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hydrographic survey equipment market

By Application, the offshore oil and gas survey is forecasted to witness highest growth rate during the forecast period.

Introduction of unmanned survey vehicles, integration of various technologies to support customer-friendly approach, and decline in cost of operations drive the hydrographic survey equipment market.” - Allied Market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, October 10, 2024 /EINPresswire / -- The global Hydrographic Survey Equipment Market was valued at $3.1 billion in 2020, and is projected to reach $5.3 billion by 2030, growing at a CAGR of 5.73% from 2021 to 2030. Advent of unmanned survey vehicles, incorporation of various technologies to support customer-friendly approach, and reduced cost of operations have boosted the growth of the global hydrographic survey equipment market. However, high production cost and increased market competitiveness hinder the market growth. On the contrary, rise in demand for hydrographic survey equipment in developing countries would open new opportunities in the future.

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The Hydrographic Survey Equipment industry holds great potential in the near future to the rise in the global maritime industry. The arrival of unmanned vehicles that can be remotely piloted and engagement of machine learning technologies to support complete autonomous operations notably impact the business dynamics. The introduction of a new product range by companies operating within the vertical that is cost-effective and can deliver comprehensive results through autonomous operations is generating market competitiveness. Long-term agreements, service contracts, and collaborations are among the primary strategic initiates practiced by industry players operating in the hydrographic survey equipment market.

The key players profiled in this report include

XYLEM, Ixblue SAS, Sonardyne International Ltd., Valeport Ltd., Syqwest Inc., KONSBERG GRUPPEN ASA, Tritech International Ltd, Innomar Technologie GmbH, Teledyne Technologies Inc., Edgetech

Factors such as the introduction of unmanned survey vehicles, reduced cost of operation, and integration of various technologies to support a customer-friendly approach to augment the business opportunities within the forecast period. Technological advances, such as 3D and 4D technologies, being incorporated in bathymetric studies have made it possible for harbor owners and managers to get a better overall view of their areas. 4D technologies enhance predictive assessment for ports as they offer a more realistic insight into developments in the surrounding waters. Furthermore, the rise in demand for hydrographic surveys by defense organizations across the globe and rising tension between several nations such as the U.S., China, Russia, the Philippines, and North Korea among others will propel market opportunities. Updated hydrographic scans and precise subsea mapping provide strategic competitiveness to nations during critical situations.

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By region, the global hydrographic survey equipment market across North America dominated in 2020, accounting for nearly two-fifths of the market, due to high demand on the commercial and military fronts in the region. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 6.69% during the forecast period, owing to rise in efforts taken by private and government players to support boarder protection and regional trade.

By type, the software segment held the largest share in 2020, accounting for around one-third of the global hydrographic survey equipment market size . In addition, the segment is estimated to register the highest CAGR of 6.13% during the forecast period, due to rise in reliance on software and rapid shift toward unmanned survey vehicles and automation. The report includes analysis of other segments such as sensing systems, positioning systems, optical systems, profilers, and others.

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By end user, the market is divided into commercial, research, and defense. By type, the market is classified into sensing systems, positioning, system, optical system, profilers, software, and others. Based on depth, the hydrographic survey equipment market is segmented into shallow water, and deepwater. The platform segment is categorized into surface vessels, unmanned surface vessels (USVs) & unmanned underwater vessels (UUVs), and aircraft. The application segment is divided into hydrographic or bathymetry survey, port & harbor management, offshore oil & gas survey, cable or pipeline route survey, and others.

Asia Pacific dominated the hydrographic survey equipment market in terms of growth, followed by LAMEA, North America, and Europe. The U.S. dominated the market share in 2020, whereas China is expected to grow at a significant rate in the market during the forecast timeframe.

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Allied Market Research
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