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The hydrographic survey equipment market is projected to grow at a CAGR of 5.39% during the forecast period
The hydrographic survey equipment market is projected to grow from an estimated USD 2.11 billion in 2017 to USD 2.74 billion by 2022, at a CAGR of 5.39% from 2017 to 2022 during the forecast period. Growth in this market is attributed to the rise in maritime commerce and transport, and increase in the use of AUV and ROV. However, factors including stringent standards implemented by government authorities for the execution of hydrographic surveys and the high cost associated with as well as the lack of technical expertise in undertaking hydrographic surveys is expected to restrain the growth of the hydrographic survey equipment market in the near future.
Based on type, the unmanned vehicles segment is projected to be the fastestgrowing market during the forecast period
Based on type, the unmanned vehicles segment is estimated to lead the hydrographic survey equipment market in 2017. Growth in this market is attributed to the increasing demand for unmanned vehicles in the commercial exploration of oil gas, ongoing technological advancements in the field of autonomous underwater vehicles.
Based on depth, the shallow water segment is estimated to account for the largest share in the hydrographic survey equipment market in 2017
Based on depth, the shallow water segment is estimated to lead the hydrographic survey equipment market in 2017, which can be attributed to updating of nautical charts on a regular basis as shallow waters are used for maritime commerce and fishing. Shallow water operations are typically less expensive compared to deep water operations. Thus, recovering oil prices are expected to lead to faster increase in offshore activity in shallow water basins compared to deep water ones. North America is expected to lead in the shallow water segment during the forecast period, largely by the US in the Gulf of Mexico.
North America was the largest market for hydrographic survey equipment in 2016 North America led the hydrographic survey equipment market in 2016, which has been studied for the US and Canada. The US leads the hydrographic survey equipment market in North America. Factors responsible for the leading position of North America are the increase in maritime commerce, oil and gas explorations, subsea surveying, dredging activities for construction, and increase in RD for technological advancements in hydrographic survey equipment by major players.
Breakup of the profile of primary participants for this report:
By Company Type: Tier 1 35%, Tier 2 45%, Tier 3 20%
By Designation: C level 35%, Director level 25%, Others 40%
By Region: Europe 30%, North America 25%, Asia Pacific 25%, Middle East and Africa 15%, Latin America 5%
Major players in the hydrographic survey equipment market are Kongsberg Maritime Norway, Teledyne Technologies US, INNOMAR Technologie GmbH Germany, Edgetech US, Sonardyne International UK, iXblue SaS France, and SyQwest Inc. UK, among others.
The study segments the hydrographic survey equipment market on the basis of type sensing systems, positioning systems, subsea sensors, software, unmanned vehicles, and others, depth shallow water, deep water, platform surface vehicles, UUVs USVs, and aircraft, application charting application, offshore oil gas survey, port harbor management, cable/pipeline route survey, hydrographic/bathymetric survey, and others, end user commercial, research, defense, and region North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report provides indepth market intelligence regarding the market dynamics and major factors that influence the growth of the hydrographic survey equipment market drivers, restraints, opportunities, and industryspecific challenges, along with an analysis of micromarkets with respect to individual growth trends, future prospects, and their contribution to the hydrographic survey equipment market.
Reasons to buy the report:
From an insight perspective, this research report focuses on various levels of analyses industry analysis industry trends; market share analysis of top players; company profiles; emerging and highgrowth segments of the market; highgrowth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the hydrographic survey equipment offered by top players in the market
Market Sizing: Market size for the financial year 20152016 and projection of the market size from 2017 to 2022
Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, and new product launches in the hydrographic survey equipment market
Market Overview: Market dynamics and subsequent analyses of associated trends, drivers, restraints, and opportunities prevailing in the hydrographic survey equipment market
Market Development: Comprehensive information about lucrative markets with an analysis of markets for hydrographic survey equipment across various regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the hydrographic survey equipment market
Regional Analysis: Factors influencing market shares of North America, Europe, Asia Pacific, Latin America, and Middle East and Africa
Competitive Assessment: Indepth assessment of strategies, products, and manufacturing capabilities of leading market players
Original Article: Hydrographic Survey Equipment Market by Type Sensing System, Positioning System, Subsea Sensor, Unmanned Vehicle, Software, Application Port Harbor, Oil Gas, Cable, Charting, Depth, Platform, End User, and Region Global Forecast to 2022 [Report UpdatedNEXT ARTICLE