Naval Sensors Market

Naval Sensors Market Outlook 2030 -

Marine sensors are devices that are used to measure various parameters of marine vessels such as temperature, flow rate, level sensors, radar gauges, and others. These devices help in the analysis of the real-time data from various components and aid in improving the performance of the ship. Detection systems, which are integrated onto Naval Platforms, detect both systems as well as environmental changes associated with the platform. The premier information is used to develop strategic plans for naval operations. While the data obtained for system functionality is used by technology innovators to monitor the operation and maintenance aspects of the product. The flourishing shipbuilding industry as well as the increase in popularity of cruising as a means of transportation is projected to make way for tremendous growth advancements in the marine sensors market. Advanced sensors are also required in the defense sector for the integration of anti-jamming capabilities in the naval vessels as well as to support novel air and missile defense systems. These components serve as the link between the detection system and the environment. They are integrated onto the surface of technologies such as RADAR, SONAR, LIDAR, and EW systems to improve the combat abilities of a vessel.

COVID-19 Impact Analysis

The government initiative of lockdown to slow the spread of COVID-19 has impacted the military sensor developers due to workforce shortage. Sensor manufacturers are experiencing a lack of components supply, required for the development & manufacturing of naval sensors, as a result of the supply chain disruption caused by the COVID-19. Defense contractors that rely on the international workforce are experiencing short -term operational issues, due to government-imposed restrictions on travel to control the COVID-19 outbreak. Defense agencies are being forced to delay ongoing projects as well as research & development to comply with the lockdown imposed by authorities.

Top Impacting Factors

• Growth in munition technology, as well as anti-ship/anti-submarine warfare systems, rise in naval threats, and increase in investments in autonomous ships projects drive the growth of the market.

• Landlocked countries serve as a key restraint for the market growth.
• The surge in naval modernization programs can be seen as a market investments opportunity.

The Naval Sensor Market Trends are as Follows:

Increased Investments in Autonomous Ships Projects

Autonomous ships are considered to hold significant market potential by several companies across geographies. These ships are expected to promote safe, efficient, and sustainable operations in the marine industry., South Korea has launched a project in 2019 to develop MASS by 2025. The aim is to construct vessels with the third level of autonomy as defined by the International Maritime Organization. The Korean Ministry of commerce, industry and energy as well as the Ministry of Oceans and Fisheries have formed a specific working group for the project and have allocated USD 132 million to it. The project aims to develop key technologies for autonomous navigation and system autonomy while also laying the foundation for early commercialization. Furthermore, autonomous ships utilize state-of-art sensors such as ultrasonic fuel flow sensor, capacitive fuel level sensor, light detection and ranging (LiDAR), and other sensors. Hence, the development of state-of-art sensors for autonomous ships will drive the global naval sensors market.

Key Benefits of the Report:

• This study presents the analytical depiction of the naval sensor market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with challenges of the naval sensor market.
• The current market is quantitatively analyzed to highlight the growth scenario of the naval sensor market.
• The report provides a detailed naval sensor market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Naval Sensor Market Research Report:

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

 Naval Sensors Market Report Highlights