Press release
Hydrographic Survey Equipment Market Growth Accelerates: Strategic Forecast Predicts $4.19 Billion by 2029
Hydrographic Survey Equipment
What Will the Hydrographic Survey Equipment Industry Market Size Be by 2025?
In recent times, there has been consistent growth in the size of the hydrographic survey equipment market. The market, which was valued at $3.07 billion in 2024, is projected to make a leap to $3.22 billion by 2025, reflecting a compound annual growth rate (CAGR) of 4.9%. Several factors contributed to this uptick during the historic period including enhanced maritime safety, increased maintenance of ports and harbors, an escalation in offshore resource exploration, heightened environmental monitoring, and infrastructure development.
What's the Long-Term Growth Forecast for the Hydrographic Survey Equipment Market Size Through 2029?
In the coming years, the hydrographic survey equipment market is projected to experience robust growth. The market is predicted to expand to a size of $4.19 billion in 2029, with a compound annual growth rate (CAGR) of 6.8%. Factors such as climate change and sea level rise, accelerated offshore renewable energy, growth of the blue economy, international cooperation, and increased underwater archaeology can be attributed to the anticipated growth in the forecast period. Trends likely to shape the market in that forecast period encompass multi-beam sonar systems, unmanned survey vessels, the integration of lidar technology, real-time data processing, and the conjunction with GIS and remote sensing.
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What Are the Key Growth Drivers Fueling the Hydrographic Survey Equipment Market Expansion?
The growth of the hydrographic survey equipment market is projected to be fueled by the surge in maritime trade. This mode of trade, which involves transporting goods by sea using ships, necessitates hydrographic surveying. This civil engineering service facilitates the understanding of underwater physical characteristics, making it vital for maritime trade. Based on data gathered from the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, maritime trade is expected to slow down to 1.4% in 2022. However, it's predicted to exhibit an annual growth rate of 2.1% from 2023 to 2027. Consequently, the hydrographic survey equipment market is being driven by the escalating maritime trade.
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What Are the Key Trends Driving Hydrographic Survey Equipment Market Growth?
The rise of technological progression is an prominent trend gaining traction in the hydrographic survey equipment market. Key players in this industry are keen to devise new technology-based solutions to secure their market stand. For example, Kongsberg Maritime, a European enterprise engaged in the hydrographic survey equipment introduced a new addition to the acoustic modems in March 2022, called cNODE Mantis. The device not only creates a fresh feature for streaming live video feed for multiple underwater installations but also helps in project supervision of underwater installations by visually monitoring the position of structures on the seabed.
How Is the Hydrographic Survey Equipment Market Segmented?
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 Companies Are Leading the Charge in Hydrographic Survey Equipment Market Innovation?
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 Are Leading the Global Hydrographic Survey Equipment Market in Revenue?
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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