In its market study on the ultra-short base line positioning system, Future Market Insights (FMI) presents deep dive into developments across segments in terms of operational frequency range, nominal range, antenna aperture, and end-use in the global ultra-short base line positioning system market. The study also highlights growth strategies adopted by leading players to strengthen sales prospects.
Future Market Insights, Dubai: As per a recent market analysis by ESOMAR-certified consulting firm Future Market Insights (FMI), the global ultra-short base line positioning system market is projected to reach a valuation of US$ 127.7 Mn in 2021.
Expansion of commercial trade via marine operations, coupled with growing interest in recreational travel are key trends bolstering sales of ultra-short base line positioning systems. Driven by this, the market is poised to expand at a steady 5.8% CAGR during the forecast period, from 2021 to 2031.
Increasing demand from researchers, surveyors, photographers, and the Navy in various countries will continue providing tailwinds to ultra-short base line positioning system sales.
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Besides this, efforts to improve underwater communication are encouraging companies to develop wireless data transmission systems. Integration of connective technologies such as Internet of Things (IoT) and artificial intelligence for streamlining marine communication will further boost sales through 2031.
In addition, improvements in sound to noise ratio (SNR) at an inverted ultra-short base line transceiver in smaller vessels are providing longer acoustic tracking ranges. These improvements are facilitating growth in marine operations, leading to lucrative sales prospects in the market.
Growing interest in water sports and recreational tourism activities also will result in higher adoption of ultra-short base line positioning system by ship and vessel owners for optimal safety of customers. This factor is anticipated to encourage developments and technological advancements in the ultra-short base line positioning system market in the upcoming years.
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.
“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.
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:
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Leading players operating in Ultra Short Base Line Positioning System Market profiled by FMI include:
More Insights on FMI’s Ultra Short Base Line Positioning System Market
The latest market study on the ultra-short base line positioning system market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global ultra-short base line positioning system market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Operating Frequency Range:
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Key Questions Covered in Ultra Short Base Line Positioning System Market Report
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