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Germany and Global Marine Electronics Market Analysis: Industry to Grow at 4.38% YOY Annually Between 2022 and 2023 - Technavio
[January 19, 2023]

Germany and Global Marine Electronics Market Analysis: Industry to Grow at 4.38% YOY Annually Between 2022 and 2023 - Technavio


NEW YORK, Jan. 19, 2023 /PRNewswire/ -- According to Technavio, the global marine electronics market size is estimated to grow by USD 1765.93 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.64% during the forecast period. The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027, For more Insights on market size Request a sample report

Global Marine Electronics Market - Five Forces

The global marine electronics market is fragmented, and the five forces analysis covers– 

  • Bargaining Power of Buyers 
  • The threat of New Entrants
  • Threat of Rivalry
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global marine electronics market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global marine electronics market - Segmentation assessment

Segment overview

Technavio has segmented the market based on components (hardware and software), products (sonar systems, radars, and GPS tracking devices), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

  • The market share growth of the hardware segment will be higher than the other segments during the forecast period. The market segment is expanding due to the military's expanding naval presence, which is brought on by the acquisition of new ships and submarines as well as maintenance and upgrade initiatives for current navy vessels. Additionally, increased marine trade, oil and gas development, dredging, and fishing operations will drive market growth.

Geography overview

By geography, the global marine electronics market is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global marine electronics market.

  • North America will account for 43% of the market's growth during the forecast period. The US Navy has invested heavily in sonar devices to combat invisible threats in the water. As a result, the increasing demand from the US for research and defense-related applications promotes the expansion of the North American marine electronics market.

Download a Sample Report

Global marine electronics market – Market dynamics

Key factor driving market growth

  • The increase in the adoption of GPS systems is notably driving the market growth.
  • GPS systems that rely on satellite transmission are extremely reliable and efficient. They aid in determining ship position and location. Marine vessels use GPS devices to determine which path to take and which directions to avoid. GPS systems connect many devices and deliver precise information and details. 
  • Furthermore, the growing focus on improving marine transportation safety and the rise in seaborne trade will drive the market during the forecast period.

Leading trends influencing the market 

  • The growing use of passive radars is an emerging trend in the market. 
  • Passive radar is important for military operations and is positioned in distant areas to track flying objects at low altitudes. The development of radars is in great demand worldwide as militaries place a greater emphasis on creating stealthy platforms.
  • Furthermore, the developments in SAS technology and the increasing deployment of UUVs will further drive the market during the forecast period.

Major challenges hindering the market growth

  • The high cost associated with sonar systems is a major challenge impeding the market.
  • The development of sonar modules is hampered by the significantly higher average selling prices and significant R&D expenditures of sonar systems used in defense applications.
  • This is to ensure that sonar system manufacturers can customize their products to suit the needs of their clients. Vendors must also continuously upgrade sonar equipment with the newest technology to provide acoustic superiority at a reasonable price. Therefore, factors like these will hinder market growth.

Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this marine electronics market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the marine electronics market between 2023 and 2027
  • Precise estimation of the size of the marine electronics market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the marine electronics market across North America, APAC, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of marine electronics market vendors

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Marine Electronics Market Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.64%

Market growth 2023-2027

USD 1765.93 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.38

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 43%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Adrie Marine Electronics Solutions Pvt. Ltd., Elcome International LLC, Furuno Electric Co. Ltd., Garmin Ltd, Icom America Inc., Japan Radio Co. Ltd., Johnson Outdoors Inc., Kongsberg Gruppen ASA, Kraken Robotics Inc., Marine Electronics, Navico, Neptune Sonar Ltd., Northrop Grumman Corp., R2SONIC Inc., Raytheon Technologies Corp., Sound Metrics Corp., SRT Marine Systems Plc, Teledyne Technologies Inc., thyssenkrupp AG, and Ultra Electronics Holdings Plc

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


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Table of Contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global marine electronics market 2017 - 2021
    • Exhibit 18: Historic Market Size – Data Table on Global marine electronics market 2017 - 2021 ($ million)
  • 4.2 Component Segment Analysis 2017 - 2021 
    • Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)
  • 4.3 Product Segment Analysis 2017 - 2021 
    • Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 - 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 - 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

