Factors Driving the Market Growth:
– Increasing oil and gas explorations
Growing amount of deepwater activities in petroleum field development projects in the Gulf of Mexico, Brazil, and West Africa, as well as other developing areas, expected to drive demand for hydrographic survey machinery.
– Rising offshore wind energy products
Nautical and hydrographic charts help to ensure secure navigation. As renewable offshore wind power projects grow, this is becoming increasingly crucial. This is driving the growth of the market and is expected to accelerate even further during the forecast period.
Factors Restraining the Market Growth:
– High survey cost
High investment cost and seasonal demand is affecting sales of hydrographic survey equipment. Along with the costs associated with carrying out hydrographic surveys, the time taken to carry out hydrographic surveys can function as the primary constraint on the market for hydrographic machinery potentially growing.
Market Segmentation 2019-2029:
The Hydrographic Survey Equipment Market is segmented on Type, Application, Depth, Platform, End user, and Regional basis.
– Sensing System
– Positioning System
– Subsea Sensor
– Unmanned Vehicle
– Port & Harbor
– Oil & Gas
– Shallow Water
– Deep Water
– Surface Vessels
– USVs and UUVs
Focused regional forecasts and analysis explore the future opportunities:
– North America
– Global hydrographic survey equipment competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry
– The market competition is expected to be on the basis of new product development and product pricing.
Major Market Players:
Lic Technology, Ohmex, Raytheon Company, Seafloor Systems, Thales, Teledyne Reson A/S, Teledyne Odom Hydrographics, Furgo, Atlas Elektronik GmbH., Valeport, Seafloor Systems, Kongsberg Maritime AS, Hydro International, Teledyne Marine and Raytheon Company.
Visiongain is a trading partner with the US Federal Government
CCR Ref number: KD4R6
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