Moreover, offshore industries also utilize subsea navigation & tracking systems in a whole set of operations such as exploration, hydrographic survey, drilling, construction survey, dynamic positioning, production, and decommissioning. On the basis of application, oil & gas exploration will hold a dominant share over the forecast period and is estimated to grow at a stable pace owing to growing demand for subsea navigation & tracking in regions such as the North America, Europe and Japan.
Subsea navigation & tracking is a system used for the navigation and tracking of underwater divers as well as vehicles by means of direction measurements/acoustic distance and subsequent position triangulation. Subsea navigation & tracking systems are generally used for a variety of underwater tasks such as ocean sciences,oil and gas exploration, salvage operations, marine archaeology and military activities.
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Global Subsea Navigation & Tracking Market: Dynamics
Drivers:
Growing ocean science study & research and growing subsea search activities are estimated to fuel the global subsea & tracking market over the forecast period. Growing worldwide demand for oil & gas exploration is also estimated to lead to an increase in demand for subsea navigation & tracking systems.
Restraints:
Long-baseline (LBL) systems-area of operation, limited to location of subsea reference beacons, will most likely hamper the growth of global subsea navigation & tracking market in future.
Some deep-water issues such as limited range due to signal fading, slow update rates due to signal travel time and reduced accuracy and robustness of USBL systems are also likely hamper the growth of global subsea navigation & tracking market in future.
Global Subsea Navigation & Tracking Market:
On the basis of type, the global subsea & tracking market can be segmented into short-baseline (SBL) systems, long-baseline (LBL) systems, ultra short baseline (USBL) systems and GPS intelligent buoys (GIB) systems.
On basis of end-use, the global subsea & tracking market can be segmented into ocean sciences, oil and gas exploration, salvage operations, marine archaeology and military activities.
Global Subsea Navigation & Tracking Market: Regional Outlook
Geographically, the global subsea navigation & tracking market can be divided into these major regions — North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa.
North America and Europe, with their developed offshore industry, will be the leading regional markets, capturing a substantial share of the global market. The Asia-Pacific region is also expected to witness high growth rate in coming years. Latin America and Eastern Europe are estimated to register fastest CAGR growth.
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Global Subsea Navigation & Tracking Market Players:
Examples of some of the market participants in the global subsea navigation & tracking market identified across the value chain include
- LinkQuest, Inc.
- iXBlue.
- Applied Acoustic Engineering.
- EvoLogics GmbH
- Planet OS Inc.
- Kongsberg Gruppen
- SONARDYNE
- Desert Star Systems LLC
- AML Oceanographic
- Nautronix
- ROMONA Inc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Subsea navigation & tracking system are also referred to as “underwater acoustic positioning systems”. The subsea navigation & tracking system are classified into short-baseline (SBL) systems,long-baseline (LBL) systems, ultra short baseline (USBL) systems and GPS intelligent buoys (GIB) systems. Owing to high accuracy and robustness of system, the long-baseline systems disproportionally hold a major market share. On other hand, since ultra-short baseline systems require only one transponder, the market for them is estimated to grow at fastest CAGR over the forecast period.
The subsea navigation & tracking market has gone through high technological advancement in recent years. Major Key manufacturers are focusing on improving accuracy and stability, which, in turn, requires high capacity sensors. These technological advancements as well as the development of different types of innovative subsea navigation & tracking systems are contributing to the growth of the global subsea navigation & tracking market.