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2025-2034 Hydrographic Survey Equipment Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Hydrographic Survey Equipment Market
What Is the Expected CAGR for the Hydrographic Survey Equipment Market Through 2025?
In recent years, the hydrographic survey equipment market has seen substantial growth. The market size is projected to expand from $3.07 billion in 2024 to $3.27 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.6%. Factors contributing to the growth during the historical period include improved maritime safety, increased maintenance of ports and harbors, a surge in offshore resource exploration, heightened environmental monitoring, and growth in infrastructure development.
What's the Projected Size of the Global Hydrographic Survey Equipment Market by 2029?
In the coming years, the market for hydrographic survey equipment is predicted to experience substantial growth. It's anticipated to reach a value of $4.35 billion by 2029, with a compound annual growth rate (CAGR) of 7.3%. This projected development during the forecast period is owing to factors such as climate change and rising sea levels, an increase in offshore renewable energy, the growth of the blue economy, international partnerships, and an upsurge in underwater archaeology. Key trends for this period include the use of multi-beam sonar systems, deployment of unmanned survey vessels, the integration of Lidar technology, the processing of real-time data, and combine this with GIS and remote sensing.
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Top Growth Drivers in the Hydrographic Survey Equipment Industry: What's Accelerating the Market?
The hydrographic survey equipment market is expected to grow due to an increase in maritime trade. This refers to commercial activities that involve using ships to convey goods over the sea. Hydrographic survey operations play a crucial role as a civil engineering service that assesses the physical characteristics of underwater regions, aiding maritime trade. As per data from the United Nations Conference on Trade and Development, a Swiss intergovernmental organization, the pace of maritime trade is expected to slow to 1.4% in 2022. However, it's predicted to rise at an annual rate of 2.1% from 2023 to 2027. Thus, growth in maritime trade serves as a catalyst for the hydrographic survey equipment market.
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What Trends Will Shape the Hydrographic Survey Equipment Market Through 2029 and Beyond?
Technological innovations have emerged as a prominent trend in the hydrographic survey equipment market. To solidify their market positions, major firms in this sector are focusing on the creation of novel technological solutions. For instance, Kongsberg Maritime, a European firm engaged in hydrographic survey equipment, introduced an enhancement to the acoustic modems in March 2022. The cNODE Mantis, as it is called, brings a new streaming ability for live video feed in multiple underwater installations. The cNODE Mantis is equipped with a live video solution technology that aids in overseeing the positioning of structures on the seabed during underwater installation projects.
What Are the Main Segments in the Hydrographic Survey Equipment Market?
The hydrographic survey equipment market covered in this report is segmented -
1) By Type: Sensing Systems, Positioning Systems, Optical System, Profilers, Software, Other Types
2) By Platform: Surface Vessels, USV And UUV, Aircraft
3) By Depth: Shallow Water, Deep Water
4) By Application: Port And Harbor Management, Offshore Oil And Gas Survey, Cable Or Pipeline Route Survey, Hydrographic Or Bathymetry Survey, Other Applications
5) By End User: Commercial, Research, Defense
Subsegments:
1) By Sensing Systems: Echo Sounders, Multibeam Sonar Systems, Single Beam Sonar Systems
2) By Positioning Systems: GPS Systems, GNSS Receivers, Inertial Navigation Systems
3) By Optical Systems: Underwater Cameras, Laser Scanning Systems
4) By Profilers: Water Quality Profilers, CTD (Conductivity, Temperature, Depth) Profilers
5) By Software: Hydrographic Data Processing Software, GIS Software For Hydrographic Surveys
6) By Other Types: Survey Boats And Platforms, Drones And UAVs For Hydrographic Surveys
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Which Top Companies are Driving Growth in the Hydrographic Survey Equipment Market?
Major companies operating in the hydrographic survey equipment market include Kongsberg Maritime AS, Sonardyne International Ltd., Innomar Technologie GmbH, Edgetech Air Systems Pvt. Ltd., Tritech International Limited, Teledyne Technologies Incorporated, iXblue SaS, SyQwest Inc., Valeport Ltd., Xylem Inc., Raytheon Technologies Corporation, Fugro N.V., Thales Group, Atlas Electronics Inc., Odom Hydrographic Systems Inc., Stewart Technology Associates, H.J. Merrihue GmbH, Mesco Inc., Teg Oceanographic Services Inc., Waterway Surveys Inc., R2Sonic LLC., WASSP Ltd., Applied Acoustics International, ECHO81, Hemisphere GNSS, Hydrotechnik Lübeck GmbH, JFE Advantech Co. Ltd., Knudsen Engineering Limited, L-3 Communications Klein Associates Inc.
Which Regions Will Dominate the Hydrographic Survey Equipment Market Through 2029?
Asia-Pacific was the largest region in the hydrographic survey equipment market in 2024. The regions covered in the hydrographic survey equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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