Latin America Underwater Communication System Market Size & Outlook
Latin America underwater communication system market, 2017-2030 (US$M)
Related Markets
Latin America underwater communication system market highlights
- The Latin America underwater communication system market generated a revenue of USD 271.8 million in 2023.
- The market is expected to grow at a CAGR of 8.6% 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 271.8 million |
| Market revenue in 2030 | USD 485.4 million |
| Growth rate | 8.6% (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, Latin America region accounted for 7.5% 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 |
|---|
Latin America 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 51.58% in 2023. Horizon Databook has segmented the Latin America underwater communication system market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
The Latin American The offshore sector demands enhanced accuracy, integrity, range or depth, and data from its navigation and positioning technologies. The demand for underwater communication systems is increasing owing to the rising requirement for secure IoT-enabled underwater communication.
The countries of Latin America are being driven by escalating geopolitical pressure to bolster their land, air, and naval forces. The funding for building a powerful maritime fleet has recently been a significant priority for nations.
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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 Latin America underwater communication system market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America underwater communication system market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America underwater communication system market size, by country, 2017-2030 (US$M)
Latin America Underwater Communication System Market Outlook Share, 2023 & 2030 (US$M)
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