Pune, March 29, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Information Technology & Telecommunication market research firm, has published competitive intelligence market research report on “Underwater Communication System Market“. The Underwater Communication System market size was valued at USD 3.2 Bn in 2021. The total Underwater Communication System Market revenue is expected to grow at a CAGR of 10.4 percent from 2022 to 2029, reaching USD 8.9 Bn during the forecast period.
| Market Size in 2021 | USD 3.2 Bn |
| Market Size in 2029 | USD 8.9 Bn |
| CAGR | 10.4 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 262 |
| No. of Tables | 125 |
| No. of Charts and Figures | 119 |
| Segment Covered | By Component, Connectivity, Application, and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Underwater Communication System Market Scope and Research Methodology
The report provides a detailed analysis of the current structure of the Underwater Communication System Market including its major characteristics. The Underwater Communication System Market drivers, opportunities, restraints, and challenges are provided in the report with the forecast period of 2023-2029. All the necessary and essential market figures are provided in the report to help new market entrants and major players analyze the Underwater Communication System Market and understand growth strategies in the market.
Bottom-Up approach was used to estimate the Underwater Communication System Market size. Secondary research was used to collect information for the extensive, market-oriented, and commercial analysis of the Underwater Communication System Market. The sources used to obtain key information about major Underwater Communication System market players, market development, and technology were presentations, press releases, interviews, SEC filings, and annual reports. The report is equipped with a competitive analysis of the Underwater Communication System Market players. The Underwater Communication System Market was analyzed by region, revenue, financial status, portfolio, technological advancement adopted, social, social medial presence, and mergers and acquisitions.
Naval defense applications to boost Underwater Communication System market growth
Underwater communication is used for navigation and monitoring underwater conditions by transmitting data through water. Increasing demand for this system from oil & gas, and defense sectors is expected to boost the Underwater Communication System market growth. Technological advancements have been made to increase reliability, speed, and accuracy of underwater communication which is expected to boost the market growth. Advancement in audio communication technology are being made for the Underwater Communication System market growth. Autonomous underwater vehicles are expected to boost the market growth.
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High cost of the communication system and limited data transmission due to low bandwidth is expected to restrain the market growth. Technological advancement for autonomous underwater vehicles presents lucrative opportunities for market growth.
North America region to witness massive growth in the Underwater Communication System Market growth
Increasing security activities such as anti-submarine warfare, security of marine, surveillance and concern about the security of submarines in the region is expected to drive the North America regional Underwater System Market growth.
European region is expected to grow at a significant rate over the forecast period. Aquaculture is important food industry sector, contributing for the growth of market. Innovation and digitization to expand the aquaculture sector is expected to boost the regional Underwater Communication System market growth. In Asia Pacific focus of companies for shallow water communication for R & D activities is fueling the regional market growth.
Underwater Communication System Market Segmentation
Based on Component, Hardware segment to dominate the Underwater Communication System Market over the forecast period
Components for the Underwater Communication includes LCDs, capacitors, resistors, and many more. With the help these components messages are transmitted over water. Components are manufactured and are provided for the maintenance of underwater tools and equipment.
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Based on Application, Environmental monitoring segment to dominate the Underwater Communication System Market over the forecast period
This system helps the government to track the environment factors. It is possible to track oil and gas industry functions that have direct impact on environment.
Military makes use of communication system for surveillance and invasion detection.
Based on Connectivity, Wireless segment is expected to dominate the Underwater Communication System over the forecast period
Wireless transmission is used for the communication underwater. Scientific data collection, underwater exploration, and environmental monitoring is done through underwater wireless communication system.
By Component:
- Hardware
- Software
- Services
By Connectivity:
- Hardwired
- Wireless
By Application:
- Climate Monitoring
- Environmental Monitoring
- Hydrography
- Oceanography
- Pollution Monitoring
- Others
By End User:
- Marine
- Military & Defense
- Oil & Gas
- Scientific Research & Development
- Others
Underwater communication system Market Key players include
- Saab AB
- Thales
- Teledyne Marine
- Kongsberg
- L3Harris Technologies, Inc.
- EvoLogics GmbH
- Sonardyne international ltd
- Ultra Electronics Holdings plc
- Sea and land technologies pte ltd
- Kongsberg,
- DSPComm
- Hydromea, Markey Machinery
- Desert Star Systems LLC
- Ceebus Technologies
- Ultra Electronics Maritime Systems
- DIVELINK Underwater Communications Ltd.
- RJE International, Inc.
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Key questions answered in the Underwater communication system Market are:
- What is Underwater communication system?
- What was the Underwater communication system market size in 2021?
- What is the forecast period of Underwater communication system market?
- What will be the Underwater communication system market size by 2029?
- What is the growth rate of the Underwater communication system Market?
- Which factors are expected to boost the Underwater communication system Market growth?
- What factors are expected to restrain the Underwater communication system Market growth?
- Which segment dominated the Underwater communication system Market growth?
- What is the demand pattern for the Underwater communication system market?
- Which region held the largest share in the Underwater communication system market?
- Who are the key players in the Underwater communication system market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Component, Connectivity, Application, and End User
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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Man-Portable Communication Systems Market: The total market size was valued at USD 3.20 Bn in 2021 and is expected to grow at 3.4 percent through 2022 to 2029, reaching USD 4.18 Bn. Demand for communication and message-relaying portable products by the defense sector is expected to boost the market growth.
VHF Air Ground Communication Stations Market: The total market size was valued at USD 1.15 Bn in 2021 and is expected to reach USD 2.28 Bn by 2029, with a growth rate of 8.93 percent CAGR during the forecast period (2022-2029). Technology advancements in both aircraft carriers in the air and ground towers is expected to boost the market growth.
Defense Communication System Market: The total market size was valued USD 53.24 Bn in the year 2021, and is expected to reach USD 114.12 Bn by 2029, growing at a CAGR of 10 percent during the forecast period. Data privacy and security in military operations is factor expected to fuel the market growth.
Picture Archiving Communications System Market: The total market size is expected to grow at a CAGR of 6.5 percent during the forecast period and the market size is expected to reach nearly USD 4.63 Bn by 2029. An increase in the use of diagnostics imaging and the adoption of this systems in medical facilities is expected to influence the market growth.
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