Marine Electronics Market Size, Share, Comprehensive Research Study, Business Growth, Competitive Landscape, Future Plans and Trends by Forecast to 2023

Global Marine Electronics Market: Information by Component type (hardware, software), Vessel Type (Merchant Vessels, Fishing Vessels, Naval Vessels, Recreational Boats, Others), Application (Navigation, Communication, Automation, Others), Region—Forecast till 2023

Pune, India - August 14, 2019 /MarketersMedia/ —

The global marine electronics market is expected to exhibit a strong CAGR of more than 5% over the forecast period between 2018 and 2023, according to the latest research report from Market Research Future (MRFR). The major drivers for the global marine electronics market include the increasing volume of marine trade and the increasing demand for secure navigation and communication systems from the military sector.

Competitive Analysis:

Leading players in the global marine electronics market include Wartsila SAM Electronics GmbH, Tokyo Keiki Inc., Raytheon Company, Northrop Grumman Corporation, Thales Group, Ultra Electronics, Garmin International, Furuno Electric Co. Ltd., FLIR Systems Inc., and Atlas Elektronik GmbH.

Request for Free Sample Pages:
https://www.marketresearchfuture.com/sample_request/6881

In June 2019, the Independent Boat Builders Inc. (IBBI) announced that Garmin’s Fusion brand of marine entertainment products has been selected as IBBI’s official supplier through 2024.

Segmentation:

The global marine electronics market has been segmented by component type, vessel type, application, and region.

On the basis of component type, the market has been divided into hardware and software. The hardware segment is the leading revenue generator in the global marine electronics market, mainly due to the widespread demand for GPS units in boats.

By vessel type, the market has been segmented into merchant vessels, fishing vessels, naval vessels, recreational boats, and others. Naval vessels are likely to remain the most important customer segment for the marine electronics market over the forecast period.

On the basis of application, the market has been segmented into navigation, communication, automation, and others. Navigation is the leading revenue generation channel for the global marine electronics market.

Regional Analysis:

The global marine electronics market is expected to be led by Asia Pacific over the forecast period, as the growing shipbuilding industry in Asia Pacific has led to a growing demand from the marine electronics industry in recent years. The increasing shipbuilding activities in China, India, Japan, and several Southeast Asian countries are likely to drive the marine electronics market in the region over the forecast period. China’s increasing ambitions to establish naval superiority in the Pacific as well as the Indian Ocean are likely to drive shipbuilding activities in the region, as well as increasing efforts to install the latest technologies to make the ships more capable and more in line with modern needs. This is likely to be a major driver for the marine electronics market in Asia Pacific over the forecast period.

The strong presence of electronics industry giants in China, Japan, and South Korea is also likely to be a major driver for the marine electronics market in the region over the forecast period. Increasing state sponsorship to the development of capable marine electronic systems is likely to be a major driver for the marine electronics market in Asia Pacific over the forecast period. The increasing demand for private yachts and other chartered boats in the region is also likely to be a major driver for the marine electronics market. The increasing number of high net worth and ultra-high net worth individuals in Asia Pacific is likely to drive the demand for luxury cruise boats and other forms of premium seaborne entertainment, driving the demand from the marine electronics market in the region.

North America is likely to exhibit the highest growth rate over the forecast period due to the growing demand for unmanned underwater vehicles and anti-submarine technology in the region. The increasing emphasis on automation in the U.S. armed forces has led to an increased dependence on marine electronics, which is likely to drive the market in North America at a robust growth rate over the forecast period.

Europe is also likely to remain a key player in the global marine electronics market over the forecast period due to the increasing marine trade, especially through the Mediterranean and Sea of Marmara. The strong presence of marine technology developers in Europe is also likely to help the marine electronics market in Europe extend its reach over the forecast period.

Access Full Summary of Report:
https://www.marketresearchfuture.com/reports/marine-electronics-market-6881

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.

The MRFR team has the supreme objective to provide optimum quality market research and intelligence services to our clients.

