Marine Radar Market Growth Analysis | Technologically advanced systems to drive growth

Trends, Drivers and Vendor Forecasts for 2022-2026

The marine radar market is expected to grow by $ 147.29 million, decelerating at a CAGR of almost 3.59% during the forecast period. The market is fragmented. This research report provides insights into the top market players and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in this intensely competitive market, players must distinguish their product and service offerings through a clear and unique value proposition. 

BAE Systems Plc, Dassault Aviation Group, General Dynamics Corp., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Saab AB, and Thales Group are some of the major market participants.

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Marine Radar Market: Market Segments and Key Trends

The Marine radar market is segmented by Application (Fishing vessel, Merchant vessel, Naval vessel, and Recreational vessel) and Geography (North America, Europe, APAC, South America, and MEA). North America led the market with 31% of the market growth set to originate from this region during the forecast period.

Adverse climatic conditions is one of the challenges that will need to be overcome to drive growth. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.

Marine Radar Market: Top Drivers and Trends to Boost Demand

Technologically advanced systems is one of the primary factors driving the growth of the marine radar market. Advanced radar systems are utilized for digital signal processing that can recover information from high noise levels. Radars are incorporated with a comprehensive array of marine equipment aboard commercial ships, including chart plotters, sonar, two-way marine radio, satellite navigation (GNSS) receivers such as the US global positioning system (GPS), and emergency locators (SART). Accidents at sea can be avoided with the use of ship radar by utilizing the radar's multiple intrinsic features (determining the CPA and the TCPA, EBL,  and VRM). 

The report provides a detailed study of all the factors that are likely to boost the market. 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 additional insights on this market: Download FREE Sample Report. 

Browse through our Related Market Research Report for further insights into the market:

Radar Simulator Market: Decelerating at a CAGR of 11.67%, the radar simulator market is expected to grow by post an incremental growth of $ 169.17 million over the next five years.

Key Focus Areas in Our Reports:

• Marine Radar Market Split by Application
  • Fishing vessel
  • Merchant vessel
  • Naval vessel
  • Recreational vessel
• Marine Radar Market Split by Geography
  • North America
  • Europe
  • APAC
  • South America
  • MEA

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

• BAE Systems Plc
• Dassault Aviation Group
• General Dynamics Corp.
• Honeywell International Inc.
• L3Harris Technologies Inc.
• Lockheed Martin Corp.
• Northrop Grumman Corp.
• Raytheon Technologies Corp.
• Saab AB
• Thales Group

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market will decelerate at a CAGR of 3.59%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by $ 147.29 mn through 2022-2026.
    
3. What is a key factor driving this market?
   Technologically advanced systems will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   31% growth will originate from North America
    
6. Who are the leading market vendors?
   The leading vendors in this market are BAE Systems Plc, Dassault Aviation Group, General Dynamics Corp., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Saab AB, and Thales Group
    
7. What are the market segments covered in this report?
   The market is segmented by Application (Fishing vessel, Merchant vessel, Naval vessel, and Recreational vessel) and Geography (North America, Europe, APAC, South America, and MEA)