Underwater Acoustic Communication Market

Partnerships, Contracts, Agreements, and Collaborations were the Major Strategies Adopted by the Key Players in the Underwater Acoustic Communication Market

The underwater acoustic communication market is expected to grow from USD 1.31 Billion in 2017 to USD 2.86 Billion by 2023, at a CAGR of 13.8% between 2017 and 2023. The increase in the adoption of underwater acoustic modems in the oil & gas and naval defense sectors is one of the major driving factors for the growth of the underwater acoustic communication market.

Partnerships, contracts, agreements, and collaborations were the major strategies adopted by the key players in the underwater acoustic communication market. Partnerships, contracts, agreements, and collaborations collectively accounted for a share of 53.84% of the overall growth strategies. Product launches was another key strategy adopted by the players to increase their share in the underwater acoustic communication market in 2016. The strategy of product launches accounted for a share of 30.77% of the overall growth strategies. Both acquisitions and expansions strategies accounted for a share of 7.69%.

Teledyne Technologies provides electronic components, instruments, and communications products. The company provides a broad range of end-to-end undersea interconnect solutions to the offshore oil & gas, naval defense, oceanographic, and telecom sectors. The company offers numerous products for several industries adopting the underwater acoustic communication technology. For instance, in November 2017, the company introduced a new Lidar sensor, which can be used in ports and harbors, environmentally sensitive areas, construction and inspection zones, dams and reservoirs, harbors, and rivers, etc. The company focuses on product developments as one of its major growth strategies to strengthen its position in the underwater acoustic communication market. Moreover, the company strives to provide one-stop purchasing capability, worldwide customer support, and technical expertise to its customers all over the world. In November 2017, Teledyne introduced the new LiDAR sensor for their Z-Boat 1800RP unmanned surface vehicle (USV) product line. Also, in August 2015, Teledyne Marine entered into an agreement with Subsea Tech. According to this agreement, Teledyne appointed Subsea Tech as the official distributor for the Teledyne Impulse connectors in France for the defense, commercial, oil & gas, and Remotely Operated Vehicles (ROV) and Autonomous Underwater Vehicles (AUV)/AUV industries.

Kongsberg Maritime AS was founded in 1997 and has its headquarters in Kongsberg, Norway. The company operates as one of the subsidiaries of Kongsberg Gruppen ASA (Norway). Kongsberg Maritime AS is one of the major providers of marine technology-based navigation and automation systems for merchant vessels and the offshore industry. The company provides its products and solutions to different industries such as oil & gas, marine, and aerospace & defense. Under the product category of subsea and marine robotics segment, the company offers AVUs, marine technology handling systems, sonar seabed survey equipment, and underwater acoustic products. The company offers its AUV products and services for various applications such as offshore (oil & gas), environmental monitoring, hydrography, and search and recovery. Being one of the market leaders in providing  subsea systems, Kongsberg Maritime AS has a well-established product portfolio for these acoustic communication systems, including AUVs. The company, along with its subsidiaries, has been successful in fulfilling the needs of its customers in Europe, the Americas, and APAC. In April 2017, the company unveiled the innovative cNODE Micro system, subsea transponders designed to provide accuracy underwater for communication range between 0 cm– 2 cm. This system is ideally suitable for divers and shallow water remotely operated underwater vehicles (ROVs), going or operating down to 600 meters.

Related Reports:

Underwater Acoustic Communication Market by Interface Platform, Communication Range, Application (Environmental Monitoring, Pollution Monitoring, Climate Recording, Hydrography, Oceanography), End User, and Geography - Global Forecast to 2023

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Underwater Acoustic Communication Market Size,  Share & Growth Report
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