Marine Radar Market Research Report: Overview With Geographical Segmentation By Revenue With Forecast 2031

Marine radar is a device that sends out small bursts of electromagnetic waves when the waves are received back, helping to identify a range, angle, or speed of targets. Marine radar provide advantages for navigation and collision avoidance in the sea. They detect the stationary as well as moving object even at the time of bad weather or climate, which helps in avoiding accident. Marine radar also becomes useful at the time of war as it is capable to keep track of enemy ships.

Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-4258

According to FMI, X-Band radar holds significant share in the market. It is also used in a wide range of applications including merchant marine, fishing vessels, yacht/recreational and military/ naval. Technology advancement and growing demand for progressive intrusion detection systems are underpinning the market growth. FMI has projected the market’s valuation to reach US$ 971 Mn by the end of 2031.

Key Takeaways of Marine Radar Market Study
• The global marine radar market is projected to expand at a CAGR of ~2.4% by during the forecast period of 2021-2031
• The U.S. will remain a key pocket for sales, accounting for over 90% of the North America Market based on value in 2021
• Slump in growth is likely in the U.K. following the pandemic outbreak in 2020. FMI projects the market to record -0.5% Y-o-Y growth in 2021. However, recovery is on cards 2022 onwards
• Germany will remain a bright spot for sales in Europe, while negative growth is likely in France as well
• After sluggish return in 2020, sales in both Japan and South Korea market are likely to improve

For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-4258

Key Players:
The global marine radar market is equally integrated at global and regional levels. Some of the leading players included in the report are FURUNO ELECTRIC CO., LTD., Northrop Grumman Corporation, Lockheed Martin Corporation, Saab AB, Japan Radio Co. Ltd., BAE Systems, JRC (Alphatron Marine), and Garmin, Raytheon Company, Wärtsilä SAM Electronics Gmbh, Transas Marine International AB and others. To gain competitive advantage in the market, market participants are involved in acquisition activities expansion, merger, and expansion with regards to excessive market growth.

Request a Complete TOC of this Report with figures:
https://www.futuremarketinsights.com/toc/rep-gb-4258

By Segmentation:
Product Type
• X Band Radars
• S Band Radars
Application
• Merchant Marine
• Fishing Vessels
• Yacht/Recreational
• Military/Naval
Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

Contact Us
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44(0)20-7692-8790

For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

This release was published on openPR.