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Hydrographic Survey Equipment Market | Industry Analysis

The Hydrographic Survey Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Hydrographic Survey Equipment Global Market Report 2024, The hydrographic survey equipment market size has grown strongly in recent years. It will grow from $2.91 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increase in maritime safety, rise in port and harbor maintenance, rise in offshore resource exploration:, increase in environmental monitoring, rise in infrastructure development.

The hydrographic survey equipment market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to climate change and sea-level rise, increasing offshore renewable energy, blue economy growth, international collaboration, rising underwater archaeology. Major trends in the forecast period include multi-beam sonar systems, unmanned survey vessels:, lidar technology integration, real-time data processing, integration with gis and remote sensing.

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.

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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

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.

The hydrographic survey equipment market report table of contents includes: