PUBLISHER: The Business Research Company | PRODUCT CODE: 1428053
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428053
Underwater acoustic communication involves the transmission of information or data through sound waves in an aquatic environment. This communication method is specifically designed for use in water, where traditional radio waves or electromagnetic signals are ineffective due to their limited propagation capabilities.
The primary interface platforms for underwater acoustic communication include the sensor interface, acoustic modem, and other components. A sensor interface serves as the connection and communication interface between a sensor and a system or device that processes the sensor's data. This enables the transfer of information from the sensor to the system, allowing the system to collect, interpret, and utilize the sensor data for various purposes. Underwater acoustic communication systems can operate at varying water depths, such as shallow water, medium water, long water, and full ocean communication depths. These systems find applications in environmental monitoring, pollution monitoring, climate recording, hydrography, oceanography, and other fields. Industries such as oil and gas, military and defense, scientific research and development, homeland security, and marine sectors are among the end-users employing underwater acoustic communication technology.
The underwater acoustic communications research report is one of a series of new reports from The Business Research Company that provides underwater acoustic communications market statistics, including the underwater acoustic communications industry's global market size, regional shares, competitors with an underwater acoustic communications market share, detailed underwater acoustic communications market segments, market trends and opportunities, and any further data you may need to thrive in the underwater acoustic communications industry. This underwater acoustic communications market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The underwater acoustic communication market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The expansion observed in the historical period can be attributed to applications in naval defense, requirements in the oil and gas industry, scientific research and oceanography, the deployment of underwater surveillance systems, and submarine cable maintenance.
The underwater acoustic communication market size is expected to see rapid growth in the next few years. It will grow to $3.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be attributed to the increasing demand in offshore renewable energy, the expansion of underwater robotics, the growth of commercial subsea exploration, the establishment of underwater data centers, and the heightened focus on environmental monitoring and conservation. Additionally, there is a rising application in military and defense sectors. Prominent trends expected during the forecast period include advancements in underwater navigation systems, strategic collaborations, the development of commercial offshore infrastructure, and increased research and development in the field of underwater acoustics.
The increasing emphasis on environmental protection is anticipated to drive the growth of the underwater acoustic communication market in the foreseeable future. Environmental protection involves concerted efforts to conserve the natural environment, prevent pollution, and promote sustainable practices to safeguard Earth's ecosystems and resources. Underwater acoustic communication plays a crucial role in supporting conservation initiatives and sustainable practices in aquatic environments, including underwater noise monitoring and the management of marine protected areas (MPAs). Notably, a report by Statistics Sweden in October 2022 revealed a notable 11% increase in the overall expenditure by Swedish businesses on environmental protection in 2021, reaching $2.13 billion (SEK 23 billion). The rise in demand for environmental protection, particularly in domains such as wastewater and waste management, underscores the role of underwater acoustic communication in contributing to environmental conservation.
The growing significance of military and defense industries is expected to propel the expansion of the underwater acoustic communication market. The military and defense sector encompasses activities related to the research, development, production, and maintenance of military equipment, technologies, and services. Underwater acoustic communication is instrumental in establishing secure and covert communication channels beneath the water's surface, enhancing naval operations and surveillance capabilities. This technology facilitates reliable data transmission, submarine navigation, and coordination of underwater assets, contributing to improved situational awareness and strategic operations in maritime environments. According to the Aerospace Industries Association's 2022 Facts & Figures Data in November 2022, the US aerospace and defense sector reported a 2.1% growth in combined sales revenue, reaching $892 billion in 2021. The increasing investments and sales revenue in the military and defense industries underscore the pivotal role of underwater acoustic communication in naval operations and defense applications.
The adoption of innovative technologies emerges as a prominent trend in the underwater acoustic communication market. Leading companies in the market are actively integrating new technologies to maintain their competitive edge. For instance, in March 2022, Kongsberg Maritime, a maritime technology company based in Norway, introduced the cNODE MiniS transponder, designed for applications such as placing remotely operated vehicles (ROVs), autonomous underwater vehicles (AUVs), and towed bodies. The transponder units are well-suited for tasks requiring depth data, making them particularly suitable for activities such as subsea structure detection and windfarm installation assistance. The launch of advanced transponder units exemplifies the commitment of companies to adopting new technologies to enhance underwater acoustic communication capabilities.
Major players in the underwater acoustic communication market are actively pursuing technological advancements and product innovations, as evidenced by DSIT Solutions Ltd.'s introduction of the WhitePointer system in March 2022. This state-of-the-art underwater acoustic communication system supports covert operational missions for multiple maritime vessels, tactical missions, and search and rescue operations. The WhitePointer system adheres to NATO standards and enables reliable voice and data communication among various underwater and surface platforms, including submarines, surface ships, divers, and underwater drones. The system's capacity for underwater acoustic networked communication and seamless integration with onboard communication systems positions it as a cutting-edge solution in the market.
In January 2023, Teledyne Technologies Incorporated, a US-based industrial conglomerate company, completed the acquisition of ChartWorld International Ltd. for an undisclosed amount. This strategic move aims to fortify Teledyne's presence in the marine navigation market and enhance its capabilities for commercial marine operations. ChartWorld International Ltd., based in Germany, is recognized for its expertise in digital marine navigation services, underwater acoustic communication services, and provision of digital maritime data.
Major companies operating in the underwater acoustic communication market report are Thales Group, L3Harris Technologies Inc., Teledyne Technologies Inc., Saab AB, Moog Inc., Ultra Electronics Ocean Systems Inc., Kongsberg Maritime, Channel Technologies Group, Sonardyne International Ltd., Mistral Solutions Pvt. Ltd., Tritech International Ltd., EdgeTech Marine, Aquatec Group Limited, Guralp Systems Ltd., Gavial Engineering & Manufacturing Inc., Advanced Navigation, Trelleborg Applied Technologies, Ocean Technology Systems, Xeos Technologies Inc., Blueprint Subsea, DSPComm, EvoLogics GmbH, BaltRobotics Sp.z.o.o., J W Fishers Manufacturing Co., RJE International Inc., LinkQuest Inc., Hydroacoustics Inc., Ocean Sonics Ltd., FarSounder Inc., Subnero Pte Ltd, Nortek Group
North America was the largest region in the underwater acoustic communication market in 2023. The regions covered in the underwater acoustic communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the underwater acoustic communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The underwater acoustic communication market consists of revenues earned by entities by providing services such as earthquake monitoring, environmental monitoring, ocean current monitoring, network planning and optimization, data transmission, protocol development, and system design and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The underwater acoustic communication market also includes sales of underwater acoustic modems, hydrophones, transducers, signal processing units, buoyancy modules, and power management systems, which are used in providing underwater acoustic communication services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Underwater Acoustic Communication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on underwater acoustic communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for underwater acoustic communication ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The underwater acoustic communication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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