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Marine Steering Systems Market Poised to Garner Maximum Revenues During 2017-2027

01-31-2018 12:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Marine Steering Systems Market Poised to Garner Maximum

Marine Steering Systems Market: Introduction

Marine steering systems are as important as the propellers in any ship or submarine. As the propellers are useful for giving thrust and motion to the giant ships, marine steering systems make the ships/submarines change their course or direction as and when required. When a ship is made to steer at the left hand side it is called as, “turning to the port side” and when it is made to steer to the right, it is called as, “turning to the starboard side”. The main components in a typical Marine steering system are telemotor, control unit and power unit.

These being the prime components of a marine steering system, are coupled with rudders which actually gets the job done for the sailor or helmsman. This system works in this way: The steering unit consists of a telemotor which has a transmitter which the steering wheel. This wheel when turned, signals to the receiver mounted in the steering gear compartment and the signals are shared with the control unit which further commands the prime mover i.e. the power unit to operate the rudders. A negative signal is needed from the rudder through hunting gear to cut off the power unit. This is how the steering gear mechanism in Marine steering systems work.

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The marine steering systems are available widely in three formats. Hydraulic, electric and mechanical steering systems. Although, some ships use semi-electric steering gear mechanisms. The marine steering systems are extensively used in boats, ships and submarines. There’s a huge need for the steering systems in marine applications. Although the systems available are efficient enough and self-steering gears are being developed, there’s a scope for improvisation in the field of navigation. A smarter system which can implement the usage of GPS and steer automatically as per the route decided.

Marine Steering Systems Market: Market Dynamics

Marine steering systems are mandatory for any marine vehicle. Be it a motor boat, ship, cruise, or a submarine. Most of the heavy and large shipments are preferred to be transported by sea routes rather than air as it is far cheaper in this way. Cruise tourism is growing all around the world and this certainly counts to the growing market for marine equipment. Additionally, the investments in marine defense systems around the world are also pleasing markets for the marine steering systems manufacturers as each year, the governments of various nations fund their navies to add new ships to their fleet. These factors can be considered as the marine steering systems market drivers and the tourism part as a growing market trend. A major contribution to the marine vehicles industry is made by merchant navies, coast guards and the naval forces of the world. The boats and cruises are employed mainly for tourism purposes. Each year, the ships and submarines with all the navies across the world need maintenance and new fleets are being introduces by various nations. This certainly call for a huge market for the marine steering systems market.

The growing B2B communications across various countries around the world have increased the rate of imports and exports through the years and the same is expected to increase in the years coming. This has promoted the growth of marine transportation thereby increasing the scope for more advanced and better marine steering systems as the things need to reach places more quickly. As the application of marine steering systems has increased, the maintenance of the same has also raised which gives a call to a better market. But, there are certain restraints accounting to the loss of revenue in the case of conventional marine steering system manufacturers. With the growing market for smart steering systems, the mechanical and hydraulic steering systems are at loss.

Marine Steering Systems Market: Segmentation

The marine steering systems are classified as follows:

On the basis of product type, global marine steering systems market can be segmented as:

Ram Type Steering System
Rotary vane Type Steering System

On the basis of application, global marine steering systems market can be segmented as:

Hydraulic Steering Systems
Electric Steering Systems
Mechanical Steering Systems
Semi-Electric Steering Systems

On the basis of means of steering, global marine steering systems market can be segmented as:

Manual (Full-followup)
NFU (Non-Followup)

On the basis of end-user, global marine steering systems market can be segmented as:

Naval Vessels
Coast Guard Vessels
Cargo Ships
Maritime Transport

Marine Steering Systems Market: Regional Outlook

The main regions which play an important role in developing scope for the upcoming market trends are those which have reasonable sea ports and water bodies. Such regions are mainly in APAC, Parts of South America, Middle East, ANZ and Western Europe including Scandinavian countries. Among the nations worldwide, China has the most number of busiest sea ports for cargos. China can be considered as a very prominent market for the sales and maintenance of marine steering systems. Along with China, Singapore and Hong Kong also show competitive sea trade numbers followed by UAE.

The top navies of the world namely, U.S. Navy with 480 marine vehicles including 288 warships and 72 submarines, Chinese Navy with 129 marine vehicles, Russia with 144 of them, Royal Navy with 91 marine equipment along with India with 89 marine equipment project to be potential markets for the marine steering systems. Fisheries and maritime transport around the world also show the same trend either by replacing the parts or entire ships.

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Marine Steering Systems Market: Key Players

SeaStar Solutions
S.A.P Supplies
Mercury Marine
West Marine
Bosch Rexroth
Wills Ridley Ltd

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, an aerial view of the competitive framework, and future market trends.

Future Market Insights
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