The global ultra-short baseline positioning system market is anticipated at USD 135.3 million in 2022. Demand is likely to remain high for bridge expansion joints during the assessment period.
This is due to the increased demand for offshore equipment garnering USD256.8 billion in 2033, recording a CAGR of 6.0% from 2023 to 2033. The market is likely to secure USD 143.4 million in 2023.
| Data Points | Key Statistics |
|---|---|
| Ultra Short Base Line Positioning Systems Market Size Value in 2023 | USD 143. 4 million |
| Ultra Short Base Line Positioning Systems Market Forecast Value in 2033 | USD 256.8 million |
| Global Growth Rate | 6.0% |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Ultra Short Base Line Positioning Systems Industry:
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| Attributes | Details |
|---|---|
| Historical CAGR (2018 to 2022) | 4.7% |
| Forecasted CAGR (2023 to 2033) | 6.0% |
Demand for ROV, AUV vessel positioning segment increased at 4.7% CAGR between 2023 and 2023, enabling the combined ultra-short baseline positioning system markets a year-over-year growth of 4.2% in 2021, according to the Future Market Insights report.
High requirements from the offshore vessel positioning in oil and gas exploration, and cargo ships, will drive the ultra-short baseline positioning system market to rise at 6.0% CAGR between 2023 and 2033 in comparison to the 4.7% CAGR registered during 2018 to 2022.
In recent years, growth has been largely sluggish. Nevertheless, it can be attributed to cheaper acoustics and reliable technology. Deep sea diving in many countries like United Arab Emirates, Singapore, Thailand, and more has become a tourist attraction owing to these systems being installed on newer boats and yachts to meet requisite safety standards.
The use of Ultra Short Base Line Positioning Systems in maritime and marine applications is gaining ground. An increasing number of ship owners, onboard engineers, and fleet managers have been using these systems to identify any potential obstacles in marine paths.
Key players in the market are involved in offering customized products which are further integrated with IoT and artificial intelligence to improve efficiency and precision. Manufacturers are designing and providing systems that not only provide real-time data but also provide predictions about the service life of the product to save costs on potential failures.
Increased Application in End-Use Industries to Drive the Market Growth
Key end users of ultra-short baseline systems include researchers, surveyors, Navy, and recreation activity businesses for applications such as underwater photography, marine research, and more.
To meet this demand, manufacturers introduced wireless data transmission facilities in these systems. This has reduced overall costs. If a failure occurs onboard or during an expedition the operator has to cease his/her work and return to the docks, which causes loss of time as well as money.
In countries such as Indonesia, Singapore, UAE, and Thailand Ultra Short Base Line Positioning Systems have been used for precautions and safety in recreational activities. For years the option of inverting an Ultra Short Base Line Positioning System was seen as having an operational advantage over conventional ultra-short baselines for deep tow fish tracking.
Notable improvements to the signal-to-noise ratio (SNR) at an inverted ultra-short baseline transceiver on a quiet tow-fish vessel would allow for repeatable and longer acoustic tracking ranges, thereby paving the way for Ultra Short Base Line Positioning System sales.
The Rapid Growth In Oil & Gas Industry In The Region Drive the Market Growth
The United States is projected to continue as one of the most attractive markets during the forecast period according to Future Market Insights. According to the study, the United States is estimated to account for over 60.5% of the North American market through 2033.
Numerous medium to large enterprises in the country manufacture Ultra Short Base Line Positioning Systems which are used in myriad applications. Secondly, substantial investments in offshore oil and gas exploration activities also fuel the growth. The prevalence of water sports and recreational activities in the country generates high demand from the tourism and leisure sector.
Rapid Investment in Marine Sciences Propels the Market Growth
Demand in the China market is expected to rise at 5.8% CAGR over the forecast period. The Ultra Short Base Line Positioning System market is driven by a developed oil and gas industrial landscape as well as the tourism industry which is backed by the government.
Substantial development in the oil and gas industry coupled with rapid growth in investments for marine sciences and underwater photography are likely to propel the growth in demand over the forecast period. Manufacturers from China are focusing on the development of low-cost and high-efficiency Ultra Short Base Line Positioning Systems. This, in turn, is creating key opportunities for market growth.
