Marine Electronics Market Booming the Industries by Ravisisng keyplayers | Transas, Kongsberg Gruppen, Intellian, Honeywell Process Solutions, Johnson Outdoors Marine Electronics Inc. (Hummingbird), Atlas Electronics

Marine electronics are specially designed electronic devices used in ships, yachts or boats, which have water proofing or water corrosion resistance properties that protect ships, boats or yachts from salty water, brackish water, and irregular waves. These devices come in sizes ranging from 7 inches to 19 inches. Each marine device has its own specific function.

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Ability of marine electronics to withstand extreme weather conditions is one of the major factors driving growth of the market

The marine environment is subjected to extreme weather conditions such as change in temperature, exposure to direct sunlight, salty water, vibrations, and environmental condensation. The marine vessels that are constantly exposed to such conditions require electronic devices, which can withstand such harsh conditions. This is expected to drive growth of the marine electronics market.

Electronic devices such as VHF radio systems and Digital Selective Calling (DSC) systems are used to facilitate ship to ship or ship to shore communication. This type of communication is useful, as alert signals can be given to the concerned officials in case of a technical snag or a problem, which is very important for safety and security of seafarers.

Marine Electronics Market: Regional Analysis

North America and Europe are the largest markets for marine electronic devices. North America and Europe largely invests in manufacturing of boats and also implements advanced technologies such as marine electronics in boats. This drives growth of the marine electronics market. According to a 2017 report of the International Trade Administration (ITA), the total U.S. exports of marine electronics is expected to grow by 5 percent annually and reach an estimated US$ 2.4 billion in 2018.

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Marine Electronics Market: Competitive Landscape

Key players operating in the global marine electronics market include Transas, Kongsberg Gruppen, Intellian, Honeywell Process Solutions, Johnson Outdoors Marine Electronics Inc. (Hummingbird), Atlas Electronics, FLIR Systems, Furuno electric, Garmin, Navico, Neptune Sonar, and Northrop Grumman.

Marine Electronics Market: Taxonomy

The global marine electronics market is segmented on the basis of end user, display type, system, and region as mentioned below:

• On the basis of end user

o Commercial shipping
o Work Boats
o Naval
o Fishing Vessels
o Recreational Boats

• On the basis of display type

o Multi-functional
o Instrumental

• On the basis of system

o Control System
o Monitoring System
o Navigational System
o Communication System

• On the basis of region

o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa

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This release was published on openPR.