Marine Sensors Market: Ballast & Bilge, Fuel & Propulsion, Navigation & Positioning by Ship Type, Application, Connectivity, Sensor Type, and Region - Global Forecast to 2028
DUBLIN, Nov. 29, 2023 /PRNewswire/ -- The "Global Marine Sensors Market by Ship Type (Commercial, Defense, UUV), Application (Ballast & Bilge, Fuel & Propulsion, Navigation & Positioning), End-use (OEM, Aftermarket), Connectivity, Sensor Type, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global marine sensors market is projected to grow from USD 1.4 million in 2023 to USD 1.9 million by 2028, at a CAGR of 6.5% from 2023 to 2028.
The report covers the entire ecosystem of the ship sensors industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Increasing need for maritime transportation and navies focusing on technologically advanced marine vessels drive the marine sensors market. However, management of massive data generated by marine sensors and maintenance Process and Calibration of sensors are limiting the overall growth of the market.
Major Players in the marine sensors market are Honeywell International Inc. (US), Eaton Corporation (Ireland), TE Connectivity (Switzerland), Garmin Ltd. (US), and Curtiss Wright (US) among others.
Commercial Tankers: The largest share in ship type segment in the marine sensors market in 2023
The tankers sub segment of commercial ship type segment is projected to have the largest share in 2023. Tankers play a crucial role in the global economy by facilitating the movement of essential resources and commodities across the world's oceans and waterways. They are equipped with advanced navigation and safety systems to ensure the safe transport of their cargoes and to protect the marine environment.
In July 2023 the U.S. Maritime Administration (MARAD) confirmed the enrollment of nine ships in the Tanker Security Program (TSP). This program was established to meet national defense and security needs by creating a fleet of commercially viable, privately-owned product tank vessels. Funding for TSP was allocated by Congress through the Fiscal Year 2022 Consolidated Appropriations Act, as mandated by the Fiscal Year 2021 National Defense Authorization Act (NDAA) with minor adjustments in the FY22 NDAA.
Fuel and Propulsion: The second largest share in application segment in the marine sensors market in 2023
The Fuel and propulsion sub segment of application type segment is projected to have the second largest share in 2023. Marine sensors are essential components in fuel and propulsion systems for ships and boats. These sensors serve critical functions toenhance operational efficiency and safety. They monitor fuel levels and flow, enabling operators to manage consumption effectively and detect any anomalies. Engine temperature and pressure sensors ensure safe engine operation by preventing overheating and detecting issues like low oil pressure.
Marine sensors also play a pivotal role in emissions control, helping vessels comply with environmental regulations by monitoring exhaust emissions. They contribute to propulsion system health by measuring RPM and detecting abnormal vibrations, facilitating optimal engine performance.
Additionally, GPS sensors aid navigation and safety by providing real-time location data for route planning and collision avoidance. These sensors are integrated into alarm and safety systems, ensuring early warning and protection for both crew and vessel. Overall, marine sensors are indispensable tools for improving efficiency, compliance, and safety in the maritime industry.
Pressure Sensors: The second largest share in sensor type segment in the marine sensors market in 2023
The pressure sensor sub segment of sensor type segment is projected to have the second largest share in 2023. In the maritime operations, diverse control systems and marine air compressors, both high and low-pressure variants, alongside submerged firewater pipe level equipment, exhibit distinct prerequisites for pressure and level assessment.
The robust and precise measurements by individual pressure sensors provide vital information and output for optimizing system functionality, resulting in enhanced efficiency, diminished energy consumption, and precise system positioning. Furthermore, the utilization of pressure measurement for equipment condition monitoring and early detection of issues also establishes a foundational dataset supporting the reliability and failure rate analysis of ship systems.
For example, pressure sensors are commonly used to measure water depth, enabling vessels to determine their position relative to the seabed or water surface and in remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) to control their depth and maintain buoyancy.
The Asia-Pacific region is estimated to have the largest share in the marine sensors market in 2023
Asia-Pacific is estimated to account for the largest share in marine sensors market in 2023. The Asia-pacific region for this study comprises China, India, Japan, Australia, South Korea, and the Rest of Asia-Pacific. The marine sensors market in Asia-Pacific has experienced a remarkable surge in recent years.
The growth of the region is due to actively embracing developments and the presence of major ship building companies which is expected to revolutionize marine sensors in upcoming years. Countries like Japan and the China are investing in the development of dedicated sensors for dedicated systems.
The report provides insights on the following pointers:
For more information about this report visit https://www.researchandmarkets.com/r/qsnwfr
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