Global Hydrographic Survey Equipment Market Overview
Hydrographic Survey Equipment Market is projected to reach USD 3,760 Million by 2030 and register a CAGR of 5.41% forecast period 2022-2030.
Hydrographic survey is the science of measurement and description of factors that affect dredging, offshore oil exploration/offshore oil drilling, maritime navigation, marine construction, and related activities. It emphasizes on soundings, shorelines, tides, currents, seabed, and submerged obstructions that relate to the previously mentioned activities.
Market Synopsis
The Hydrographic Survey Equipment Market is expected to register significant growth during the forecast period owing to factors such as increasing maritime trade and demand for accurate nautical charts. Furthermore, the growing use of UUVs and USVs to conduct hydrographic and oil & gas surveys is also expected to drive the market growth. Additionally, many countries across the world are increasingly adopting hydrographic survey vessels to create nautical charts, which is projected to fuel the growth of the Hydrographic Survey Equipment Market. For example, The Royal New Zealand Navy recently adopted a hydrographic vessel, HMNZS Manawanui, at Devonport Naval Base. The ship can perform operations such as underwater search and recovery, disaster relief, explosives disposal, and limited mine countermeasures.
However, factors including stringent regulations implemented by government authorities for the execution of hydrographic surveys, the high investment cost, as well as the lack of technical expertise in undertaking hydrographic surveys is expected to hinder the market growth.
Market USP
Increasing investments in autonomous vessels with advanced technologies are expected to drive the growth of the Hydrographic Survey Equipment Market.
Market Drivers
- Increasing Maritime Trade
- A Rise in the Demand for Accurate Nautical Charts
- Increasing Use of UUVs and USVs: The use of UUVs and USVs for conducting hydrographic and oil & gas surveys is increasing.
Market Restraints
- Issues Related to Stringent Regulations Implemented by Government Authorities
- Cost and Time Inefficiency
Market Segmentation
By Type
- Sensing Systems: The segment dominated the Hydrographic Survey Equipment Market in 2019 owing to the increasing marine trade activities in developing economies. Furthermore, to offer enhanced maritime security and maintain safe trade activities between countries, various sensing systems are used at the shore, which is expected to increase the demand for the segment.
- Positioning Systems: The segment is expected to grow owing to the increasing need for accurate nautical charts.
- Subsea Sensors: Hydrographic survey accurately examines the topography of the seafloor and identifies anchoring zones and optimum routes, which is expected to increase the demand for subsea sensors.
- Software: Software offers benefits such as ease of implementation, accuracy, and reduced ownership cost, thus driving the growth of the segment.
- Unmanned Vehicles: The unmanned vehicles segment is expected to register the highest CAGR during the forecast period. There is an increased demand for unmanned vehicles from the commercial sector. These vehicles find applications in deepwater exploration and production activities, drilling support and pipeline inspection, and hydrographic surveys, which is expected to drive the growth of this segment.
By Depth
- Shallow Water: The segment dominated the global market in 2019. The shallow water basins in North America, Europe, Asia-Pacific, and the Middle East are expected to play a vital role in driving the hydrographic survey equipment market.
- Deep Water: The segment is expected to grow due to the increasing demand for unmanned vehicles from the commercial sector. Unmanned vehicles find applications in deepwater exploration and production activities.
By Application
- Hydrographic Charting: Nautical and hydrographic maps ensure secure navigation. This is becoming increasingly essential owing to the rise in commercial shipping, recreational boating, as well as fishing activities, which will drive the hydrographic charting segment.
- Offshore Oil & Gas Survey: The segment dominated the market in 2019 and is expected to record the highest CAGR during the forecast period. Increasing investments in offshore oil & gas exploration activities by emerging economies, such as India, China, South Korea, and Brazil, are driving the growth of the segment.
- Port & Harbor Management: Port management involves the supervision of the shipping industry's various components for efficient and organized operations. Ports include warehouses, vessels, and freight and loading docks. The increasing development of new ports in the Middle East is also expected to drive the growth of the segment.
- Coastal Engineering: Coastal technology is used in the study of the coastal processes, such as corrosion, abrasion, hydraulic action, and shore-based construction. It also includes civil engineering, oceanography, marine geology elements, which are mostly aimed at providing access to navigation.
By End-User
- Commercial: The commercial segment dominated this market and is expected to grow at the highest CAGR during the forecast period. The growing demand due to dredging operations, oil & gas exploration, pipeline & cable laying, drilling activities, and offshore surveys, by commercial companies is expected to drive this segment.
