U.S. Is Estimated To Account For Over 60% Of Ultra Short Base Line Positioning System Market Through 2031

High requirements from the offshore vessel positioning in oil and gas exploration, and cargo ships, will drive the ultra-short base line positioning system market to rise at 5.8% CAGR between 2021 and 2031. The U.S. 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 U.S. is estimated to account for over 60% of the North America market through 2031.

Many medium to large businesses in the country produce Ultra Short Base Line Positioning Systems, which are used in a variety of applications. Second, significant investments in offshore oil and gas exploration activities fuel growth. Furthermore, the country’s prevalence of water sports and recreational activities generates high demand from the tourism and leisure sectors.

It is also expected to expand at a rapid pace during the forecast period. This is due to the prevalence of a significant tourist trade, as well as significant government and private investments in the development of water sports and recreational activities in the country.

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Ships and vessel owners will increasingly use ultra-short base line positioning systems to ensure the safety of their passengers as interest in water sports and leisure travel grows. This component is expected to foster growth and technological development in the ultra-short base.

“Increasing investments in maritime and marine science are paving way for product developments in the global ultra-short base line positioning system market. Besides this, introduction of sales through online channels by OEMs will further augment market growth,” says the FMI analyst.

FMI on the basis of in-depth regional analysis projects the U.S. to dominate the ultra-short base line positioning system market. The U.S. is forecast to account for 60% of sales in North America. Rapid expansion of various end-use industries such as oil & gas and tourism are anticipated to bode well for the market.

Key Takeaways:

In terms of nominal range, deep (upto 10,000 m) ultra-short base line positioning system will lead the segment, holding 57% of the total market share.
200-degree antenna aperture will account for 45% of the total ultra-short base line positioning system market share.
ROV, AUV vessels positioning will dominate the end-user segment, accounting for 25% of the total market share.
Holding 60% of the North American ultra-short base line positioning system market, the U.S. will continue witnessing high growth through 2031.
Growing investments in machine science and expansions in the oil & gas industry in China will place it as a lucrative market, expanding at a 5.1% CAGR through 2031.
Sales outlook of ultra-short base line positioning systems in Italy is projected to be positive, holding 20% of the European market.

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Competitive Landscape

Key players operating in the ultra-short base line positioning system market are leveraging strategic collaborations, partnerships, and acquisitions to strengthen their position in the market. Product portfolio expansions and customized products to meet end-users demand will remain lucrative growth strategies during the assessment period. For instance:

In July 2021, Norwegian company Konsberg Maritime launched two new water jet control systems known as JCS Compact and JCS Extended. These new control systems use standard components for reducing costs and streamlining simple operations.
In September 2020, EdgeTech, a global leader in high-resolution sonar imaging systems and underwater technology, introduced a new sonar frequency combination suitable for shallow water unmanned surface vehicles (USV) and unmanned underwater vehicles (UUV). The new technology effectively connects small vehicles operating in shallow waters or close to the seafloor.

Leading players operating in Ultra Short Base Line Positioning System Market profiled by FMI include: