Press release
Global Ship Radar Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2027
The global ship radar market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). The major factor that is fuelling the global ship radar market includes the rise in the inclusion of advanced marine radar systems, to fulfil the surge in demand for weapon guidance application as well as navigation purposes at sea in the military and defense sector.The marine radar system is an electromagnetic ranging and detection system that uses rotating antennae to sweep a narrow beam of microwaves around the water surface surrounding a ship to the horizon and detects targets by reflected microwaves, hence displaying surroundings on a display screen. These systems provide bearing as well as the distance for navigation and collision avoidance at sea as they offer high accuracy, precision, and can detect moving and stationary objects in dense climatic conditions such as rain or fog.
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Moreover, the other factors that drive the market growth include the adoption of marine radars in cruise ships and luxury boats to avoid collisions during marine tourism as well as a rise in international trade, which further boosts the market demand. Ongoing technological advancements to enhance the range of existing radar systems as well as government regulations regarding mandatory installation of marine radar systems in vessels and boats are anticipated to pave new avenues to the industry.
The global ship radar market analysis includes some of the key market players such as Lockheed Martin Corp., Rockwell Collins, BAE Systems, Kelvin Hughes Ltd., Raymarine Inc., and Furuno Electric Co. Ltd., among others. To maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
Recent Development-
In April 2019, Wartsila, a global leader in marine technology launched RS-24 high-resolution radar, the first commercial K-band maritime radar that can detect small objects at a far distance at high resolution. RS24 provides safety in busy shipping lanes and congested ports as it enables large ships to view small vessels or other potential hazards near them.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered
· Regions Covered- Globally
· Competitive Landscape: Lockheed Martin Corp., Rockwell Collins, BAE Systems, Kelvin Hughes Ltd., Raymarine Inc., and Furuno Electric Co. Ltd., among others.
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Global Ship Radar Market by Segment
By Product Type
• S-Band
• X-Band
• Others
By Application
• Fishing Vessel
• Recreational Boat
• Merchant Marine
• Others
Global Ship Radar Market by Regional Analysis
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
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Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
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About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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