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
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.