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Underwater Acoustic Communication Market Size, Growth 2024-2033
Underwater Acoustic Communication Market Size
As per the report, the underwater acoustic communication market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The underwater acoustic communication market size is expected to see rapid growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
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Surging Demand For Environmental Protection Drives Growth In The Underwater Acoustic Communication Market
Rising demand for environmental protection is expected to propel the growth of the underwater acoustic communication market going forward. Environmental protection refers to efforts and actions taken to conserve and preserve the natural environment, prevent pollution, and promote sustainable practices to safeguard the Earth's ecosystems and resources. Underwater acoustic communication helps by supporting conservation efforts and promoting sustainable practices in aquatic environments, such as underwater noise monitoring and marine protected area (MPA) management. For instance, in October 2022, according to the report released by Statistics Sweden, a Sweden-based government agency, the overall amount spent by Swedish businesses on environmental protection in 2021 was $2.13 (SEK 23) billion, an increase of 11% from 2020. In 2021, expenditures accounted for 57%. Environmental protection investments increased in all environmental domains except wastewater and waste management, which increased by 70% in environmental and 80% in land domains. Therefore, the rise in demand for environmental protection is driving the growth of the underwater acoustic communication market.
Kongsberg Maritime Introduces Innovative Cnode Minis Transponder
The adoption of new technologies is a key trend gaining popularity in the underwater acoustic communication market. Major companies operating in the underwater acoustic communication market are adopting new technologies to sustain their position in the market. For instance, in March 2022, Kongsberg Maritime, a Norway-based maritime technology company, launched cNODE MiniS transponder. The new transponder units are primarily intended for placing ROVs, AUVs, and towed bodies. They are also well suited for activities requiring additional depth data or depth assisting, such as detecting subsea structures. It is especially suitable for windfarm installation assistance applications. The 100m-rated unit is appropriate for windfarm installation, and the 1,000m- and 4,000m-rated devices are ideal for subsea construction, deep-water research, towfish tracking, and AUV missions.
The underwater acoustic communication market covered in this report is segmented -
1) By Interface Platform: Sensor Interface, Acoustic Modem, Other Interface Platforms
2) By Communication Depth: Shallow Water, Medium Water, Long Water, Full Ocean
3) By Application: Environmental Monitoring, Pollution Monitoring, Climate Recording, Hydrography, Oceanography, Other Applications
4) By End-User: Oil And Gas, Military And Defense, Scientific Research And Development, Homeland Security, Marine
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Major companies operating in the underwater acoustic communication market report are Thales Group, L3Harris Technologies Inc., Teledyne Technologies Inc., Saab AB, Moog Inc., Ultra Electronics Ocean Systems Inc., Kongsberg Maritime, Channel Technologies Group, Sonardyne International Ltd., Mistral Solutions Pvt. Ltd., Tritech International Ltd., EdgeTech Marine, Aquatec Group Limited, Guralp Systems Ltd., Gavial Engineering & Manufacturing Inc, Advanced Navigation, Trelleborg Applied Technologies, Ocean Technology Systems, Xeos Technologies Inc., Blueprint Subsea, DSPComm, EvoLogics GmbH, BaltRobotics Sp.z.o.o., J W Fishers Manufacturing Co., RJE International Inc., LinkQuest Inc., Hydroacoustics Inc., Ocean Sonics Ltd., FarSounder Inc., Subnero Pte Ltd, Nortek Group
Contents of the report:
1. Executive Summary
2. Underwater Acoustic Communication Market Report Structure
3. Underwater Acoustic Communication Market Trends And Strategies
4. Underwater Acoustic Communication Market - Macro Economic Scenario
5. Underwater Acoustic Communication Market Size And Growth
…..
27. Underwater Acoustic Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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