Demand In The China Ultra Short Base Line Positioning System Market Is Expected To Rise At 5.1% CAGR Over The Forecast Period By 2031 End

According to a recent market analysis conducted by ESOMAR-certified consulting firm Future Market Insights (FMI), the global ultra-short base line positioning system market is expected to reach US$ 127.7 Mn in 2021.

Sales of ultra-short base line positioning systems are being driven by the expansion of commercial trade via maritime operations, as well as increased interest in recreational travel. As a result, the market is expected to grow at a 5.8 percent CAGR from 2021 to 2031.

Demand from researchers, surveyors, photographers, and the Navy in various countries will continue to drive sales of ultra-short base line positioning systems.

Growing interest in water sports and recreational tourism activities will also lead to a greater use of ultra-short base line positioning systems by ship and vessel owners for optimal customer safety. This factor is expected to foster development and technological advancements in the ultra-short base.

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.

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"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 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:
• Kongsberg Maritime AS
• Teledyne Marine
• iXblue
• ROV-Support A/S
• EvoLogics GmbH
• Sonardyne Holdings Limited
• AAE Technologies Ltd.
• Tritech International Limited
• Imenco AS
• Deep Trekker Inc.
• VideoRay LLC
• Link Quest Inc.
• Blueprint Design Engineering Ltd.
• Beringia Enterprises LLC (DiveNET)
• EdgeTech

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.