Pune, India, May 11, 2023 (GLOBE NEWSWIRE) -- The global marine sensors market with a valuation of USD 32.36 billion in 2021, has shown robust growth. Projections indicate that the market will reach USD 33.17 billion in 2022 and further expand to USD 45.92 billion by 2029, demonstrating a steady compound annual growth rate (CAGR) of 4.8% throughout the forecast period.
The global marine sensors market is set to gain impetus from their increasing usage in measuring the properties of seawater in the field of oceanography. Fortune Business Insights™ presented this information in an upcoming report, titled, “Marine Sensors Market Forecast 2022-2029.” The report further states that marine sensors are used to measure temperature of the engine oil, hydro acoustic currents, pressure flow of water, sound velocity, and turbidity of water.
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List of Key Players Profiled in the Marine Sensors Market Report:
- BAE Systems PLC (The U.K)
- Garmin Ltd. (The U.S.)
- Gill Instruments (India)
- Honeywell International Inc. (The U.S.)
- Lockheed Martin Corporation (The U.S.)
- NRG Systems Inc. (The U.S.)
- Raytheon Company (The U.S.)
- Saab AB ( Sweden)
- Thales Group( France)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.8% |
| 2029 Value Projection | USD 45.92 Billion |
| Market Size in 2022 | USD 33.17 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 123 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Marine Sensors Market Growth Drivers | Increasing Demand for Autonomous Ships to Surge the Demand for Marine Sensors |
| Internet of Things (IoT) to Enable Smart Work Management for Port Operations Propelling Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/marine-sensors-market-103541#summary
COVID-19 Impact:
The COVID-19 pandemic is a global health emergency that has drastically affected almost every industry. We are providing accurate research reports to help you better understand the underlying issues and potential paths to achieve success. Our reports would offer insights on the pandemic, considering the rapid changes in demand, interventions of governments, re-routing of the supply chain, purchasing patterns, and consumer behavior.
Segments:
By Type
- Acoustic Sensors
- Magnetic Sensors
- Sonars
- Pressure Sensors
- Temperature Sensors
- Flow and Level Sensors
- Others (Magnetometer, Infrared Sensors, Seismic Sensors)
By Platform
- Military and Defense
- Commercial
By Application
- Intelligence & Reconnaissance
- Communication & Navigation
- Electronic Warfare
- Target Recognition
- Surveillance & Monitoring
- Others (Combat Operations and Command & Control)
By Geography
- North America (By Type, By Platform, By Application, and By Country)
- Europe (By Type, By Platform, By Application, and By Country)
- Asia Pacific (By Type, By Platform, By Application, and By Country)
- Middle East & Africa (By Type, By Platform, By Application, and By Country)
- South America (By Type, By Platform, By Application, and By Country)
What Does This Report Contain?
The report provides intelligent insights on new product developments, R&D activities, and future technologies. At the same time, it delivers elaborate information about recent investments, developments, and untapped geographies. Besides, our analysts have conducted an assessment of manufacturing capabilities, strategies, and shares of prominent companies.
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Drivers & Restraints-
Increasing Demand for Thermometric Marine Sensors to Boost Growth
The high demand for thermometric marine sensors for lowering the temperature of marine engines is likely to aid growth. Besides, the rising need to monitor the temperature of the engine oil is anticipated to propel the marine sensors market growth in the near future. Also, the high demand for new generation missiles and air defense systems featuring anti-jamming capabilities and novel sensors in naval vessels would accelerate growth. However, marine sensors have complex designs, which, in turn, may obstruct growth.
Regional Insights-
North America to Remain at Forefront Fueled by Need to Develop Underwater Electronics Support Facility
North America is set to generate the highest marine sensors market share in the upcoming years. This growth is attributable to the surging usage of marine sensors in Canada and the U.S. for setting up a new underwater electronics support facility.
Asia Pacific, on the other hand, is anticipated to show the fastest growth owing to the rising focus of China on developing deep ocean pressure recorders. They will aid the country to detect tsunamis. Besides, in India, the government is striving to create an innovative network of ambient noise measurement stations in shallow waters. In Europe, the presence of numerous marine sensor manufacturers in the U.K., France, and Germany would accelerate growth.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Marine Sensors Market
- Impact of COVID-19 Pandemic on Global Marine Sensors Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Potential opportunities in the industry in Response to COVID-19 Pandemic
- Global Marine Sensors Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Segmental Definitions
- Market Analysis, Insights and Forecast – By Type
- Acoustic Sensors
- Magnetic Sensors
- Sonars
- Pressure sensors
- Temperature Sensors
- Flow and level sensors
- Others
- Market Analysis, Insights and Forecast – By Platform
- Military and Defense
- Commercial
- Market Analysis, Insights and Forecast – By Application
- Intelligence & Reconnaissance
- Communication & Navigation
- Electronic Warfare
- Target Recognition
- Surveillance & Monitoring
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
TOC Continued...!
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Competitive Landscape-
Key Players Focus on Unveiling State-of-the-art Sensors to Gain a Competitive Edge
The global market for marine sensors contains a large number of renowned companies. They are extensively focusing on research and development activities to develop technologically advanced products. Some of the others are trying to gain a competitive edge by winning new orders from reputed firms. Below are the two latest industry developments:
- January 2021: Warwick Control Technologies introduced a new Simulation Kit for enabling users to stimulate LIN, CAN FD, and CAN networks and devices. These higher layer protocols will be used for broadcasting data from marine sensors.
- December 2020: Ocean Infinity placed an order for Sonardyne sensors, especially meant for its robotic vessels. Sonardyne will deliver unique sensor technologies for underwater platform communications, control, tracking, and navigation.
Read Related Insights:
Marine Hybrid Propulsion Market to Hit USD 8,122.2 Million till 2028: High Demand for Fuel-efficient Systems to Boost Growth, report Fortune Business Insights™
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