Echo Sounder Market: Key Players, Competitive Landscape, and Strategies 2032

The global echo sounder market size was USD 5.33 Billion in 2022 and is expected to register a revenue CAGR of 6.8% over the forecast period, according to the latest report by Reports and Data.

Echo sounders come in a variety of configurations, such as single-beam, multi-beam, and Compressed High-Intensity Radar Pulse (CHIRP) systems, each having unique advantages and applications. Due to the advancement of new technologies like CHIRP, echo sounders' capabilities have expanded and they are now more flexible for a larger range of applications.

The desire for more precise and effective fish detecting and tracking systems, as well as underwater mapping and exploration, is what is driving the market for echo sounders to increase in revenue. Another factor boosting market revenue growth is the rising need for offshore oil and gas exploration and production.

The growth in revenue of the echo sounders market is primarily driven by an increase in demand for accurate and efficient underwater mapping and exploration. Echo sounders are in high demand for various applications such as hydrographic surveys, offshore oil and gas exploration, and environmental monitoring. Another significant factor driving revenue growth of the market is the increasing demand for fish finding and tracking systems.

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Some Key Highlights from the Report

Throughout the projected period, the Multi-beam echo sounder segment is predicted to account for the majority of revenue. High-resolution underwater mapping is possible using multi-beam echo sounders. Underwater mapping with high resolution is in high demand for a range of applications, including hydrographic surveys, environmental monitoring, and offshore drilling. These systems use many beams to cover a bigger region and build a comprehensive picture of the seafloor. Multi-beam echo sounders are more expensive than single-beam echo sounders and are used for offshore exploration, environmental monitoring, and hydrographic surveys.
The fishing echo sounder segment is predicted to generate the most revenue throughout the projected period. Echo sounders are used to locate fish schools and other underwater objects. Increasing demand for echo sounders in fishing is propelling global revenue development. Echo sounders are an essential piece of equipment for both commercial and recreational fishing.
The North America market is expected to hold the largest revenue share during the forecast period, mainly due to the presence of major players and the rapidly growing offshore industry in the region. Countries such as the U.S. and Canada are significant markets for echo sounders, driven by the increasing demand for high-resolution underwater mapping and better target detection. The adoption of advanced echo sounders is rising in North America, owing to their enhanced capabilities, such as high-resolution mapping and improved target detection. Moreover, the demand for echo sounders in the region is being fueled by the fast-growing offshore industry in the Gulf of Mexico and the Atlantic region.
 

global echo sounders market is segmented into two types of products: single beam echo sounders and multi-beam echo sounders. Multi-beam echo sounders are expected to account for the largest revenue share during the forecast period. This is because they offer high-resolution underwater mapping, which is essential for a variety of applications such as hydrographic surveys, environmental monitoring, and offshore exploration.

Multi-beam echo sounders use multiple beams to cover a larger area and create a detailed map of the seabed. They provide more accurate and detailed data compared to single-beam echo sounders, which use only one beam to scan the seafloor. However, multi-beam echo sounders are typically more expensive than single-beam echo sounders, and are therefore primarily used in offshore exploration, environmental monitoring, and hydrographic surveys.

Top Companies Operating in the Global Echo Sounder Market:

Kongsberg Maritime
Teledyne Marine
Atlas Elektronik
Coda Octopus Group
Simrad
Raytheon Technologies
Navico
Reson A/S
Furuno Electric
Edgetech
BioSonics
AML Oceanographic
JFE Engineering
Odom Hydrographic
Nippon Submarine Cable
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In addition, the high demand for offshore oil and gas exploration and production is driving the growth of the echo sounders market, as these devices are used extensively in this industry to map the seafloor and locate oil and gas reserves. Rising environmental concerns are also contributing to the market's growth, as there is a growing need to monitor the condition of underwater ecosystems and the effects of human activity on the environment. Overall, the market for echo sounders is expected to continue growing in the coming years, driven by these and other factors.

The global market is further segmented into type and application:

Product Type Outlook (Revenue, USD Million, 2019-2032)

Multi-beam Echo Sounder
Multi-beam Echo Sounder
Application Outlook (Revenue, USD Million, 2019-2032)

Echo Sounder for Fishing
Echo Sounder for Marine Survey
Echo Sounder for Other Applications
Frequency Range Outlook (Revenue, USD Million, 2019-2032)

Below 30kHz Echo Sounders
30 to 100kHz Echo Sounders
Above 100kHz Echo Sounders
 Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:

Overview of the company profiles of each market player
Industrial chain analysis of each player
Revenue share contribution
Sales network and distribution channels and net profits and losses of each company
Key business growth strategies are undertaken by these players
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