Q: Is it possible to estimate even very approximately the potential market of this so interesting small cap?
Thank you very much in advance
Thank you very much in advance
5i Research Answer:
PNG has not released an estimate of its total addressable market, (TAM). But the global seabed survey and mapping services market, a core segment for Kraken's KATFISH sonar and related products, is projected to grow from about $1.2 billion in 2024 to $2.5 billion by 2033 at a 9.1% CAGR. Kraken derives roughly 80% of revenue from defense applications (e.g., remote minehunting systems) and 20% from commercial uses like offshore surveys, amid rising global defense budgets targeting NATO's 2%+ GDP spending goals through 2035.