The global underwater modems market was valued at US$ 2.09 Bn in 2021 growing at a CAGR of 14.3% over the forecast period (2022 – 2030). In the past few years, the use of underwater modems has become a priority in terms of research and technological development along with the exploration of the oceans in areas such as pharmaceutical, minerals, oil, environmental and biodiversity. This has boosted need for high data rate as well as near-real-time communications, fuelling growth of the global underwater modems market. Further, the global underwater modems market players are introducing innovative solutions to enhance underwater modem capabilities, creating lucrative growth opportunities for the market. For instance, in April 2022, Bionet Sonar, U.S.-based company has conducted testing of HydroNet, the new open, programmable, and modular underwater modems.
By offering, the services segment of the global underwater modems market is expected to witness highest growth rate during the forecast period. The rising need for services related to the underwater modems such as the implementation, training and support, consulting and advisory, and others is pushing the segment growth. Emergence of new underwater modems systems is expected to create demand for the aforementioned services, fuelling growth of the market. For instance, in January 2021, Teledyne Marine, a group of leading-edge subsea companies launched a new Ultra Compact Modem (UCM).
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According to Absolute Markets Insights report, hydrography/navigation followed by energy and utilities segment in the global underwater modems market under the end-user category also accounted for a considerable share in 2021. Ongoing increase in oil exploration activities has driven demand for underwater modems. In addition, the market players are developing miniature underwater modems that are ideal for offshore oil exploration. For instance, in September 2020, EPFL spin-off Hydromea, the provider of ultrafast underwater communications developed a miniature optical modem that can operate down to about 6,000 meters below the ocean’s surface. However, defence and security segment is anticipated to witness highest growth rate during the forecast period. Significant rise in adoption of underwater communications systems in naval defense is driving growth of this segment. Underwater modem systems are being used in various defence applications ranging from submarine communications to diver communications and remote underwater monitoring, control, and command.
By sales channel, direct sales channel accounted for the largest market share in underwater modems market in 2021. This is mainly attributed to the rising number of direct sales contracts of marine equipment in defense sector. For instance, in July 2019, ERAPSCO, a joint venture between a subsidiary of British firm Ultra Electronics and Sparton Corp. was awarded a U.S. defense contract worth $1.041 billion to produce sonobuoys used in anti-submarine warfare.
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Asia-Pacific underwater modems market is expected to witness highest growth rate during the forecast period. Growth of this market in this region is mainly driven by growing energy demands in emerging economies such as India and China, rising military spending, and increasing adoption of unmanned underwater vehicles for various application areas. In past few years, this region has witnessed huge demand for autonomous underwater vehicles (AUVs) for mine exploration and oceanographic studies, creating lucrative growth opportunities for the market.
The key companies profiled in the global underwater modems market are mentioned below:
- Aquatec Group Ltd.
- Beringia Enterprises LLC
- Blue Robotics Inc
- CSignum Ltd
- EvoLogics GmbH
- LinkQuest, Inc.
- Nortek AS
- Subnero Pte. Ltd.
- Teledyne Marine
- Tritech International Limited
- Underwater Wireless Modem & Communication Devices
- Water Linked AS
- Other Market Participants
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Global Underwater Modems Market:
- Short and Mid-Range
- Implementation Services
- Consulting and Advisory Services
- Training and Support Services
- Civil Engineering
- Defence and Security
- Oil and Gas
- Energy and Utilities
By Sales Channel
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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