Marine Electronics Market: Market Size, Trends and Growth Analysis

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The future of the global marine electronics market looks promising with opportunities in the defense, merchant navy, fishing and sports and cruise segments. The global marine electronics market is expected to grow with a CAGR of xx%-xx% from 2021 to 2026. The major drivers for this market are rapidly growing market for marine and industrial electronic products, increasing applications of navigation, and rising adoption of vessel management system.

Emerging trends, which have a direct impact on the dynamics of the industry, include growth of marine international trade, expansion of naval forces in developing economies and rise in usage of water or airways for travelling or good transport.

A total of 130 figures / charts and 104 tables are provided in this more than 150 page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global marine electronics market report, please download the report brochure.

The study includes a forecast for the global marine electronics market by component, application, industry and region, as follows:

By Component [Value ($ Million) from 2015 to 2026]:

Hardware
Software

By Application [Value ($ Million) from 2015 to 2026]:

Hardware
Multifunctional Navigations
GPS and Radar Systems
Very High Frequency communication systems
SONAR systems
Marine Autopilot
Thermal & Security Cameras
Lighting appliances

By Industry [Value ($ Million) from 2015 to 2026]:

Defense
Merchant Navy
Fishing
Sports and Cruise

By Region [Value ($ Million) from 2015 to 2026]:

North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
APAC
China
India
Japan
ROW
Middle East
Brazil

Some of the marine electronics companies profiled in this report include Atlas Elektronik GmbH, FLIR Systems Inc., Furuno Electric Co. Ltd, Garmin International, Ultra Electronics, Thales Group, Northrop Grumman Corporation, Raytheon Company, Tokyo Keiki Inc., and Wartsila SAM Electronics GmbH.

Lucintel forecasts that hardware will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing adoption GPS systems by marine vessels and advanced applications of electronic hardware that had increased the demand for marine electronic systems.

Within the global marine electronics market, the multifunctional navigation segment is expected to witness the highest growth over the forecast period due to the increasing adoption of marine navigation and communication electronics equipment to improve marine communication, and to control and monitor the movement of marine ships.

APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to the rising ship exports and shipment activities via waterways, the massive presence of ports and ongoing investment by the private and government sector in marine industry.

Features of the Global Marine electronics Market

Market Size Estimates: Global marine electronics market size estimation in terms of value ($M) shipment.
Trend and Forecast Analysis: Market trends (2015-2021) and forecast (2021-2026) by various segments.
Segmentation Analysis: Global marine electronics market size by various segments, such as by component, application and industry use in terms of value.
Regional Analysis: Global marine electronics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different by component, application, industry and regions for the global marine electronics market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global marine electronics market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

This report answers following 11 key questions

Q.1 What are some of the most promising growth opportunities for the global marine electronics market by component (hardware and software), application (Multifunctional Navigations, GPS and Radar Systems, Very High Frequency communication systems, SONAR systems, Marine Autopilot, Thermal & Security Cameras, Lighting appliances), industry (defense, merchant navy, fishing and sports and cruise) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M & A activity has occurred in the last five years?

Report Scope

Key Features	Description
Base Year for Estimation	2021
Trend Period (Actual Estimates)	2015-2021
Forecast Period	2021-2026
Pages	210
Market Representation / Units	Revenue in US $ Million
Regional Scope	North America (USA, Mexico, and Canada), Europe (Germany and United Kingdom), Asia (China, Japan, and India), and ROW (Middle East and Brazil)
Report Coverage	Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger, Acquisitions & Joint Venture, and Company Profiling
Market segments	Component (Hardware and Software), Application (Multifunctional Navigations, GPS and Radar Systems, Very High Frequency Communication Systems, Sonar Systems, Marine Autopilot, Thermal & Security Cameras, Lighting Appliances), Industry (Defense, Merchant Navy, Fishing And Sports And Cruise)
Customization	10% Customization without Any Additional Cost

