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The increase in adoption of GPS systems, growth in focus on improving marine transportation safety, and rise in seaborne trade will offer immense growth opportunities. However, factors such as the high cost associated with sonar systems may threaten the growth of the market.
Marine Electronics Market 2021-2025: Scope
The report also covers the following areas:
Marine Electronics Market 2021-2025: Segmentation
- Product
- Sonar Systems
- Radars
- GPS Tracking Devices
- Geography
- North America
- APAC
- Europe
- South America
- MEA
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Marine Electronics Market 2021-2025: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA, Navico, Northrop Grumman Corp., Raytheon Technologies Corp., Teledyne Technologies Inc., Thales Group, thyssenkrupp AG, and Ultra Electronics Holdings Plc are some of the major marine electronics market participants. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Marine Electronics Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist marine electronics market growth during the next five years
- Estimation of the marine electronics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the marine electronics market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of marine electronics market vendors
Related Reports:
Sound Navigation and Ranging (SONAR) System Market by Type, Application, and Geography - Forecast and Analysis 2021-2025
GPS Tracker Market by End-user and Geography - Forecast and Analysis 2020-2024
Marine Electronics Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.04% |
Market growth 2021-2025 |
USD 1.42 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.42 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, China, Canada, Germany, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA, Navico, Northrop Grumman Corp., Raytheon Technologies Corp., Teledyne Technologies Inc., Thales Group, thyssenkrupp AG, and Ultra Electronics Holdings Plc |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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