Market Overview:
The global marine electronic instrument market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for marine electronic instruments from the merchant marine, fishing vessel, yachts/recreation, military ship and underwater drone segments. Additionally, factors such as technological advancements and rising disposable income are also contributing to the growth of this market. On the basis of type, GPS & radar systems accounted for the largest share in 2017 and is projected to grow at a CAGR of 5.8% during the forecast period. This can be attributed to its growing demand from merchant marines for navigation purposes.
Product Definition:
A marine electronic instrument is an instrument that is used in a water environment. This can include things like depth finders, fish finders, and boat sonars. These instruments are important for fishermen, boaters, and other people who spend time on the water because they help them to better understand their surroundings and the conditions of the water.
GPS & Radar Systems:
GPS & radar systems are used for navigation and tracking purposes. GPS is Global Positioning System, a satellite-based positioning system that provides real-time location information. It enables users to receive precise target location as well as velocity in the form of latitude, longitude and accuracy information.
Fish Finders & Sonar:
Fish finders & sonar is a device used for detecting and locating objects in the water. It works on the principle of ultrasound, which transmits and receives ultrasonic pulses and reflects them back to identify objects.
Application Insights:
The military ship application segment led the market in 2017 and is projected to expand at a steady CAGR over the forecast period. The growth can be attributed to increasing spending on defense by countries, such as China and India, which are major consumers of marine electronics instruments. Moreover, presence of prominent manufacturers in developed economies like U.S., France and Germany; coupled with growing demand for warships from developing nations is expected to drive the product demand over the next seven years.
The underwater drones application segment accounted for a significant share in 2017 owing to its rising use by governments across the world for mapping ocean floor topography (depth) information along with other data related to marine life or mineral wealth beneath it using autonomous vehicles equipped with various sensors including video cameras and lasers that enable real-time exploration of large areas below sea level.
Regional Analysis:
Asia Pacific dominated the global marine electronics instrument market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of fishing vessels, merchant vessels, recreational boats and other small watercraft. Increasing disposable income among people in developing countries such as India and China is expected to drive demand for these products over the next eight years.
Europe accounted for a significant share of revenue in 2017 owing to growing investments by companies operating within this region. For instance, Garmin Ltd.
Growth Factors:
- Increasing demand for marine electronic instruments from the commercial sector as a result of increasing maritime trade and traffic.
- Growing popularity of recreational boating and sailing, which is driving the demand for marine electronic instruments.
- Increasing installation of advanced navigational systems in ships and boats to enhance safety and efficiency at sea.
- Proliferation of new technologies such as digital chart displays, autopilot systems, etc., that are boosting the demand for marine electronic instruments market worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Electronic Instrument Market Research Report
By Type
GPS & Radar Systems, Fish Finders & Sonar, Marine Autopilots, Communication Equipment, Audio & Video Equipment, Others
By Application
Merchant Marine, Fishing Vessel, Yachts/Recreation, Military Ship, Underwater Drones, Others
By Companies
Furuno, Wärtsilä, Garmin, Kongsberg Maritime, Navico, ThyssenKrupp Marine Systems, JRC, Northrop Grumman, FLIR Systems, Thales Group, Ultra Electronics, Raytheon Anschütz, ICOM, Johnson Outdoors, Highlander, Kraken Robotics, Neptune Sonar
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Marine Electronic Instrument Market Report Segments:
The global Marine Electronic Instrument market is segmented on the basis of:
Types
GPS & Radar Systems, Fish Finders & Sonar, Marine Autopilots, Communication Equipment, Audio & Video Equipment, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Merchant Marine, Fishing Vessel, Yachts/Recreation, Military Ship, Underwater Drones, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Furuno
- Wärtsilä
- Garmin
- Kongsberg Maritime
- Navico
- ThyssenKrupp Marine Systems
- JRC
- Northrop Grumman
- FLIR Systems
- Thales Group
- Ultra Electronics
- Raytheon Anschütz
- ICOM
- Johnson Outdoors
- Highlander
- Kraken Robotics
- Neptune Sonar
Highlights of The Marine Electronic Instrument Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- GPS & Radar Systems
- Fish Finders & Sonar
- Marine Autopilots
- Communication Equipment
- Audio & Video Equipment
- Others
- By Application:
- Merchant Marine
- Fishing Vessel
- Yachts/Recreation
- Military Ship
- Underwater Drones
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Marine Electronic Instrument Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Marine Electronic Instrument (MEI) is a type of electronic equipment used in marine navigation and communication. It includes navigational instruments, such as compasses and sextants, as well as communication devices such as radios and satellite phones.
Some of the major companies in the marine electronic instrument market are Furuno, W¤rtsil¤, Garmin, Kongsberg Maritime, Navico, ThyssenKrupp Marine Systems, JRC, Northrop Grumman, FLIR Systems, Thales Group, Ultra Electronics, Raytheon Ansch¼tz, ICOM, Johnson Outdoors, Highlander, Kraken Robotics, Neptune Sonar.
