Marine electronics market Trends, Research, Competitive Landscape Analysis Till 2023
Marine Electronics Market: Information by Component —Forecast till 2023
- by type (hardware, software)
- by Vessel Type (Merchant Vessels, Fishing Vessels, Naval Vessels, Recreational Boats, Others)
- by Application (Navigation, Communication, Automation, Others)
- by Region
Marine Electronics Market Key Players
The key players in the Marine Electronics Market are
- Atlas Elektronik GmbH (Germany)
- FLIR Systems Inc. (US)
- Furuno Electric Co. Ltd (Japan)
- Garmin International (US)
- Ultra Electronics (UK)
- Thales Group (France)
- Northrop Grumman Corporation (US)
- Raytheon Company (US)
- Tokyo Keiki Inc. (Japan)
- Wartsila SAM Electronics GmbH (Germany)
The Marine Electronics Market is expected to register a CAGR of over 5% during the review period.
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Market Scenario
Marine electronics are waterproof devices designed for the marine environment on ships for various applications such as navigation and communication. Marine electronic devices comprise marine VHF radios, chart plotters, autopilots, fishfinders/sonars, radars, gyrocompasses, GPS, satellite TVs, and various audio and video devices. The factors driving the global Marine Electronics Market are increasing demand from the defense sector, and the rise in marine trade activities. As a result, the global Marine Electronics Market is expected to grow at a significant pace during the forecast period.
The increasing adoption of sonar systems for search and rescue operations is the key trends contributing to the growth of the Marine Electronics Market. A lack of proper standards is also expected to hinder the growth of the global Marine Electronics Market.
The global Marine Electronics Market has been segmented by component type, vessel type, application, and region.
On the basis of component type, the market has been divided into hardware and software. The hardware segment has the largest demand in the global Marine Electronics Market owing to increasing adoption of GPS systems by marine vessels. The software segment is expected to grow at the highest rate during the forecast period.
By vessel type, the market has been classified as merchant vessels, fishing vessels, naval vessels, recreational boats, and others. Naval vessels have the largest demand in the global Marine Electronics Market owing to increase demand of marine electronics by maritime force. The merchant vessels segment is expected to be fastest-growing during the forecast period.
On the basis of application, the market has been segmented into navigation, communication, automation, and others. Navigation segment has the largest demand in the global market owing to increase usage of GPS by maritime force and seaborne trade. The communication segment of the market is expected to register the higher CAGR during the forecast period.
The global Marine Electronics Market has also been studied by regions, such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The market in North America is expected to be the fastest-growing during the review period owing to the increased investment in an unmanned underwater vehicle (UUVs) and anti-submarine warfare (ASW) systems. Asia-Pacific region to lead the global market during the review period.
The intended audience for the global Marine Electronics Market are
- Submarine Operators
- Marine Organization
- Naval Organizations
- Maritime force
- Merchant Navy
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objectives
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
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