Marine Electronics Market to Grow at 4.77% CAGR to 2021 Driven by Increased Adoption of GPS Systems

The marine electronics market report covers the present scenario and the growth prospects of the global market for 2017-2021. Marine electronics are electronic devices that are specifically designed for the marine environment. Each device has its own specific function.

Marine electronics market is new electronics report added on The analysts forecast global marine electronics market to grow at a CAGR of 4.77% during the period 2017-2021. The report considers the revenue generated from the sales of marine electronics.

One trend in the Marine Electronics Market is growing adoption of UUVs. UUVs are underwater drones that are used for various applications, including naval mine detection, seabed mapping, seabed mining, searching for underwater mines, and search and recovery missions. The global UUV market was valued at $2.47 billion in 2015, and it is expected to grow at a CAGR of more than 20% during the forecast period.

The report considers the following marine electronic products: Sonar (sound navigation and ranging) systems, Radars, and GPS tracking devices. The global marine electronics market is segmented based on product and geography. Sonar systems dominated the global marine electronics market in 2016, accounting for a share of 61.19%. It is expected to account for 57.29% of the market by 2021.

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2021 Marine electronics market driver is increase in adoption of GPS systems. There is an increase in the adoption of GPS systems to determine the location of ships and facilitate immediate rescue efforts during an emergency. GPS systems combine multiple devices and provide accurate details and information. GPS systems, which work on a satellite transmission basis, are highly authentic and effective. They help in pinpointing the position and location of vessels. With the use of GPS systems, seaborne vessels will know which route to take and what courses to avoid.

Main players in the global marine electronics market are ATLAS ELEKTRONIK, FLIR Systems, FURUNO ELECTRIC, Garmin, Johnson Outdoors, Kongsberg Maritime, Kraken Sonar, Navico, Neptune Sonar, Northrop Grumman, Raytheon, R2Sonic, Sound Metrics, Thales Group, and Ultra Electronics.

The report, Global Marine Electronics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

List of Exhibits
Exhibit 01: CAGR comparison of each product 2016-2021
Exhibit 02: CAGR comparison by geography 2016-2021
Exhibit 03: Global marine electronics market: Overview
Exhibit 04: Global marine electronics market 2016-2021 ($ billions)
Exhibit 05: Maritime security systems
Exhibit 06: Five forces analysis
Exhibit 07: Global marine electronics market by product 2016-2021 (% share)
Exhibit 08: Global marine electronics market by product 2016-2021 ($ billions)
Exhibit 09: Global marine electronics market by sonar systems 2016-2021 ($ billions)
Exhibit 10: Global marine electronics market by radars 2016-2021 ($ billions)
Exhibit 11: Frequency bands for operation of radars
Exhibit 12: Global marine electronics market by GPS tracking devices 2016-2021 ($ billions) and more..

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