According to a new market research report "Hydro survey Equipment Market by Application (Hydrographic Charting, Offshore Oil and Gas, Coastal Engineering, Port and Harbor Management), by Product (Sonar, GPS/DGPS, Echo sounder, Profiler, Tide gauge) & Region (Africa, The Asia-Pacific, Americas, Europe, The Middle East) - Forecasts & Analysis to 2014 - 2020", the hydrographic equipment market is estimated at $2,496.92 million in 2014 and is expected to register a CAGR of 2.73% to reach $2,934.18 million by 2020.
Browse 57 market data tables, 12 figures spread through 156 pages and in-depth TOC on “Hydro survey Equipment Market”.
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Hydrography deals with the measurement and description of the bodily features of oceans, seas, coastal areas, lakes,and rivers. Hydrography also predicts the changes in these physical features over time. The primary objective of hydrography is the safety of navigation and other marine activities such as offshore oil and gas, security and defense, scientific research, port and harbor management, and environmental protection. Commissioning of new hydrographic surveys and updating of nautical charts are the main growth stimulating factors for this market.
This report presents a complete analysis of the global hydrographic equipment market across the forecast period. It analyses the factors driving the market, challenges faced by the industry, factors restraining the growth of the market, and opportunities for industry players. It also provides an understanding of hydrography related contracts implemented, along with the ongoing procurement trends of the sub-segments in this report.
The forecast has been done by focusing on the commercial shipping sector. Based on the vessel type, we have considered equipment ranging from sound and acoustic systems, positioning systems, and environmental instruments. Sound and acoustic products comprise of side scan sonar, towed or fixed sonar system, single beam, and multi beam echosounder. Positioning system includes traditional GPS and DGPS (Differential Global Positioning System). Environmental instruments comprise of tide gauges.Key technology trends that may influence the global hydrographic equipment market have also been discussed.
With respect to applications, hydrographic charting captures a majority of the market size with 70%, followed by offshore oil and gas, coastal engineering, and port and harbor management. However, the offshore oil and gas application for exploration, drilling, and lying of pipeline is on the rise.The increase in the fuel prices is leading to exploration of offshore oil and gas reserves and rising demand for new nautical charts by seafarers globally will drive this market in the future.
The commercial ship industry is one of the largest consumers of hydrographic equipment. The shipping industry trends during the forecast period indicate a massive change in the vessel type depending on its size and gross tonnage. Future deliveries of vessels would definitely require the latest hydrographic data pertaining to navigational aids, like nautical charts, vessel traffic management at ports and harbors.
The Asia-Pacific region is expected to observe tremendous rise in the hydrographic equipment market followed by Europe and the Middle East, and are expected to account for 78% of all pipeline expenditure in offshore oil and gas. This will drive the hydrographic equipment market to grow over the next five years. The coastal Engineering sector will have the highest CAGR in the APAC region followed by hydrographic charting sector, and will account for 10% of the market size during the forecast period. Potential future markets include major emerging economies such as Singapore, the U.K, the Netherlands, Denmark, Brazil, and Russia.
The major players in the hydrographic equipment market are from the U.S and Europe namely Kongsberg Maritime AS (Norway), Raytheon Company (U.S.), Teledyne Marine (U.S.), Thales (France), and ATLAS ELECTRONIK Gmbh (Germany).
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