Market Overview:
The global magnetic compass market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for aviation and navigation applications. Additionally, the growing demand for handheld devices is also contributing to the growth of this market. North America dominates the global magnetic compass market, followed by Europe and Asia Pacific.
Product Definition:
A magnetic compass is a navigational instrument that measures the direction of the earth's magnetic field. It is used to find bearings and navigate in the absence of other landmarks or navigation aids.
Direct-reading:
Direct-reading compasses are used in Magnetic Compass (MC) market. They are majorly used in automotive industry for measuring angles and positions of various parts on car bodies. These devices have replaced traditional methods such as trial and error method or indirect measurement systems which were earlier used to measure the angle of incidence, the direction and position of magnetic field etc.
Distant-reading:
Distant-reading is a process of determining the direction and distance between two objects using magnetic compasses. It is an old method which has been used by almost every culture across the globe. The technique can be used in various applications such as agriculture, mining, military intelligence, construction etc. In this method light source (laser or candle) is used to measure the angle between two objects.
Application Insights:
The navigation application segment led the global magnetic compass market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing use of these devices in marine applications, such as ships and boats, wherein they are used for determining direction with respect to the Earth's magnetic field. Moreover, increasing adoption of this technology for providing real-time location information during aviation operations is expected to drive demand over the coming years.
The aviation segment accounted for more than 25% revenue share in 2017 owing to its growing usage across various applications including air traffic control tower operations and airport safety monitoring systems among others.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of prominent players such as NU- magnetics Corporation; however, Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for navigation systems and aircraft equipment in this region. China is one of the major contributors towards regional growth due to its large aviation industry.
The European market also contributed significantly towards overall revenue generation through marine applications and shipborne GPS devices sales. However, a significant share of Latin American countries can also be seen within this region due to growing investments by foreign players such as Brincos Compañia de Navigacion S.A.
Growth Factors:
- Increasing demand for navigational devices in the automotive and aerospace industries
- Growing popularity of smartphones and other portable electronic devices that require magnetic compass functionality
- Proliferation of digital mapping and navigation applications that rely on magnetic compass readings
- Advances in sensor technology that improve the accuracy and reliability of magnetic compass readings
- Increased awareness among consumers about the benefits of using a magnetic compass for outdoor activities
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Compass Market Research Report
By Type
Direct-reading, Distant-reading
By Application
Aviation, Navigation
By Companies
MOOG INC., Suzhou Changfeng Instruments, Ritchie Navigation, SIRS, AMEE & Co, SmartDeep Technology
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
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Compass Market Report Segments:
The global Magnetic Compass market is segmented on the basis of:
Types
Direct-reading, Distant-reading
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
Aviation, Navigation
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:
- MOOG INC.
- Suzhou Changfeng Instruments
- Ritchie Navigation
- SIRS
- AMEE & Co
- SmartDeep Technology
Highlights of The Magnetic Compass 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:
- Direct-reading
- Distant-reading
- By Application:
- Aviation
- Navigation
- 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 Magnetic Compass 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?
A magnetic compass is a device used to determine the direction of north by detecting the Earth's magnetic field.
Some of the key players operating in the magnetic compass market are MOOG INC., Suzhou Changfeng Instruments, Ritchie Navigation, SIRS, AMEE & Co, SmartDeep Technology.
The magnetic compass market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Magnetic Compass Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Magnetic Compass Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Magnetic Compass Market - Supply Chain
4.5. Global Magnetic Compass Market Forecast
4.5.1. Magnetic Compass Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Magnetic Compass Market Size (000 Units) and Y-o-Y Growth
4.5.3. Magnetic Compass Market Absolute $ Opportunity
5. Global Magnetic Compass Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Magnetic Compass Market Size and Volume Forecast by Type
5.3.1. Direct-reading
5.3.2. Distant-reading
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Magnetic Compass Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Magnetic Compass Market Size and Volume Forecast by Application
6.3.1. Aviation
6.3.2. Navigation
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Magnetic Compass Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Magnetic Compass Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Magnetic Compass Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Magnetic Compass Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Magnetic Compass Demand Share Forecast, 2019-2026
9. North America Magnetic Compass Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Magnetic Compass Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Magnetic Compass Market Size and Volume Forecast by Application
9.4.1. Aviation
9.4.2. Navigation
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Magnetic Compass Market Size and Volume Forecast by Type
9.7.1. Direct-reading
9.7.2. Distant-reading
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Magnetic Compass Demand Share Forecast, 2019-2026
10. Latin America Magnetic Compass Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Magnetic Compass Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Magnetic Compass Market Size and Volume Forecast by Application
10.4.1. Aviation
10.4.2. Navigation
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Magnetic Compass Market Size and Volume Forecast by Type
10.7.1. Direct-reading
10.7.2. Distant-reading
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Magnetic Compass Demand Share Forecast, 2019-2026
11. Europe Magnetic Compass Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Magnetic Compass Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Magnetic Compass Market Size and Volume Forecast by Application
11.4.1. Aviation
11.4.2. Navigation
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Magnetic Compass Market Size and Volume Forecast by Type
11.7.1. Direct-reading
11.7.2. Distant-reading
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Magnetic Compass Demand Share, 2019-2026
12. Asia Pacific Magnetic Compass Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Magnetic Compass Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Magnetic Compass Market Size and Volume Forecast by Application
12.4.1. Aviation
12.4.2. Navigation
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Magnetic Compass Market Size and Volume Forecast by Type
12.7.1. Direct-reading
12.7.2. Distant-reading
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Magnetic Compass Demand Share, 2019-2026
13. Middle East & Africa Magnetic Compass Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Magnetic Compass Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Magnetic Compass Market Size and Volume Forecast by Application
13.4.1. Aviation
13.4.2. Navigation
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Magnetic Compass Market Size and Volume Forecast by Type
13.7.1. Direct-reading
13.7.2. Distant-reading
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Magnetic Compass Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Magnetic Compass Market: Market Share Analysis
14.2. Magnetic Compass Distributors and Customers
14.3. Magnetic Compass Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. MOOG INC.
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Suzhou Changfeng Instruments
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Ritchie Navigation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SIRS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. AMEE & Co
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SmartDeep Technology
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
