The global Subsea Navigation And Tracking Market size is projected to be worth USD 2,058.5 million in 2023. The market is likely to surpass USD 5,184.4 million by 2033. Over the forecast period from 2023 to 2033, global subsea navigation and tracking system sales are likely to soar at 9.7% CAGR.
Demand remains particularly high for acoustic systems due to their ability to effectively transmit signals through water. As per Future Market Insights (FMI), the target segment is set to reach a valuation of around USD 5,071.4 million by 2033.
Subsea navigation and tracking have become essential components of underwater operations and exploration. They involve the use of advanced technologies to determine orientation, position, and movement of underwater vehicles, assets, & equipment.
Mostly two types of subsea navigation and tracking systems are being used globally. These include acoustic systems and inertial navigation systems.
In recent years, there has been tremendous development in the subsea navigation and tracking market. Manufacturers tend to incorporate technologically advanced control systems and precise calibrations to their products.
In addition to this, the maintenance and aftersales service is key to successfully retaining customers for repeating orders. In view of this, suppliers make sure to have sales and support offices in key market regions to provide quick service to their customers
Due to the limitations of underwater radio waves and the reliance on satellite communication for subsea navigation, there is an increasing need for precise underwater navigation, including better systems and navigational equipment.
The demand for remotely operated vehicles (ROVs), which need precise navigation for safe and effective exploration and inspection of underwater structures and habitats, is further exacerbating this.
Further, in the complex field of underwater robotics and particularly in offshore oil and natural gas exploration, better underwater communication systems are essential for effective communication between the vehicle and surface operator. This is putting subsea navigation and tracking systems into limelight.
Growing usage of autonomous underwater vehicles (AUVs) for underwater archaeological surveys and other applications is expected to boost the global subsea navigation and tracking industry.
Rise in underwater and oceanic research which employs AUVs, Towfish, and SONAR is likely to create growth prospects within the target market through 2033.
As the need for petroleum products continues to rise, more nations are looking underwater for possible mineral oil and gas sources. Remotely operated underwater vehicles (ROVs), which require accurate subsea navigation, are crucial to this procedure.
The market will probably have more prospects as a result of the rising number of offshore oil & gas explorations. The rise of the offshore oil and gas industry, which in turn is fueling the demand for ROVs and underwater navigation technology, is being driven by the rising global demand for petroleum products.
The need for precision subsea navigation technology is anticipated to rise as more nations explore underwater regions in search of prospective oil and gas riches.
Key Trends in the Market for Subsea Navigation and Tracking include :
| Attributes | Key Insights |
|---|---|
| Estimated Subsea Navigation and Tracking Market Value (2023) | USD 2,085.5 million |
| Projected Market Size (2033) | USD 5,184.4 million |
| Value CAGR (2023 to 2033) | 9.7% |
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As per Future Market Insights (FMI), historically from 2018 to 2022, global subsea navigation and tracking sales revenue increased at a CAGR of 5.9%. Total market size reached around USD 1,887.8 million in 2022.
From 2018 to 2022, the global subsea navigation and tracking industry witnessed steady growth due to the increasing demand for remotely operated vehicles. The target market is also being driven by rising need for improved underwater communication systems.
Due to the complexity of underwater robotics, there is a great need for efficient communication between underwater vehicles and surface operators.
This increasing demand for advanced communication systems will continue to create growth prospects for the subsea navigation and tracking industry.
Future Forecast for Subsea Navigation and Tracking Industry :
Looking ahead, the global subsea navigation and tracking industry is expected to rise at a CAGR of 9.7% during the assessment period. The worldwide subsea navigation and tracking market is anticipated to witness robust growth through 2033 due to several factors.
Firstly, the rising demand for more accurate navigation systems is boosting the target market. The radio waves cannot function properly underwater which makes satellite communication and navigation impossible to use for subsea navigation. As a result, there is a definite demand for more accurate underwater navigation.
Similarly, rising investments in oil & gas exploration and increasing usage of autonomous underwater vehicles are expected to create a high demand for subsea navigation and tracking systems.
Opportunities in the Subsea Navigation and Tracking Industry :
The highly severe operating environment for the subsea navigation and tracking systems makes it challenging for the technology to perform as intended. High pressure, corrosive saltwater, poor sight, and severe temperatures are features of the undersea environment that can harm equipment.
As a result, the businesses that produce these systems must create and keep up machinery that is specially made to endure these difficult circumstances.
Due to issues like signal attenuation, multipath interference, and restricted satellite vision, attaining exact positioning and tracking in underwater conditions can be difficult. As a result, businesses must create solid, dependable systems that deliver accurate data in real time.
Due to the limited range and bandwidth of signals in water, underwater communication is challenging. Manufacturers must therefore create reliable and efficient communication systems to ensure continuous data transmission between subsea equipment and surface operators.
Rising Oil & Gas Exploration Activities Fueling Subsea Navigation and Tracking Demand
| Country | United States |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 1,560.4 million |
| CAGR from 2023 to End of Forecast (2033) | 9.9% |
As per Future Market Insights (FMI), the United States subsea navigation and tracking market value is expected to reach USD 1,560.4 million by 2033. Overall sales of subsea navigation and tracking systems in the United States are likely to rise at 9.9% CAGR.
The subsea navigation and tracking industry in the United States is expected to witness rapid growth due to various factors. This includes increasing oil & gas exploration activities, rising military activities, and high investments in ocean sciences and surveys.
Exploration and production of offshore energy resources are becoming more popular due to the significant offshore oil and gas deposits in the United States.
