Marine Navigation System Market Analysis, Size, Share, Growth, Trends And Forecast 2023

 Key Players

The major players operating in global marine navigation system market, who have adopted the strategies such as geographic expansion, mergers, and acquisitions are Teledyne Marine, Icom America, Simrad, Consilium, Kongsberg Maritime, Northrop Grumman, SevenCs, QPS (SAAB), Raytheon Anschuetz and Tresco.

The marine navigation system market is expected to grow at CAGR of around 5.85% during the period 2017 to 2023.

Market Highlights

A marine navigation system is among the most essential systems utilized in boats for the navigational function. Its purpose is to supervise and manage the movement of the boat as it makes its way from one location to another. The global market is majorly influenced by the factors such as growth of marine industry, increasing demand for accuracy in navigation, technological advancements, increasing marine activities, and growing investment. Over the last few years, there has been an increase in the need of higher accuracy in navigation. As a result the demand for marine navigation system has increased steadily.  Moreover, in the last few years, the technology has upgraded which has made the voyage much easier and safer.

Market Research Analysis

Geographically, the global marine navigation system market has been divided as North America, Asia Pacific, Europe, South America and MEA. Among these regions, North America has accounted the largest market share of 30% in 2016 in terms of revenue. Asia Pacific is the second largest market with the highest CAGR. North America is said to be the major market for marine navigation system owing to the presence of a large number of manufacturers. Additionally, the upgradation of technology, and rising demand for commercial voyage, are expected to create a lucrative opportunities for the market. U.S. is one of the matured economies that have invested a large amount of money on marine activities. Asia Pacific is the second leading region, in terms of revenue. Emerging economies, dominance of China, and technological advancements are the major driving factors.

Scope of the Report

This study provides an overview of the global marine navigation system market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, South America and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global marine navigation system market by its type, application and regions.

By Type

  • Chartplotter
  • Weather Satellite System
  • Radar

 

By Application

  • Commercial
  • Military

By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Details @ https://www.marketresearchfuture.com/reports/marine-navigation-systems-market-4890

 

Comments

Post a Comment

Popular posts from this blog

GERD and NERD Treatment Market Rising Uptake Of Technology In Medical And Healthcare Sector To Boost Industry’s Growth Market 2019 Market Highlights: GERD & NERD Treatment Market Research Report- Americas forecast till 2023 growing continuously and is expected to grow at a CAGR of 4.02 % from 2017 to 2023. Heartburn is the burning sensation in the chest behind the breastbone that we feel when stomach acid refluxes back into the esophagus (food tube). Increasing prevalence of gastric diseases has increased the investment in GERD medication for research and development. This is expected to further drive the demand for gastroenteric drugs. Major players in GERD & NERD treatment market Some of the major players in this market are ( U.S.), GlaxoSmithKline Plc (U.K), Ironwood Pharmaceuticals, Inc. (U.S.), Jeil pharmaceutical Co. Ltd. (South Korea), Johnson & Johnson (U.S.), Mederi Therapeutics Inc. (U.S.), Medigus Ltd. (Israel), Medtronic Inc. (U.S.), Merck & CO.,...
Read more
Air Ambulance Services Market Size, Share, Trends, Application  Global Air Ambulance Services Market  Overview The Global Air Ambulance Services Market is expected to reach USD 11,456.3 million by 2024 at a CAGR of 2.95% during the forecast period. Air ambulance manufacturers are investing heavily in advanced technologies to reduce costs and improve turnaround time. For instance, 3D printing is dramatically changing the way structures and components of aircraft are currently designed and manufactured. It reduces the design constraints that engineers face when using conventional fabrication techniques. Furthermore, the ability to fabricate functional electronics into complex structures using 3D printing allows manufacturers to offer air ambulances that operate effectively in adverse conditions such as inclement weather, tsunamis, droughts, and cyclones. Global Air Ambulance Services Market  Segmental Analysis The global air ambu...
Read more

Satellite Communication (SATCOM) Market Outlook And Opportunities With Future Growth Scenario By 2027

  Market Forecast The satellite communication (SATCOM) market is projected to register a  CAGR of 8.44%  between  2021 and 2027 .   SATCOM is used for the transmission of information from one place to another with the aid of a satellite that orbits around the Earth. SATCOM is employed for a wide range of mobile applications, including communication to aircraft, ships, vehicles, and hand-held terminals, as well as for TV and radio broadcasting. The increasing deployment of small satellites, growing demand for high-speed Internet, and rising adoption of maritime VSAT are primarily driving the market's growth. Additionally, increasing demand for small form factor SATCOM solutions and frequent launches of military satellitesare driving the global market's growth. Globally, military spending has increased significantly in recent years. Factors such as ongoing conflicts in the Middle East & Africa, long-standing tensions, territorial disputes between ...
Read more