New York, NY, April 14, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Underwater Acoustic Communication Market Share, Size, Trends, Industry Analysis Report, By Interface Platform (Sensor Interface, Acoustic Modem); By Application; By Communication Depth, By End User; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global underwater acoustic communication market size/share is anticipated to be valued at approximately USD 2.07 Billion in 2022 and is projected to hit a revenue of around USD 5.64 Billion By 2032, at a CAGR of around 10.6% between 2023 and 2032.”
What is Underwater Acoustic Communications? How Much is Underwater Acoustic Communication Market Size & Share?
- Report Overview
Underwater acoustic communication involves sending and receiving messages beneath the water's surface, primarily used for identifying, tracking, and localizing enemy targets, including submarines and surface ships. Acoustic sensors also play a significant role in firing certain weapons.
Military applications extend beyond anti-submarine warfare and include rapid environmental assessment, intelligence, surveillance, and reconnaissance missions using unmanned underwater vehicles (UUVs). As underwater security issues continue to grow, developing countries are likely to invest more funds into naval defense, driving the underwater acoustic communication market sales. Additionally, commercial industries, such as oil and gas, can benefit from underwater communication systems.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Request.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Teledyne Technologies Incorporated
- KONGSBERG
- Thales
- L3Harris
- Ultra
- Sonardyne International
- EvoLogics GmbH
- Moog
- Nortek
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Prominent Drivers of the Market
- Increase in defense spending: The rise in global defense spending, driven by threats, contested regions, and security concerns, is a primary driver for underwater acoustic communication market growth. The naval defense system predominantly uses UCS for dependable and secure communication, and the military uses it for underwater surveillance and to find infiltration.
- Benefits for corporate operations: UCS benefits corporate operations, especially in industries like the oil and gas industry. The system is employed to look at submerged resources, aiding in resource exploration and extraction and making it a crucial tool for companies in these industries.
- Growing importance of scientific exploration and data collection: The increasing importance of scientific exploration and data collection is creating wide opportunities for the growth of the underwater acoustic communication market share. These systems are utilized for underwater exploration and data gathering, making them very helpful for science.
- Role in scientific research: UCS helps in scientific research as well. Autonomous underwater vehicles have been deployed to find crashed planes and investigate the causes of their crashes. These tools locate underwater objects that aid in mapping and finding, fueling the growth of the industry, which is expected to continue throughout the forecast period.
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Top Report Findings
- Rise in the usage of online applications and the need to protect sensitive private data for security.
- The market is segmented into interface platform, application, communication depth, end user, and region.
- In 2022, the North America region led the global market.
Top Trends Influencing the Market
- Increased demand for underwater communication systems: The need for effective underwater communication systems is rising, driven by the growing demand for offshore exploration and production, oceanographic research, and defense operations.
- Advancements in sonar technology: Developing new sonar technologies, such as synthetic aperture sonar and multibeam echo sounders, is improving the accuracy and resolution of underwater imaging and mapping. These advancements are driving the underwater acoustic communication market trend.
- Growing use of unmanned underwater vehicles (UUVs): The use of UUVs is increasing in various industries, including defense, oil and gas, and oceanographic research. These vehicles require sophisticated underwater acoustic sensors for navigation, communication, and data collection.
- Increasing demand for underwater acoustic sensors: The growing need for underwater surveillance and monitoring drives the demand for acoustic sensors. These sensors are used for various applications, including environmental monitoring, marine life observation, and underwater security. Hence, this gives rise to the expansion of the underwater acoustic communication market size.
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Segmental Analysis
- Acoustic modem segment is projected to experience significant growth in the near future
Based on the interface platform and underwater acoustic communication market segmentation, the acoustic modem segment generated the largest revenue share in 2022. This was primarily due to its increased use of naval defense equipment. These devices enable command and control, remote monitoring, and submarine communication.
- As of 2022, the environmental monitoring segment holds the largest market share
The US Environmental Protection Agency's Environmental Monitoring and Assessment Program (EMAP) conducts research on aquatic ecosystems across the country to study the underwater environment. The threat of oil spills and leaks from offshore oil and gas production is a significant environmental hazard that the program aims to address.
- Medium water segment is anticipated to achieve the highest growth rate among other segments in the coming years
The medium water segment is projected to experience rapid growth, driven by a growing need for efficient monitoring and secure process control systems. Additionally, there is a rising environmental awareness among the public and companies seeking to minimize their environmental impact.
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Geographic Overview
North America: The underwater acoustic communication market demand in the North America region is expected to dominate revenue share. The United States is responding to increasing security concerns by utilizing unmanned underwater vehicles (UUVs) for anti-submarine warfare and surveillance. This trend is expected to drive the growth of the UUV market in both the commercial and defense sectors.
Asia Pacific: Meanwhile, the Asia Pacific region is projected to experience the highest growth rate during the study period. The region's growth can be attributed to ongoing geopolitical tensions among neighboring countries for coastal areas to attain control over undiscovered fishing zones and mineral-rich areas beneath the sea.
Browse the Detail Report “Underwater Acoustic Communication Market Share, Size, Trends, Industry Analysis Report, By Interface Platform (Sensor Interface, Acoustic Modem); By Application; By Communication Depth, By End User; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/underwater-acoustic-communication-market
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Recent Developments
- KONGSBERG signed a contract in Jan 2023 with the Commonwealth of Australia for a precision strike missile and supporting equipment, enhancing the Royal Australian Navy's capabilities. Commonwealth, Australian business, and Kongsberg Defence & Aerospace will collaborate to complete the contract.
- Teledyne Technologies acquired Chart World International Limited in Jan 2023, a renowned supplier of affordable digital marine navigation hardware and software. This broadens Teledyne's customer base, enhancing its software capabilities and recurring revenue.
Frequently Asked Questions:
- What is underwater acoustic communication?
- What are the key drivers of the market?
- Which region is expected to dominate the market?
- What are the recent developments that took place in the market?
- What factors are responsible for the growth of the market?
Polaris Market Research has segmented the Underwater Acoustic Communication Market report based on interface platform, application, communication depth, end user, and region:
By Interface Platform
- Sensor Interface
- Acoustic Modem
By Application
- Environment Monitoring
- Pollution Monitoring
- Hydrography
- Oceanography
By Communication Depth
- Shallow water
- Medium water
- Long Water
- Full ocean
By End User
- Oil and Gas
- Military and Defense
- Homeland Security
- Scientific Research and Development
- Marine
By Region
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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