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Marine signaling device is a device that can help in transmitting a digital signal from one location to another in imminent danger or serious conditions. These devices are helpful in pin-pointing the boat location, hence serving as an ideal equipment for means of communication and navigation. Marine signaling device is widely used in cargo ships, passenger ships, and boats. The marine industry is the largest contributor to marine signaling devices, as it serves as an essential product for the safety of life at sea.
COVID-19 impact analysis
The increase in participation of water-based sports and seaborne trade is likely to drive the growth of marine signaling devices market. The recreational sports such as scuba diving and snorkeling are the new trends, and the countries are adapting these sports on a large scale, thus boosting the need for safety equipment for emergency conditions. Marine signaling devices are helpful in instances of distress for seeking help. Â Owing to the rise in passenger boats and cargo ship activities, the revenue for the marine signaling devices market is expected to increase. However, the equipment such as pyrotechnic flares marine signaling devices can reach 3,000 degrees centigrade and if improperly handled will cause serious injury and even fire. Additionally, the boats which are required to carry flares face disposal problems of the flares; these, are the major restraint for the marine signaling devices market which will hamper the growth in the forecast timeframe.
Key market players
Some of the major market players of marine signaling devices market are Forespar, Ocean Signal, Osculati, Perko, Kama Industries, Mrinco, Plarimo, Schmitt & Ongaro, Spinlock, Nrd Solutions, and Hella Marine. Expansions, acquisitions, partnerships, and new product developments are the main focus of these market players to grow their business in the potential markets. They have been focusing on strategies such as organic and inorganic growth developments, including contracts and investments.
Key benefits of the report
Marine Signaling Devices Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Product |
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By Application |
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By Region |
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Key Market Players | Kama Industries, Schmitt & Ongaro, Spinlock, Osculati, Forespar, Perko, Ocean Signal, Plarimo, Mrinco, Nrd solutions, Hella marine |
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