Authored By: Sarah
20 Dec 2021

Marine Electronics Market Growth Analysis | Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA are among key contributors

Competitive Benchmarking and Vendor Forecasts for 2021-2025

Marine electronics market is set to post an incremental growth of $ 1.42 bn,  accelerating at a CAGR of over 5.04% during the forecast period. The market is fragmented. 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 participants in the market. This research report provides a detailed analysis of all the key players tracking recent and historic developments with respect to their market share and product portfolio. We also provide a pipeline analysis of upcoming developments and future growth opportunities. The growth of the vendors depends on several factors such as market conditions, government support, and industry development. 


Rely on our business insights to implement a COVID-19 Recovery Plan: Request for Free Sample Report


Marine Electronics Market Growth Analysis | Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA are among key contributors

Marine Electronics Market: Market Highlights

  • The Marine electronics market is segmented by Product (Sonar systems, Radars, and GPS tracking devices) and Geography (North America, APAC, Europe, South America, and MEA).
  • North America led the market with 43% of the market growth set to originate from this region during the forecast period.
  • Increase in adoption of GPS systems is one of the primary factors driving the growth of the marine electronics market. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For more insights on this market: Download a Free Sample Report

Key Focus Areas in Our Reports:

  • Market segments
  • Comparison by Product
  • Filleting and skinning equipment - Market size and forecast 2020-2025
  • De-heading and gutting equipment - Market size and forecast 2020-2025
  • Grading equipment - Market size and forecast 2020-2025
  • Scaling equipment - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Furuno Electric Co. Ltd.
  • Garmin Ltd.
  • Kongsberg Gruppen ASA
  • Navico
  • Northrop Grumman Corp.
  • Raytheon Technologies Corp.
  • Teledyne Technologies Inc.
  • Thales Group
  • thyssenkrupp AG
  • Ultra Electronics Holdings Plc

 

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market will accelerate at a CAGR of over 5.04%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 1.42 bn through 2021-2025.
     
  3. What is a key factor driving this market?
    Increase in adoption of GPS systems will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    43% growth will originate from North America
     
  6. Who are the leading market vendors?
    The leading vendors in this market are 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
     
  7. What are the market segments covered in this report?
    The market is segmented by Product (Sonar systems, Radars, and GPS tracking devices) and Geography (North America, APAC, Europe, South America, and MEA)

Marine Electronics Market Size to Grow by $ 927.70 mn During 2020-2024

Technavio has been monitoring the marine electronics market and it is expected to grow by $ 927.70 mn, accelerating at a CAGR of almost 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Marine Electronics Market: Receive Free Sample Report


Marine Electronics Market: North America to lead market growth during the forecast period

  • 42% of the market growth will originate from North America during the forecast period.
  • Developments in sas technology will be a key trend that will influence market growth significantly.
  • The Rise in seaborne trade will be a significant factor in driving the growth of the marine electronics market.

Marine Electronics Market Growth Analysis | Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA are among key contributors

Marine Electronics Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. FLIR Systems Inc., Furuno Electric Co. Ltd., Garmin Ltd., Kongsberg Gruppen ASA, Navico, Northrop Grumman Corp., Raytheon Co., Thales Group, thyssenkrupp AG, and Ultra Electronics Holdings Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Marine Electronics Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive marine electronics market growth during the next five years
  • Precise estimation of the marine electronics market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the marine electronics market industry across North America, APAC, Europe, MEA, and South America
  • A thorough 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
Read News Read Less
Interested in this report?
Get your sample now!
Technavio