Echo Sounders Market Grew At A Value CAGR Worth 2.9% During 2022-2032

The global echo sounders market is expected to accumulate US$ 298 Million in value by 2022-end. During the forecast period ranging from 2022 to 2032, a CAGR worth 3.3% has been projected for the market, with an expected closing value worth US$ 412 Million. During the historical period 2016-2021, the market grew at a value CAGR worth 2.9%.

Flexibility of frequency agility to support existing transducer installations, support for tried and tested thermal record printing and modern PC screen-based interfaces are some of the extensive features offered by the single beam echo sounders. However, with the evolution of multi-beam echo sounders (MBES), systems are now provided with enhanced capabilities with features such as pulse length, number of beams & coverage and operating frequency for their use into new areas of applications.

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Echo sounders are a type of Sound Navigation and Ranging (SONAR) used to determine depth of the water along with sound speed through recording time interval between emission and pulse return. After the disaster of Titanic in 1912, Alexander Behm, the German physicist, discovered the technique of echo sounding to detect icebergs and to measure the depth of the sea. Furthermore, dual-beam technique in 1970s, permitting direct fish size in-situ through target strength estimation was invented, followed by development of first portable split-beam hydro acoustic system for better accuracy and less variable estimation. The global echo sounders market is estimated to grow at a significant CAGR during the forecast period owing to low power consumption, inexpensive tools and innovations in the product development.

Echo Sounders Market: Dynamics

Drivers:

Single beam echo sounders provide an inexpensive seabed mapping tool when attached to a recording device and GPS which is expected to enhance the growth of global echo sounders market during the forecast period. Furthermore, technological advancements in multi-beam echo sounders are potentially making them a cost-effective system. Moreover, the requirement for compact systems with low power consumption in autonomous or remotely operated vehicles are expected to augment the echo sounders market over the forecast period.

Restraints:

The speed of sound is directly proportional to density of the water that can be affected by various factors such as turbidity, temperature of water sample, pressure and salinity, and consequently expected to hamper the growth of the global echo sounders market during the forecast period.

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Trends:

With the development of the multi-beam echo sounders systems for offering narrow bandwidths, there is further demand for complementary increase in the number of beams provided to retain full ensonification of the seabed. Furthermore, to provide better control over the application and distribution of soundings, progress in the provision of greater number of soundings has been allied for advancement in beam-forming technology.

Echo Sounders Market: Region-wise Outlook

North America is expected to dominate the global echo sounders market during the forecast period owing to stringent marine regulations and awareness among consumers for better operations. Furthermore, Europe is estimated to witness significant growth rate during the forecast period owing to growing military & defense applications in France, the U.K. and other parts, with growing adoption of advance technologies for better and accurate results. Moreover, Asia Pacific is expected to register substantial growth over the forecast period majorly due to countries such as China, India and ASEAN, which deals with import and export through shipments as their way of business. The Latin America and Middle East & Africa markets are estimated to enhance the growth of the global echo sounders market due to adoption of single as well as multi-beam echo sounders for better safety and results.

Echo Sounders Market: Participants

Examples of some of the market participants in the global echo sounders market are:

Kongsberg Maritime AS
Navico
Knudsen Engineering Ltd.
Teledyne Odom Hydrographic, Inc.
CEE HydroSystems
FURUNO ELECTRIC CO., LTD.
KAIZEN IMPERIAL
Fugro
Sonar Products Limited
Neptune Sonar Ltd

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Echo Sounders Market: Segmentation

The global echo sounders market can be segmented based on product type, application, usage and frequency range.

By Product Type, the global echo sounders market is segmented into: