Study on Global Marine Electronics Market Highlights Key Development Factors and Upcoming Trends During forecast 2018-2028 || Key Players - Furuno Electric Co. Ltd., Navico Holding AS, Garmin Ltd. FLIR Systems Inc., Northrop Grumman Corporation (Sperry Ma

A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Study on Global Marine Electronics Market Highlights Key Development Factors and Upcoming Trends During forecast 2018-2028” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview.

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 Marine electronics comprises electronic devices designed for the marine environment. Marine electronic devices are water-resistant so that salt water cannot affect or destroy them. Marine electronic devices include marine VHF radios, chart plotters, autopilots, fish finders/sonars, radars, gyrocompasses, GPS, satellite TVs, and various audio and video devices. The marine electronics market is highly dependent on the performance of the ship industry. The marine electronics market is divided into four segments on the basis of ship/boat categories. The ships/boats taken into consideration for the marine electronics market are merchant vessels (general cargo ships, bulk carriers, containerships, and oil tankers), fishing vessels (big vessels that are allowed into the deep sea and used for commercial fishing), yachts/recreational boats (all sailing boats and vessels used for recreational activities), and military naval (all military surface vessels and boats such as surface combatants, patrol combatants, and amphibious warfare ships, and those involved in military logistics and coastal defense). The factors driving the global marine electronics market are mandatory government regulations, increasing demand from the defense sector, growing concern for safety and security, and increasing globalization and ocean trade activities.

Revenue generated by the global marine electronics market is estimated to exhibit a single digit CAGR, and hence, reach US$ 7.7 Bn by 2028. On the basis of marine electronics component type, the hardware segment is estimated to hold the largest share in 2028 of the marine electronics market. However, the marine electronics software segment is expected to exhibit the highest CAGR. On the basis of application, the marine electronics merchant vessels segment is estimated to hold approximately 53.5% of the market share in 2028. On the basis of marine electronics hardware segment, the multifunction navigation segment is estimated to exhibit a CAGR of 7.3%, during the forecast period.

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The marine electronics market in South East Asia is expected to witness the highest growth in the global market, owing to the increasing adoption of security and safety devices, and huge investments in the marine industry, complemented by the expansion of both the industries in the region.

In the final section of the report, we include a competitive landscape to provide clients with a dashboard view, based on categories of providers in the value chain, presence in marine electronics portfolio, and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the marine electronics value chain, and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, and recent developments in marine electronics space. Key competitors covered in the marine electronics value chain are Furuno Electric Co., Ltd., Navico Holding AS, Garmin Ltd., FLIR Systems, Inc., Northrop Grumman Corporation (Sperry Marine), Japan Radio Co., Ltd., Wartsila SAM Electronics GmbH, Raytheon Company, Tokyo Keiki Inc., Neptune Sonar Limited, Kongsberg Maritime, ATLAS ELEKTRONIK Group, Saab AB, Icom Inc., and Elcome International LLC.

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