Contact Info:
Name: Market Research Future
Email: Send Email
Organization: Market Research Future
Address: Office No. 528, Amanora Chambers Pune - 411028 Maharashtra, India
Phone: +1 628 258 0071
Website: https://www.marketresearchfuture.com/reports/marine-electronics-market-6881

Source URL: https://marketersmedia.com/marine-electronics-market-size-share-comprehensive-research-study-business-growth-competitive-landscape-future-plans-and-trends-by-forecast-to-2023/88908183

Source: MarketersMedia

Release ID: 88908183

Latest News

Harvey Weinstein wants to move trial out of NYC

Aug 21, 2019

NEW YORK — A lawyer for Harvey Weinstein has asked that the disgraced movie mogul's upcoming criminal trial be moved out of New York City, saying he can't get a fair trial. In a longshot motion filed with the state appellate court on Friday, attorney Arthur Aidala suggested the trial be moved to upstate Albany County or Suffolk County on Long Island. Aidala cited the intense media coverage and the circuslike atmosphere surrounding Weinstein's past court appearances in Manhattan. The 67-year-old Weinstein is charged with raping a woman in 2013 and performing a forcible sex act on a different woman...

Cowboys' Elliott won't face criminal charge in Vegas scuffle

Aug 21, 2019

LAS VEGAS — Dallas Cowboys star running back Ezekiel Elliott won't face criminal charges after scuffling with a music festival security guard in Las Vegas. Prosecutor Steve Wolfson said Tuesday the findings of a police investigation "lacked prosecutorial merit." The NFL said last month that Elliott didn't violate league personal conduct rules and wouldn't face suspension. Elliott was handcuffed but not arrested after police said he pushed a security guard to the ground at the event last May at Las Vegas Motor Speedway. Cellphone video obtained by celebrity website TMZ showed an event staffer stumbling over a parking barrier after...

Paul Simon plants a tree at Hawaii forest preserve on Maui

Aug 21, 2019

AUWAHI, Hawaii — Musician Paul Simon joined environmentalists trying to reinvigorate a Hawaii forest on Maui and planted a tree during a ceremony, a report said. The singer-songwriter visited Auwahi Forest Restoration Project with volunteers who are trying to revive plant life in the area, The Honolulu Star-Advertiser reported Friday. Simon helped plant a lama tree and participated in chants with the group after a helicopter tour that he called "awe-inspiring" and "life-changing." Simon inserted the plant and a scroll into a hole before refilling the soil and speaking with group members. "To even sit with you guys and be...

Real Madrid opens Spanish league with 3-1 win over Celta

Aug 21, 2019

MADRID — Karim Benzema scored a goal and set up another as Real Madrid began its Spanish league campaign with a comfortable 3-1 win at Celta Vigo on Saturday. Toni Kroos and Lucas Vázquez also scored, as Madrid played most of the second half with 10 men following a red card to Luka Modric. Madrid was without new signing Eden Hazard because of an injury, and it was Gareth Bale — who many thought would be gone from the squad by now — who helped add the spark Madrid needed in attack. He set up Benzema's opening goal early in...

Without Messi, Barcelona loses 1st league opener in 10 years

Aug 21, 2019

MADRID — Barcelona lost its opening Spanish league match for the first time in a decade on Friday, falling at Athletic Bilbao 1-0 as Antoine Griezmann couldn't make up for Lionel Messi's absence. Veteran striker Aritz Aduriz scored from a spectacular overhead kick a minute after coming off the bench in the 88th minute, handing Barcelona the loss after 10 straight opening league wins. Griezmann, Barcelona's biggest offseason signing, was held scoreless in his competitive debut after joining from rival Atlético Madrid for 120 million euros ($133 million). It was a lackluster performance for the France forward whose only significant...

About Us

E-Stardom is the exclusive online news network for breaking entertainment news. We bring to you the premium coverage and fashion tips to your favorite celebrity style. Get your daily celebrity news fix only here in E-Stardom.

Contact us: sales[at]e-stardom.com

Subscribe Now!