The global underwater connector market is estimated to account US$ 1.52 Bn in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period 2019 – 2027, to account to US$ 2.49 Bn by 2027.
The Asia Pacific region commands a significant market share in terms of revenue generated for underwater connector and it is estimated that it will continue to dominate the market share through-out the forecast period. Smart cities, and digitalization policies in various countries of APAC have been major driving forces behind the need of a robust internet infrastructure in the region, and have also been the biggest economic drivers for respective countries.
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Optical Submarine Cable systems play a principal role in international telecommunications, thanks to their superiority over satellite systems in terms of stability, latency, and upgradability. The business of constructing and then maintaining and selling capacity over submarine fibre optic cables is fascinating and is fundamental to modern-day communications. The sector has its unique challenges due to the extraordinarily rapid pace of development in transmission technologies as well as the timescales and levels of investment required to build new systems. This factor would be propelling the demand of underwater connector market in the forecast period.
Some of the key players operating in global underwater connector market are Birns Aquamate LLC, Birns, INC., Eaton Corporation, Fischer Connectors SA, Hydro Group PLC, LEMO S.A., Marshall Underwater Industries, Inc., SEACON Group, Souriau SAS, Teledyne Marine, Gisma Steckverbinder GmbH, C.R.Encapsulation Limited, Glenair, DWTEK Co. Ltd., Scorpion Oceanics Ltd. and among others
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Traditional geo-political disputes are gradually aggravating, as the several countries are striving to gain more control over maritime trade routes and maritime assets such as underwater oil reserves and other offshore resources. Following these disputes, the demand for constant and efficient maritime surveillance are being emphasized upon all countries. One of the major existing disputes is China's conflict with its neighbours in the South China Sea and Pacific Ocean, which is driving the demand for underwater systems in the South East Asian region, particularly in building naval strengths to counter underwater threats from enemies. Therefore, the underwater connector market across the globe is anticipated to grow.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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