This industry is an essential part of the US economy because two vital sectors, maritime tourism and international trade, depend heavily on dredging services. As a result, the industry benefits from public and private restoration projects. Despite federal budget constraints over the past five years, the industry has experienced revenue growth due to strong underlying demand. Growth is anticipated to quicken in the coming five years as freight lines develop larger cargo vessels, necessitating investments in dredging services to increase the capacity of ports. A legislative push to free more funding for port improvements is also expected to benefit industry companies, which will invest in more powerful, fuel-efficient fleets to meet growing demand.
This industry provides dredging services, such as moving deep-water sediment to keep waterways open for commerce and replenishing beaches and other maritime and wetland environments.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.