Ibisworld News

Strong revenue growth will continue over the next five years as AUV's (Autonomous Underwater Vehicle) are increasingly used in commercial scenarios predicts IBISWorld's market research. The Autonomous Underwater Vehicle (AUV) Manufacturing industry has generated robust growth over the past five years. From 2008 to 2013, industry revenue has posted double-digit gains, growing at an average annual rate of 13.8% to an estimated $156.9 million in revenue. The industry generates the majority of its revenue from military and security markets given that AUVs are used for surveillance, reconnaissance, mine countermeasures and anti-submarine warfare.

A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation. The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US flagged vessels and non-US flagged vessels. Marine transportation establishments using the facilities of the St. Lawrence Seaway Authority Commission are considered to use the Great Lakes water transportation system. This industry also includes deep-sea passenger transportation such as cruise ships. The updated report indicates that an overall decline in demand for freight transportation caused nearly all operators to struggle during the recession.

IBISWorld report indicates that government & private funding is expected to boost revenue for the US dredging industry. A weak economy has made growth for dredgers slower than expected. Nevertheless, increased government and private-sector funding is expected to boost revenue for the industry over the next five years. While lacking in prominence, the Dredging Services industry is an essential part of the US economy. This is because two vital sectors of the US economy – maritime tourism and international trade – depend heavily on dredging services. Additionally, dredging services play an important role in restoring and preserving wetlands, coastlines and maritime habitats. As such, the industry benefits from public and private restoration projects.

An updated IBISWorld market research report reveals opportunities for growth in Australian port trades. According to IBISWorld industry analyst Caroline Finch, “IBISWorld forecasts compound annual revenue growth of 2.3% over the five years through 2012-13”. In the current year, the industry is expected to grow 7.0% to reach $3.39 billion. The report indicates that atrong growth in the value of total merchandise trade has been the primary driver behind the Port Operators industry's solid performance over the past five years. The value of merchandise trade exports has grown faster than the value of merchandise trade imports because of high demand for commodity exports. As more cargo moved through Australia's ports, the industry gained more opportunities to charge for its port services.

China’s booming marine economy spurs growth in pollution control projects says a recent market research report. In the five years to 2012, industry revenue is expected to increase at an average annualized rate of 11.1% to total $238.2 million. Marine services firms will continue to thrive due to growing investment in marine engineering construction and marine pollution control programs in coming years, according to an IBISWorld market research report. The marine sector accounts for about 10% of the entire Chinese economy, and as its importance grows, so too will the Marine Services industry forecasts the report. Increasing investment in pollution control projects by China's central and local governments has led to strong growth for the Marine Services industry in China .

Global Marine & Container Terminal Operation Industry market research report available. Over the long term, IBISWorld projects that trends towards globalization, complex international supply chains and growing world GDP will see the volume of seaborne trade continue to grow strongly. Marine port operators worldwide are literally and figuratively in the middle of growth in international trade. "The main factors that have assisted the industry's growth in the past 15 years have been trade liberalization, world GDP growth and ongoing growth of Asian economies," says IBISWorld analyst Caroline Finch. "Through the process of trade liberalization…

Conditions will eventually improve for the industry over the next five years according to IBISWorld's market research. The report says that after years of easy growth, life became more difficult for operators in the industry in the second half of 2008. A crisis that began in the US housing market spread into a global recession, severely affecting world GDP. As a result, demand for merchandise imports and exports went into free fall while international seaborne trade volumes decreased. However conditions will slowly improve, but  the much-anticipated upswing may not occur early enough to save some players in the freight segments. The bright spot in the shipping industry will continue to be the cruise market in the short term.

The Intermodal Container Leasing industry is heavily dependent on large-scale domestic and international trade levels. Thus, as consumer spending fell during the recession and demand for goods across the economy dipped, fewer containers were needed for the transport of products. However, China's resilience and strong growth throughout the past five years, and the United States' close trade ties to that nation, kept demand for containers used for international trade high. As the US economy continues to recover, the industry is expected to keep growing at a brisk pace. Operating in the Intermodal Container Leasing industry has become a growing part of business for many shipping companies, with many firms leasing just under half of their total container fleet.

The national security considerations of governments and long-term planning undertaken for military expenditure have ensured that revenue for the Global Military Shipbuilding and Submarines industry has been relatively stable. IBISWorld expects that industry revenue will increase at an annualized 1.2% to $38.9 billion in the five years through 2012. “This growth is primarily attributed to the demand for military ships and boats to protect coastal waters and to expand and renew navy fleet sizes,” says IBISWorld industry analyst David Stephen. “The contributions to industry revenue are particularly strong from North America, Europe and North Asia.” Government military budget cuts are forecast to lead to slower revenue growth of 0.3% over 2012.

With consumers increasing their spending as the economy recovers, and manufacturers likewise boosting their production, demand for inland water transportation will get a boost. Additionally, rising fuel costs will lead to operators earning more money from fuel surcharges. However, the industry will experience some turbulence from rail transport providers, which are often seen as cheaper, faster and more environmentally friendly. For these reasons, industry research firm IBISWorld has added a report on the Inland Water Transportation industry to its growing industry report collection. The Inland Water Transportation industry dipped as the economy sank into recession. Over the past couple of years, consumers have decreased spending, and manufacturing industries have decreased production.

Northstar Electronics, Inc. which previously signed a Letter of Intent to acquire Echotec Sonar Corp., is announcing revenue opportunities within the sonar marketplace, along with an update to the LOI. As previously announced, Echotec Sonar is developing High Definition Sonar (HDS) systems which are capable of 3-D imaging for the military, commercial shipping, and commercial fishing markets. As the potential market sectors are investigated, early sales applications have been identified which are accelerating the development of the products and solidifying early revenue projections. Leading market researcher, Documental Solutions…