DUBLIN, July 14, 2023 /PRNewswire/ — The “Underwater Acoustic Communication Market Share, Size, Trends, Industry Analysis Report, By Interface Platform , By Application, By Communication Depth, By End User, By Region, Segment Forecast, 2023 – 2032” report has been added to ResearchAndMarkets.com’s offering.
The global underwater acoustic communication market size is expected to reach USD 5.64 billion by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Countries are increasing Naval defense budget spending owing to the global border disputes and security. Developing countries are increasing their Naval defense spending. The Indian budget for defense research and development (R&D) is up 17.6 percent from 2021-2022 levels.
A quarter of the R&D budget is allocated to business, startups, and academic institutions. This funding, which is intended to support innovation and localization, is also a positive development. This will fuel the demand for underwater acoustic communication products for security reasons.
The most efficient work of maritime technology is underwater acoustic communication, which also plays a crucial supporting role in military operations and underwater observation missions. The most common and oldest underwater wireless communication method is underwater acoustic technology. The complexity of underwater acoustic channels, the underwater environment, and other issues combined with the rising demand for development severely limit the underwater acoustic communication’s ability to communicate at speeds, distances, and with stability.
As the need for ocean development increases, research into underwater acoustic communication (UAC) networks is growing tremendously. Communication Underwater Using 5G Network, increasing demand for environmental monitoring and mapping of the seafloor are key driving factors for the growth of the market in upcoming years.
Underwater acoustic communications are a fast-expanding area of engineering and research due to the expansion of applications that call for underwater data transmission without wired connections. Increasing adoption of underwater acoustic communication by various end-users for exploration, security, and surveillance is one of the factors projected to propel market expansion over the course of the forecast period.
Autonomous underwater vehicles have also been used to detect aircraft that have crashed as well as execute crash investigation. The discovery of the Titanic’s debris and of hydrothermal vents in the deep ocean was made possible by the advancement of communication technologies. These methods are used to find underwater objects that help with mapping and discovery. They are also incredibly trustworthy for rescue operations.
Companies Mentioned
- Teledyne Technologies Incorporated
- KONGSBERG
- Thales
- L3Harris
- Ultra
- Sonardyne International
- EvoLogics GmbH
- Moog
- Nortek
Underwater Acoustic Communication Market Report Highlights
- The acoustic modem segment is expected to have a significant growth owing to increasing demand in the naval defense to support communication systems
- Environmental monitoring segment is anticipated to witness higher growth due to rising concerns for the protection of environment
- Medium water segment is projected to experience higher growth rate owing to efficient monitoring and secure process control systems
- Scientific research and development segment is likely to witness higher growth rate owing to higher competition among the market players to innovate new products
- North America projected to experience larger market growth due to increase in the demand for unmanned underwater vehicles in the US
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Underwater Acoustic Communication Market Insights
4.1. Underwater Acoustic Communication – Industry Snapshot
4.2. Underwater Acoustic Communication Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Growing importance Scientific exploration and data collection
4.2.1.2. Technological advancement
4.2.2. Restraints and Challenges
4.2.2.1. Limited speed of data transmission
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. Underwater Acoustic Communication Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Underwater Acoustic Communication Market, by Interface Platform
6. Global Underwater Acoustic Communication Market, by Application
7. Global Underwater Acoustic Communication Market, by End-User
8. Global Underwater Acoustic Communication Market, by Communication Depth
9. Global Underwater Acoustic Communication Market, by Geography
10. Competitive Landscape
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/le91oz
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