Hydrographic Survey Equipment Global Market Report 2023
Major players in the hydrographic survey equipment market are KONSBERG Gruppen, Sonardyne International, Innomar Technologie GmbH, EdgeTech, Tritech International Limited, Ixblue SAS, Syqwest Incorporated, Valeport Ltd.
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, Raytheon Technologies Corporation, Xylem Inc., Topcon Corporation, Thales Group, Seafloor Systems Inc., Atlas Electronik GmbH and Nikon-Trimble Co Ltd.
The global hydrographic survey equipment market grew from $2.67 billion in 2022 to $2.89 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The hydrographic survey equipment market is expected to grow to $3.92 billion in 2027 at a CAGR of 7.9%.
The hydrographic survey equipment market consists of multibeam echo sounders (MBES), side scan sonar, laser scanners, sound speed profilers , sound velocity profilers, portable tide gauges, radar level sensors , interferometric sonar systems , and other hydrographic survey equipment.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hydrographic survey equipment refers to survey equipment made with software and hardware solutions that obtain data necessary for preparing charts related to water depth, topography, tide measurements, and other physical features underwater. Such charts are produced to provide surface navigational information.
Asia-Pacific was the largest region in the hydrographic survey equipment market in 2022. The regions covered in the hydrographic survey equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of hydrographic survey equipment are sensing systems, positioning systems, optical systems, profilers, software, and other types.Sensing systems refer to a system utilizing technology such as, but not limited to, radar, video, sound, or infrared technology that shall be capable of detecting the presence of a person(s) or object(s) as measured by the placement of a 12-inch high by 12-inch diameter cylinder within a minimum area.
The various platforms include surface vessels, USV and UUV, and aircraft with a depth that includes shallow water and deep water.The various applications include port and harbor management, offshore oil and gas survey, cable or pipeline route survey, hydrographic or bathymetry survey, and other applications.
The various end-users include commercial, research, and defense.
An increase in maritime trade is expected to propel the growth of the hydrographic survey equipment market going forward.Maritime trade refers to the type of trade that includes the use of ships to transport goods by sea.
Hydrographic surveying is a civil engineering service that determines the physical features of an underwater area and helps the maritime trade. For instance, in 2021, according to United Nations Conference on Trade and Development data, a Switzerland-based intergovernmental organization, maritime trade is projected to increase by 4.3% in the year 2021. Therefore, the increase in maritime trade is driving the hydrographic survey equipment market.
Technological advancements are a key trend gaining popularity in the hydrographic survey equipment market.Major companies operating in the hydrographic survey equipment market are focused on developing new technological solutions to strengthen their position.
For instance, in March 2022, Kongsberg Maritime, a Europe-based company operating in hydrographic survey equipment launched an addition to the acoustic modems, a cNODE Mantis that creates a new capability for streaming a live video feed for numerous subsea installations. The cNODE Mantis featured a live video solution technology that helps in subsea installation projects and visually monitors the placement of structures on the seabed.
In February 2022, Woolpert, a US-based company operating in hydrographic engineering and survey company acquired eTrac Inc for an undisclosed amount. Through this acquisition, Woolpert aims to enhance solutions in integrated architecture, engineering, and geospatial (AEG) capabilities. eTrac Inc is a US-based hydrographic survey and marine technology firm.
The countries covered in the hydrographic survey equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hydrographic survey equipment market research report is one of a series of new reports that provides hydrographic survey equipment market statistics, including hydrographic survey equipment industry global market size, regional shares, competitors with a hydrographic survey equipment market share, detailed hydrographic survey equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hydrographic survey equipment industry. This hydrographic survey equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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