019.
The presence of prominent suppliers of hydrographic survey equipment is expected to fuel the region's hydrographic survey equipment market industry growth.
In this region, the Asia-Pacific hydrographic survey equipment market overview is projected to record the highest CAGR during the forecast period. Increased maritime trade between developing countries such as India and China is driving the region's business growth.
Increasing spending by leading oil & gas firms in hydrographic survey equipment in the Middle East & Africa is poised to fuel business growth in the field.
The growing number of deepwater activities in countries such as Brazil and Mexico in Latin America is expected to increase the market for hydrographic survey equipment in the region.
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