Middle East & Africa Underwater Communication System Market Size & Outlook
Middle East & Africa underwater communication system market, 2017-2030 (US$M)
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MEA underwater communication system market highlights
- The MEA underwater communication system market generated a revenue of USD 359.6 million in 2023.
- The market is expected to grow at a CAGR of 9.3% 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.
MEA data book summary
| Market revenue in 2023 | USD 359.6 million |
| Market revenue in 2030 | USD 669.2 million |
| Growth rate | 9.3% (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, MEA region accounted for 9.9% 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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Middle East & Africa 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 51.11% in 2023. Horizon Databook has segmented the Middle East & Africa underwater communication system market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
The Middle East & African underwater communication system market demand for underwater communication systems for offshore oil & gas activities in the region has increased as offshore operators have realized that a failure in communication could result in expensive maintenance, delays, production interruptions, or environmental calamities.
Moreover, the demand for underwater wireless communication systems has increased owing to the rising undersea exploitation. Using radiofrequency, optical, and acoustic communications and underwater wireless communication technologies is crucial for oil & gas exploration efforts.
Offshore oil & gas exploration activities demand effective remote control and data recovery to handle numerous communication requirements by tightly integrating the communication systems with other instrumentation.
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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 Middle East & Africa underwater communication system market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa underwater communication system market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa underwater communication system market
Middle East & Africa Underwater Communication System Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa underwater communication system market
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