openPR Logo
Press release

Marine Navigation System Market 2019 | Competitive Landscape By Danelec Marine, FURUNO Electric, Periskal, Northrop Grumman, Wartsila, Raytheon, Kongsberg Maritime and FLIR

01-22-2019 07:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Marine Navigation Systems Market

Marine Navigation Systems Market

Global Marine Navigation System Market, By Type (Chart Plotter, Electronic Navigation Chart, Others), Application (Ship, Remotely Operated Underwater Vehicle, Autonomous Underwater Vehicle, Boat) End-use Industry (Defense, Commercial) and Region - Forecast till 2023

Danelec Marine A/S, FURUNO Electric Co. Ltd., Periskal Group, Northrop Grumman Sperry Marine B.V., Wartsila, Raytheon Anschutz, Safran Electronics & Defense, Honeywell International Inc., Kongsberg Maritime, and FLIR Systems Inc. are notable players in the marine navigation system market.

The report offers comprehensive profiles on these market players and assesses their current standing in the marine navigation system market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Get Sample Report with Complete TOC @

Marine Navigation – Summary

The global market for maritime navigation to scale up to an impressive USD 3,159.5 million during the forecast period (2018-2023), in a detailed report by Market Research Future (MRFR). Increase in various activities such as defense, recreation, and seaborne trade is expected to aid the market in attaining a staggering CAGR of 12.42% in the foreseeable future. Governments have also realized opportunities that sea-life offers can impact the revenue generation and help in the growth of GDP of countries. Hence, they are more than obliging in investing money in this sector.

Recent times have seen a considerable surge in piracy that poses a significant threat to world shipping industry. According to the International Maritime Bureau, in 2017, around 180 cases of piracy and armed robbery were registered, and what is even more daunting, six vessels were hijacked. However, a slivering hope can be experienced as the number of such cases are decreasing in both the Gulf of Aden and in the Indian Ocean. Meanwhile, other issues such as drug trafficking, terrorism, and territorial disputes are keeping the authorities busy. These factors have proved essential for the implementation of maritime security and navigation plays an integral part in it. For instance, the U.S. Navy is expecting a heavy boost in defense expenditure in 2018-2019. Furthermore, maritime tensions have given rise to the naval defense expenditure of India and China.

Maritime transport accounts for the largest share of the global trade and economy as almost 80% of the world’s goods get transported via sea. International Chamber of Shipping reports that the seaborne trade is set to expand further and prove beneficial for clients as this would result in competitive freight cost. In addition, this would open up additional job and business opportunities.

Maritime and coastal tourism is also on the rise and fetches in considerable revenue for the market. The European Commission reports that the sector is the largest maritime activity in Europe and employs almost 3.2 million people while earning revenue of USD 212 billion. Dubai has this similar experience where the maritime tourists and cruises grew by 15% and 18% respectively from 2016 to 2017. The Chinese government has also set their eyes on this industry as this could give rise to manufacturing business considerably.

However, a disorder in navigation can be caused by hacking the GPS signals with widely available cheap jamming devices. Modern designs of ships do not allow a backup navigational system unlike aircraft. Hence, they are more vulnerable to cybercrimes. Tackling this issue is a concern for many governments. The U.S. and South Korea have started developing an earth-based navigational system to counter this threat. Till then, the danger can deter the market growth.

Industry Trend:

The industry is currently experiencing various researches & developments, and the marine navigation market can use that as leverage. FLIR has recently introduced a FLIR M500 multi-sensor maritime camera that can be considered exemplary.


The global marine navigation market can be segmented by type, application, and end-users.

By type, the market includes chart plotter, electronic navigational chart, and others. Chart plotter generates the maximum share of the market and is going to remain lucrative enough to dominate the market in the coming years. However, electronic navigation chart (ENC) is expected to register the fastest growth owing to stringent mandates regarding its integration in all vessels, implemented by the International Maritime Organization (IMO).

Application-wise, the market comprises ships, remotely controlled underwater vehicles, autonomous underwater vehicles, and boats. Ships contribute the maximum to the market by generating market revenue and is also expected to remain so in coming years.

Based on end-user, the defense is currently leading the market owing to the need for the precise and reliable monitoring system. The segment is also expected to register the fastest growth during the forecast period. Detection of enemy position and tracing of enemies features play an integral role in these navigational systems. Hence, the segment demands up-to-date devices that can give it an edge over the rest.

Regional Analysis:

Geographically, the market covers North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America.

North America accounted for the maximum market share in 2016 and is expected to remain so in the foreseeable future. Owing to high expenditure and technological advancements, the region generates a substantial demand for various equipment regarding marine navigation. The U.S. leads the regional market. However, Canada is also making some considerable progress.

The APAC held the second position in 2016 and is expected to project the highest CAGR during the forecast period. The region is experiencing a considerable rise in various countries’ defense budget which directly triggers the marine navigation market. At the same time, seaborne trade is also experiencing a surge.

Early Diners Are Offered Free Customization- Up to 20%
Get Attractive Discount @

Market Dashboard:

The dietary trend has seen a considerable rise in seafood consumption, a trait which the fishers and seafarers are willing to cash in. The fishing industry in India has roughly 14 million people involved, and the Chinese number of 42 million is ever more influencing. However, these two countries are lacking proper navigational network. Hence, the market has more opportunities for further expansion in these segments.

Factors such as increasing lifestyle standard have resulted in a considerable change in recreational preferences. People are now opting for personal pleasure boats to spend their leisure time. The U.S. has a large market for exporting such boats abroad. The 2018 edition of the Pleasure Boat International Resource Guide reveals the U.S. government earned USD 1.6 billion in 2016.

