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Global Marine Radar Market Share, Size, Analysis, Forecast: By Product Type: X Band, S Band; By Component: Transmitter, Receiver, Antennae, Others; By Application: Fishing Vessel, Recreational Boat, Merchant Marine, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Marine Radar Market Outlook
The global marine radar market size was approximately USD 1.44 billion in 2023. The market is projected to grow at a CAGR of 6.0% between 2024 and 2032, reaching a value of USD 2.45 billion by 2032.
Key Trends in the Market
An electromagnetic ranging and detecting system, or marine radar system, receives a reflection of the signal from an item, which allows it to approximate the object's size. In order to provide bearing and distance for collision avoidance and maritime navigation, it does this by recognising other ships and land impediments. These systems offer excellent accuracy and precision and can identify moving and stationary objects in intense environmental circumstances like rain or fog.
- The introduction of stringent regulations, including the European Maritime Single Window (EMSW), which provides uniform regulations for supplying the data needed for port calls by marine organisations such as the International Maritime Organisation (IMO), drives the marine radar market growth.
- Technological developments in marine radar systems that can detect dangerous targets and innovations in advanced dielectric radar technologies positively influence the marine radar market demand.
- The rise in commercial shipping, logistics, and passenger ships further contributes to the market growth of radars for enhanced security and protection. Moreover, advancements in sensor technologies, including radar, are likely to be key marine radar market trends in the forecast period.
Market Analysis
Based on product type, the market is bifurcated into X band and S band. On the basis of component, the market can be divided into transmitter, receiver, and antennae, among others.
Based on application, the marine radar market segmentation includes fishing vessel, recreational boat, and merchant marine, among others. The major regional markets for marine radar are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global marine radar market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Furuno Electric Co.,Ltd.
- Northrop Grumman Corporation
- Terma A/S
- Rheinmetall AG
- BAE Systems plc
- Thales Group
- Saab AB
- Others
Market Share by Product Type
X-band radar systems hold a significant portion of the marine radar market share. Marine radar systems using the X-band (8–12 GHz) frequency are used to warn cargo and crew members of potential hazards at sea and to direct captains to navigate within a few feet of one another in severe rain or fog.
X-band radar systems can scan the ocean surface with high enough temporal and spatial resolution to identify individual waves, and they can relay the signals in real-time. The rising prevalence of logistics and commercial shipping expands the adoption of such systems for enhanced protection.
Market Share by Region
As per the marine radar market analysis, North America is witnessing a heightened adoption of radar systems as countries such as the USA are extensively spending on the military. For instance, the USA spent 39% of the world military budget in 2022.
The Asia Pacific also holds a significant market share amid the increasing military spending of China and India. Advancements in technologies in the defence and military sector further aid the market growth in the region.
Competitive Landscape
Furuno Electric Co., Ltd. is an electronics company founded in 1938 that is engaged in developing a range of fish finders, navigational instruments, and marine radar systems by incorporating advanced technologies. The company also produces medical equipment, global positioning systems, and marine solutions such as time synchronisation utilising the Global Navigation Satellite System (GNSS).
Northrop Grumman Corporation is an American multinational aerospace and defence technology company and is regarded as one of the biggest producers of weapons and military technology worldwide. The company is listed on the New York Stock Exchange with the ticker symbol NOC (NYSE: NOC).
Terma A/S, founded in 1949, is owned by Thrige Holding A/S, a Danish firm. It is a defence and aerospace producer for both military and commercial uses. It is one of the biggest corporations in Denmark's aerospace and defence sectors. For a variety of specialised application areas, it provides cutting-edge technology and services like radar, maritime, and avionics, among others. These systems contribute to improving an organisation's security.
Other players operating in the marine radar market include Rheinmetall AG, BAE Systems plc, Thales Group, and Saab AB, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Growth Drivers / Restraints and Technologies Developed for New Radar
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Marine Radar Market Analysis
8.1 Key Industry Highlights
8.2 Global Marine Radar Historical Market (2017-2022)
8.3 Global Marine Radar Market Forecast (2023-2038)
8.4 Global Marine Radar Market by Product Type
8.4.1 X Band
8.4.1.1 Historical Trend (2017-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 S Band
8.4.2.1 Historical Trend (2017-2022)
8.4.2.2 Forecast Trend (52023-2028)
8.5 Global Marine Radar Market by Component
8.5.1 Transmitter
8.5.1.1 Historical Trend (2017-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Receiver
8.5.2.1 Historical Trend (2017-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Antennae
8.5.3.1 Historical Trend (2017-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Marine Radar Market by Application
8.6.1 Fishing Vessel
8.6.1.1 Historical Trend (2017-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Recreational Boat
8.6.2.1 Historical Trend (2017-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Merchant Marine
8.6.3.1 Historical Trend (2017-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Marine Radar Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Marine Radar Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Marine Radar Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Marine Radar Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Marine Radar Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Marine Radar Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Furuno Electric Co.,Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Northrop Grumman Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Terma A/S
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Rheinmetall AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 BAE Systems plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Thales Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Saab AB
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Marine Radar Market: Key Industry Highlights, 2018 and 2032
2. Global Marine Radar Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Marine Radar Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Marine Radar Historical Market: Breakup by Component (USD Billion), 2018-2023
5. Global Marine Radar Market Forecast: Breakup by Component (USD Billion), 2024-2032
6. Global Marine Radar Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Marine Radar Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. North America Marine Radar Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Marine Radar Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Marine Radar Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Marine Radar Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Marine Radar Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Marine Radar Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Marine Radar Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Marine Radar Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Marine Radar Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Marine Radar Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Marine Radar Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.44 billion.
The market is assessed to grow at a CAGR of 6.0% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2.45 billion by 2032.
The market is being driven by the advancement in radar technology, new product launches, and the rise in commercial shipping.
The key trends of the market include increased military spending by developed and developing nations and advancements in marine radar systems.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major components of the hybrid cloud market include transmitter, receiver, and antennae, among others.
The major players in the market are Furuno Electric Co.,Ltd., Northrop Grumman Corporation, Terma A/S, Rheinmetall AG, BAE Systems plc, Thales Group, and Saab AB, among others.
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