New York, According to a new market research report published by Global Insight Services “Marine Radar Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Radar is an object-detection system that uses radio waves to determine the range, angle, or velocity of objects. It can be used to detect aircraft, ships, spacecraft, and terrain. Marine radar is used to detect and track objects in the maritime environment, including other ships, land masses, icebergs, and weather systems. Marine radar can be used for navigation, to avoid collisions, and to track and predict the movement of storms.
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Key Trends
There are several key trends in marine radar technology.
One is the development of more compact and lightweight radar units. This is important for both recreational and commercial vessels, which are often limited in space.
Another trend is the development of more sophisticated radar units that can provide greater accuracy and more information. This is especially important for commercial vessels, which need to be able to navigate safely and efficiently.
Finally, there is a trend toward more affordable radar units. This is important for both recreational and commercial users, who often have to purchase several units to outfit their vessels.
Key Drivers
Some of the key drivers of the Marine Radar market include the increasing need for maritime security, the growing popularity of recreational boating, and the need for efficient navigation in congested waterways. Maritime radar is used extensively by coast guards and navies around the world to monitor shipping traffic and protect coastal areas from potential threats. The recreational boating market is also a major driver of the Marine Radar market, as boaters increasingly demand navigational aids that can help them safely navigate crowded waterways. Marine Radar systems are also becoming increasingly popular as navigational aids on large commercial vessels, as they offer superior accuracy and range compared to traditional GPS systems.
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Market Segments
The Marine Radar Market is segmented on the basis of type, application, and region. By type, it is classified into S band and X band. On the basis of application, the market is divided into fishing vessel, merchant marine, military naval, and recreational boat. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Marine Radar Market report includes players such as FURUNO Electric Co., Ltd., Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, Saab AB, Japan Radio Co. Ltd, BAE Systems, JRC (Alphatron Marine), Garmin, and Wärtsilä SAM Electronics GmbH.
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Reasons to buy Marine Radar Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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