What is the global market size of Underwater Acoustic Modems Market?

Global Underwater Acoustic Modems Market was valued at USD 89.25 Million in 2021, and it is expected to reach a value of USD 150.99 Million by 2028, at a CAGR of 7.80% over the forecast period (2022-2028). Read More

Underwater Acoustic Modems Market Size, Share, Growth Analysis, By Range(Shallow Water (Up to 350 Meters), Medium Range (Up to 1500 Meters), Long Range (Up to 6000 Meters), Full Ocean Range (Up to 10000 Meters)), By Application(Submarine Communications, Submarine Wireless Command, Control Submarine Data & File Transfer), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45J2157 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 64 | Figures: 75

Underwater Acoustic Modems Market Dynamics

Underwater Acoustic Modems Market Driver

Revenue growth in the underwater acoustic modem market is anticipated to be primarily driven by the rise in oil and gas mining globally.

Revenue growth in the underwater acoustic modem market is anticipated to be primarily driven by the rise in oil and gas mining globally, especially in emerging economies such as Brazil, Russia, India, China, and South Africa. These underwater acoustic modems are installed in oil fields and processing plants for use with pipeline monitoring equipment, environmental monitoring equipment, and oceanographic instruments.

Underwater Acoustic Modems Market Restraint

Limited resource availability and high cost of production are major restraints.

The global underwater acoustic modems market is very cost sensitive as these are very costly and need a huge cost for production which will restrain the market growth during the analysis period.

Underwater Acoustic Modems Market Report Snapshots

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Underwater Acoustic Modems Market size was valued at USD 1.78 billion in 2019 and is poised to grow from USD 1.92 billion in 2023 to USD 3.67 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

The Underwater Acoustic Modems market is relatively fragmented, with a high level of competition. Few large players, like Teledyne Technologies, Thales Group, and Kongsberg Gruppen, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Teledyne Technologies', 'Kongsberg Gruppen', 'EvoLogics GmbH', 'Sonardyne International', 'Ocean Innovations', 'DSPComm', 'LinkQuest Inc.', 'Nortek AS', 'Aquatic Sensor Network Technology (AquaSeNT LLC)', 'Sound Metrics Corp.', 'Evologics GmbH', 'Edgetech', 'L-3 Communications Klein Associates, Inc.', 'Gisma Steuerungstechnologie GmbH', 'Marimatech AS', 'R2Sonic, LLC', 'Tritech International Ltd', 'Mitsui E&S Holdings Co., Ltd.', 'RTsys', 'OceanSonics Ltd.'

Revenue growth in the underwater acoustic modem market is anticipated to be primarily driven by the rise in oil and gas mining globally, especially in emerging economies such as Brazil, Russia, India, China, and South Africa. These underwater acoustic modems are installed in oil fields and processing plants for use with pipeline monitoring equipment, environmental monitoring equipment, and oceanographic instruments.

Due to the development of underwater acoustic modems, it is now possible to employ technologies like GPS and Wi-Fi below the surface of the water. Since modems are frequently used in wet environments, they quickly deteriorate due to corrosion. As a result, manufacturers are working on corrosion-proof acoustic modems. These acoustic modems are protected from the elements and have a longer lifespan thanks to their hard-coat anodized aluminum composite housing. One such modem is the Teledyne ATM-925 from their 920 Series.

In 2021, North America accounted for the largest market share of the market and is expected to do so during the analysis period. The US accounts for the largest naval fleet globally and consists of the highest submarine count that is equipped with underwater acoustic modems which are mainly used in the defense sector or by the navy for storing valuable information and other sensitive data. Increasing defense expenditure and growing R&D in naval ships are the major drivers for the use of these acoustic modems in it and will drive the market during the forecast period.

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Underwater Acoustic Modems Market Dynamics

Underwater Acoustic Modems Market Report Snapshots

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