Global Hydrographic Survey Equipment Market to Grow at a CAGR of 5.8% During 2020-2030.

Introduction

A hydrographer uses various tools and equipment to carry out hydrographic survey projects, resulting in the raster and electronic nautical charts produced from this information. These tools and pieces of equipment include sensing systems, which include single and multi-beam echo sounders and sonars; positioning systems, which include inertial navigation systems (INS), acoustic positioning systems, satellite, and land-based positioning systems; subsea sensors, which include motion reference units, tide gauges, and wave recorders, magnetometers, current meters. Hydrography is a method that can measure and describe the physical qualities of the surface of the water below the earth's surface. Hydrographic surveyors investigate the bodies of water to get a glimpse of the ocean floor.

Market Dynamics

The importance of Hydrographic Surveys in the Construction of Marine Projects and Rise in Offshore Wind Energy Projects drives the Global Market

The surveying of the physical characteristics present underwater can be referred to as either hydrographic or bathymetric surveying. It is the study of measuring all underwater parameters that impact all marine activities such as marine constructions, offshore drilling, and dredging. Hydrographic surveyors conduct underground inspections to gain precise knowledge of the seabed and locate irregularities and elevations. The advancement of mapping technologies has made it possible to view underwater environments in three and even four dimensions, providing asset managers and operators with a new point of view. With 4D technology, data functionality is improved by including time dimensions. As a result, it is possible to keep track of an area over time because it provides a more accurate picture of the region. For instance, the development can be monitored over time.

Contrary to onshore wind farms, offshore wind farms have the potential to generate more electricity at a more consistent rate. Wind offshore wind farms are significantly more space-efficient and productive than land-based ones. These are the primary contributors to the worldwide increase in offshore wind farms installed. The acquisition of data, processing that data accurately, and positioning within offshore and onshore marine environments are all areas of expertise for hydrographic surveyors. It is essential for the engineers who are constructing offshore wind farms to have these capabilities to determine whether the seabed will be able to support the construction.

Consequently, this results in a design that is both economical and secure, which enables developers to obtain the lowest possible investment while still achieving the highest possible efficiency from an offshore wind farm. Because of this, it is anticipated that the market for hydrographic survey equipment will experience significant growth over the coming years, especially considering the increasing trend toward developing offshore wind farms worldwide.

Regional Analysis

North America is the highest revenue contributor to the global hydrographic survey equipment market and is estimated to reach USD 1,631.40 million by 2030, growing at a CAGR of 5.6% during the forecast period. North America is a desirable market for various commercial endeavors due to its proximity to several significant economies, including the United States and Canada. It is anticipated that the application of hydrographic survey data in oil and gas exploration activities, cargo shipment, research purposes, and defense and security will drive the market's growth. Increased investments by the European Union to provide end-users with high-resolution data from underwater surveys will accelerate the market's growth for hydrographic survey equipment. The rise in investments made by major economies like India, China, and South Korea is one of the key factors driving the expansion of the hydrographic survey equipment market in the region.

Key Highlights

• The global hydrographic survey equipment market was valued at USD 2.95 million in 2021. It is projected to reach USD 4.89 million by 2030, growing a CAGR of 5.8% during the forecast period (2022–2030).
• Based on type, the global hydrographic survey equipment market has been segmented into sensing systems, positioning systems, subsea sensors, software, and unmanned vehicles. The unmanned vehicles segment is the highest contributor to the market and is expected to grow at a CAGR of 6.4% during the forecast period.
• Based on depth, the global hydrographic survey equipment market has been segmented into shallow and deep water. The shallow water segment is the highest contributor to the market, growing at a CAGR of 5.6% during the forecast period.
• Based on the platform, the global hydrographic survey equipment market has been segmented into surface vessels, USVs, UUVs, and aircraft. The surface vessels segment is the highest and is expected to grow at a CAGR of 5.4% during the forecast period.
• Based on application, the global hydrographic survey equipment market has been segmented into hydrographic or bathymetry, port and harbor management, offshore oil and gas, cable or pipeline route, and others. The offshore oil and gas survey segment is the highest contributor to the market, growing at a CAGR of 6.3% during the forecast period.
• Based on the end-user, the market is distributed into commercial, research, and defense. The commercial segment is the highest contributor to the market, growing at a CAGR of 5.9% during the forecast period.
• North America is the highest revenue contributor to the global hydrographic survey equipment market and is estimated to reach USD 1,631.40 million by 2030, growing at a CAGR of 5.6% during the forecast period.

Competitive Players

Competitive Analysis

The global hydrographic survey equipment market’s major key players are Edgetech, Fugro N.V., Innomar Technologie GMBH, IX BLUE, Kongsberg Gruppen ASA, Mind Technology, Inc., Sonardyne International Ltd, Syqwest Inc., Teledyne Technologies Incorporated, Tritech International Limited (Subsidiary of Moog Inc.) and Valeport Ltd.

Recent Developments

Market News

• January 2022- EdgeTech Announced the Availability of the 6205s2 Swath Bathymetry & Side Scan Sonar System. EdgeTech, the leader in high-resolution sonar imaging systems and underwater technology, has introduced the 6205s2 Combined Swath Bathymetry & Side Scan Sonar System.
• March 2022- NOAA Northeast Fisheries Science Center (NEFSC) and iXblue completed a trial in the Block Island wind farm of the SeapiX-R 3D volume sonar. NOAA NEFSC has tested iXblue's SeapiX 3D volume sonar in the Block Island wind farm off the coast of Rhode Island, the first commercial offshore wind farm in the United States.
• May 2022- iXblue introduced a new commercial quantum sensor for accurate underground mapping.

Segmentation

Global Hydrographic Survey Equipment Market: Segmentation

By Type

• Sensing Systems
• Positioning Systems
• Subsea Sensors
• Software
• Unmanned Vehicles

By Depth

• Shallow Water
• Deep Water

By Platform

• Surface Vessels
• USVs and UUVs
• Aircraft

By Application

• Hydrographic or Bathymetry Survey
• Port & Harbor Management
• Offshore Oil and Gas Survey
• Cable or Pipeline Route Survey

By End-User

• Commercial
• Research
• Defence

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA