Navigation Systems Market in Marine Industry Analysis by Leading Key Leaders: DANELEC MARINE, FLIR Systems, Kongsberg Maritime, Northrop Grumman, FURUNO ELECTRIC, Honeywell, Raytheon Anschütz, Icom America

Industry/ Innovation/ Related News:

January, 2018:- France-based iXblue, a prominent company of the market, was selected by French Navy, to equip five of their new 4000-ton frigates, developed by Naval Group, with new marine navigation systems.
December, 2017:- Lockheed Martin signed a contract with the Canada-based OSI Maritime, to provide its integrated bridge and navigation system (IBNS) for the US Navy’s Freedom-class littoral combat ship (LCS) programme.
December, 2017:- Booz Allen signed a five-year contract worth USD 67.5 million, with the US Coast Guard and the US Navy, to provide and integrate the intelligence tools across navigation, positioning, and timing programs.

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Market Highlights:

Of late, with the rapid advances in technologies, various software tools, gadgets, and instruments are being used for marine navigation. These electronic or digital systems help the naval sailor navigate the ship conveniently, during low-visibility conditions such as fogs and blizzards, to the intended directions. The use of global positioning system (GPS) has become indispensable for marine navigation, in particular. Moreover, approximately every ship today is integrated with such advanced navigation tools for safe transport. In addition, with the integration of mobile tablets, the market is transforming towards the era of handheld GPS and navigation devices.
Traditionally, the sailors were reliant on the nautical charts that were actually plotted on papers. Such charts used to give a two-dimensional view of the sea and were updated after certain gaps. As a result, navigation became vulnerable with respect to sudden changes in the sea conditions. To avoid such concerns, electronic nautical charts were developed.

The raster chart and vector chart are the two major types of electronic nautical charts. While the raster chart focuses primarily on paper-based navigation, the vector chart is more data-oriented. Although, the data is hidden, the use of navigational software such as the Electronic Chart Display Information System (ECDIS), helps in the instant provision of data, via the display systems.

Major Key Players

DANELEC MARINE,
FLIR Systems, Inc.,
Kongsberg Maritime,
Northrop Grumman Sperry Marine B.V.,
Raytheon Anschütz,
FURUNO ELECTRIC CO. LTD.,
Honeywell International,
Icom America Inc.,
Periskal group, SevenCs GmbH, Transas, and Tresco Engineering bvba.

As per MRFR analysis, the global marine navigation system market has seen a significant growth in the last couple of years and it has been observed that, the market will remain in the growing phase till forecast period. This market was valued at USD 1,370.47 million in 2016, and is expected to reach USD 1,927.97 million by 2022 with the CAGR of 5.85%.

Currently, there are several chart plotting technologies that exist in the market. One prominent one is called SEA CLARE, a PC-based software that can be accessed in Windows 2000 and higher operating systems. The software, upon connection with the GPS, shows the speed, direction of heading, and position of the naval vessel in real-time. Similarly, Maris, a Norway-based company, had developed Pilot Mate, a chart system based on the ECDIS. In this chart, real-time updates, regarding the direction of heading and tidal information, are received over emails. Such systems also aid in route planning and monitoring.

Growth of marine navigation systems market is due to the rise in global connectivity through satellite communication and simultaneous increase in electronic navigation system. This electronic navigation system is further segmented into Electronic Chart Display and Information System (ECDIS), Raster Chart Display System (RCDS), and Vector Electronic Navigation Chart (VENC) which is believed to be the largest segment in overall marine electronic navigation system.

Marine navigation systems market is facing safety issues at sea. Adoption of electronic navigation for reducing the use of paper charts are believed to boost this market by the end of 2023. Moreover, implementation of regulations to adopt electronic navigation systems by international maritime organization (IMO) and activities related to advancement in research and development in marine electronic navigation system by major key players are believed to boost the growth of marine electronic navigation system market. Similarly, growing GDP figures of emerging economies, such as India and China coupled with rapid urbanization are envisioned to boost the growth of marine electronic navigation system market.

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Regional Analysis
North America extensively invests in the marine navigation systems, and thus generates a very high demand for these systems. In the recent years, the US has also been at the forefront of naval technology innovations. Although, Brazil and Canada make some investments in the development of such systems, yet the market is primarily dominated by the US. Moreover, the North American region is surrounded by seas and ocean, which makes the region a very attractive market for ships, boats, and submarines etc., and consequently for the maritime systems that are integrated with such vessels.

Similarly, over the years, a large focus on increasing the efficiency of maritime systems has been witnessed, in the European region, where the sea-freight is a major boost to the national revenue. The European Union (EU), naval shipyards, and other governing bodies ensure the continuous maintenance and upgrade of the maritime systems.
As a result, it is expected that the North American and the European region, in particular, would witness a significant growth in their market revenues, during the forecast period.

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