The new report by Expert Market Research titled, ‘Global Hydrographic Survey Equipment Market Report and Forecast 2022-2027’, gives an in-depth analysis of the hydrographic survey equipment market, assessing the market based on its segments like type, depth, platform, application, end user, and regional markets among others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): 3 billion USD
- Forecast CAGR (2022-2027): 6.8%
- Forecast Market Size (2027): 4.1 billion USD
The market is growing due to the increasing usage of hydrographic survey equipment in ports and harbours. Hydrographic survey equipment is used in the design of ports and harbours because water level variations are critical in determining the crest height of water. Furthermore, the demand for exact precision in the development of ports and harbours is boosting the use of hydrographic survey equipment, which is propelling the industry forward. The market for hydrographic survey equipment is booming, thanks to the increasing use of bathymetric data in port and harbour maintenance and operations. Furthermore, such data is used to assure the safety of boats, contributing considerably to the expansion of the hydrographic survey equipment business. Hydrographic studies are becoming increasingly important as boats become bigger and heavier, ensuring compliance with regulatory criteria.
Industry Definition and Major Segments
Instruments used to navigate the physical properties of water bodies and land regions around them are referred to as hydrographic survey equipment. It is used to determine water depth and to aid in the identification of seabed forms as well as the location of possible impediments in bodies of water. The use of hydrographic survey technology improves the safety and efficiency of marine transport. A hydrographic survey is carried out to measure and analyse the physical environment beneath the sea, which has an impact on maritime navigation, marine construction, and offshore oil exploration and drilling. It mostly uses hydrographic survey equipment to create comprehensive drawings of harbours, seabeds, and rivers that illustrate forms, depths, and contours. This equipment may be mounted on autonomous underwater vehicles (AUVs), unmanned underwater vehicles (UUVs), small vessels, and big ships, and it consists of both software and hardware components.
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The major types of hydrographic survey hydrographic are:
- Sensing Systems
- Positioning Systems
- Subsea Sensors
- Software
- Unmanned Vehicles
- Others
By depth, the market is bifurcated into:
- Shallow Water
- Deep Water
The market can be broadly categorised on the basis of its platforms into:
- Surface Vessels
- USVs and UUVs
- Aircraft
Based on application segment, the market is classified into:
- Hydrographic or Bathymetry Survey
- Port and Harbour Management
- Offshore Oil and Gas Survey
- Cable or Pipeline Route Survey
- Others
The market, based on end user, is divided into:
- Commercial
- Research
- Defence
The major regional markets of the hydrographic survey equipment market are:
- North America
- Asia Pacific
- Latin America
- Europe
- Middle East and Africa regions
Market Trends
As efforts to improve our understanding of water bodies increase, so does the need for hydrographic survey equipment, boosting the industry's growth. The increasing use of autonomous surface vessels to analyse and collect high-resolution topical data in currents and tides, among other things, is propelling the market for hydrographic survey equipment forward. Furthermore, the increasing usage of hydrographic survey equipment, which produces quicker and more precise hydrographic data, is boosting the market's growth. New technologies are progressively being incorporated to efficiently handle and analyse enormous amounts of data obtained from hydrographic survey equipment, thanks to fast technical improvements. The market is predicted to rise due to the development of hydrographic survey equipment that can be deployed efficiently in difficult situations. Furthermore, prominent businesses are rapidly adopting novel technologies to equip vessels with hydrographic survey equipment in order to explore previously inaccessible locations, which is expected to boost the industry's growth throughout the projection period.
Key Market Players
The major players in the market are EdgeTech, Valeport Ltd, CEE HydroSystems, SyQwest Incorporated, Teledyne Technologies Incorporated, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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