Press release
What's Driving the Underwater Connectors Market Growth? Amphenol Corporation, Baker Hughes (GE Company LLC.), Birns Aquamate LLC, BIRNS, Inc., C.R. Encapsulation Limited, DWTEK CO. Ltd., Eaton Corporation, Fischer Connectors SA, Gisma Steckverbinder GMBH,
The significance of the application segment as a vital growth avenue for underwater connectors market is also evident from prominent efforts by industry majors. Recently for example, Norwegian firm uSEA revealed to be working on a hybrid system for underwater applications, called uLARS. The new system is based on the concept of air to air refueling and may help recharge the battery underwater for a longer duration, on the grounds of which it is being touted to be majorly used with AUVs.
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Other than that, underwater connectors, more specifically the miniature ones, demonstrate significant potential in various applications like marine mammal deployable systems, and underwater surveillance system.
Increasing investments to develop state-of-the-art high speed data transfer and networking systems are likely to drive underwater connectors market from telecommunications segment. For instance, China is planning to invest USD 180 billion in 5G technology which will account for 50% of investments in the APAC 5G space by the year 2025.
Furthermore, various telecom companies worldwide are speculated to invest a total of USD 300 billion in infrastructure development for next-gen networks. As the telecom firms continue to pour capital in 5G and other networking technologies, the demand for underwater connectors is bound to increase.
The expanding telecommunication industry, deep-sea mining, rising defense expenditure & cybersecurity, and oil & gas exploration projects are some of the major drivers supporting the growth of the underwater connector market. Rising investments in telecommunication for next-generation networking, including 5G and high-speed data transfer are contributing to market growth. For instance, China is expected to invest over USD 180 billion for 5G connectivity.
Based on application segment, telecommunication sector may emerge as a profitable segment in the underwater connectors market owing to rising investments in telecom sector for next-generation networking, including high-speed data transfer and 5G.
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Industry giants like Fischer Connectors SA, Eaton, MacArtney, Amphenol, TE Connectivity, Siemens, BIRNS, Hydro Group, Connector Subsea Solutions, Teledyne Marine, Lemo S.A, GE, and Souriau SAS form the competitive hierarchy of underwater connectors market. Most of these companies are focusing on strategic collaborations and long-term contracts to provide reliable and efficient connectors for underwater applications.
Table of Contents (ToC) of the report:
Chapter 6. Underwater Connectors Market, By Application
6.1. Key trends, by application
6.2. Defense
6.2.1. Market estimates and forecast, 2015 - 2026
6.3. Oil & Gas
6.3.1. Market estimates and forecast, 2015 - 2026
6.4. ROVs/AUVs
6.4.1. Market estimates and forecast, 2015 - 2026
6.5. Telecommunication
6.5.1. Market estimates and forecast, 2015 - 2026
6.6. Oceanographic
6.6.1. Market estimates and forecast, 2015 - 2026
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