Press release
Marine Navigation Systems Market 2018 Key Players: Icom America, Simrad, Consilium, Kongsberg Maritime, Northrop Grumman
Description:
Marine Navigation Systems -Global Market Status and Trend Report 2018-2021 offers a comprehensive analysis on Marine Navigation Systems industry, standing on the readers’ perspective, delivering detailed market data and penetrating insights. No matter the client is industry insider, potential entrant or investor, the report will provides useful data and information.
Geographically, the global marine navigation system market has been divided as North America, Asia Pacific, Europe, South America and MEA. Among these regions, North America has accounted the largest market share of 30% in 2016 in terms of revenue. Asia Pacific is the second largest market with the highest CAGR. North America is said to be the major market for marine navigation system owing to the presence of a large number of manufacturers. Additionally, the upgradation of technology, and rising demand for commercial voyage, are expected to create a lucrative opportunities for the market. U.S. is one of the matured economies that have invested a large amount of money on marine activities. Asia Pacific is the second leading region, in terms of revenue. Emerging economies, dominance of China, and technological advancements are the major driving factors.
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Key Players
The major players operating in global marine navigation system market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are Teledyne Marine, Icom America, Simrad, Consilium, Kongsberg Maritime, Northrop Grumman, SevenCs, QPS (SAAB), Raytheon Anschuetz and Tresco.
As per MRFR analysis, the global Marine Navigation System Market has seen a significant growth in the last couple of years and it has been observed that, the market will remain in the growing phase till forecast period. This market was valued at USD 1,370.47 million in 2016, and is expected to reach USD 1,927.97 million by 2022 with the CAGR of 5.85%.
For this study, the global marine navigation system market has been segmented, based on types and applications.
On the basis of type, the market has been segmented as chartplotter, weather satellite system and radar. Among these types, chartplotter has accounted the largest market share of 48.54%, in 2016, followed by radar and weather satellite system. The growing demand for chartplotter in marine navigation system, has pushed the market growth.
On the basis of application, the market has been segmented as commercial and military. Among these, military application has registered the largest market share in 2016. The increasing investment on marine industry, has fueled the demand for navigation systems.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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