The marine electronic instrument market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Electronic Instrument Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Electronic Instrument Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Electronic Instrument Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Electronic Instrument Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Electronic Instrument Market Size & Forecast, 2018-2028
4.5.1 Marine Electronic Instrument Market Size and Y-o-Y Growth
4.5.2 Marine Electronic Instrument Market Absolute $ Opportunity
Chapter 5 Global Marine Electronic Instrument Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Marine Electronic Instrument Market Size Forecast by Type
5.2.1 GPS & Radar Systems
5.2.2 Fish Finders & Sonar
5.2.3 Marine Autopilots
5.2.4 Communication Equipment
5.2.5 Audio & Video Equipment
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Marine Electronic Instrument Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Marine Electronic Instrument Market Size Forecast by Applications
6.2.1 Merchant Marine
6.2.2 Fishing Vessel
6.2.3 Yachts/Recreation
6.2.4 Military Ship
6.2.5 Underwater Drones
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Electronic Instrument Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Electronic Instrument Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Marine Electronic Instrument Analysis and Forecast
9.1 Introduction
9.2 North America Marine Electronic Instrument Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Marine Electronic Instrument Market Size Forecast by Type
9.6.1 GPS & Radar Systems
9.6.2 Fish Finders & Sonar
9.6.3 Marine Autopilots
9.6.4 Communication Equipment
9.6.5 Audio & Video Equipment
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Marine Electronic Instrument Market Size Forecast by Applications
9.10.1 Merchant Marine
9.10.2 Fishing Vessel
9.10.3 Yachts/Recreation
9.10.4 Military Ship
9.10.5 Underwater Drones
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Marine Electronic Instrument Analysis and Forecast
10.1 Introduction
10.2 Europe Marine Electronic Instrument Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Marine Electronic Instrument Market Size Forecast by Type
10.6.1 GPS & Radar Systems
10.6.2 Fish Finders & Sonar
10.6.3 Marine Autopilots
10.6.4 Communication Equipment
10.6.5 Audio & Video Equipment
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Marine Electronic Instrument Market Size Forecast by Applications
10.10.1 Merchant Marine
10.10.2 Fishing Vessel
10.10.3 Yachts/Recreation
10.10.4 Military Ship
10.10.5 Underwater Drones
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Marine Electronic Instrument Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Marine Electronic Instrument Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Marine Electronic Instrument Market Size Forecast by Type
11.6.1 GPS & Radar Systems
11.6.2 Fish Finders & Sonar
11.6.3 Marine Autopilots
11.6.4 Communication Equipment
11.6.5 Audio & Video Equipment
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Marine Electronic Instrument Market Size Forecast by Applications
11.10.1 Merchant Marine
11.10.2 Fishing Vessel
11.10.3 Yachts/Recreation
11.10.4 Military Ship
11.10.5 Underwater Drones
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Marine Electronic Instrument Analysis and Forecast
12.1 Introduction
12.2 Latin America Marine Electronic Instrument Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Marine Electronic Instrument Market Size Forecast by Type
12.6.1 GPS & Radar Systems
12.6.2 Fish Finders & Sonar
12.6.3 Marine Autopilots
12.6.4 Communication Equipment
12.6.5 Audio & Video Equipment
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Marine Electronic Instrument Market Size Forecast by Applications
12.10.1 Merchant Marine
12.10.2 Fishing Vessel
12.10.3 Yachts/Recreation
12.10.4 Military Ship
12.10.5 Underwater Drones
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Marine Electronic Instrument Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Marine Electronic Instrument Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Marine Electronic Instrument Market Size Forecast by Type
13.6.1 GPS & Radar Systems
13.6.2 Fish Finders & Sonar
13.6.3 Marine Autopilots
13.6.4 Communication Equipment
13.6.5 Audio & Video Equipment
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Marine Electronic Instrument Market Size Forecast by Applications
13.10.1 Merchant Marine
13.10.2 Fishing Vessel
13.10.3 Yachts/Recreation
13.10.4 Military Ship
13.10.5 Underwater Drones
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Electronic Instrument Market: Competitive Dashboard
14.2 Global Marine Electronic Instrument Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Furuno
14.3.2 Wärtsilä
14.3.3 Garmin
14.3.4 Kongsberg Maritime
14.3.5 Navico
14.3.6 ThyssenKrupp Marine Systems
14.3.7 JRC
14.3.8 Northrop Grumman
14.3.9 FLIR Systems
14.3.10 Thales Group
14.3.11 Ultra Electronics
14.3.12 Raytheon Anschütz
14.3.13 ICOM
14.3.14 Johnson Outdoors
14.3.15 Highlander
14.3.16 Kraken Robotics
14.3.17 Neptune Sonar
