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Marine Electronics Market Report: Trends, Forecast and Competitive AnalysisThe marine electronics market is expected to grow by USD 927.70 million, progressing at a CAGR of over 3% during the forecast period. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201130005097/en/ Technavio has announced its latest market research report titled Global Marine Electronics Market 2020-2024 (Graphic: Business Wire) Click & Get Free Sample Report in Minutes The rise in seaborne trade is one of the major factors propelling market growth. However, factors such as delay in defense budget sanctioning will hamper the market growth. More details: https://www.technavio.com/report/marine-electronics-market-industry-analysis Marine Electronics Market: Product Landscape The common applications of the sonar systems in the maritime is in bathymetric studies, offshore oil and gas exploration, and defense: Furthermore, they are used in military vessels as well as in unmanned underwater vehicles to track enemy vessels and torpedo. The significant applications of sonar systems in the maritime are driving the marine electronics market growth. The marine electronics market share growth by the sonar systems segment will be slower than the growth of the market in the other segments. Marine Electronics Market: Geographic Landscape The presence of established marine electronics manufacturers and increased defense spending by respective governments will significantly drive marine electronics market growth in this region over the forecast period. 42% of the market's growth will originate from North America during the forecast period. The US is the critical market for marine electronics in North America. Market growth in this region will be slower than the growth of the market in APAC, MEA, and South America. Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before urchasing Related Reports on Information Technology Include: Global Marine Engines Market: The marine engines market size has the potential to grow by USD 974.45 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in the year-over-year growth. To get extensive research insights: Click and Get FREE Sample Report in Minutes! Global Marine Propulsion Engine Market: The marine propulsion engine market size has the potential to grow by USD 472.47 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth. To get extensive research in sights: Click and Get FREE Sample Report in Minutes! Companies Covered:
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