  • 6.1 Market segments 
    • Exhibit 30: Chart on Component - Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
  • 6.2 Comparison by Component 
    • Exhibit 32: Chart on Comparison by Component
    • Exhibit 33: Data Table on Comparison by Component
  • 6.3 Hardware - Market size and forecast 2022-2027
    • Exhibit 34: Chart on Hardware - Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Hardware - Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Hardware - Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Hardware - Year-over-year growth 2022-2027 (%)
  • 6.4 Software - Market size and forecast 2022-2027
    • Exhibit 38: Chart on Software - Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Software - Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Software - Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Software - Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Component 
    • Exhibit 42: Market opportunity by Component ($ million)

7 Market Segmentation by Product

  • 7.1 Market segments 
    • Exhibit 43: Chart on Product - Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Product - Market share 2022-2027 (%)
  • 7.2 Comparison by Product 
    • Exhibit 45: Chart on Comparison by Product
    • Exhibit 46: Data Table on Comparison by Product
  • 7.3 Sonar systems - Market size and forecast 2022-2027
    • Exhibit 47: Chart on Sonar systems - Market size and forecast 2022-2027 ($ million)
    • Exhibit 48: Data Table on Sonar systems - Market size and forecast 2022-2027 ($ million)
    • Exhibit 49: Chart on Sonar systems - Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Sonar systems - Year-over-year growth 2022-2027 (%)
  • 7.4 Radars - Market size and forecast 2022-2027
    • Exhibit 51: Chart on Radars - Market size and forecast 2022-2027 ($ million)
    • Exhibit 52: Data Table on Radars - Market size and forecast 2022-2027 ($ million)
    • Exhibit 53: Chart on Radars - Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Radars - Year-over-year growth 2022-2027 (%)
  • 7.5 GPS tracking devices - Market size and forecast 2022-2027
    • Exhibit 55: Chart on GPS tracking devices - Market size and forecast 2022-2027 ($ million)
    • Exhibit 56: Data Table on GPS tracking devices - Market size and forecast 2022-2027 ($ million)
    • Exhibit 57: Chart on GPS tracking devices - Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on GPS tracking devices - Year-over-year growth 2022-2027 (%)
  • 7.6 Market opportunity by Product 
    • Exhibit 59: Market opportunity by Product ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 63: Chart on Geographic comparison
    • Exhibit 64: Data Table on Geographic comparison
  • 9.3 North America - Market size and forecast 2022-2027
    • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
  • 9.4 APAC - Market size and forecast 2022-2027
    • Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
    • Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
    • Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)
  • 9.5 Europe - Market size and forecast 2022-2027
    • Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
    • Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)
  • 9.6 South America - Market size and forecast 2022-2027
    • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
    • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa - Market size and forecast 2022-2027 
    • Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
    • Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
    • Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
  • 9.8 US - Market size and forecast 2022-2027
    • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
    • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
  • 9.9 China - Market size and forecast 2022-2027
    • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
    • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
  • 9.10 Canada - Market size and forecast 2022-2027
    • Exhibit 93: Chart on Canada - Market size and forecast 2022-2027 ($ million)
    • Exhibit 94: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
    • Exhibit 95: Chart on Canada - Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on Canada - Year-over-year growth 2022-2027 (%)
  • 9.11 Germany - Market size and forecast 2022-2027
    • Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
    • Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)
  • 9.12 Japan - Market size and forecast 2022-2027
    • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
    • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
    • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
    • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape 
    • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 108: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 109: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 110: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 111: Matrix on vendor position and classification
  • 12.3 Elcome International LLC 
    • Exhibit 112: Elcome International LLC - Overview
    • Exhibit 113: Elcome International LLC - Product / Service
    • Exhibit 114: Elcome International LLC - Key offerings
  • 12.4 Furuno Electric Co. Ltd. 
    • Exhibit 115: Furuno Electric Co. Ltd. - Overview
    • Exhibit 116: Furuno Electric Co. Ltd. - Business segments
    • Exhibit 117: Furuno Electric Co. Ltd. - Key news
    • Exhibit 118: Furuno Electric Co. Ltd. - Key offerings
    • Exhibit 119: Furuno Electric Co. Ltd. - Segment focus
  • 12.5 Garmin Ltd 
    • Exhibit 120: Garmin Ltd - Overview
    • Exhibit 121: Garmin Ltd - Business segments
    • Exhibit 122: Garmin Ltd - Key offerings
    • Exhibit 123: Garmin Ltd - Segment focus
  • 12.6 Icom America Inc. 
    • Exhibit 124: Icom America Inc. - Overview
    • Exhibit 125: Icom America Inc. - Product / Service
    • Exhibit 126: Icom America Inc. - Key offerings
  • 12.7 Japan Radio Co. Ltd. 
    • Exhibit 127: Japan Radio Co. Ltd. - Overview
    • Exhibit 128: Japan Radio Co. Ltd. - Product / Service
    • Exhibit 129: Japan Radio Co. Ltd. - Key offerings
  • 12.8 Johnson Outdoors Inc. 
    • Exhibit 130: Johnson Outdoors Inc. - Overview
    • Exhibit 131: Johnson Outdoors Inc. - Business segments
    • Exhibit 132: Johnson Outdoors Inc. - Key offerings
    • Exhibit 133: Johnson Outdoors Inc. - Segment focus
  • 12.9 Kongsberg Gruppen ASA 
    • Exhibit 134: Kongsberg Gruppen ASA - Overview
    • Exhibit 135: Kongsberg Gruppen ASA - Business segments
    • Exhibit 136: Kongsberg Gruppen ASA - Key news
    • Exhibit 137: Kongsberg Gruppen ASA - Key offerings
    • Exhibit 138: Kongsberg Gruppen ASA - Segment focus
  • 12.10 Kraken Robotics Inc. 
    • Exhibit 139: Kraken Robotics Inc. - Overview
    • Exhibit 140: Kraken Robotics Inc. - Product / Service
    • Exhibit 141: Kraken Robotics Inc. - Key offerings
  • 12.11 Navico 
    • Exhibit 142: Navico - Overview
    • Exhibit 143: Navico - Product / Service
    • Exhibit 144: Navico - Key offerings
  • 12.12 Neptune Sonar Ltd. 
    • Exhibit 145: Neptune Sonar Ltd. - Overview
    • Exhibit 146: Neptune Sonar Ltd. - Product / Service
    • Exhibit 147: Neptune Sonar Ltd. - Key offerings
  • 12.13 Northrop Grumman Corp. 
    • Exhibit 148: Northrop Grumman Corp. - Overview
    • Exhibit 149: Northrop Grumman Corp. - Business segments
    • Exhibit 150: Northrop Grumman Corp. - Key news
    • Exhibit 151: Northrop Grumman Corp. - Key offerings
    • Exhibit 152: Northrop Grumman Corp. - Segment focus
  • 12.14 Raytheon Technologies Corp. 
    • Exhibit 153: Raytheon Technologies Corp. - Overview
    • Exhibit 154: Raytheon Technologies Corp. - Product / Service
    • Exhibit 155: Raytheon Technologies Corp. - Key offerings
  • 12.15 Teledyne Technologies Inc. 
    • Exhibit 156: Teledyne Technologies Inc. - Overview
    • Exhibit 157: Teledyne Technologies Inc. - Business segments
    • Exhibit 158: Teledyne Technologies Inc. - Key news
    • Exhibit 159: Teledyne Technologies Inc. - Key offerings
    • Exhibit 160: Teledyne Technologies Inc. - Segment focus
  • 12.16 thyssenkrupp AG 
    • Exhibit 161: thyssenkrupp AG - Overview
    • Exhibit 162: thyssenkrupp AG - Business segments
    • Exhibit 163: thyssenkrupp AG - Key news
    • Exhibit 164: thyssenkrupp AG - Key offerings
    • Exhibit 165: thyssenkrupp AG - Segment focus
  • 12.17 Ultra Electronics Holdings Plc 
    • Exhibit 166: Ultra Electronics Holdings Plc - Overview
    • Exhibit 167: Ultra Electronics Holdings Plc - Business segments
    • Exhibit 168: Ultra Electronics Holdings Plc - Key offerings
    • Exhibit 169: Ultra Electronics Holdings Plc - Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 170: Inclusions checklist
    • Exhibit 171: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 172: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 173: Research methodology
    • Exhibit 174: Validation techniques employed for market sizing
    • Exhibit 175: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 176: List of abbreviations
About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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