Global Equipment Market Worth $2.9 Billion by 2020
The global hydrographic equipment market is expected to be worth in excess of $2.9bn by 2020, according to an assessment by research analysts MarketsandMarkets (M&M) of Dallas.
In a detailed report covering estimated trends for the period 2014-2020, the US company cites sonars, echosounders, positioning systems, profilers and tide gauges as lead purchase items with charting contributing the largest percentage share followed by offshore oil and gas operations, coastal engineering and port and harbour management. Regionally, Asia-Pacific is assumed to be the market leader followed by Europe and the Americas.
Also defining challenges that exist in markets such as up-to-date information for navigational areas, the report additionally analyses the role and performance of principal equipment manufacturers. Norway’s Kongsberg Maritime is adjudged the current leader with an estimated 13.6% of global market share.
By David Goodfellow