Various companies are targeting a worldwide market for their business portfolio. For instance, Danelec Marine has announced a partnership with the Indian government to supply voyage data recorders (VDRs) to Indian vessels. Northrop Grumman is providing radars to the Peruvian navy can also be taken into account.


1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
2.6 Key Buying Criteria

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Growing Emphasis On Maritime Security And Subsequent Increase In Naval Budgets
4.2.2 Surge In International Seaborne Trade
4.2.3 Rise In Coastal And Maritime Tourism
4.3 Restraint
4.3.1 Vulnerability Of Electronic Navigation Systems To Cyber Attacks
4.4 Opportunities
4.4.1 Upgrade Of Fishing Vessels
4.4.2 Increasing Demand For Recreational Boats
4.5 Trend
4.5.1 Augmented Reality Applications In Marine Navigation Systems

5 Market Factor Analysis
5.1 Porter’s Five Forces Model
5.1.1 Threat Of New Entrants
5.1.2 Bargaining Power Of Suppliers
5.1.3 Bargaining Power Of Buyers
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Supply Chain

6 Patent Trends


Ask for your specific company profile and country level customization on reports.

Get More Information on Marine Navigation Systems Market Research Report –Forecast to 2023 @

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Market Research Future
Office No. 524/528
Amanora Chambers
Magarpatta Road
Pune -411028
Maharashtra, India

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Marine Navigation System Market 2019 | Competitive Landscape By Danelec Marine, FURUNO Electric, Periskal, Northrop Grumman, Wartsila, Raytheon, Kongsberg Maritime and FLIR here

News-ID: 1519578 • Views: 724

More Releases from Market Research Future

Clinical Trial Management System Market Demand, Industry Share, Size, Applicatio …
Clinical Trial Management System Market Analysis by Type (Enterprise Clinical Trial Management System), Delivery Model (Licensed Enterprise), Component (Service) and End-User (Medical Device Manufacturers), and Regional Competitive Share, Size and Trends, 2018-2023 Market Overview Clinical Trial Management System Market is mostly a software system which helps to plan, prepare, and manage a large amount of clinical trials data that is produced by biotechnological and pharmaceutical companies. Drug research has gained momentum in
Reusable Satellite Launch Vehicle (RSLV) Market 2019-2023 | Report Information b …
Global Reusable Satellite Launch Vehicle Market Report Information by Configuration (Single Stage, Multiple Stage), by Type (Partially Reusable, Fully Reusable), Vehicle Weight (Up to 4,000lbs, 4000-9000lbs, Over 9000lbs), & by Region - Forecast Till 2023 The Reusable satellite launch vehicle market is estimated to witness a CAGR of more than 12% during the forecast period from 2018 to 2023. The key players in the reusable satellite launch vehicle market are Airbus S.A.S
Bakery Enzymes Market Global Research Report and Top Key Players: AB Enzymes Gmb …
Market Overview The increasing demand for bakery products in the food and beverage industry including, bread, cookies, and pastries are raising the demand for bakery enzymes at a global level. Enzymes are an important ingredient used in most bakery products. There are two scenarios regarding the use of enzymes, either the enzymes are used to convert the raw material into the main product, or the enzymes are used as additives to
Commercial Airport Lighting Market 2019-2023 | Worldwide Overview By Technology, …
Global Commercial Airport Lighting Market Research Report: Information by Technology (LED, Non-LED), by Application (Airside Lighting, Terminal Lighting, Landside Lighting), and by Region — Forecast till 2023 Honeywell International Inc., (US), ADB SAFEGATE (US), ABB (Switzerland), vosla GmBH (Germany), Avlite (Australia), Carmanah (Canada), Eaton (Ireland), atg airports limited (UK), Avionics Group (US), and HELLA GmBH & Co. KGaA (Germany) are some of the prominent players profiled in MRFR Analysis and are

All 5 Releases

More Releases for Marine

Agar Agar Manufacaturer - Marine Hydrocolloids
Agar Agar Food Grade (China Grass) Agar Agar is used as 100% vegetarian substitute for Gelatin (manufactured from animal bones and skin) in the food industry. The usage is fast gaining ground due to the worldwide shift for products of vegetable origin. Agar Agar has been used for many centuries as high performance gelling agent. Its ability to produce clear colourless, odourless, and natural gels without the support of other colloids has
Marine Navigation Systems Market Growth
In this report, we studies the present scenario (with the base year being 2017) and the growth prospects of global Marine Navigation Systems market for 2018-2023. Key Questions Answered in this report: What will the Marine Navigation Systems Market the growth rate be in 2023? What are the key factors driving the Global Marine Navigation Systems Market with a focus on the Global market? What are the key market trends in Marine Navigation Systems
Marine Diesel Engines Market adds a New Marine Diesel Engines Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 5% CAGR to 2024. Marine Diesel Engines Market size is set to exceed USD 7 billion by 2024, according to a new research report. Growing demand for economic viable engines coupled with rise in seaborne trade will drive marine diesel engines market. According to United
Global Marine Grease Market 2017 - Chevron, Castrol, Lubmarine, BP Marine
Apex Market Reports, recently published a detailed market research study focused on the "Marine Grease Market" across the global, regional and country level. The report provides 360° analysis of "Marine Grease Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Marine Grease industry, and estimates the future trend of Marine Grease market
Marine Antifouling System Market 2017 - CMS Marine, ENWA Sandnes, Globus Benelux …
Apex Research, recently published a detailed market research study focused on the "Marine Antifouling System Market" across the global, regional and country level. The report provides 360° analysis of "Marine Antifouling System Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Marine Antifouling System industry, and estimates the future trend of Marine
Marine Weather App Saves Lives
Athens, London, New York, 03/12/2017