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The marine electronics market is expected to grow by $ 927.70 million, progressing at a CAGR of more than 3% during the forecast period.
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The increase in maritime trade is one of the main factors driving market growth. However, factors such as delayed defense budget sanctions will hinder market growth.
More details: https://www.technavio.com/report/marine-electronics-market-industry-analysis
Marine Electronics Market: Product Overview
Common applications of sonar systems in the maritime sector are bathymetric studies, offshore oil and gas exploration and defense, and are used in military ships and unmanned submarine vehicles to track enemy ships and torpedoes. Significant applications of sonar systems in the marine industry are driving the growth of the marine electronics market. The growth of the marine electronics market share by the sonar systems segment will be slower than the market growth in the other segments.
Marine Electronics Market: Geographic Landscape
The presence of established marine electronics manufacturers and the increase in defense spending by their respective governments will significantly drive the growth of the marine electronics market in this region over the forecast period. 42% of market growth will come from North America during the forecast period. The United States is the critical market for marine electronics in North America. Market growth in this region will be slower than market growth in APAC, MEA and South America.
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Covered companies:
- FLIR Systems Inc.
- Furuno Electric Co. Ltd.
- Garmin Ltd.
- Kongsberg Gruppen ASA
- Navico
- Northrop Grumman Corp.
- Raytheon Co.
- Thales Group
- thyssenkrupp AG
- Ultra Electronics Holdings Plc
What our reports offer:
- Market share assessments for segments at regional and national level
- Strategic recommendations for new entrants
- It covers market data for 2019, 2020 and up to 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities and recommendations)
- Strategic recommendations in the main business segments based on market estimates
- Competitive landscaping mapping of the main common trends
- Company profiling with detailed strategies, financial data and recent developments
- Supply chain trends mapping the latest technological advances
Technavio suggests three forecast scenarios (optimistic, probable and pessimistic) considering the impact of COVID-19. Technavios’ in-depth research has influenced the direct and indirect COVID-19 market research reports.
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Key topics covered:
Synthesis
Market panorama
- Market ecosystem
- Value chain analysis
Market sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: forecasts for 2019-2024
Five Forces Analysis
- Summary of the five forces
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of newcomers
- Threat of substitutes
- Threat of rivalry
- Market condition
Market segmentation by product
- Market segments
- Comparison by product
- Sonar Systems – Market Size and Forecasts 2019-2024
- Radar – Market Size and Forecasts 2019-2024
- GPS Tracking Devices – Market Size and Forecasts 2019-2024
- Market opportunity by product
Customer landscape
Geographic landscape
- Geographic segmentation
- Geographic comparison
- North America – Market Size and Forecasts 2019-2024
- APAC – Market size and forecasts 2019-2024
- Europe – Market size and forecasts 2019-2024
- MEA – Market size and forecasts 2019-2024
- South America – Market size and forecasts 2019-2024
- Main leading countries
- Market opportunity by geography
- Volume Drivers “Demand has driven growth
- Market challenges
- Market trend
Seller landscape
- Overview
- Seller landscape
- Landscape interruption
Supplier analysis
- Covered suppliers
- Market positioning of suppliers
- FLIR Systems Inc.
- Furuno Electric Co. Ltd.
- Garmin Ltd.
- Kongsberg Gruppen ASA
- Navico
- Northrop Grumman Corp.
- Raytheon Co.
- Thales Group
- thyssenkrupp AG
- Ultra Electronics Holdings Plc
Appendix
- Purpose of the report
- Currency conversion rates for US $
- Research methodology
- List of abbreviations
About us
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