Global Marine Electronics Market Expected to Grow at a CAGR of 6.5% during 2018- 2028

Published: Thu Oct 18 2018

Market Research Reports Search Engine (MRRSE) has included a new study titled "Marine Electronics Market: SEA Projected to Remain Prominent Regional Market throughout the Forecast Period: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028)", which discusses the overall market status for the marine electronics market by discoursing factors such as trends, innovations, opportunities and drivers. This assessment focuses on the market share acquired by prime regions, as well as global market size for the period between 2018 and 2028. According to market statistics, the revenue generated by the global marine electronics market is likely to deliver a single digit CAGR, and hence, acquire US$ 7.7 Bn by 2028.

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Marine electronics include electronic devices intended for the marine environment. These devices are known to be water-resistant in order to not get affected by salt water. Marine electronic devices comprise of marine VHF radios, autopilots, chart plotters, fish finders/sonars, gyrocompasses, radars, GPS, various audio & video devices and satellite TVs. Presently, the global market for marine electronics is driven due to mandatory government regulations, rising demand from the defense sector, swelling concern for safety and security, and growing level of globalization as well as ocean trade activities.

The research starts with the executive summary followed by market introduction and market background. This includes vital information associated to value chain, market dynamics and opportunity analysis. Furthermore, readers can learn about market size and Y-o-Y growth along with absolute $ opportunity. Considering the regional expanse, the South East Asia marine electronics market is projected to experience the highest growth across the global market. This advancement is as a result of increasing adoption of security & safety devices merged with huge investments put into the marine industry.

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The later section of the report splits the global marine electronics market on the basis of component type and application. Each of these segments are studied in terms of market value share analysis, historic market size (US$ Mn), current market size (US$ Mn) and market attractiveness analysis. The final section of the report delivers the competitive landscape to enlighten the clients with a precise insight of the marine electronics market categorized by providers in the value chain. Some of the prime manufacturers mentioned in the report are Furuno Electric Co., Ltd., Garmin Ltd., Navico Holding AS, Northrop Grumman Corporation (Sperry Marine), FLIR Systems, Inc., Japan Radio Co., Ltd., Raytheon Company, Tokyo Keiki Inc., Wartsila SAM Electronics GmbH, Kongsberg Maritime, Neptune Sonar Limited, Saab AB, Icom Inc., ATLAS ELEKTRONIK Group and Elcome International LLC. A detailed profile of each of these providers is included to evaluate their long-term and short-term plans, recent developments and key offerings.

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