Delray Beach, FL, Feb. 17, 2025 (GLOBE NEWSWIRE) -- The Marine Sensors Market is estimated to grow from USD 1.4 Billion in 2023 to USD 1.9 Billion by 2028, at a Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2028. The Marine Sensors Industry is driven by factors such as increasing demand for UUV’s and AUV’, along with the increasing demand of the maritime transportation, navies are focusing on technologically advanced marine vessels.
The development of sensors which can withstand harsh and corrosive marine environment is a restrain for the marine sensors market because it is a challenging and expensive task. The marine environment is harsh and corrosive due to a number of factors which includes, the salinity of seawater is high, which can corrode sensors, the temperature of seawater can vary widely, which can also damage sensors, the pressure of seawater increases with depth, which can also damage sensors, biofouling is the growth of marine organisms on surfaces, which can interfere with the operation of sensors.
Browse 230 market data Tables and 56 Figures spread through 250 Pages and in-depth TOC on "Marine Sensors Market - Global Forecast to 2028"
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Explore the Key Players in the Marine Sensors Industry:
- Honeywell International Inc. (US),
- Eaton Corporation (Ireland),
- TE Connectivity (Switzerland),
- Garmin Ltd. (US), and
- Curtiss Wright (US) among others.
Attractive Opportunities in the Marine Sensors Market
- Market growth can be attributed to the increasing focused on safety and security along with the technological advancements in sensors.
- New product launches and contracts are expected to offer lucrative opportunities to market players in the next five years.
- By enduce, the OEM segment of the marine sensors market is expected to reach USD 1.1 Billion by 2028, growing at a CAGR of 6.1% from 2023 to 2028.
- The market growth in Asia Pacific can be attributed to significant investments in R&D activities and the technological advancements taking place in marine sensors market.
The Market Segmentation Analysis:
Based on Application, the Navigation and positioning segment is estimated to have the second highest CAGR during the forecast period.”
The navigation and positioning segment is projected to grow at the second highest CAGR in the marine sensors market during the forecasted period. Accurate navigation and positioning are essential for safety and efficiency in the maritime industry. This is driving demand for navigation and positioning sensors. Autonomous ships are becoming increasingly popular in the maritime industry. Autonomous ships rely on navigation and positioning sensors to navigate safely. This is driving demand for navigation and positioning sensors in the autonomous ship market.
Based on ship type, the unmanned underwater vehicle segment is estimated to have the highest CAGR in the forecasted period.
The unmanned underwater vehicle segment is projected to grow at the highest CAGR in the marine sensors market during the forecast period. UUVs are becoming increasingly popular in a variety of marine applications, such as oceanographic research, offshore oil and gas operations, and maritime security. Autonomous UUVs rely on marine sensors to navigate safely and to collect data. UUVs can be equipped with a wide range of marine sensors, allowing them to collect data from remote and hazardous environments that would be difficult or dangerous for humans to access. These are the reasons which contribute to the highest CAGR for UUV segment of marine sensors market.
Based on connectivity, the wireless segment is estimated to have the highest CAGR in the forecasted period.
The wireless segment is projected to grow at the highest CAGR in the marine sensors market during the forecast period. Wireless marine sensors can provide real-time data on various environmental conditions in the ocean. This is important for a variety of applications such as navigation and positioning Technological advancements in wireless communication technologies, such as 5G and LTE-M, are making wireless marine sensors more reliable and cost-effective. Hence, we could see the wireless segment holds the highest CAGR during the forecasted period.
Based on region, the Asia Pacific region is estimated to have the highest CAGR and largest share during the forecast period.
The Asia Pacific region is projected to grow at the highest CAGR and largest share during the forecast period. Various technological advancements, increased demand for maritime transportation, and government support have propelled the expansion of the marine sensors market in this region. Asia Pacific region has the world's largest and fastest-growing maritime industry. This is driving demand for marine sensors for use in a variety of applications, such as navigation and positioning, firefighting system, environmental monitoring, and marine research. Asia Pacific region is a major maritime trade route, but it is also a region with rising security concerns. This is driving demand for marine sensors for use in maritime surveillance and security applications. This growth is expected to bring about a transformative shift in marine sensors, revolutionizing the future of marine sensors market.
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Marine Sensors Market Dynamics:
- Driver: Growing Demand for ROV and AUV Propels the Demand for Marine Sensors
- Restraint: Development of Marine Sensors That Can Withstand the Harsh and Corrosive Marine Environment
- Opportunity: Integration of Artificial Intelligence (AI), Internet of Things (IoT) With Advanced Marine Sensors Technology
- Challenges: Maintenance Process and Calibration of Sensors