As a result, there has been a rise in the construction of offshore infrastructure, including pipelines, platforms, and undersea storage facilities that need navigation and tracking systems.
Growing Interest in Offshore Wind Farm Development Boosting China Subsea Navigation & Tracking Sales
| Country | China |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 993.3 million |
| CAGR from 2023 to End of Forecast (2033) | 10.7% |
The subsea navigation and tracking industry in China is expected to reach a valuation of USD 993.3 million by 2033. Over the projection period from 2023 to 2033, demand for subsea navigation in China is likely to rise at a CAGR of 10.7%.
Rising investments in renewable energy resources such as solar and wind is emerging as a key factor boosting China market.
China is becoming more and more interested in the construction of offshore wind farms, which call for navigation and tracking systems to find and maintain offshore wind turbines. This is creating a plethora of opportunities for the target.
Promising Demand from Several Sectors to Fuel Subsea Navigation and Tracking Sales in the United Kingdom
| Country | United Kingdom |
|---|---|
| Market Size (USD million) by End of Forecast Period (2033) | USD 166.5 million |
| CAGR from 2023 to End of Forecast (2033) | 8.2% |
The United Kingdom subsea navigation and tracking industry is anticipated to reach a valuation of USD 166.5 million by 2033, exhibiting a CAGR of 8.2% during the forecast period.
As offshore infrastructure reaches the end of its useful life, there is a growing need for decommissioning activities. Navigation and tracking systems are critical for planning and executing these activities safely and efficiently
Acoustic Systems to Generate Lucrative Revenues in the Target Market
Based on system type, the global subsea navigation and tracking industry is segmented into acoustic systems and inertial navigation systems. Among these, demand is expected to remain high for acoustic systems, making it the top revenue-generation segment.
According to Future Market Insights (FMI), demand for acoustic systems is projected to rise at a robust CAGR of 9.7% during the assessment period. It is likely to reach a valuation of 5,071.4 million by 2033.
The system which uses sound waves to determine the distance and size of the object is called an acoustic system. This particular type of underwater navigation generally functions on the phenomenon of echo and uses it to predict the distance of the object.
Acoustic subsea navigation and tracking systems provide direct estimate of the position between points. These systems are being increasingly used for tracking and navigation of underwater vehicles and drivers.
Acoustic systems are mostly used due to their ability to transmit signals through water. They enable real-time data transfer, remote control, and coordination between multiple underwater systems.
Growing need for reliable underwater positioning in applications such as marine survey (hydrography), salvage operations, photogrammetry, oil & gas exploration, and others is expected to uplift acoustic system demand through 2033.
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The subsea navigation and tracking industry is highly competitive, with several key players looking to fortify their market positions. In such a scenario, key players must adopt effective strategies to stay ahead of the competition.
Key Strategies Adopted by the Players
Technological Innovation:
Companies invest a lot of money in the research and development of cutting-edge navigation and tracking technology to assist their operations. To improve the effectiveness and accuracy of subsea navigation, they concentrate on developing cutting-edge technologies including acoustic location, inertial navigation systems, and underwater imaging techniques.
Partnerships and Collaborations:
Leading subsea navigation and tracking system companies frequently collaborate and develop strategic relationships with other businesses, research institutes, or colleges to benefit from one another's knowledge and resources. Collaborations can aid in the creation of new technologies, knowledge sharing, and market expansion.
Expansion of Product Portfolio:
Businesses seek to provide comprehensive solutions by diversifying their product line. Along with navigation and tracking devices, this also refers to ancillary equipment and services including sonar systems, remotely operated vehicles (ROVs), and autonomous underwater vehicles (AUVs). Integrating solutions enable businesses to meet a larger range of client needs.
After-Sales Support and Services:
In the market for subsea navigation and tracking systems, offering top-notch after-sales assistance and services is essential. To guarantee that their goods operate at their best, key companies provide training, technical support, maintenance, and system upgrades. This improves customer satisfaction and fosters long-term connections with customers.
In 2022, Teledyne Marine acquired Chart World, which provides digital marine navigation hardware and software provided through a software-as-a-service subscription-based model.
In May 2019, Sonardyne International Ltd. acquired maritime software and equipment specialist EIVA A/S.
In 2019, Kongsberg acquired the Commercial Marine business from Rolls-Royce plc. This was Kongsberg Gruppen’s largest acquisition to date.
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 2,085.5 million |
| Projected Market Value (2033) | USD 5,184.4 million |
| Anticipated Growth Rate (2023 to 2033) | 9.7% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | System Type, Application, and Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; and The Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Companies Profiled | Kongsberg; Sonardyne International Ltd; Teledyne Marine; EVO Logics; iXBlue; Advanced Navigation |
The market is expected to reach USD 2,085.5 million by 2023.
Kongsberg, Sonardyne International Ltd., and Teledyne Marine are the key market players.
The market is set to surge at a CAGR of 9.7% through 2033.
The acoustic systems segment is estimated to remain preferred in the market until 2033.
Autonomous underwater vehicles are driving innovation and growth in the Industry.
| Estimated Market Size (2024) | USD 342.85 million |
|---|---|
| Forecasted Market Size (2034) | USD 625.68 million |
| Projected Value CAGR (2024 to 2034) | 5.50% |
| Market Value (2023) | USD 29.12 billion |
|---|---|
| Market Projected Value (2033) | USD 55.69 billion |
| Market CAGR (2023 to 2033) | 6.7% |
| Market Size (2022E) | USD 1,418.6 Million |
|---|---|
| Market Size (2032F) | USD 2,516.7 Million |
| Value CAGR (2022 to 2032) | 5.9% |
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Subsea Navigation And Tracking Market
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