Marine Electronics Market Scenario
Global Marine Electronics Market is expected to exhibit an over 5% CAGR From 2019 to 2023. 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, fish finders/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 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 towards 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.
Marine Electronics Market Segments:
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.
Marine Electronics Market Key Players Studied In Report:
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), and Wartsila SAM Electronics GmbH (Germany).
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Scope of the Marine Electronics Market Report
This report provides an in-depth analysis of the global marine electronics market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years in each region. The scope of the study segments the global marine electronics market by component type, vessel type, application, and by region.
Scope By Component Type:
By Vessel Type:
- Merchant Vessels
- Fishing Vessels
- Naval Vessels
- Recreational Boats
- North America
- Middle East & Africa
- Latin America
The Intended Audience for The Global Marine Electronics Market is
- Submarine Operators
- Marine Organization
- Naval Organizations
- Maritime force
- Merchant Navy
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objectives
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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