- Research: Increasing initiatives undertaken by government bodies to provide enhanced survey equipment is expected to drive the growth of the segment. Hydrographic survey equipment offers benefits such as accuracy, ease of implementation, and improved scheduling that provide various opportunities to the research segment, which will drive the segment during the forecast period.
- Defense: The increasing adoption of hydrographic survey equipment by various countries to offer enhanced safety to the military forces is projected to fuel the growth of the segment during the review period.
By Region
- North America: North America dominated the global hydrographic survey equipment market in 2019 due to the presence of prominent technology companies such as Teledyne Technologies Inc. and Mitcham Industries Inc.
- Europe: The presence of prominent hydrographic survey equipment providers such as the Innomar Technologie GmbH and Ixblue SAS is expected to drive the market growth in the region.
- Asia-Pacific: The Hydrographic Survey Equipment Market in this region is projected to register the highest CAGR during the forecast period. The growing maritime trade among developing countries such as India and China is driving the market growth in the region.
- Middle East & Africa: Increasing investments by prominent oil & gas companies in hydrographic survey equipment is expected to drive the market growth in the region.
- Latin America: The increasing number of deepwater operations in countries such as Brazil and Mexico are expected to increase the demand for hydrographic survey equipment in the region.
Hydrographic Survey Equipment Market Key Players
- Kongsberg Gruppen ASA (Norway)
- Chesapeake Technology (US)
- EdgeTech (US)
- Environmental Systems Research Institute, Inc. (ESRI) (US)
- Innomar Technologie GmbH (Germany)
- Ixblue SAS (France)
- Mitcham Industries Inc. (US)
- Saab AB (Sweden)
- Sonardyne International Ltd. (UK)
- Ixblue SAS (France)
Other Prominent Players
- Syqwest Inc. (US)
- Teledyne Technologies Inc. (US)
- Tritech International Ltd. (UK)
- Valeport Ltd. (UK)
- Xylem, Inc. (US)
- Moog Inc. (US)
- Seafloor Systems Inc. (US)
- Raytheon Technologies Corporation (US)
- Thales Group (France)
- ATLAS ELEKTRONIK GmbH (Germany)
Recent Development
-
Focus on Unmanned Vehicles (AUVs & USVs): There's a strong push towards autonomous solutions. Companies like Kongsberg Maritime, Teledyne Marine, and IXblue are investing heavily in developing advanced AUVs and USVs for efficient and cost-effective data collection.
-
Integration and Software Advancements: Several players like Teledyne Technologies, Kongsberg Maritime, and Thales are focusing on integrated solutions that combine hardware, software, and data analytics for improved data processing, visualization, and decision-making.
-
Strategic Partnerships: Key players are collaborating for wider market reach and expertise. For instance, partnerships between sensor manufacturers and software developers are creating more comprehensive solutions.
-
Sustainability Initiatives: Companies are incorporating eco-friendly designs and energy-efficient technologies in their equipment. This aligns with growing environmental regulations and customer preferences.
Report Attribute/Metric |
Details |
  Market Size |
  USD 3,760 Million (2030) |
  CAGR |
  5.41% (2022-2030) |
  Base Year |
  2019 |
  Forecast Period |
  2028 |
  Historical Data |
  2018 |
  Forecast Units |
  Value (USD Million) |
  Report Coverage |
  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
  Segments Covered |
  Type, Depth, Application |
  Geographies Covered |
  North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
  Key Vendors |
  Kongsberg Gruppen ASA (Norway), Chesapeake Technology (US),EdgeTech (US), Environmental Systems Research Institute, Inc. (ESRI) (US), Innomar Technologie GmbH (Germany), Ixblue SAS (France), Mitcham Industries Inc. (US), Saab AB (Sweden), Sonardyne International Ltd. (UK), Ixblue SAS (France) |
  Key Market Opportunities |
  Increasing investments in autonomous vessels with advanced technologies |
  Key Market Drivers |
· Increasing Maritime Trade. · A Rise in the Demand for Accurate Nautical Charts. · Increasing Use of UUVs and USVs |
Hydrographic Survey Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
Hydrographic survey equipment market can expand at 5.41% CAGR by 2030.
By 2030, the Hydrographic survey equipment market value can touch to USD 3,760 Mn.
Kongsberg Gruppen ASA (Norway), Chesapeake Technology (US), and EdgeTech (US) are some reputed names in the Hydrographic survey equipment market.
The rise in maritime trade can promote the Hydrographic survey equipment market.
Time inefficiency is one of the restrains on the Hydrographic survey equipment market expansion.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report