Global Marine Electronics Market Growth (Status and Outlook) 2023-2029

Global Marine Electronics Market Growth (Status and Outlook) 2023-2029

Marine electronics refers to electronics devices designed and classed for use in the marine environment on board ships and yachts where even small drops of salt water will destroy electronics devices. Therefore, the majority of these types of devices are either water resistant or waterproof.
LPI (LP Information)' newest research report, the “Marine Electronics Industry Forecast” looks at past sales and reviews total world Marine Electronics sales in 2022, providing a comprehensive analysis by region and market sector of projected Marine Electronics sales for 2023 through 2029. With Marine Electronics sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Marine Electronics industry.
This Insight Report provides a comprehensive analysis of the global Marine Electronics landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Marine Electronics portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Marine Electronics market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Marine Electronics and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Marine Electronics.
The global Marine Electronics market size is projected to grow from US$ 12310 million in 2022 to US$ 17290 million in 2029; it is expected to grow at a CAGR of 5.0% from 2023 to 2029.
For applications of global marine electronics consumption, merchant marine is the largest segment with a market share of nearly 32% in 2019. Fishing vessel and yachts/recreation accounted for about 23% and 22% of the global market, respectively.

Among the global regions , the Europe held the largest the market share with 34% in 2019,while United States occupied about 31% of the market share.
This report presents a comprehensive overview, market shares, and growth opportunities of Marine Electronics market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
GPS & Radar Systems
Fish Finders & Sonar
Marine Autopilots
Communication Equipment
Audio & Video Equipment
Segmentation by application
Merchant Marine
Fishing Vessel
Yachts/Recreation
Military
Underwater Drones
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Furuno
Wärtsilä
Garmin
Kongsberg Maritime
Navico
ThyssenKrupp Marine Systems
JRC
Northrop Grumman
FLIR Systems
Thales Group
Ultra Electronics
Raytheon Anschütz
ICOM
Johnson Outdoors
Highlander
Kraken Robotics
Neptune Sonar

Please note: The report will take approximately 2 business days to prepare and deliver.