Underwater Acoustic Communication Market | Industry Analysis and Market Size Forecast to 2023

The global underwater acoustic communication market is estimated to be valued at USD 1.31 billion in 2017 and reach USD 2.86 billion, at a CAGR of 13.8% between 2017 and 2023.

By application, the underwater acoustic communication market for environmental monitoring is expected to hold the largest market share during the forecast period

Based on application, environmental monitoring is estimated to hold the largest share of 28.2% of the underwater acoustic communication market in 2017. Environmental monitoring is used to monitor potential effects on the terrestrial and nearshore environment associated with onshore construction activities. The pollution monitoring application is estimated to hold the second-largest share of 14.1% of the underwater acoustic communication market in 2017.

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By end user, the underwater acoustic communication market for scientific research and development is estimated to hold the largest market size during the forecast period

On the basis of end user, scientific research and development is estimated to hold the largest share of 30.9% of the underwater acoustic market in 2017. Leading oil companies are expected to increase their exploration capital expenditure and resume drilling in deep-water in a bid to build hydrocarbon-based assets.

North America to account for the largest market size during the forecast period.

North America is estimated to hold the largest share of the underwater acoustic communication market during the forecast period. The US and Canada are using unmanned underwater vehicles (UUVs) for various defense operations such as anti-submarine warfare, security, and surveillance, due to the growing security concerns in these countries. Thus, the increasing applicability of UUVs in defense and commercial sectors is anticipated to drive the growth of the market in North America.

This report provides valuable insights into the ecosystem of underwater acoustic communication. Teledyne Technologies (US), Kongsberg Gruppen (Norway), Thales Group (France), Ultra Electronics (UK), Sonardyne International (UK), Evologics (Germany), DSPComm (Australia), Mistral (US), Nortek (Norway), Aquatec Group (UK), Baltrobotics (Poland), Tritech International (UK), Gavial Holdings (US), Hydroacoustic (US), LinkQuest (US), AquaSent (US), Proserv (UK), Subnero (Singapore), RTSys (Caudan), G5 Scientific (US), JPAnalytics (US), Seagnal (France) are the major players in the underwater acoustic communication market.

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