Global Marine Radar Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

X Band and S Band.

By Application;

Fishing Vessel, Merchant Marine, Military Naval and Recreational Boat.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn472217703 Published Date: April, 2024 Updated Date: May, 2024

Introduction

Global Marine Radar Market (USD Million), 2020 - 2030

In the year 2023, the Global Marine Radar Market was valued at USD 919.43 million. The size of this market is expected to increase to USD 1,130.78 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 3.0%.

The Global Marine Radar Market plays a pivotal role in ensuring maritime safety and navigation efficiency across the world's oceans, rivers, and waterways. Marine radar systems serve as essential tools for detecting other vessels, landmasses, and potential hazards in varying weather conditions and visibility levels, enabling ships to navigate safely and avoid collisions. As a crucial component of onboard navigation equipment, marine radar systems are utilized across a wide spectrum of vessels, including commercial ships, fishing boats, naval vessels, and recreational crafts, highlighting their indispensable role in the maritime industry.

Driven by the growing emphasis on maritime safety and security, coupled with advancements in radar technology, the Global Marine Radar Market continues to expand. Technological innovations such as digital signal processing, automatic radar plotting aids (ARPA), and collision avoidance systems have enhanced the performance and capabilities of marine radar systems, offering improved accuracy, reliability, and situational awareness for mariners. Moreover, regulatory mandates and international conventions requiring the installation of radar systems on certain classes of vessels further drive market growth, as shipowners and operators prioritize compliance with safety regulations and standards.

The Global Marine Radar Market is characterized by intense competition among key players, who continually innovate and develop new radar solutions to meet evolving customer needs and regulatory requirements. Manufacturers invest heavily in research and development to enhance radar performance, increase operational efficiency, and integrate additional features such as chart plotting, target tracking, and weather monitoring into radar systems. Additionally, strategic partnerships and collaborations with technology providers, shipbuilders, and maritime authorities contribute to market expansion, as stakeholders work together to advance radar technology and address emerging challenges in maritime navigation and safety.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Marine Radar Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing emphasis on maritime safety and security
        2. Technological advancements in radar technology
        3. Regulatory mandates requiring radar installation on vessels
        4. Growing maritime trade and transportation activities
        5. Rising demand for advanced collision avoidance systems
      2. Restraints
        1. High initial investment costs for radar systems
        2. Limited adoption in smaller vessels and recreational boats
        3. Challenges related to radar signal interference and clutter
        4. Vulnerability to cyber threats and hacking risks
        5. Environmental concerns regarding radar emissions
      3. Opportunities
        1. Expansion of radar applications beyond traditional navigation
        2. Integration of radar with emerging technologies like artificial intelligence and automation
        3. Development of compact and affordable radar systems for smaller vessels
        4. Increasing demand for radar systems in emerging maritime markets
        5. Focus on enhancing radar performance for harsh weather conditions and challenging environments
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Marine Radar Market, By Type, 2020 - 2030 (USD Million)
      1. X Band
      2. S Band
    2. Global Marine Radar Market, By Application, 2020 - 2030 (USD Million)
      1. Fishing Vessel
      2. Merchant Marine
      3. Military Naval
      4. Recreational Boat
    3. Global Marine Radar Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia/New Zealand
        5. South Korea
        6. ASEAN
        7. Rest of Asia Pacific
      4. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
      5. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
  6. Competitive Landscape
    1. Company Profiles
      1. Furuno Electric Co., Ltd.
      2. Raymarine (FLIR Systems)
      3. Kelvin Hughes Limited
      4. Kongsberg Maritime AS
      5. Garmin Ltd.
      6. Navico
  7. Analyst Views
  8. Future Outlook of the Market

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