LONDON--(BUSINESS WIRE)--The global hydrographic equipment market size is poised to grow by USD 624.38 million during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 5% during the forecast period.
Read the 141-page research report with TOC on "Hydrographic Equipment Market Analysis Report by application (hydrographic charting, offshore oil and gas, port and harbor management, and coastal engineering), and geography (APAC, North America, Europe, South America, and MEA) 2019 - 2023" at
The market is driven by the increasing deployment of hydrographic survey vessels. In addition, the advances in acoustic sensors and sonar technologies are expected to further boost the growth of the hydrographic equipment market.
The increasing deployment of hydrographic survey vessels is one of the major reasons for the growth of the hydrographic equipment market. Hydrographic survey vessels are the ships designed for hydrographic research and survey. The data acquired by these vessels is used to create nautical charts, which are used for navigation by both civil and defense sectors. The increasing procurement of hydrographic survey vessels for various applications by various countries will drive the demand for hydrographic equipment.
Several vendors in the market are focusing on the development of advanced acoustic sensors and sonar technologies. Acoustic superiority is the key dominating factor that has attracted investments in sensors and sonar technologies. The acoustic sensor used in sonars can detect external sounds and determine the contour, speed, and range of any enemy vessel, as well as other approaching threats. Thus, the advances in acoustic sensors and sonar technologies will drive the growth of the hydrographic equipment market.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Innomar Technologie GmbH
- Kongsberg Gruppen ASA
- Mitcham Industries Inc.
- Moog Inc.
- Seafloor Systems Inc.
Market Segmentation by Product:
The hydrographic equipment market can be broadly categorized into the following segments:
- Hydrographic charting
- Offshore oil and gas
- Port and harbor management
- Coastal engineering
Key Regions for the Hydrographic Equipment Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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