Global Hydrographic Survey Equipment Market - Introduction
- Hydrographic survey equipment is used to record physical features of coastal areas, oceans, streams, seas, and lakes. The key objective of this survey is to ensure the safety of maritime navigation.
- Hydrographic surveys are sometimes employed interchangeably with maritime cartography; however, maritime cartography is the final stage, translating raw data into hydrographic surveys to collect some useful information
- The value of hydrographic surveys varies according to the authority that approves them. This survey tests the depth and analyzes the distance from the coast between survey ships.
Key Drivers and Restraints of Global Hydrographic Survey Equipment Market
- Technological innovations and product enhancement, increasing demand for offshore oil, oil and gas exploration are key factors that drive the market. In future, the oil and gas sector would need precise positioning systems, high-resolution sounds and acoustic equipment.
- Cost and time inefficiency are key constraints on the hydrographic equipment market
- The global hydrographic survey equipment market is driven by offshore industries such as oil & gas. Construction of offshore marine infrastructure fields such as bridges, effluent disposal systems, and ports for various industries and coastal thermal power plants, where seawater is used as a coolant, are other factors that fuel the market.
- Advanced techniques, such as modularization, and standardization are projected to lead to completion of work on time and lower costs, which is a major factor that is estimated to boost the global hydrographic survey equipment market
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Hydrographic Chartings Segment to Expand Significantly
- Based on application, the global hydrographic survey equipment market can be segmented into port and harbor management, hydrographic charting, coastal engineering, and offshore oil and gas.
- Nautical and hydrographic maps ensure secure navigation. This is becoming increasingly essential owing to rise in commercial shipping, recreational boating, as well as fishing activities.
- Port management involves supervision of the shipping industry's various components for efficient and organized operations. Ports include warehouses, vessels, and freight and loading docks. Echo sounding is another new hydrographic technology, which uses sound pulses to determine the depth of the waters.
- Coastal technology is the study of the coastal processes, such as corrosion, abrasion, hydraulic action and shore-based constructions. It also includes civil engineering, oceanography, marine geology elements, mostly aimed at providing access to navigation.
Asia Pacific to Lead Global Hydrographic Survey Equipment Market
- In terms of region, the global hydrographic survey equipment market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Demand for hydrographic survey equipment is estimated to be significantly high in Asia Pacific from 2019 to 2027 due to technological advancements and development and management of the coastal zones in the region
- Moreover, rise in maritime trade among developing countries such as India and China also boosts the global hydrographic survey equipment market
- The market in North America is also projected to expand at a significant growth rate during the forecast period owing to the expansion of the oil & gas industry in the region. Pipeline route survey application is majorly used in North America and Europe due to the developed oil and gas exploration in these regions.
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Key Manufacturers Operating in Market
The global hydrographic survey equipment market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Innomar Technologie GmbH
- Thales Group
- Seafloor Systems Inc.
- Atlas Electronik GmbH
- Nikon-Trimble Co., Ltd.
- Moog Inc.
- Faro Technologies, Inc.
- Topcon Corporation
- Trimble Navigation Limited
- Kongberg Gruppen ASA
- Hexagon AB
- Raytheon Company
- Teledyne Technologies, Inc.
Global Hydrographic Survey Equipment Market: Research Scope
Global Hydrographic Survey Equipment Market, by Type
- Sensing Systems
- Positioning Systems
- Water level league
- Unmanned Vehicles
Global Hydrographic Survey Equipment Market, by Depth
- Shallow Water
- Deep Water
Global Hydrographic Survey Equipment Market, by Application
- Hydrographic charting
- Offshore oil and gas
- Port and harbor management
- Coastal engineering
Global Hydrographic Survey Equipment Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.