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Marine Electronics Market to Register 5.3% CAGR from 2025 to 2031 Amid Tech Advancements
Marine Electronics Market
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Industry leaders such as FLIR Systems, Inc., Furuno Electric Co., Ltd., Garmin Ltd., Icom Inc., Japan Radio Co., Ltd., Kongsberg Maritime, Navico, Northrop Grumman Sperry Marine B.V., and SRT Marine Systems plc are at the forefront, delivering products like GPS and radar systems, SONAR modules, communication devices, autonomous identification systems, thermal and visible cameras, multi-function navigation displays, and other specialized equipment.
These advancements align with stringent international regulations from the International Maritime Organization (IMO), including SOLAS updates that mandate enhanced safety features in marine electronics.
Recent Industry Developments
• Recent updates highlight the dynamic nature of the marine electronics market. In December 2024, Raymarine advanced its open-ecosystem strategy through integrations with WATCHIT, Maretron, and CMC Marine, streamlining compatibility for vessel operators worldwide.
• Garmin Ltd. partnered with satellite data providers in 2024 to bolster remote navigation capabilities, significantly enhancing its position in the navigation systems segment.
• Furuno Electric expanded its offerings with AI-based sonar technology in late 2023, improving detection in tough marine conditions and supporting fishing vessels and offshore operations.
• Additionally, in August 2024, Honeywell introduced its Emissions Management Suite, now certified for hazardous locations and marine use, aiding offshore oil and gas assets in emissions monitoring.
• Simrad Marine Electronics launched FishCast® powered by Roffs in 2025, an AI-driven platform for fishing intelligence that optimizes routes and predicts catches using real-time data.
• These developments underscore a shift toward integrated, AI-enhanced marine electronics that prioritize efficiency, cybersecurity, and sustainability.
Market Segments Overview
The marine electronics market segments into key product types and applications, catering to diverse needs.
By Product Type:
• GPS and Radar Systems: Critical for precise positioning and obstacle detection in all weather conditions.
• SONAR Modules: Essential for underwater mapping and fishfinding in commercial fishing.
• Communication Devices: Enable reliable VHF, satellite, and IoT connectivity for crew coordination.
• Autonomous Identification Systems (AIS): Vital for collision avoidance and vessel tracking.
• Thermal and Visible Cameras: Provide enhanced visibility for surveillance and navigation.
• Multi-function Navigation: Integrate multiple displays for streamlined bridge operations.
• Others: Include autopilots and sensors for specialized uses.
By Application:
• Merchant Marine: Supports global trade with robust navigation and monitoring.
• Fishing Vessel: Leverages sonar and fishfinders for improved yields.
• Yachts/Recreation: Focuses on user-friendly interfaces and entertainment features.
• Military Naval: Demands secure, high-performance systems for defense.
• Others: Covers offshore support and research vessels.
Navigation systems lead due to regulatory demands, while automation grows fastest amid crew shortages and efficiency needs.
Market Size, Share, Trends, Analysis, and Forecast by 2031
• Global Market Size and Share: The marine electronics market holds substantial value, with hardware dominating share due to mandatory installations like radar and ECDIS; services are gaining as operators shift to subscription-based predictive maintenance and software updates.
• Key Trends: Integration of AI, IoT, and satellite connectivity drives real-time monitoring; emphasis on cybersecurity per IACS UR E26 standards; rise in automation for fuel efficiency and autonomous vessels.
• Global Analysis: Asia-Pacific leads with rapid shipbuilding and trade growth; North America excels in recreational and defense adoption; Europe focuses on emissions compliance.
• Regional Highlights:
• North America: Over 35% share from recreational boating and U.S. Coast Guard rules.
• Asia-Pacific: Fastest growth via port expansions in China and India.
• Europe: Pushed by FuelEU Maritime and green tech mandates.
• Forecast to 2031: Steady expansion expected with a consistent CAGR trajectory, fueled by digital transformation, electrification of small craft, and insurer-mandated AI awareness systems; autonomous tech and 5G will reshape operations by decade's end.
Strategic Innovations by Market Leaders
• FLIR Systems, Inc. excels in thermal imaging for low-light navigation, enhancing safety for military and commercial fleets.
• Furuno Electric Co., Ltd. pioneers cyber-secure NavNet platforms with Panasonic, ahead of IMO cyber rules.
• Garmin Ltd. integrates lighting and telemetry into OneHelm, reducing installation time for yacht owners.
• Kongsberg Maritime supplies reliable broadband for uncrewed vessels, leveraging defense expertise.
• Navico and Northrop Grumman focus on multifunction displays and secure naval systems, respectively.
These companies emphasize ecosystems that combine hardware with software for seamless upgrades.
The marine electronics market thrives on collaboration and innovation, promising safer seas and smarter vessels through 2031. For more insights, connect with industry experts.
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