Hydrographic Survey Equipment Market worth 3.62 Bn USD by 2021

Tuesday 28 June 2016, Amsterdam

The report, now available on ASDReports, "Hydrographic Survey Equipment Market by Type (Positioning Systems, Acoustic Underwater Systems, Others), Application (Seabed Feature Mapping, Port & Harbour Management, Dredge Operations, Others), Platform and Region - Global Forecast to 2021", The total market is projected to reach USD 3.62 Billion by 2021, at a CAGR of 5.43% during the forecast period. Rise in maritime commerce, increase in demand for accurate nautical charts, and coastal zone management & development is expected to drive the hydrographic survey equipment market.

Acoustic Underwater Systems segment to dominate the hydrographic survey equipment market

The global hydrographic survey equipment market has been analyzed and segmented into five segments namely, positioning systems, acoustic underwater systems, non-acoustic marine geophysical systems, oceanographic system & samplers, and others. The acoustic underwater systems segment is expected to dominate the overall market in terms of market size, and is estimated to exhibit a similar trend during the next five years owing to the need for accurate nautical charts. In addition, there has been an increase trade activities in emerging countries. Thus, the acoustic underwater systems segment is estimated to witness growth in the hydrographic survey equipment market.

Cable/pipeline route survey application to witness high growth during the forecast period

The global hydrographic survey equipment market, by application, has been segmented into seven subsegments namely, hydrographic survey, seabed feature mapping, port & harbor management, dredge operations, offshore oil & gas survey, cable/pipeline route survey, and charting application. The cable/pipeline route survey subsegment is estimated to register the highest CAGR rate among all applications due to high demand from oil & gas, energy & power as well as telecommunication industries. These surveys accurately examine the topography of the seafloor, thereby identifying optimum routes and anchoring zones. The market for cable/pipeline route survey application is the largest in North America and Europe, owing to the developed oil/gas exploration market in these regions.

Hydrographic survey equipment market in the APAC region to grow at the highest rate during the forecast period

The hydrographic survey equipment market in the APAC region is expected to grow at the highest CAGR between 2016 and 2021 following rise in maritime trade in emerging economies, such as India and China. Coastal zone development as well as its management are also important factors fueling the growth of the market in this region.

Thales Group (France): One of the key players in the hydrographic survey equipment market

The major players in this market are Thales Group (France), Teledyne Technologies, Inc. (United States), The Raytheon Company (Germany), Kongsberg Gruppen ASA (Norway), and Fugro (Netherlands).