Europe Underwater Communication System Market Size & Outlook
Europe underwater communication system market, 2017-2030 (US$M)
Related Markets
Europe underwater communication system market highlights
- The Europe underwater communication system market generated a revenue of USD 975.5 million in 2023.
- The market is expected to grow at a CAGR of 10.6% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 975.5 million |
| Market revenue in 2030 | USD 1,977.4 million |
| Growth rate | 10.6% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Services |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Kongsberg Gruppen ASA, L3Harris Technologies Inc, Thales, Saab AB ADR, Teledyne Technologies Inc |
Other key industry trends
- In terms of revenue, Europe region accounted for 26.9% of the global underwater communication system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,805.8 million by 2030.
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Underwater Communication System Market Scope
Underwater Communication System Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe underwater communication system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to underwater communication system market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 52.43% in 2023. Horizon Databook has segmented the Europe underwater communication system market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
The European underwater communication systems is expanding. The underwater communication system market in the U.K. is anticipated to witness significant growth, registering a CAGR of 11.2% over the forecast period.
In addition to its position as the world's top maritime financial, professional, and business services hub, the U.K. enjoys a strong reputation on the worldwide stage as a center for design, engineering, marine equipment, and research. Moreover, the U.K. has a comparative geographic advantage when it comes to shipping in the Arctic.
The development of remotely operated vessels and the requirement for expanded satellite coverage for isolated regions such as the Arctic are anticipated to increase the demand for underwater communication systems and infrastructure in the U.K. in the coming years.
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Our clientele includes a mix of underwater communication system market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe underwater communication system market , including forecasts for subscribers. This continent databook contains high-level insights into Europe underwater communication system market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe underwater communication system market size, by country, 2017-2030 (US$M)
Europe Underwater Communication System Market Outlook Share, 2023 & 2030 (US$M)
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