Marine Electronics Market Forecast Signals Strong Tech Adoption by 2030

Marine electronics market size was US$ 6.06 Bn in 2023 and is expected to reach US$ 8.53 Bn by 2030, at a CAGR of 5% during the forecast period.

marine electronics market Overview:

Marine electronics comprise weatherproof systems deployed on vessels for navigation, communication, safety, and infotainment. This market includes radar, sonar, GPS/chart systems, AIS, autopilots, and entertainment modules. From commercial shipping to leisure yachting, these devices enhance situational awareness and operational control onboard ships. Recent years have seen steady demand from both professional maritime operators and recreational users.

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marine electronics market Outlook and Future Trends :

The marine electronics market is forecast to grow steadily in the coming decade, fueled by increasing maritime trade, growth in leisure boating, and regulatory mandates requiring updated electronic systems onboard. Emerging technologies like the Internet of Things (IoT), artificial intelligence, augmented reality, and enhanced connectivity-often via satellite or hybrid LEO/UAV networks-are enabling more responsive, efficient, and data-rich vessel operations. Additionally, global trends toward autonomous and hybrid-electric vessels are creating new opportunities for integrated control and sensor solutions.

marine electronics market Dynamics:

Key drivers include rising safety regulations and the need for environmental compliance, prompting ships to upgrade navigation, communication, and detection systems. Technological innovation, including IoT-enabled real-time monitoring, predictive maintenance, and AI assisted route optimization, is steadily raising the bar. Meanwhile, demand is being spurred by strengthened commercial and recreational shipping sectors. On the flip side, challenges persist: high upfront equipment and retrofit costs, compatibility issues across legacy systems, and harsh marine conditions impacting durability. Cybersecurity vulnerabilities in connected systems also pose emerging risks for the industry.

marine electronics market Key Recent Developments:

Product innovation is accelerating-companies are introducing radar, autopilot, and switching systems with greater automation and vessel integration. For example, several leading firms recently launched digital switching platforms that centralize control via multifunction displays. There's increasing collaboration between marine electronics makers and autonomous vessel tech providers to develop integrated sensing and control systems. LiDAR is being employed more for depth mapping and obstacle detection, and augmented/virtual reality is finding use in navigational displays and crew simulation training.

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marine electronics market Segmentation:

by Component

Hardware
Software

by Application

Multifunctional Navigations
GPS and Radar Systems
Very High Frequency communication systems
SONAR systems
Marine Autopilot
Thermal & Security Cameras
Lighting appliances

by Industry

Defense
Merchant Navy
Fishing
Sports and Cruise

Some of the current players in the marine electronics market are:

1. Atlas Elektronik GmbH
2. FLIR Systems Inc
3. Furuno Electric Co. Ltd
4. Garmin International
5. Ultra Electronics
6. Thales Group
7. Northrop Grumman Corporation
8. Navico
9. Neptune Sonar
10. Johnson Outdoors
11. A+T Instruments
12. Raymarine
13. Simrad
14. Japan Radio Company
15. Raytheon Company
16. Sound Metrics
17. Wartsila SAM Electronics GmbH
18. Kongsberg Maritime
19. Tokyo Keiki Inc
20. B&G

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