Hydrographic Equipment Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Hydrographic Equipment Market: About this market
Technavio’s hydrographic equipment market analysis considers sales from various applications such as hydrographic charting, offshore oil and gas, port and harbor management, and coastal engineering. Our analysis also considers the sales of hydrographic equipment in APAC, Europe, North America, South America, and MEA. In 2018, the hydrographic charting segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as navigation of ships safely and efficiently around ports and harbors will play a significant role in the hydrographic charting segment to maintain its market position. Also, our global hydrographic equipment market report looks at factors such as advances in acoustic sensors and sonar technologies, increasing deployment of hydrographic survey vessels, and benefits of SBP. However, high costs of hydrographic survey, errors in remote sensing data and difficulties in mapping submerged vegetation may hamper the growth of the hydrographic equipment industry over the forecast period.
Global Hydrographic Equipment Market: Overview
Increasing deployment of hydrographic survey vessels
The hydrographic survey vessels are the ships designed for hydrographic research and survey. The data obtained by these vessels are used to create nautical charts which are used for navigation. The Royal New Zealand Navy recently adopted a hydrographic vessel which can perform operations such as underwater search and recovery, disaster relief, explosives disposal, and limited mine countermeasures. The increasing procurement of hydrographic survey vessels for various applications by various countries will drive the demand for hydrographic equipment. This will lead to the expansion of the global hydrographic equipment market at a CAGR of around 5% during the forecast period.
Advances in SDB
Advances in satellite derived-bathymetry (SDB) will positively influence the market in the forecast period. SDB works remotely and helps in reducing operational costs of hydrographic survey projects by eliminating the need for the mobilization of equipment and personnel to the survey site. SDB offers environment, health, and safety-related advantages. It facilitates easy surveying of fragile ecosystems using satellites and eliminates the risk of pollution and damage which is expected to boost the overall market growth.
For the detailed list of factors that will drive the global hydrographic equipment market during the forecast period 2019-2023, click here.
With the presence of several major players, the global hydrographic equipment market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydrographic equipment manufacturers, that include Innomar Technologie GmbH, Kongsberg Gruppen ASA, Mitcham Industries Inc., Moog Inc., Seafloor Systems Inc., Sonardyne International Ltd., Syqwest Inc., Teledyne Technologies Inc., Valeport Ltd., Xylem Inc.
Also, the hydrographic equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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