Global Marine Radar Market: Overview
The marine radars are short range radars used majorly by navy of many countries. These radars help the navy to locate the any land or other ships from the ship on the seas. It can also determine the ships that are lost in the depth of the seas and locate the personnel who is lost from the ships. Over the last decade, marine travel has become comparatively safe as the marine radars help in avoiding the sea accidents. The system has proved useful in various cases such as war, as ships are now capable to keep track of enemy ships. Over the years, the marine radar technology has evolved greatly due to the inclusion of the Automatic Radar Plotting Aids (ARPA) in the radar systems.
In a report, Transparency Market Research presents its data compiled on the global marine radar market. The report presents value adding insights about the key trends, major developments, the geographical dominance of the fatty amides market and its key players.
Global Marine Radar Market: Notable Developments and Competitive Analysis
Key marine radars market players dominates the global marine radar market. These players are investing heavily on research and development in order to provide innovative solutions in order to provide competitive edge over their competitors. They are also developing technologies to enhance the range of their exiting radars and are getting involved various government tenders in order to major navy contracts in order to gain major profit in the global marine radar market.
Key players of Lockheed Martin Corporation, Saab AB, Kelvin Hughes Limited, BAE Systems, Raytheon Company., Terma A/S and Raymarine Inc, Furuno Electric Co., Ltd., West Marine, and Northrop Grumman Corporation.
The competition is expected to highly intensify with an increase in the number of players during the next few years. Several companies are looking forward to expand their geographical extents as well as product portfolios. With several changes taking place in defense systems all over the globe, companies in the market are looking forward at several opportunities to bring in developments.
Global Marine Radar Market: Key Drivers
The global marine radar market’s growth is influenced by the rising demand of weapon guidance application and surveillance. Additionally, factors such as increasing military expenditure by developed economies is also bolstering the market growth. The growth in purchasing powers of various countries has also ignited the race for the businesses on the top of game for global marine radar market. Also, the influx of various businesses into marine tourism is yet again elevated the use of marine radars. This factor also attributes in the growth of global marine radar market.
The support of governments by making it mandatory the installation of marine radars in the ships and boats so that marine collision are avoided is making the global marine radar market to grow exponentially in the forecast period of 2019 to 2027.
Global Marine Radar Market: Regional Analysis
Globally the marine radar market has its presence across various regions. However, the region of Asia pacific shall dominate the global marine radar market in the forecast period. The reason for this dominance is the fact that more than half of the shipbuilding activities are carried out in the developing countries such as South Korea, Japan, and China. In addition to it, the European companies are moving their base and are dealing with manufacturers of China as there is a benefit of cost advantage.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.