Overview and Scope
Marine acoustic sensors refer to devices that are used to detect and analyze sound underwater. They can detect and analyze different types of sounds, such as marine mammal vocalizations, ship noise, and underwater geological activity, and play a crucial role in marine research, offshore industries, and defense applications, providing valuable data for understanding and monitoring the underwater environment.
Sizing and Forecast
The marine acoustic sensors market size has grown strongly in recent years. It will grow from $1.12 billion in 2023 to $1.2 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to the need for underwater surveillance, early navigation relied on acoustic signals for underwater mapping, acoustic sensors have been crucial in monitoring fish populations, acoustic sensors have been instrumental in offshore exploration, the need for reliable communication underwater.
The marine acoustic sensors market size is expected to see strong growth in the next few years. It will grow to $1.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to growing demand for underwater surveillance, expansion of offshore wind farms, rising importance of oceanographic research, emergence of autonomous underwater vehicles (AUVs), increasing maritime traffic. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning (ML), integration of wireless communication, advancements in signal processing, miniaturization and integration and product innovation.
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Segmentation & Regional Insights
The marine acoustic sensors market covered in this report is segmented –
1) By Product: Hydrophones, Underwater Transducer, Acoustic Towed Array, Side-Scan Sonar
2) By Application: Mine Countermeasures (MCM), Intelligence Surveillance And Reconnaissance, Identification (ID), Anti-Submarine Warfare (ASW)
3) By End Use: Original Equipment Manufacturers (OEMs), Aftermarket
Top 5 Major Players:
- Lockheed Martin Corporation,
- Thales Group,
- L3Harris Technologies Inc.,
- Teledyne Marine Technologies Incorporated,
- Kongsberg Maritime AS
North America was the largest region in the marine acoustic sensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the marine acoustic sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increased demand for marine transport is expected to propel the growth of marine acoustic sensor market going forward. Marine transport refers to the transportation of goods and passengers via waterways such as oceans, seas, rivers, and canals using ships, boats, or other watercraft. The increase in demand for marine transport is attributed to the rising need for commodities driven by population growth and urbanization, consequently boosting trade volumes. Marine transport facilitates the deployment and maintenance of marine acoustic sensors by enabling the transportation of equipment to offshore locations and facilitating access to diverse marine environments for research and monitoring purposes. For instance, in November 2022, according to the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, global maritime trade rebounded in 2021, experiencing 3.2% growth, with total shipments reaching 11 billion tons. Moreover, maritime trade is projected to have an average annual expansion of 2.1% for the period between 2023 and 2027. Therefore, increased demand for marine transport is driving the growth of the marine acoustic sensor market.
Key Industry Players
Major companies operating in the marine acoustic sensors market are Lockheed Martin Corporation, Thales Group, L3Harris Technologies Inc., Teledyne Marine Technologies Incorporated, Kongsberg Maritime AS, Nortek AS, Fugro N.V., Ultra Electronics Holdings plc, MacArtney A/S, Sonardyne International Ltd, General Oceans Ltd, EdgeTech Marine, Kraken Robotics Inc., JASCO Applied Sciences Ltd, 3D at Depth Inc., Cetacean Research Technology (CRT), RTsys, Rowe Technologies Inc., Evologics GmbH, GeoSpectrum Technologies Inc., Ocean Sonics Ltd, EOM Offshore LLC, BlueView Technologies Inc., RJE International Inc., DSPComm
The marine acoustic sensors market report table of contents includes:
1. Executive Summary
2. Marine Acoustic Sensors Market Characteristics
3. Marine Acoustic Sensors Market Trends And Strategies
4. Marine Acoustic Sensors Market – Macro Economic Scenario
5. Global Marine Acoustic Sensors Market Size and Growth
….
32. Global Marine Acoustic Sensors Market Competitive Benchmarking
33. Global Marine Acoustic Sensors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marine Acoustic Sensors Market
35. Marine Acoustic Sensors Market Future Outlook and Potential Analysis
36. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Marine Acoustic Sensors Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Marine Acoustic Sensors Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Marine Acoustic Sensors Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 74: Lockheed Martin Corporation Financial Performance
Table 75: Thales Group Financial Performance
Table 76: L3Harris Technologies Inc. Financial Performance
Table 77: Teledyne Marine Technologies Incorporated Financial Performance
Table 78: Kongsberg Maritime AS Financial Performance
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