Marine Electronics Market: 43% of Growth Will Come from North America |  Evolving Opportunities with Furuno Electric Co. Ltd. and Garmin Ltd

Marine Electronics Market: 43% of Growth Will Come from North America | Evolving Opportunities with Furuno Electric Co. Ltd. and Garmin Ltd

Market dynamics

The market is driven by factors such as the the increase in the adoption of GPS systems, the growing focus on improving the safety of shipping and the increase in maritime trade. however, the high cost associated with sonar systems hinders market growth. Holistic analysis of drivers and challenges will help infer final goals and refine marketing strategies to gain competitive advantage. The Marine Electronics Market Analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on market growth.

Company profiles

The marine electronics market is fragmented and suppliers are implementing growth strategies such as forming strategic partnerships to compete in the market. The Marine Electronics Market Report includes information on product launches, sustainability and prospects from major vendors including 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. Technavio’s Marine Electronics Market Forecast report offers insights into key supplier profiles. Profiles include information on manufacturing, sustainability and prospects for leading companies.

Few companies with key offerings

  • Furuno Electric Co. Ltd. – The company manufactures marine electronics products such as multibeam sonar and compass.
  • Garmin srl – The company manufactures marine electronics products such as sonar black boxes, radar and others.
  • Kongsberg Gruppen ASA – The company manufactures marine electronics products through its Kongsberg Maritime segment.
  • Navico – The company offers marine electronics products such as Simrad Radars and Simrad GPS Display
  • Northrop Grumman Corp – The company manufactures marine electronics products through its subsidiary, Northrop Grumman Sperry Marine.
  • To get to know all major suppliers with their key offerings – Download a free sample now!

Competitive analysis

The report includes competitive analysis, a proprietary tool for analyzing and evaluating the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors taken into account for the analysis are the financial performance of the last 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc.

Segmentation analysis

  • Of Productthe market is classified as sonar systems, radar and GPS tracking devices
  • Of Geography, the market is classified as North AmericaAPAC, Europe, South Americaand MEA.

To know the contribution of each segment – Download a free sample now!

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Scope of the marine electronics market

Report coverage

Details

Page number

120

Reference year

2020

Forecast period

2021-2025

Moment of growth and CAGR

Accelerate to 5.04% CAGR

Market growth 2021-2025

1.42 billion dollars

Market structure

Fragmented

Year-on-year growth (%)

3.42

Contribution of the performing market

North America at 43%

Competitive landscape

Leading companies, competitive strategies, area of ​​consumer involvement

Profiled companies

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

Core Market Analysis, Market Growth Inductors and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Expertise for customization

If our report did not include the data you are looking for, you can contact our analysts and customize the segments.

Table of contents

Synthesis

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: forecasts for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of newcomers
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market segmentation by product

  • Market segments
  • Comparison by product
  • Sonar Systems – 2020-2025 Market Sizes and Forecasts
  • Radar – 2020-2025 market size and forecast
  • GPS Tracking Devices: 2020-2025 Market Sizes and Forecasts
  • Market opportunity by product

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and 2020-2025 forecasts
  • APAC – 2020-2025 market size and forecast
  • Europe – Market size and 2020-2025 forecasts
  • South America – Market size and 2020-2025 forecasts
  • MEA – 2020-2025 market size and forecasts
  • Main leading countries
  • Market opportunities by geographical area
  • Market driver
  • Market challenges
  • Market trend

Seller landscape

  • Seller landscape
  • Disturbance of the landscape

Supplier analysis

  • Covered suppliers
  • Positioning on the supplier market
  • Furuno Electric Co. Ltd.
  • Garmin srl
  • Kongsberg Group ASA
  • Navico
  • Northrop Grumman Corp.
  • Raytheon Technologies Corp.
  • Teledyne Technologies Inc.
  • Thales Group
  • thyssenkrupp AG
  • Ultra Electronics Holdings Plc

Appendix

  • Scope of the report
  • Currency conversion rates per US $
  • Research methodology
  • List of abbreviations

Who we are
Technavio is a world-leading technological research and consultancy company. Their research and analysis focuses on emerging market trends and provides useful information to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of over 17,000 reports and counts, covering 800 technologies, in 50 countries. Their customer base is made up of businesses of all sizes, including more than 100 Fortune 500 companies. This growing customer base is based on Technavio’s comprehensive coverage, in-depth research and actionable market insights to identify opportunities in the existing and potential markets and assess their competitive positions within evolving market scenarios.

Contact
Technavio Research
Jesse Maida
Media and marketing executive
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United Kingdom: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

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