CHICAGO, Jan. 4, 2023 /PRNewswire/ -- The global Underwater Acoustic Communication Market size is projected to grow from USD 2.1 billion in 2023 to USD 3.5 billion by 2028; it is expected to grow at a CAGR of 11.0% from 2023 to 2028 according to a new report by MarketsandMarkets. The key factors contributing to the growth underwater acoustic communication market are intensifying need for reliable and secure communication in defense and homeland security. However, limited speed of data transmission and delayed delivery rates in underwater communication is hindering the growth of underwater acoustic communication market. Security threat in underwater communication possesses a huge challenge to the industry. However, growing focus on usage of 5G network for underwater communication biggest opportunity in the market space during the forecast period.
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Rising use of acoustic modems to transfer information cost-effectively boosts market growth
Acoustic modems provide a cost-effective and convenient method of information transfer between the surface and the sub-sea asset. Depending on the modem chosen, acoustic modems are rated for varying depths and can operate in shallow water or deep-water environments. Modem applications include wellhead and pipeline valve control, remote monitoring of oceanographic sensors, positioning, subsea networking and command of autonomous underwater vehicles (AUVs).
Shallow water by communication depth to hold second largest market share during the forecast period
L3 Harris launched PASOR Portable Acoustic Range (PAR) that provides calibrated submarine and surface ship source level signature measurements by processing the output from multiple GPS-enabled noise measurement sonobuoys. PASOR PAR provides range management through bi-directional acoustic voice and data communications with submarine or surface units. These acoustic sensors are suspended at 30-300 m depth (typically 30-100 m depth).
Increased research in ocean mapping and seabed navigation to drive market growth for hydrography application in underwater acoustic communication market
Hydrography is the study of the navigable ocean surface. Ocean mapping and seabed navigation have become an extensive area of research because of the recent technological developments in positioning, extraction of seabed information, remote sensing, and production of digital products. EvoLogics has deployed acoustic modems providing acoustic underwater communication to the environmental monitoring station of the Marine Environment Observation Network (MARNET) of the Federal Maritime and Hydrographic Agency of Germany (BSH).
Growing need for reliable communication to fuel market for underwater acoustic communication in oil & gas end user
The oil & gas industry is vital to any country's economy. Companies have to take responsibility for pollution and its environmental impact along with increasing their market share. Accidental oil releases, pipeline breakage, and toxic releases in water pose a serious environmental threat. Hence, acoustic modems are widely used in the oil & gas industry to monitor the undersea environment. The increasing offshore activities, such as mine exploration and pipeline detections, are expected to boost the adoption of UUVs in the US in the coming years.
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North America to witness second highest CAGR during the forecast period
North America is estimated to account for the second highest of the underwater acoustic communication market in 2028. Owing to the growing security concerns in the US and Canada, these countries are using unmanned underwater vehicles (UUVs) for various defense operations such as anti-submarine warfare, security, and surveillance.
The key players operating in the underwater acoustic communication market are L3Harris (US), Sonardyne International (UK), Teledyne Technologies Incorporated (US), Moog, Inc. (US), Thales (France), Ultra (UK), EvoLogics GmbH (Germany), KONGSBERG (Norway), and Nortek (Norway). These players in this market have adopted various strategies to expand their global presence and increase their market shares.
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