The marine radar market is forecasted to grow by USD 163.1 mn during 2023-2028, accelerating at a CAGR of 4% during the forecast period. The report on the marine radar market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for enhanced maritime safety and security, increasing naval defense budgets and modernization programs, and rise in marine tourism.
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
3.8%
CAGR
4%
Incremental Value
$163.1 mn
Technavio's marine radar market is segmented as below:
By Application
Fishing vessel
Merchant vessel
Naval vessel
Recreational vessel
By Geographical Landscape
North America
Europe
APAC
South America
Middle East and Africa
This study identifies the rising adoption of advanced solid-state radar systems as one of the prime reasons driving the marine radar market growth during the next few years. Also, increased integration of marine radar with gps and ais systems and advancements in ai-driven radar analytics and predictive technologies will lead to sizable demand in the market.
The report on the marine radar market covers the following areas:
Marine Radar Market sizing
Marine Radar Market forecast
Marine Radar Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading marine radar market vendors that include Alphatron Marine B.V., BAE Systems Plc, Brunswick Corp., Dassault Systemes SE, Furuno Electric Co. Ltd., Garmin Ltd., GEM elettronica, General Dynamics Corp., Honeywell International Inc., Koden Electronics Co. Ltd., L3Harris Technologies Inc., Lockheed Martin Corp., Nisshinbo Holdings Inc., Northrop Grumman Corp., RTX Corp., Saab AB, Teledyne FLIR LLC, Thales Group, Wartsila Corp., and WMJ Marine Corp.. Also, the marine radar market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
Overview on factors of disruption
2.4 Impact of drivers and challenges
Impact of drivers and challenges in 2023 and 2028
3 Market Landscape
3.1 Market ecosystem
Parent Market
Data Table on - Parent Market
3.2 Market characteristics
Market characteristics analysis
3.3 Value chain analysis
Value Chain Analysis
4 Market Sizing
4.1 Market definition
Offerings of companies included in the market definition
4.2 Market segment analysis
Market segments
4.3 Market size 2023
4.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
5 Historic Market Size
5.1 Global Marine Radar Market 2018 - 2022
Historic Market Size - Data Table on Global Marine Radar Market 2018 - 2022 ($ million)