Global Underwater Acoustic Communication Market Size study & Forecast, by Interface Platform (Sensor Interface, Acoustic Modem), by Communication Depth (Shallow Water, Medium Water, Long Water, Full Ocean), by Application (Environmental Monitoring, Pollution Monitoring, Climate Monitoring, Hydrography, Others), by End-User (Oil & Gas, Military & Defense, Homeland Security, Scientific Research & Development, Marine), and Regional Analysis, 2022-2029
Global Underwater Acoustic Communication Market is valued at approximately USD 1.70 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.0% over the forecast period 2022-2029. Underwater acoustic communication is a technique for transmitting and receiving messages underneath the water's surface. The use of acoustic waves rather than electromagnetic signals distinguishes underwater acoustic communication from terrestrial communication. Growing underwater exploration activities, especially for environmental protection, are propelling the global underwater acoustic communication market. The market growth is primarily driven by factors such as the rising need for reliable and secure communication in the defense and homeland security sectors, coupled with the increasing deployment of acoustic navigation for underwater positioning.
The growing adoption of underwater acoustic modems in the oil & gas industry is acting as a catalyzing factor for market expansion globally. For instance, according to Statista, in 2020, the global investment towards oil and gas was estimated to account for nearly USD 270 billion, which is significantly rising and reached to around USD 307 billion by 2022. Therefore, the growing investment in the oil & gas industry is substantially influencing the adoption of underwater acoustic modems, which, in turn, augments the market growth globally. Furthermore, the increasing proliferation of 5G network for underwater communication, as well as surging demand for environmental monitoring and seafloor mapping are leveraging various lucrative opportunities for the market growth over the forecasting years. However, bandwidth limitation associated with underwater acoustic communication and security threat in underwater communication stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Underwater Acoustic Communication Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the presence of leading market players and the rise in focus on developing advanced technologies for underwater acoustic communication. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as growing expenditure on military and defense, as well as the growing investments from oil companies for drilling in the regional market.
Major market players included in this report are:
Shimadzu Corporation
L3Harris
Ultra
KONGSBERG
Thales
Sonardyne International
Teledyne Technologies Incorporated
EvoLogics GmbH
Moog, Inc.
Nortek
Recent Developments in the Market:
In July 2022, Teledyne Technologies declared the acquisition of NL Acoustics- a Finland-based acoustics-based predictive maintenance solution provider. NL Acoustics specializing in advanced acoustic imaging instruments, which offers easy-to-use acoustic cameras that are used for predictive maintenance including locating faults, making production processes more efficient, and saving energy and costs.
In March 2022, Sonardyne announced the introduction of a Deck Topside, which can acoustically test, load, interrogate and activate the acoustic release transponders, as well as initiation transponder 6 (IT 6).
Global Underwater Acoustic Communication Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Interface Platform, Communication Depth, Application, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Interface Platform:
Sensor Interface
Acoustic Modem
By Communication Depth:
Shallow Water
Medium Water
Long Water
Full Ocean
By Application:
Environmental Monitoring
Pollution Monitoring
Climate Monitoring
Hydrography
Others
By End-User:
Oil & Gas
Military & Defense
Homeland Security
Scientific Research & Development
Marine
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Companies Mentioned
Shimadzu Corporation
L3Harris
Ultra
KONGSBERG
Thales
Sonardyne International
Teledyne Technologies Incorporated
EvoLogics GmbH
Moog, Inc.
Nortek
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
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