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The marine radar market share is expected to increase by USD 147.29 million from 2021 to 2026, at a CAGR of 3.59%.
This marine radar market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers marine radar market segmentation by application (fishing vessel, merchant vessel, naval vessel, and recreational vessel) and geography (North America, Europe, APAC, South America, and MEA). The marine radar market report also offers information on several market vendors, including BAE Systems Plc, Dassault Aviation Group, General Dynamics Corp., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Saab AB, and Thales Group among others.
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"The growing boat rental market and weapons guidance application in North America will drive the demand for marine radar."
The technologically advanced surveillance systems is notably driving the marine radar market growth, although factors such as adverse climatic conditions may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the marine radar industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Marine Radar Market Driver
One of the key factors driving the global marine radar market growth is the technologically advanced systems. Advanced radar systems are utilized for digital signal processing that can recover information from high noise levels, making the radars an intrinsic source of random changes in the signal generated by all electronic components. Radars are incorporated with a comprehensive array of marine equipment aboard commercial ships, including chart plotters, sonar, two-way marine radio, satellite navigation (GNSS) receivers such as the US global positioning system (GPS), and emergency locators (SART). Adoption of these advanced radars and a significant increase in the defense budget will positively impact the market in focus during the forecast period.
Key Marine Radar Market Trend
Navigation aid is another key factor driving the global marine radar market growth. Accidents at sea can be avoided with the use of ship radar by utilizing the radar's multiple intrinsic features (determining the CPA and the TCPA, EBL, and VRM). However, even while the ships are parked at the harbor, the coast guard, VTS, and other authorities can utilize these radars to monitor activity in the narrow radar range and for collision avoidance. Well, the main factor that is driving the marine radar market is the increasing demand for weapon guidance and surveillance. The ship radar features a screen (called the Plan Position Indicator) that displays all of the targets within the radar range. Because all of the items are clearly visible on the screen, navigating and monitoring the ship's location becomes much more practical, thus the phrase 'assist to satellite navigation.
Key Marine Radar Market Challenge
One of the major challenges to the global marine radar market growth is the adverse climatic conditions such as rain which can produce echo signals that obscure the desired target echoes. Radar waves bend as they travel through the atmosphere due to the reduction in density of the Earth's atmosphere as altitude increases, which boosts the detection range at low angles. The atmosphere can generate "ducts" that capture and channel radar energy around the curvature of Earth that allows detection at ranges beyond the normal horizon. Ducts can sometimes extend the range of airborne radar, but they can also cause radar radiation to be deflected and not illuminate regions beneath the ducts. Ducting might be more of a bother than aid in some situations because it is unpredictable and unreliable, which may limit the adoption of radars, thereby negatively impacting the market in focus during the forecast period.
This marine radar market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global marine radar market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the marine radar market during the forecast period.
The parent, global aerospace & defense market covers products and companies engaged in the production of aerial platforms used under commercial and general aviation; defense platforms used under naval, land, and air domains; arms and ammunition; defense electronics; defense logistics equipment; and space platforms, equipment, and launch vehicles. One of the factors driving the marine radar market is the increasing demand for weapon guidance and surveillance. The aerospace & defense market also encompasses maintenance, overhaul, and repair (MRO) activities related to commercial and general aviation and defense sectors.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the marine radar market encompasses successful business strategies deployed by the key vendors. The marine radar market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
BAE Systems Plc - The company offers marine radars such as AWS-10 2D, Artisan radar, and others.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The marine radar market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the marine radar market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global aerospace and defense market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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31% of the market's growth will originate from North America during the forecast period. The US is the key market for marine radar in North America. Market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.
The increased participation of people in water-related recreational activities in countries such as the US and Canada will facilitate the marine radar market growth in North America over the forecast period will facilitate the marine radar market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The emergence of the COVID-19 pandemic in 2020 became a worldwide disaster. The production process has come to a halt due to the lockdown restrictions, which disrupted the complete supply chain of pulse radar systems. The marine radar market is expected to be negatively impacted due to a scarcity of labor, unprecedented closure of automotive activities in the industrial sector, and a transit prohibition in reaction to the crisis. Because of the foreign commerce prohibition and the tourism sector lockup, the entire marine radar market revenue has suffered a large demand gap.
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The marine radar market share growth by the fishing vessel segment will be significant during the forecast period. The increase in demand for the fishing radar that detects reflected pulses of sound energy owing to its popularity in commercial, artisanal, and recreational fishing will drive the growth in this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the marine radar market size and actionable market insights on post COVID-19 impact on each segment.
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Marine Radar Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3.59% |
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Market growth 2022-2026 |
$ 147.29 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.97 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
North America at 31% |
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Key consumer countries |
US, Japan, Sweden, China, and The Netherlands |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
BAE Systems Plc, Dassault Aviation Group, General Dynamics Corp., Honeywell International Inc., L3Harris Technologies Inc., Lockheed Martin Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Saab AB, and Thales Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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