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Table of Contents

1. Executive Summary

2. Market Background and Classifications

2.1: Introduction, Background, and Classifications

2.2: Supply Chain

2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2015 to 2026

3.1: Macroeconomic Trends and Forecast

3.2: Global Marine electronics Market Trends and Forecast

3.3: Global Marine electronics Market by Component

3.3.1: Hardware

3.3.2: Software

3.4: Global Marine electronics Market by Application

3.4.1: Multifunctional Navigations

3.4.2: GPS and Radar Systems

3.4.3: Very High Frequency Communication Systems

3.4.4: Sonar Systems

3.4.5: Marine Autopilot

3.4.6: Thermal & Security Cameras

3.4.7: Lighting Appliances

3.5: Global Marine electronics Market by Industry

3.5.1: Defense

3.5.2: Merchant Navy

3.5.3: Fishing

3.5.3: Sports and Cruise

4. Market Trends and Forecast Analysis by Region

4.1: Global Marine electronics Market by Region

4.2: North American Marine electronics Market

4.2.1: Market by Component: Hardware and Software

4.2.2: Market by Application: Multifunctional Navigations, GPS and Radar Systems, Very High Frequency Communication Systems, Sonar Systems, Marine Autopilot, Thermal & Security Cameras, Lighting Appliances

4.2.3: Market by Industry: Defense, Merchant Navy, Fishing And Sports And Cruise

4.2.4: The US Marine electronics Market

4.2.5: Canadian Marine electronics Market

4.2.6: Mexican Marine electronics Market

4.3: European Marine electronics Market

4.3.1: Market by Component: Hardware and Software

4.3.2: Market by Application: Multifunctional Navigations, GPS and Radar Systems, Very High Frequency Communication Systems, Sonar Systems, Marine Autopilot, Thermal & Security Cameras, Lighting Appliances

4.3.3: Market by Industry: Defense, Merchant Navy, Fishing And Sports And Cruise

4.3.4: Marine electronics Market of the United Kingdom

4.3.5: German Marine electronics Market

4.4: APAC Marine electronics Market

4.4.1: Market by Component: Hardware and Software

4.4.2: Market by Application: Multifunctional Navigations, GPS and Radar Systems, Very High Frequency Communication Systems, Sonar Systems, Marine Autopilot, Thermal & Security Cameras, Lighting Appliances

4.4.3: Market by Industry: Defense, Merchant Navy, Fishing And Sports And Cruise

4.4.4: Chinese Marine electronics Market

4.4.5: Japanese Marine electronics Market

4.4.6: Indian Marine electronics Market

4.5: ROW Marine electronics Market

4.5.1: Market by Component: Hardware and Software

4.5.2: Market by Application: Multifunctional Navigations, GPS and Radar Systems, Very High Frequency Communication Systems, Sonar Systems, Marine Autopilot, Thermal & Security Cameras, Lighting Appliances

4.5.3: Market by Industry: Defense, Merchant Navy, Fishing And Sports And Cruise

4.5.4: Middle Eastern Marine electronics Market

4.5.5: Brazilian Marine electronics Market

5. Competitor Analysis

5.1: Product Portfolio Analysis

5.2: Market Share Analysis

5.3: Operational Integration

5.4: Geographical Reach

5.5: Porter’s Five Forces Analysis

6. Cost Structure Analysis

6.1: Raw Material Cost

6.2: Other Expenses

6.3: COGS

6.4: SG&A

6.5: EBITDA Margin

7. Growth Opportunities and Strategic Analysis

7.1: Growth Opportunity Analysis

7.1.1: Growth Opportunities for the Global Marine electronics Market by component

7.1.2: Growth Opportunities for the Global Marine electronics Market by Application

7.1.3: Growth Opportunities for the Global Marine electronics Market by Industry

7.1.4: Growth Opportunities for the Global Marine electronicsMarket by Region

7.2: Emerging Trends in the Global Marine electronics Market

7.3: Strategic Analysis

7.3.1: New Product Development

7.3.2: Capacity Expansion of the Global Marine electronics Market

7.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Marine electronics Market

7.3.4: Certification and Licensing

8. Company Profiles of Leading Players

8.1: Atlas Elektronik GmbH

8.2: FLIR Systems Inc

8.3: Furuno Electric Co. Ltd

8.4: Garmin International

8.5: Ultra Electronics

8.6: Thales Group

8.7: Northrop Grumman Corporation

8.8: Raytheon Company

8.9: Tokyo Keiki Inc

8.10: Wartsila SAM Electronics GmbH

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:

In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.

Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.

Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.

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