Marine electronics are electronic components designed for the marine environment on ships for various applications such as navigation and communication. The demand for marine electronics is growing rapidly owing to increasing demand from the defense sector, and rise in marine trade activities.
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.
Request for Free Sample Pages:
Marine electronics are waterproof devices designed for the marine environment on ships for various applications such as navigation and communication. Marine electronic devices comprises 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.
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 classifed as merchant vessels, fishing vessels, naval vessels, recreational boats, and others. Naval vessels has 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 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).
Access Full Summary of Report:
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
The MRFR team has the supreme objective to provide optimum quality market research and intelligence services to our clients. Our market research studies by component type, vessel type, application, and market players for the global, regional, and country-level market segments enable our clients to see more, know more, and do more, which helps answer their most pertinent questions.
+1 646 845 9312
Email: [email protected]