Hydrographic Survey Equipment Market Worth 2.74 Billion USD by 2022

PUNE, India, July 28, 2017 /PRNewswire/ --

The report "Hydrographic Survey Equipment Market by Type (Sensing System, Positioning System, Subsea Sensor, Unmanned Vehicle, Software), Application (Port & Harbor, Oil & Gas, Cable, Charting), Depth, Platform, End User, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the 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.

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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.

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.

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The deep water segment is projected to grow at the highest CAGR during the forecast period 

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.

The Asia Pacific hydrographic survey equipment market is projected to witness the highest growth during the forecast period 

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 fueling the growth of the hydrographic survey equipment market in the Asia Pacific.

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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), iXblue SaS (France), and SyQwest Inc. (UK), among others.

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