Market Research Future Insights
The global Marine radar market is expected to register a CAGR of ~6.89% from 2020 to 2030 and hold a value of over USD 4.89 Billion by 2030.
The marine radar market refers to the industry involved in the development, production, and deployment of radar systems for maritime navigation and surveillance. Marine radars use radio waves to detect and track objects such as other vessels, land formations, and navigational hazards, providing essential information for safe navigation and situational awareness at sea.
The COVID-19 pandemic has had a mixed impact on the marine radar market. On one hand, the pandemic has disrupted global supply chains, manufacturing processes, and project timelines, leading to delays in the production and delivery of marine radar systems. Additionally, the economic downturn caused by the pandemic has affected the shipping and maritime industries, resulting in reduced demand for new radar installations and upgrades. However, the pandemic has also highlighted the importance of maritime safety and security. The need for efficient navigation systems and vessel tracking capabilities has become even more critical during times of crisis.
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Key Players
Some of the market key players are Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), FURUNO ELECTRIC CO.LTD. (Japan), Raytheon Company (US), Saab AB (Sweden), BAE Systems (UK), Garmin Ltd (US), FLIR Systems, Inc. (US) and Kongsberg Group (Sweden) and Alphatron Marine B.V. (The Netherlands)
Market Segmentation
The Global Marine radar market has been segmented into type and application.
By Type: S Band and X Band
By Application: Fishing Vessel, Merchant Marine, Military Naval and Recreational Boat
Regional Analysis
North America, particularly the United States, holds a significant share in the market due to its extensive coastline and active maritime industry. Europe also has a strong market presence, driven by countries with large shipping sectors like Germany, the Netherlands, and the United Kingdom. Asia Pacific is experiencing rapid growth in the marine radar market, fueled by increasing maritime trade and the development of ports and coastal infrastructure.
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The Middle East and Africa region is witnessing growth in the market due to its strategic location for international shipping routes and investments in maritime surveillance systems. Latin America has a smaller market share but is witnessing increased adoption of marine radar technologies, particularly in countries with significant fishing and shipping activities.
Related reports:
Doppler Radar Market Research Report by Type (Pulse Doppler Radar, Ground Based Doppler Radar, Naval Doppler Radar, Air Borne Doppler Radar), by Technology (Coherent Pulsed, Continuous Wave, Frequency Modulation), by End-use Industry (Space, Marine, Aviation, Military Defense), and Region – Global Forecast to 2030
3D Radar Market Research Report Information By Platform (Ground, Airborne and Marine), Frequency Band (C/S/X Band, E/F Band, L Band and Others), Range (Long Range, Medium Range and Short Range) and Region (North America, Europe, Asia-Pacific, Middle East and Rest of the World) – Forecast till 2030
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