Global Hydrographic Survey Equipment Market to Surpass 7.25 Billion by 2030 Driven by Diverse Range of Water Bodies

SkyQuest projects that the global hydrographic survey equipment market will attain a value of USD 7.25 billion by 2030, with a CAGR of 5.75% during the forecast period (2023-2030). The global market for hydrographic surveying is on the brink of substantial growth in the future. Hydrographic surveying is an indispensable process for accurately measuring and characterizing the physical attributes of a diverse range of water bodies, encompassing oceans, lakes, and rivers.

Westford, USA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the global hydrographic survey equipment market is experiencing substantial growth during the forecast period, primarily fueled by the offshore oil and gas industry's surging demand. This sector heavily relies on hydrographic surveying to support offshore drilling, resource exploration, and the safe operation of oil and gas facilities.

Browse in-depth TOC on the "Hydrographic Survey Equipment Market”

  • Pages - 157
  • Tables – 60
  • Figures – 75

Expanding offshore marine infrastructure fields, encompassing projects such as bridge construction, effluent disposal systems, multi-industry ports, and coastal thermal power plants, drives the global hydrographic survey equipment market's growth trajectory. These ambitious infrastructure endeavors require precise and comprehensive hydrographic data to facilitate various critical aspects.

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Prominent Players in Global Hydrographic Survey Equipment Market

  • Kongsberg Maritime
  • Teledyne Marine
  • Fugro
  • Thales Group
  • Trimble Inc.
  • Sonardyne International Ltd.
  • Valeport Ltd.
  • C-Nav
  • IIC Technologies
  • Trelleborg AB
  • Hemisphere GNSS
  • Syqwest Inc.
  • HYPACK, Inc.
  • CHC Navigation
  • Ohmex Ltd.
  • R2Sonic LLC
  • SBG Systems

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Sonar Systems Segment to Dominate Market due to Widespread and Essential Applications of Sonar Systems

Sonar systems are indisputably pivotal in hydrographic surveys, as they serve as the primary technology for gathering precise data on water depth,  seafloor imaging, and detecting underwater targets. The sonar systems segment leads in the global hydrographic survey equipment market. This dominance is attributed to sonar systems' widespread and essential applications across various industries, including marine navigation, underwater resource exploration, environmental monitoring, and defense.

North America is undeniably dominant in the global hydrographic survey equipment market. Several key factors contribute to the region's preeminence. Firstly, North America boasts advanced technological infrastructure, providing a fertile ground for developing and utilizing cutting-edge surveying equipment. Secondly, the region hosts a robust offshore oil and gas industry that relies heavily on hydrographic surveying for resource exploration and management.

Government and Defense Segment to Witness Significant Growth due to Substantial Investments in this Domain

Government and defense sector is pivotal in the global hydrographic survey equipment market, encompassing naval forces, coast guards, hydrographic offices, and various government agencies responsible for overseeing maritime activities. This segment stands out as a dominant force in the market, primarily because governments across the globe have consistently made substantial investments in this domain.

Asia-Pacific is well-positioned to emerge as the fastest-growing global hydrographic survey equipment market segment. The rapid economic development in APAC countries is fostering an increased need for accurate and efficient hydrographic surveying, as it plays a pivotal role in supporting infrastructure development and ensuring maritime safety.

A comprehensive analysis of the major players in the global hydrographic survey equipment market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

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Key Developments in Global Hydrographic Survey Equipment Market   

  • In 2023, Sonardyne International announced a substantial funding round led by a consortium of investors, with growth equity firm EQT at the forefront. The injected funds are intended to bolster Sonardyne's expansion efforts and facilitate the development of cutting-edge technologies in hydrographic surveying and subsea operations. This strategic move underscores the company's commitment to innovation and aspiration to remain at the forefront of the hydrographic survey equipment market.
  • In 2023, ECA Group, a renowned provider of robotic systems for both underwater and aerial applications, introduced a new generation of autonomous underwater vehicles (AUVs). These AUVs are specifically designed for conducting high-resolution hydrographic surveys and subsea inspections.

Key Questions Answered in the Global Hydrographic Survey Equipment Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.                
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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