Marine Radar Market

Marine Radar Market Outlook – 2027 

Marine radar system is an electromagnetic ranging and detection system that uses rotating antennae to sweep a narrow beam of microwaves around water surface surrounding a ship to horizon and detects targets by reflected microwaves, hence displaying surroundings on a display screen. These systems provide bearing and distance for navigation and collision avoidance at sea as they offer high accuracy, precision, and are able to detect moving and stationary objects in dense climatic conditions such as rain or fog. 

Marine radar systems with X-band of 10 GHz frequency are used to impart safety at sea to cargo and crew and to guide captains to maneuver within few feet in extreme conditions of rain or fog. In addition, these systems are integrated in an array of marine instruments such as chart plotters, sonar, two-way marine radio, satellite navigation receivers to forecast and detect spacecraft, aircraft, missiles, and weather as they have robust design and radar signals can penetrate through insulators. Incorporation of 3D displays in advanced marine instruments enable to view above, below, and around ships that implies the marine radar market share would undergo steady growth in coming years.

The global marine radar market is segmented on the basis of product type, application, industry vertical, and region. Based on product type, the marine radar market is categorized into S-Band, X-Band, and Others. In terms of application, the market is categorized into fishing vessel, recreational boat, merchant marine, and others. On the basis of industry vertical, the market is segmented into naval. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Top Impacting Factors

Rise in inclusion of advanced marine radar systems to fulfil surge in demand for weapon guidance application and navigation purposes at sea in the military and defense sector is the major factor that propels the marine radar market growth. However, high fluctuations and volatile nature of raw material prices, uncertainties in the ship-building industry and adverse climatic conditions result in malfunctioning of marine radar systems, which tend to restrain the growth of the market.

On the contrary, adoption of marine radars in cruise ships and luxury boats to avoid collisions during marine tourism as well as rise in international trade further boosts the market revenue. Ongoing technological advancements to enhance range of existing radar systems as well as government regulations regarding mandatory installation of marine radar systems in vessels and boats are anticipated to pave new avenues to the industry.

New Product Launches to Flourish the Market

Worldwide leading marine radar market players adopt necessary steps to improve accuracy and performance of wave detection process, thereby delivering greater efficiency, safety, and better environmental performance for maritime customers.

In April 2019, Wartsila, a global leader in marine technology, launched RS-24 high resolution radar, first commercial K-band maritime radar that can detect small objects at a far distance at high resolution. RS24 provide safety in busy shipping lanes and congested ports as it enables large ships to view small vessels or other potential hazards near them. 

This radar assists in autonomous navigation for cruise ships and ferries that make frequent routine missions, hence improving operational safety and efficiency. It provides highest resolution images in zones where conventional radar cannot penetrate and enhance situational awareness by integrating images with onboard navigational system for complete wide coverage. This advanced technology provides close range fidelity and offers situational awareness in ship radars, hence reducing chances of collision and damage in busy ports.  

Surge in Use in Automotive and Industrial Applications

In March 2020, Seatronx, a manufacturer and distributor of rugged electronics, launched sunlight-readable RRD-19T river radar display, especially for river radar systems used in river based commercial vehicles. It is easily installable in dash top configuration and compatible with black box radars. RRD-19T offers eight inputs that eliminates the need for additional switching systems and enables users for vessel monitoring and navigation purposes. 

It offers clear, contrast-strong, full HD resolution images, and provides viewing angles and visibility through polarized eyewear as well as wide range dimming to accommodate any lighting condition. It features sealed front panel to withstand challenging environments and remote keypad for complete control along with wide operating temperature range, hence providing end users ultimate flexibility. This inland navigation solution displays critical information in challenging environments thereby maintaining safety of both crew and cargo.

Key Benefits of the Stakeholders

• The study gives an analytical overview of the marine radar market forecast with current trends and future estimations to determine imminent investment pockets.
• The report provides information related to key drivers, restraints, and opportunities along with detailed marine radar market analysis.
• The current marine radar market trends are quantitatively analyzed.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

COVID-19 Scenario Analysis 

• Emergence of coronavirus has become a disastrous issue worldwide. There is a halt in production process, owing to the global lockdown scenario causing disruption in the overall supply chain of pulse radar systems. COVID-19 outbreak has also caused lag in meeting demands of end users as the epicenter of the virus outbreak Wuhan, China, accounts for the largest manufacturing items of electronic components. 
• The marine radar industry is anticipated to face huge negative impact, owing to lack of workers, unprecedented shutdown of automotive operations in the industrial sector followed by ban on transportation in response to crisis. Due to ban on international trade as well lockdown in the tourism sector has caused overall marine radar market revenue to suffer high demand lapse. Emergency services in the naval sector for defense purposes tend to drive demand and sales revenue of the product at a sluggish rate. 

Questions Answered in the Marine Radar Market Research Report

• Who are the leading market players active in the marine radar market?
• What would be the detailed impact of COVID-19 on the marine radar market size?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the marine radar market?
• What are the projections for the future that would help in taking further strategic steps?

 Marine Radar Market Report Highlights