Underwater Acoustic Communication Market Size Cross USD 4 Billion by 2029
Underwater acoustic communication market is flourishing because of the growing use of acoustic navigation for underwater locating, rising environmental awareness, and increasing adoption of underwater acoustic modems in naval defence.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global underwater acoustic communication market size at USD 1.9 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global underwater acoustic communication market size to grow at a significant CAGR of 13.6% reaching a value of USD 4 billion by 2029. Major growth factors for global underwater acoustic communication market include the increasing use of underwater acoustic communication for exploration, security, and monitoring by a variety of end users. Due to the increase in security threats, major countries, such as the US and Canada, are increasingly employing underwater acoustic communication devices for naval and security purposes in unmanned underwater vehicles. Continuous R&D to tackle the challenges of underwater communication is expected to propel the industry forward. Another market driver is an increase in environmental consciousness and a major increase in efforts to conserve and protect the environment. A surge in underwater exploration programs for environmental protection is another aspect driving expansion. Underwater acoustic communication devices are gaining ground on established methods for seafloor mapping and data collection. Underwater audio communication is also becoming more popular as a warning system for underwater earthquakes or tsunamis, as well as for monitoring underwater pollutants and habitat. They are also used to check water quality and forecast the weather. These factors are expected to drive the expansion of global underwater acoustic communication during the forecast period.
Global Underwater Acoustic Communication Market – Overview
Underwater acoustic communication is a method of sending and receiving signals beneath the surface of the water. Underwater acoustic communication differs from terrestrial communication in that it uses acoustic waves rather than electromagnetic signals. Sound waves are used for improved communication in underwater acoustic communication because they move well under water. Underwater acoustic communication is concerned with the underwater propagation of sound and mechanical wave interactions that aid in the development of sound within water. In the recent decade, underwater vehicles have been used to explore natural undersea resources and collect critical data in underwater marine research operations.
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Impact of COVID-19 on Global Underwater Acoustic Communication Market
COVID-19 had a limited impact on the underwater acoustic modem business. Rising coronavirus incidence around the world resulted in stringent social distance and lockdown norms, causing supply chain disruption and hurting product demand. There was a decrease in military and defense spending, affecting product demand during the pandemic.
Global Underwater Acoustic Communication Market – By End User
Based on end user, global underwater acoustic communication market is segmented into Oil & Gas, Military & Defense, Homeland Security, Scientific Research & Development, and Marine. The Military & Defense segment holds the highest market share. A key factor driving the global underwater acoustic communication market is the growing need for dependable long-distance communication in order to transmit acoustically encoded tactical messages from a user-controlled station to a submerged submarine or other underwater asset. Unreliable or unsecure systems provide unacceptable risks, resulting in asset and person loss. Submarine communications systems, including AUV communication and diver communications systems, are among the many applications of underwater acoustic communication. These advanced communication networks are used by Special Forces for mine clearance and other military missions. In order to strengthen the robustness of large-scale underwater network deployment and high data-rate underwater communication, underwater communications and networks are embracing more modern technologies and innovations.
Competitive Landscape
Major players operating in global underwater acoustic communication market include Thales Group, Teledyne Technologies, Ultra-Electronics, Kongsberg Gruppen ASA, L3 Harris, Sonardyne Int. Ltd, General Dynamics, Nortek Group, Sparton Corp, Sercel Underwater Acoustic, EvoLogics GmbH, Hydroacoustics, Inc., Gavial Holdings, UniEnergy Technologies., Mistral Solutions Pvt. Ltd., Proserv UK Ltd., and Subnero Pte Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Underwater Acoustic Communication Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Underwater Acoustic Communication Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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