Marine Radar Market Size, Share, Emerging Audience, Key Findings and Forecast to 2023

Research Reports

Jan 19, 2021

Market Overview

Global Marine Radar Market is showing a moderate chance of growth with a 2.9% CAGR during the forecast period covering 2019 to 2023. Market Research Future (MRFR) revealed several factors that could bolster the global market in the coming years.

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Competitive Landscape

The global market for Marine Radar is expected to make a significant profit due to the impact of companies like Northrop Grumman Corporation (US), Lockheed Martin Corporation (US), Raytheon Company (US) and FURUNO ELECTRIC CO.LTD. (Japan), BAE Systems (UK), Garmin Ltd (US), Saab AB (Sweden), Kongsberg Group (Sweden), FLIR Systems, Inc. (US), and Alphatron Marine B.V. (The Netherlands).

Industry News

In April 2020, Seatronx announced the launching of the Seatronx RRD-19T, which features a 19-inch display and portrait orientation designed that has been produced for river radar systems. Its portrait format includes features that provide extra support for guidance and tracking down the river while maintaining proper traffic, weather, and markers in various narrow channels. The RRD-19T is easy to install and has black box radars such as Furuno or Koden. The display has a LED TFT screen that produces a clear and contrast-strong image for both day and night and also has a feature to adapt to any kind of lighting condition. The display is full HD resolution and offers the best view in sunlight and through polarized eyewear.

Segmentation

Global Marine Radar Market, as discussed in the reports of MRFR, has been segmented on the basis of type and application. The global market for marine radar would benefit from the detailed analysis as it is loaded with various factors and figures.

By application, the recent study on the marine radar market has been segmented into merchant marine, military naval, fishing vessel, and a recreational boat. The merchant marine segment has the maximum market share due to various marine trades. But the military naval system is expected to register the fastest growth to support the growing demand for better security.

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Regional Analysis

North America has the scope to dominate the global market for marine radar. This is primarily due to the hike in investment for defense and other sectors from a country like the US. Also, major companies of the sector operate from the region, owing to which the revenue generation process becomes easier.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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