Ultra-Short Base Line Positioning System Demand to Grow by 5.8% through 2031, Applications to Concentrate in ROV, AUV Vessel Positioning: Future Market Insights – Digital Journal


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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.
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.
Request a report sample with 250 pages to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-13495
Key Takeaways:
Prominent Drivers:
Key Restraints:
Discover more about Ultra Short Base Line Positioning System Market with figures and data tables, along with the table of contents. For any Queries Linked with the Report, Ask an [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-13495
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:
Leading players operating in Ultra Short Base Line Positioning System Market profiled by FMI include:
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Future Market Insights,
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The post Ultra-Short Base Line Positioning System Demand to Grow by 5.8% through 2031, Applications to Concentrate in ROV, AUV Vessel Positioning: Future Market Insights appeared first on Future Market Insights.

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