Market Overview:
The global marine electronics 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 GPS and radar systems, fish finders and sonar, marine autopilots, communication equipment, audio and video equipment in merchant marine, fishing vessels, yachts/recreation boats, military applications and underwater drones. However, the high cost of these products may restrain the growth of this market during the forecast period. North America is expected to hold the largest share of the global marine electronics market in 2018 followed by Europe.
Product Definition:
Marine electronics are electronic devices that are used on boats or ships. They include devices like radios, GPS systems, and fishfinders. Marine electronics are important because they allow boats and ships to communicate with each other, navigate safely, and find fish.
GPS & Radar Systems:
GPS & radar systems are used for navigation and tracking purposes. GPS is Global Positioning System, a satellite-based system that provides real-time location information. It consists of three components: a control center, satellites, and receivers on earth’s surface or in vehicles. The positioning service in GPS is provided by the Control Area Network (CAN), which consists of four to six stations placed at fixed locations around the globe with their signals broadcasted into the air.
Fish Finders & Sonar:
Fish finders & sonar is a device used for detecting and locating objects in the water. It is primarily used in marine electronics such as depth finders, fishfinders, navigation systems, radar and satellite communication devices. The technology has evolved over time with various innovations including transducers ( ultrasonic sensors or electromagnetic antennas), signal processing techniques (active/passive scanning) and display technologies.
Application Insights:
The military application segment led the global marine electronics market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growing use of UAVs (unmanned aerial vehicles) for surveillance and reconnaissance has resulted in increased demand for advanced electronics systems on board these aircraft, which is expected to drive growth over the coming years.
In addition, technological advancements such as implementation of AI (artificial intelligence) technology in warfare are anticipated to further propel growth during the forecast period. For instance, Israel¢â‚¬â„¢s Elbit Systems developed an AI system known as ¢â‚¬Å“Cogniteam¢â‚¬ that can improve battlefield situational awareness by identifying patterns of activity that could indicate enemy plans or intentions and provide critical information before they are detected by human eyesight.
Regional Analysis:
Asia Pacific dominated the global marine electronics market in terms of revenue share in 2017. The region is expected to continue its dominance over the forecast period owing to increasing demand for recreational and commercial vessels, along with rising investments by countries such as China and India. Europe accounted for a significant share of the overall market due to high demand from countries such as U.K., Germany, Italy, and France among others. North America is also projected to witness steady growth over the next eight years owing to growing awareness regarding marine electronics among boaters across U.S.
Growth Factors:
- Increasing demand for marine electronics from the commercial sector as a result of increasing maritime trade and traffic.
- Growing popularity of recreational boating and sailing, which is driving demand for marine electronics products such as GPS navigation systems, fish finders, and autopilot systems.
- Rapid advancements in technology that are making marine electronics products more sophisticated and feature-rich, thereby attracting new consumers to the market.
- Rising disposable income levels of consumers in developed countries that are enabling them to invest in more expensive but advanced marine electronics products.
- Proliferation of online retail channels through which consumers can purchase marine electronics products at discounted prices, thus boosting sales growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Electronics Market Research Report
By Type
GPS & Radar Systems, Fish Finders & Sonar, Marine Autopilots, Communication Equipment, Audio & Video Equipment
By Application
Merchant Marine, Fishing Vessel, Yachts/Recreation, Military, Underwater Drones
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
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Marine Electronics Market Report Segments:
The global Marine Electronics market is segmented on the basis of:
Types
GPS & Radar Systems, Fish Finders & Sonar, Marine Autopilots, Communication Equipment, Audio & Video Equipment
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, Underwater Drones
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 Electronics 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
- By Application:
- Merchant Marine
- Fishing Vessel
- Yachts/Recreation
- Military
- Underwater Drones
- 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 Electronics 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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 electronics are devices and systems used in marine environments, such as ships, submarines, aircraft and shore-based installations. They include navigation equipment, communication systems and sensors.
Some of the major players in the marine electronics 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 electronics market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Electronics 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 Electronics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Electronics 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 Electronics 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 Electronics Market Size & Forecast, 2020-2028
4.5.1 Marine Electronics Market Size and Y-o-Y Growth
4.5.2 Marine Electronics Market Absolute $ Opportunity
Chapter 5 Global 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 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
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Merchant Marine
6.2.2 Fishing Vessel
6.2.3 Yachts/Recreation
6.2.4 Military
6.2.5 Underwater Drones
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Electronics 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 Electronics 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 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
9.7 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 Market Size Forecast by Applications
9.10.1 Merchant Marine
9.10.2 Fishing Vessel
9.10.3 Yachts/Recreation
9.10.4 Military
9.10.5 Underwater Drones
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 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
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Merchant Marine
10.10.2 Fishing Vessel
10.10.3 Yachts/Recreation
10.10.4 Military
10.10.5 Underwater Drones
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 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
11.7 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 Market Size Forecast by Applications
11.10.1 Merchant Marine
11.10.2 Fishing Vessel
11.10.3 Yachts/Recreation
11.10.4 Military
11.10.5 Underwater Drones
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 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
12.7 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 Market Size Forecast by Applications
12.10.1 Merchant Marine
12.10.2 Fishing Vessel
12.10.3 Yachts/Recreation
12.10.4 Military
12.10.5 Underwater Drones
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) 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
13.7 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) Market Size Forecast by Applications
13.10.1 Merchant Marine
13.10.2 Fishing Vessel
13.10.3 Yachts/Recreation
13.10.4 Military
13.10.5 Underwater Drones
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 Electronics Market: Competitive Dashboard
14.2 Global Marine Electronics 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
