North America Hydrographic Equipment Market Worth $452.20 million by 2020

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North America Hydrographic Equipment
Market Expected To Reach $452.20
million by 2020
The Hydrographic Equipment market offers an exclusive range of
opportunities in the years to come. In 2012 the Commercial ship
industry saw the largest shipbuilding change in its history. The
"Major Players
world merchant fleet has more than doubled since 2001 in terms of
in the market
gross tonnage. Developments in the world economy and changes in
are Kongsberg
trade growth and patterns are shaping the demand for enhanced
Maritime AS,
maritime activity which in turn demands for navigational aids such
Fugro,
as nautical charts, vessel traffic management at ports and harbors.
Raytheon,
Thales ,
The growth rate of world seaborne trade is estimated at 3.1 % and
Teledyne Reson
is expected to increase by 44 % by 2020. The provision of
hydrographic services has been a fundamental enabler and an
A/S, Atlas
important boost to many aspects of economic development.
Elektronik
Investment in hydrographic equipment market is certainly going to
Gmbh, Ohmex,
serve as a good opportunity, considering the ever growing need for
Seafloor
charted waters support and maritime commerce.
systems Inc.,
IIC
The North America Hydrographic equipment market is estimated at
Technologies,
$417.21 million in 2014, and it is expected to reach $452.20
and Teledyne
million by 2020. North America is expected to grow in
Odom
Hydrographic equipment market at a CAGR of 1.35%. The major
Hydrographic,
challenge in this industry is that the market has reached a stage of
Inc"
maturity in this region. The driving factor in this market is the
growing international trade on sea routes. The high numbers of
seaports indicate increased vessel traffic which demands for better
information for navigational information.
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Related Reports
Latin American Hydrographic Equipment Market
The Latin American Hydrographic equipment market is estimated at $224.14 million in 2014,
and it is expected to reach $242.94 million by 2020. Latin America is expected to grow in
Hydrographic equipment market at a CAGR of 1.35%. One of the major challenges in this
industry is the government regulation such as heavy customs law. The economic growth in the
Latin American countries has led to the increase in the international trade in this region. Majority
of the international trade is carried out by sea routes. Increase in offshore oil and gas activity for
exploration of new oil reserves will be the major driving factor for this market in the region.
http://www.micromarketmonitor.com/market/south-america-hydrographic-equipment-
3375134111.html
Asia Pacific Hydrographic Equipment Market
The Asia Pacific Hydrographic equipment market is estimated at $1071.64 million in 2014, and
it is expected to reach $1332.12 million by 2019. Asia Pacific is expected to be fastest growing
region in the commercial cabin interior market at a CAGR of 3.69%. The major challenge in this
industry is growth of the market is limited to few economies such as Singapore, Thailand,
Malaysia and China. The driving factors in this market are provision of up to date hydrographic
information for the mariners as the APAC region holds the world's largest merchant fleet.
http://www.micromarketmonitor.com/market/asia-pacific-hydrographic-equipment-
3916870192.html
European Hydrographic Equipment Market
The Europe Hydrographic equipment market is estimated at $493.55 million in 2014, and it is
expected to reach $568.67 million by 2019. Europe is expected to grow in the Hydrographic
equipment market at a CAGR of 2.39%. The major challenge for this region is that shipping
industry is facing a downturn. Increase in the fuel prices, leading to exploration of offshore oil
and gas reserves, and the rising demand for up to date nautical charts by the seafarers worldwide
will drive this market in the future. This region is a major hub for research and development in
ocean; also countries such as Norway, Denmark and France are focusing on exploring their own
oil reserves in ocean rather than depending on OPEC.
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http://www.micromarketmonitor.com/market/europe-hydrographic-equipment-8642078503.html
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