Underwater Acoustic Device Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Underwater Acoustic Device Market Trends and Forecast

The future of the global underwater acoustic device market looks promising with opportunities in the oil & gas, military & defense, homeland security, scientific research & development, and marine sectors. The global underwater acoustic device market is expected to reach an estimated $3.8 billion by 2028 with a CAGR of 12.5% from 2023 to 2028. The major drivers for this market are increasing underwater exploration activities, growing application of acoustic modems in oil and gas sector, and escalating need for this device among defense and homeland security for secure and dependable underwater communication.

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Underwater Acoustic Device Market by Segment

The study includes trends and forecast for the global underwater acoustic device market by interface platform, communication depth, application, end use industry, and region, as follows.

Underwater Acoustic Device Market by Interface Platform [Value ($B) Shipment Analysis from 2017 to 2028]:

• Sensor Interface
• Acoustic Modem
• Others

Underwater Acoustic Device Market by Communication Depth [Value ($B) Shipment Analysis from 2017 to 2028]:

• Shallow Water
• Medium Water
• Long Water
• Full Ocean

Underwater Acoustic Device Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

• Environmental Monitoring
• Pollution Monitoring
• Climate Monitoring
• Hydrography
• Oceanography
• Others

Underwater Acoustic Device Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

• Oil & Gas
• Military & Defense
• Homeland Security
• Scientific Research & Development
• Marine

Underwater Acoustic Device Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Underwater Acoustic Device Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies underwater acoustic device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.

Some of the underwater acoustic device companies profiled in this report include:

• Teledyne Technologies Incorporated
• KONGSBERG
• Thales
• L3Harris
• Ultra

Underwater Acoustic Device Market Insights

• Lucintel forecasts that acoustic modem is expected to witness a higher growth over the forecast period due to its increasing use in naval defense application for command and control, diver communication, remote underwater surveillance, and submarine communication functions.
• Scientific research & development is expected to remain the largest end use industry segment due to the constant need for research and improvement in underwater acoustic communication technologies to solve underwater communication issues.
• North America will remain the largest region due to the increasing use of this technology in military and defense applications to power autonomous underwater vehicles in the region.

Features of the Underwater Acoustic Device Market

• Market Size Estimates: Underwater acoustic device market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Underwater acoustic device market size by various segments, such as by interface platform, communication depth, application, end use industry, and region
• Regional Analysis: Underwater acoustic device market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different interface platforms, communication depths, applications, end use industries, and regions for the underwater acoustic device market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the underwater acoustic device market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the underwater acoustic device market size?

Answer: The global underwater acoustic device market is expected to reach an estimated $3.8 billion by 2028.

Q2. What is the growth forecast for underwater acoustic device market?

Answer: The global underwater acoustic device market is expected to grow with a CAGR of 12.5% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the underwater acoustic device market?

Answer: The major drivers for this market are increasing underwater exploration activities, growing application of acoustic modems in oil and gas sector, and escalating need for this device among defense and homeland security for secure and dependable underwater communication.

Q4. What are the major segments for underwater acoustic device market?

Answer: The future of the underwater acoustic device market looks promising with opportunities in the oil & gas, military & defense, homeland security, scientific research & development, and marine sectors.

Q5. Who are the key underwater acoustic device companies?

Answer: Some of the key underwater acoustic device companies are as follows.

• Teledyne Technologies Incorporated
• KONGSBERG
• Thales
• L3Harris
• Ultra

Q6. Which underwater acoustic device segment will be the largest in future?

Answer:Lucintel forecasts that acoustic modem is expected to witness higher growth over the forecast period due to its increasing use in naval defense application for command and control, diver communication, remote underwater surveillance, and submarine communication functions.

Q7. In underwater acoustic device market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to the increasing use of this technology in military and defense applications to power autonomous underwater vehicles in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the underwater acoustic device market by interface platform (sensor interface, acoustic modem, and others), communication depth (shallow water, medium water, long water, and full ocean), application (environmental monitoring, pollution monitoring, climate monitoring, hydrography, oceanography, and others), end use industry (oil & gas, military & defense, homeland security, scientific research & development, and marine), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?