Market Research Future published a research report on the global marine radar market that contains information from 2019 to 2023. The market is expected to register a CAGR of approximately 2.9% during the review period.
Global Marine Radar Market: Information by Type (S Band and X Band), by Application (Fishing Vessel, Merchant Marine, Military Naval and Recreational Boat), and by Region — Global Forecast till 2023
Marine Radar Market Key Players:
We recognize the key players in the global marine radar market are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), FURUNO ELECTRIC CO.LTD. (Japan), Raytheon Company (US), Saab AB (Sweden), BAE Systems (UK), Garmin Ltd (US), FLIR Systems, Inc. (US), Kongsberg Group (Sweden) and Alphatron Marine B.V. (The Netherlands).
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Marine Radar Market Scenario:
Marine radars play a very significant role in offering enhanced safety and surveillance capabilities to military and commercial personnel. Additionally, the radars offer reduced energy consumption and enhanced security as the marine radars with long range detection operate in rough climatic conditions.
Based on region, the global marine radar market is segmented as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America dominated the global market primarily due to the large expenses and developments by the regional companies such as Raytheon and Lockheed Martin Corporation on marine radar solutions. Moreover, stringent government regulations pertaining marine safety and surveillance is driving the market growth. However, Asia-Pacific is expected to witness the fastest growth, over the forecast period. Factors such as increasing technological advancements and increasing disposable incomes of public of countries such as China and India are driving the market growth. Additionally, increasing defense expenditure of countries such as China and India are driving the marine radar market in the region.
Based on type, the marine radar market has been segmented into X band and S band. X band radar accounted for the largest market share over the forecast period. Benefits offered such as enhanced target resolution and higher compatibility with small antennas are driving the market growth. On the basis of application, the market has been segmented into fishing vessel, merchant marine, military naval, and recreational boat. Military naval segment is anticipated to grow at the fastest CAGR over the forecast period. Factors such as increased adoption of marine radars by governments of various countries and growing demand for enhanced detection devices is driving the market growth.
Marine Radar Market Major Developments:
- In February 2019, Lockheed Martin Corporation signed a contact amounting approximately USD 90 million with the US Navy, where the former will provide its marine radar systems to the US Navy.
- In February 2019, Northrop Grumman Corporation launched its marine radar system named SeaGuard. A radar system that offers enhanced situational and surveillance capabilities.
Table of Content:
1. Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Scope of The Study
2.3. Market Structure
2.4. Key Takeaways
2.5. Key Buying Criteria
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
3.7. Limitations
Continued. . .
List of Tables:
Table 1 Global Marine Radar Market, By Region, 2018–2023
Table 2 North America: Marine Radar Market, By Country, 2018–2023
Table 3 Europe: Marine Radar Market, By Country, 2018–2023
Table 4 Asia-Pacific: Marine Radar Market, By Country, 2018–2023
Table 5 Rest Of The World: Marine Radar Market, By Region, 2018–2023
Table 6 Global Marine Radar Market, By Region, 2018–2023
Table 7 North America: Marine Radar, Type Market, By Country, 2018–2023
Table 8 Europe: Marine Radar Market, By Country, 2018–2023
Table 9 Asia-Pacific: Marine Radar Market, By Country, 2018–2023
Table 10 Latin America: Marine Radar Market, By Region, 2018–2023
Continued. . .
List of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approaches
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Marine Radar Market, Share, By Type, 2017 (%)
FIGURE 9 Global Marine Radar Market, By Type, 2018–2023 (USD Million)
FIGURE 10 Global Marine Radar Market, Share, By Application, 2017 (%)
Continued. . .
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