Increased Investment in Water Sports Activity to Boost the Market Sale
Italy is anticipated to be one of the prominent markets for the Ultra Short Base Line Positioning System market. According to the research, it is estimated to account for 20.4% of the total market share in Europe.
It is also anticipated to expand with a significant growth rate over the forecast period. This is owing to the prevalence of major tourist trade coupled with substantial government and private investments in the development of water sports and recreational activities in the country.
Increased Spending On Naval Defences Drives the Market Growth in GCC Countries
GCC countries are expected to be an attractive marketplace throughout the forecast period according to Future Market Insights. According to the research, GCC countries are expected to account for over 24.6% of the Middle East and Africa market through 2033.
It is estimated to witness prominent growth during the forecast period. The growth is attributable to the remarkable growth in the tourism and water sports sector in the UAE coupled with increasing defense spending in the GCC countries for strengthening naval defenses.
Deep (Up to 10,000m) Segment Accounts For the Highest Market Share
Based on the nominal range, deep the (up to 10,000 m) range is expected to have a higher market share in the market of nearly 57.5% in 2023. It has also become a mainstay in various applications such as ocean sciences, oil and gas exploration, salvage operations, marine archaeology, and more.
200 Degree Segment Generates Highest Revenue
Ultra Short Base Line Positioning Systems with 200 degrees are expected to hold a market share of more than 45.5%. 200-degree aperture Ultra Short Base Line Positioning Systems have applications in offshore industries for operations such as exploration, hydrographic surveys, drilling, construction surveys, dynamic positioning, production, and decommissioning.
Rising investments in marine sciences are bolstering the demand for a 200-degree aperture Ultra Short Base Line Positioning System.
AUV Vessel Segment Remains Prominent Throughout the Forecast Period.
The market for ROV, AUV vessel positioning end-use segment is expected to account for nearly 25.6% of the Ultra Short Base Line Positioning System market. The rising prominence of ROV, and AUV for offshore exploration, mining activities, oceanography surveys, and cartography is expected to augment demand over the forecast period.
Offshore vessel positioning is also estimated to account for nearly 22% of the total market share. The increasing prominence of watersports and recreational activities and underwater photography activities are also expected to witness a significant growth rate.
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Companies operating in the ultra-short baseline positioning system market are establishing strategic partnerships with other market participants to expand their product portfolios to address the demand of an expanding pool of consumers. They are further producing equipment that can be integrated with equipment from other OEMs.
Some of the leading players operating in the ultra-soft baseline positioning system market are
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 6.0% from 2023 to2033 |
| Market Value in 2023 | USD 143.4 billion |
| Market Value in 2033 | USD 256.8 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technique, Operation, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled |
United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled |
Kongsberg Maritime AS; Teledyne Marine; iXblue; ROV-Support A/S; EvoLogics GmbH; Sonardyne Holdings Limited; AAE Technologies Ltd.; Tritech International Limited; Imenco AS; Deep Trekker Inc.; VideoRay LLC; Link Quest Inc.; Blueprint Design Engineering Ltd.; Beringia Enterprises LLC (DiveNET); EdgeTech |
The market is estimated at USD 143.4 million in 2023.
Leading players include Kongsberg Maritime AS, Teledyne Marine, and iXblue.
200 Degree segment generates the highest revenue share in the ultra-short baseline positioning system market.
Increased application in oil & gas and marine industries drives the market.
China is set to experience substantial growth due to investments in marine sciences and underwater photography.
| Market Size Value in 2023 | USD 675 million |
|---|---|
| Market Forecast Value in 2033 | USD 1018.5 million |
| CAGR (2023 to 2033) | 4.2% |
| Market Size (2023) | USD 2.58 billion |
|---|---|
| Market Size (2033) | USD 4.76 billion |
| Market CAGR (2023 to 2033) | 6.3% |
| Expected Market Value (2022) | USD 8.2 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 10.3 Billion |
| Projected CAGR (2022 to 2032) | 11.6% |
| Expected Market Value (2022) | USD 7 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 24 Billion |
| Projected CAGR (2022 to 2032) | 27% |
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Ultra Short Base Line Positioning System Market
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