Hydrographic Survey Equipment Market Distribution Channel Estimates & Global Trend Analysis 2022

The global hydrographic survey equipment market is projected to grow from USD 2.07 Billion in 2016 to USD 2.74 Billion by 2022, at a CAGR of 5.39% from 2017 to 2022 during the forecast period. Growth in this market can be attributed to the rise in maritime trade, increased use of UUVs and USVs to conduct hydrographic and oil & gas surveys.

The unmanned vehicles segment is estimated to account for the largest share in the hydrographic survey equipment market in 2017 and is projected to grow at the highest CAGR during the forecast period.

Based on type, the unmanned vehicles segment is estimated to account for the largest share in the hydrographic survey equipment market in 2017 and is projected to grow at the highest CAGR during the forecast period. The use of unmanned vehicles increases safety during critical operations due to the least human interventions and reduces risks and costs associated as against the use of a manned vehicle.

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The offshore oil & gas survey segment is estimated to account for the largest share of the hydrographic survey equipment market in 2017 and is projected to grow at the highest CAGR during the forecast period

Based on application, the offshore oil & gas survey segment is estimated to account for the largest share in the hydrographic survey equipment market in 2017 and is projected to grow at the highest CAGR during the forecast period. The offshore oil & gas industry relies on survey & positioning for exploration and planning facilities, construction, and maintenance. Growth of this segment can be attributed to the rising demand for crude oil energy across the world.

Based on depth, the deep water segment is projected to grow at the highest CAGR during the forecast period. Growth of this segment can be attributed to the increasing number of deepwater operations in oil field development projects in the Gulf of Mexico, Brazil, and West Africa, as well as other emerging regions, which is expected to drive the demand for hydrographic survey equipment.

Regional Outlook

The hydrographic survey equipment market in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022. Countries in this region include China, India, Malaysia, and the Rest of Asia Pacific. Rise in exploration and production, port & harbor management, along with the development of offshore wind energy parks in the region are fuelling the growth of the hydrographic survey equipment market in the Asia Pacific.

Contracts is the key strategy adopted by industry players to grow in the hydrographic survey equipment market. The core competencies of these market players include their widespread geographical presence and increased investments in R&D.

Key Companies Outlook

Major players in the hydrographic survey equipment market are Kongsberg Gruppen ASA (Norway), Teledyne Technologies (US), INNOMAR Technologie GmbH (Germany), Edgetech (US), Sonardyne International (UK), iXblueSaS (France), and SyQwest Inc. (UK), among others.

Teledyne Technologies Inc. (US) operates its business through four business segments, namely, instrumentation, aerospace and defense electronics, digital imaging, and engineered systems. The company provides hydrographic survey equipment through its instrumentation segment. Teledyne Marine, under the instrumentation segment, is a group of companies dealing with research and design of undersea products.The company mainly focuses on securing contracts and new product launches to improve its position in the hydrographic survey equipment market. In 2017, Teledyne Marine, a business unit Teledyne Technologies Inc. received a contract from the US DoD to deliver 60 upgraded SeaBotix ROVs. In 2016, the Finland Transport Agency awarded a contract to Teledyne CARIS Inc., a business unit of Teledyne Technologies Inc. to provide the new bathymetric data management system.

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