Hydrographic Survey Equipment Market Size, Share & Industry Analysis, By Type (Sensing System, Positioning System, Subsea Sensor, Unmanned Vehicle, Software), By Application (Port & Harbor, Oil & Gas, Cable, Charting), By Depth (Shallow Water, Deep Water), By Platform (Surface Vessels, USVS & UUVS, Aircraft), By End User (Commercial, Research, Defense)And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Hydrographic survey equipment is a technologically advanced survey unit used to determine depth estimation in water. Bathymetric surveys achieved the hydrographic survey. The primary application of hydrographic surveying are dredging analysis, wreck location, and waterway planning. Hydrographic survey equipment is used to analyze bathymetry and its primary output- bathymetric charts. Bathymetric charts are producing contour lines to reflect relative terrain relief.
The factors are expected to drive the market are the rise in maritime commerce and transport. Moreover, offshore renewable wind energy projects across the globe are anticipated to boost the market. The technological advancements in hydrographic survey equipment are an upcoming opportunity for the market. However, fluctuations that occurred in the oil & gas industry are hampering the market growth.
Key Market Driver -
• Rise in Offshore Renewable Wind Energy Projects • Increase in the Use of autonomous underwater vehicle (AUV)
Key Market Restraint -
• High Investment Cost and Seasonal Demand Affecting Sales of Hydrographic Survey Equipment
Market Segmentation:
By type, the market is segmented into sensing system, positioning system, subsea sensor, unmanned vehicle, and software. Based on the application, the market is categorized into port & harbor, oil & gas, cable, charting. Based on depth, the market is classified as shallow water and deep water. Based on the platform, the market is classified as surface vessels, USVS & UUVS, and aircraft. Based on end user, the market is classified as commercial, research, and defense. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Key Players Covered:
Major key players that are present in the hydrographic survey equipment market are Edgetech (The U.S.), INNOMAR Technologie GmbH (Germany), iXblue SaS (France), Kongsberg Maritime (Norway), Sonardyne International (The U.K.), SyQwest Inc. (The U.K.), Teledyne Technologies (The U.S.) and among others.
Key Insights
- A Rise in Offshore Oil and Gas Exploration Expenditure
- A Rise in Maritime Commerce and Transport
Regional Analysis:
The hydrographic survey equipment market is analyzed across four major regions North America, Europe, Asia Pacific, and Rest of the World. At present, North America is expected to steer the hydrographic survey equipment market during the forecast period. This growth is owing to the presence of key players, which include Edgetech, Teledyne Technologies, and others.
The Asia Pacific is projected to capture a significant market share of the market during the forecast period. This market growth is owing to the growing adoption of hydrographic survey equipment from the emerging economy such as China and India to survey the physical characteristics present in the water. The growing demand for offshore drilling, dredging, and marine construction analysis is expected to refuel the market growth.
Europe also exhibits significant growth in the market. This growth is attributed to key players' presence, including INNOMAR Technologie GmbH, iXblue SaS, Kongsberg Maritime, and others. The Rest of the World registers significant growth during the forecast period. This growth is attributed to the growing demand for hydrographic survey equipment in South America and Middle East & Africa for port & harbor services, the oil & gas industry, cable, and charting services.
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Segmentation
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Hydrographic Survey Equipment Market Industry Developments
- In March 2021, The Royal Navy (The U.K.) had tested cutting-edge software to map the seabed. The HMS Magpie (survey vessel) was able to chart the waters around Plymouth purely by using the technologically advanced Radar-based bathymetric survey system. The installed radar system was installed with specialized computer program which measures wave height.
- In February 2020, Kongsberg Maritime and Indian National Institute of Ocean Technology (NIOT) had signed a contract for the sale of a HUGIN AUV system to the NIOT. The HUGIN AUV system ordered by NIOT was equipped with a EM2040 multiband echo sounder, specially designed for seabed and hydrographic applications.
- Ongoing
- 2023
- 2019-2022
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