Electronic Navigational Charts (ENC) Market Growth, Sales, Trends, M&A Activity and Forecast 2018 - 2026

Marketresearchreports.biz Announced New Study on Report "Electronic Navigational Charts (ENC) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026"

Electronic Navigational Charts (ENC) Market: Overview

An electronic navigational chart (ENC) caries information on features useful for marine navigation, including coastlines, bathymetry, beacons, and obstructions. Electronic navigational charts are complied with International Hydrographic Organization (IHO) S57 specifications. The IHO S57 standard is used by ECDIS (Electronic Chart Display and Information System) manufacturers to display navigational data on the charts. Electronic navigational charts are much superior to raster or paper charts. Systems using ENCs can be programmed to provide information about an approaching threat in relation to charted information and a ship’s movement and position. ENCs are approved by the International Maritime Organization (IMO) as a paper chart equivalent. Further, as per the IMO, vessels and ships equipped with ENCs do not need to not carry paper charts as is normally required under the Safety of Life at Sea (SOLAS) Convention. The contract fee for electronic navigational charts is determined on the basis of contract period, number of units, and types of ENCs.

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Electronic Navigational Charts (ENC) Market: Drivers and Restraints

Safety requirements set up by the IMO, increase in trend toward safe navigational systems, and expansion of the maritime and aircraft industry worldwide are expected to propel the global electronic navigational charts market in the coming years. The paper catalogue is replaced by a digital catalogue (of which there are many available), the order is sent by e-mail, and the chart distributor sends a license for the ENCs by e-mail. The advantage of ENCs is that the CDs that hold the ENCs are usually already on board. The ship can then load the charts from the CDs onto the ECDIS when the license is issued, eliminating the need to physically send any goods. Many companies are trying to enter into the electronic navigational charts space through M&A activities. For instance, in 2017, Garmin Ltd., acquired the Italian electronic navigation charts company, Navionics S.p.A.. Moreover, the requirement of training pertaining to electronic navigational charts is likely to hamper the growth of the electronic navigational charts market. Shipping companies face challenges while training crew in the use of ECDIS. There are options to follow a generic ECDIS training or a type-specific training. However, the crew also needs to be trained in ordering and licensing procedures. The process of operating a digital catalogue, planning a voyage, determining license requirements, and loading the licenses onto the ECDIS requires training in its own right. This is especially true due to the many different types of catalogue software in existence, all with their own user interface and peculiarities.

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Electronic Navigational Charts (ENC) Market: Segmentation

The electronic navigational charts market can be segmented based on application, component, and region. Based on application, the electronic navigational charts market can be classified into aviation, marine, and others. In terms of component, the electronic navigational charts market can be categorized into hardware, software, and services. Based on geography, the electronic navigational charts market can be segmented into North America, Europe, Middle East & Africa, Asia Pacific, and South America. North America and Europe are expected to lead the electronic navigational charts market due to an expansion in the maritime sector, increase in safety pertaining to navigational systems, and the presence of established players providing electronic navigational charts. Moreover, a rise in the popularity of electronic navigational charts for ships and aircrafts is expected to propel the electronic navigational charts market in Asia Pacific over the forecast period from 2018 to 2026.

Electronic Navigational Charts (ENC) Market: Key Players

Some of the key players involved in the electronic navigational charts market are Electronic Charts Company, Inc., ChartCo Limited, Japan Hydrographic Charts & Publications Co., Ltd., OceanWise, Poseidon Navigation Services Ltd, Maritime Services Ltd., Sirm SPA, Jeppesen, SRH Marine Electronics S.A., Maryland Nautical, American Nautical Services, Inc., Fontanski Marine Supply, and Nautisk Forlag AS.

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North America (U.S. and Canada)
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Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

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