Underwater Connectors Market Analysis

Underwater Connectors Market Analysis

The rubber molded segment captured 31.50% of the underwater connectors market share in 2020 and is projected to witness around a 6% growth rate by 2027. These rubber molded connectors offer low cost and easy mating & de-mating operations, increasing their demand in various applications including ROVs, underwater cameras, and communication systems, among others. However, these underwater connectors showcase low-performance and limited lifespan in extremely harsh environments due to rubber coating. The market participants are continuously inclined toward the development of rubber molded connectors that require design modification to withstand various underwater applications.

The telecommunication segment held a market share of 30% in 2020 and will grow at a CAGR of 7.5% through 2027 led by the growing requirements for high-speed internet and network connectivity to accelerate digitalization & work-from-home initiatives. Rising initiatives and funding activities by regional governments and telecom operators to accelerate underwater cable networks will drive the market demand in the coming years.
 

The increasing development of 5G technology will further foster the development of submarine cable networks, adding an opportunity for the industry revenue. Several telecom operators are collectively investing in submarine communication cable projects to accelerate their 5G infrastructure and offer high bandwidth across the globe.
 

Asia Pacific underwater connectors market accounted for around 35.5% of revenue share in 2020 and is poised to attain a CAGR of over 7.5 % during 2021 to 2027 driven by growing development & integration of AUVs & UUVs in mining activities and defense applications. For example, in December 2020, the Government of South Korea initiated the Defense Acquisition Program Administration (DAPA) to accelerate the development of AUVs in mine detections and countermeasure activities. These new AUVs can deliver accurate navigation and collision avoidance capability for the regional navy. The rising development of AUV applications in defense will augment the market for underwater connectors manufacturers.
 

Rising government initiatives and funding activities to accelerate the navy’s capabilities will further create market opportunities for regional players. The government is focusing on a long-term collaboration with underwater connector providers to accelerate their research activities in marine defense, adding an opportunity to the industry demand.