The global Hydro Survey Equipment Market is expected to reach $2,934.18 million by 2020. The report segments the market and lists the drivers such as demand for accurate and precise nautical charts and exploration for new areas for oil and gas reservesto boost the global market. The report provides information of the major players in this market, which are restricted to a few manufacturers, of which Kongsberg maritime, AS is the leader that captures13.62% of the global market share in 2014. It also defines the challenges that exist in the market such as up to date information of navigational areas.
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 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.
The overall Hydro Survey Equipment Market is increasing with a CAGR of 2.73% from 2014 to 2020. The major applications for the market are hydrographic charting and offshore oil and gas. Sound and acoustic products such as sonar and side scan sonars and positioning systems are the major shareholders in the market while the Echosounder has the highest growth potential, followed by profilers and tide gauges.
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).
This global hydro survey equipment market categorizes the global market on the basis of application, product, region, and country. The report also provides a detailed analysis of the revenues that are expected to be incurred during the forecast period, market size, and analyzes trends in each of the regions, on the basis of hydrographic applications.