The Ultra-Short Baseline Positioning System (USBL) market is expected to grow from US$ 92.1 million in 2017 to US$ 135.3 million by the end of 2022 at a CAGR of +8% Supply for bridge expansion joints is expected to remain low in the evaluation period. This can be attributed to apt capital expenditure on offshore refers to accentuating a US$ 256.8 billion revenue opportunity in 2033, which clocked an impressive CAGR of 6% during the years from 2023-2033. The market is expected to reach around US$143.4 Million in 2023.
Ongoing international scholar, surveyor/photo/Navy demand underpins ultra-short baseline positioning sales.
In addition to this, efforts in improving underwater communication have spurred companies to develop wireless data transmission systems. Further sales will be driven through 2031 by incorporating connected technologies such as IoT and AI to streamline marine communication.
Gain expert insights and supercharge your growth strategies. Request our market overview sample now
https://www.futuremarketinsights.com/reports/sample/rep-gb-13495
In addition, improvements in the sound-to-noise ratio (SNR) at an inverted ultra-short baseline transceiver in smaller vessels are providing longer acoustic tracking ranges. These improvements are facilitating growth in marine operations, leading to lucrative sales prospects in the market.
The growing interest in water sports and recreational tourism activities also will result in higher adoption of ultra-short baseline positioning systems by ship and vessel owners for the optimal safety of customers. This factor is anticipated to encourage developments and technological advancements in the ultra-short baseline positioning system market in the upcoming years.
FMI on the basis of in-depth regional analysis projects the U.S. to dominate the ultra-short base line positioning system market. The U.S. is forecast to account for 60% of sales in North America. Rapid expansion of various end-use industries such as oil & gas and tourism are anticipated to bode well for the market.
“Increasing investments in maritime and marine science are paving way for product developments in the global ultra-short base line positioning system market. Besides this, introduction of sales through online channels by OEMs will further augment market growth,” says the FMI analyst.
Key Takeaways From the Ultra Short Base Line Positioning System Market Study:
- In terms of nominal range, deep (upto 10,000 m) ultra-short base line positioning system will lead the segment, holding 57% of the total market share.
- 200-degree antenna aperture will account for 45% of the total ultra-short base line positioning system market share.
- ROV, AUV vessels positioning will dominate the end-user segment, accounting for 25% of the total market share.
- Holding 60% of the North American ultra-short base line positioning system market, the U.S. will continue witnessing high growth through 2031.
- Growing investments in machine science and expansions in the oil & gas industry in China will place it as a lucrative market, expanding at a 5.1% CAGR through 2031.
- Sales outlook of ultra-short base line positioning systems in Italy is projected to be positive, holding 20% of the European market.
Prominent Drivers:
- Technological advancements in ultra-short base line positioning system market such as IoT (Internet of Things) and artificial intelligence (AI) will push sales through 2031.
- Growing interest in tourist activities such as deep-sea diving and underwater photography will propel sales of ultra-short base line positioning systems.
Key Restraints:
- High costs associated with the installation of ultra-short base line positioning system may hamper the market growth.
Competitive Landscape
Key players operating in the ultra-short base line positioning system market are leveraging strategic collaborations, partnerships, and acquisitions to strengthen their position in the market. Product portfolio expansions and customized products to meet end-users demand will remain lucrative growth strategies during the assessment period. For instance:
- In July 2021, Norwegian company Konsberg Maritime launched two new water jet control systems known as JCS Compact and JCS Extended. These new control systems use standard components for reducing costs and streamlining simple operations.
- In September 2020, EdgeTech, a global leader in high-resolution sonar imaging systems and underwater technology, introduced a new sonar frequency combination suitable for shallow water unmanned surface vehicles (USV) and unmanned underwater vehicles (UUV). The new technology effectively connects small vehicles operating in shallow waters or close to the seafloor.
Leading players operating in Ultra Short Base Line Positioning System Market profiled by FMI include:
- Kongsberg Maritime AS
- Teledyne Marine
- iXblue
- ROV-Support A/S
- EvoLogics GmbH
- Sonardyne Holdings Limited
- AAE Technologies Ltd.
- Tritech International Limited
- Imenco AS
- Deep Trekker Inc.
- VideoRay LLC
- Link Quest Inc.
- Blueprint Design Engineering Ltd.
- Beringia Enterprises LLC (DiveNET)
- EdgeTech
Unlock Exclusive Market Segments Insights: Buy Now to Discover Vital Trends, Drivers, and Challenges in this Industry
https://www.futuremarketinsights.com/checkout/13495
Ultra Short Base Line Positioning System Market by Category
By Operating Frequency Range:
- 14-18 kHz
- 20-30 kHz
By Nominal Range:
- Shallow (up to 150 m)
- Medium (upto 1,000 m)
- Deep (up to 10,000 m)
By Antenna Aperture:
- 70 Degree
- 100 Degree
- 200 Degree
By End User:
- Offshore Equipment Positioning
- ROV, AUV vessel positioning
- Cartography
- Diver Tracking
- Naval SAR vessels
- Underwater Photography/Cinematography
- Tourism & Leisure
- Marine Sciences
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
