IMARC Group, a leading market research company, has released a report titled “Hydrographic Survey Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global hydrographic survey equipment market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.78% during 2023-2028.
Hydrographic survey equipment includes software and hardware components. It can be installed on autonomous underwater vehicles (AUVs), unmanned underwater vehicles (UUVs), large ships and small crafts. It assists in producing detailed plans of harbor, seabed and waterway showcasing shapes, contours, and depths. As a result, its demand is rising around the world.
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Hydrographic Survey Equipment Market Trends and Drivers:
Presently, there is a considerable increase in maritime trade across the globe. This, in confluence with the rising demand for accurate nautical charts, represents one of the key factors strengthening the market growth. Apart from this, hydrographic survey equipment is increasingly being utilized in offshore industries like oil and gas. This, along with numerous technological advancements, such as the incorporation of 3D and 4D technologies in hydrographic studies, is acting as another growth-inducing factor. However, the outbreak of the contagious coronavirus disease (COVID-19) and subsequent impositions of lockdown restrictions have resulted in the temporary closure of the ports. The market is anticipated to recover losses on account of the growing development of offshore marine infrastructure fields.
The report has segmented the market into the following categories:
Breakup by Type:
- Sensing Systems
- Positioning Systems
- Subsea Sensors
- Unmanned Vehicles
Breakup by Depth:
- Shallow Water
- Deep Water
Breakup by Platform:
- Surface Vessels
- USVs and UUVs
Breakup by Application:
- Hydrographic or Bathymetry Survey
- Port and Harbor Management
- Offshore Oil and Gas Survey
- Cable or Pipeline Route Survey
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Innomar Technologie GmbH
- iXblue SAS
- Kongsberg Gruppen ASA
- Raytheon Technologies Corporation
- Sonardyne International Ltd.
- SyQwest Incorporated
- Teledyne Technologies Inc.
- Topcon Corporation
- Tritech International Limited (Moog Inc.)
- Valeport Ltd.
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