What is the global market size of Marine Electronics Market?

Global Marine Electronics Market size was valued at USD 5.70 Billion in 2022 and is poised to grow from USD 6.00 Billion in 2023 to USD 9.00 Billion by 2031, at a CAGR of 5.20% during the forecast period (2024-2031).

Who are the key vendors in the Global Marine Electronics Market?

The global marine electronics market is highly competitive, with several prominent companies operating in the industry. These companies compete based on factors such as product innovation, technological advancements, quality, pricing, and customer service. 'Garmin Ltd. (Switzerland)', 'Raymarine (FLIR Systems) (United States)', 'Furuno Electric Co., Ltd. (Japan)', 'Navico (Norway)', 'Kongsberg Gruppen (Norway)', 'Icom Incorporated (Japan)', 'FLIR Systems, Inc. (United States)', 'Humminbird (Johnson Outdoors Inc.) (United States)', 'ABB Ltd. (Switzerland)', 'Thales Group (France)', 'JRC (Japan Radio Co., Ltd.) (Japan)', 'Wärtsilä Corporation (Finland)', 'Simrad Yachting (Navico) (Norway)', 'Lowrance (Navico) (Norway)', 'B&G (Navico) (Norway)', 'McMurdo Group (Orolia Group) (United Kingdom)', 'GME Electrophone Pty Ltd (Australia)', 'Sailor (Cobham SATCOM) (Denmark)', 'Standard Horizon (Japan Radio Co., Ltd.) (Japan)', 'Maretron (Carling Technologies) (United States)', 'Digital Yacht Ltd. (United Kingdom)', 'Hatteland Display AS (Norway)'

Top Marine Electronics Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Marine Electronics Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Marine Electronics industry players.

Marine Electronics Market Competitive Landscape

Marine Electronics Market Top Player’s Company Profiles

Garmin Ltd. (Switzerland)

Raymarine (FLIR Systems) (United States)

Furuno Electric Co., Ltd. (Japan)

Navico (Norway)

Kongsberg Gruppen (Norway)

Icom Incorporated (Japan)

FLIR Systems, Inc. (United States)

Humminbird (Johnson Outdoors Inc.) (United States)

ABB Ltd. (Switzerland)

Thales Group (France)

JRC (Japan Radio Co., Ltd.) (Japan)

Wärtsilä Corporation (Finland)

Simrad Yachting (Navico) (Norway)

Lowrance (Navico) (Norway)

B&G (Navico) (Norway)

McMurdo Group (Orolia Group) (United Kingdom)

GME Electrophone Pty Ltd (Australia)

Sailor (Cobham SATCOM) (Denmark)

Standard Horizon (Japan Radio Co., Ltd.) (Japan)

Maretron (Carling Technologies) (United States)

Digital Yacht Ltd. (United Kingdom)

Hatteland Display AS (Norway)

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FAQs

Marine Electronics Market size was valued at USD 7.14 Billion in 2024 and is poised to grow from USD 7.6 Billion in 2025 to USD 12.58 Billion by 2033, growing at a CAGR of 6.5% during the forecast period (2026–2033).

The global marine electronics market is highly competitive, with several prominent companies operating in the industry. These companies compete based on factors such as product innovation, technological advancements, quality, pricing, and customer service. 'Furuno Electric Co., Ltd. (Japan)', 'Kongsberg Maritime (Norway) ', 'Wärtsilä Corporation (Finland) ', 'Elcome International LLC (United Arab Emirates) ', 'Maretron (United States) ', 'Centena Group (United Arab Emirates) ', 'Japan Radio Co., Ltd. (Japan) ', 'Samyung ENC (South Korea) ', 'Becker Marine Systems GmbH (Germany) ', 'Garmin Ltd. (United States) ', 'Totem Plus (Israel) ', 'Inmarsat (United Kingdom) ', 'Imtech (Netherlands) ', 'Iridium Communications Inc. (United States) ', 'KVH Industries, Inc. (United States) ', 'Marine Technologies LLC (United States) ', 'Si-Tex (United States)'

The leisure boating sector has witnessed substantial growth, fueled by rising disposable incomes, tourism, and a growing interest in outdoor recreational activities. Marine electronics, such as GPS devices, chart plotters, and fish finders, enhance the safety and navigation capabilities of recreational boats, providing boaters with features like route planning, real-time weather updates, and fish detection. This has led to increased adoption of marine electronics in the recreational boating market.

Emphasis on Sustainable and Eco-friendly Solutions: The maritime industry is increasingly focusing on sustainability and reducing its environmental impact. This trend is influencing the marine electronics market, leading to the development of eco-friendly solutions. For instance, there is a growing demand for energy-efficient marine electronics systems that minimize power consumption. Furthermore, the adoption of emission control systems, including ballast water treatment systems and exhaust gas cleaning systems, requires integration with marine electronics for effective monitoring and control.

North America is the largest market for marine electronics, accounting for a market share of over 35% in 2023. This is due to the presence of a large number of commercial and recreational vessels in the region. The United States and Canada are the major markets for marine electronics in North America. The region expects to require marine engine manufacturers to provide engines that comply with US EPA New Source Performance Standards (NSPS). The region's marine propulsion engine market is anticipated to grow more quickly than the average global rate due to the expansion of seaborne trade.

Top Marine Electronics Companies

Marine Electronics Market Competitive Landscape

FAQs

What is the global market size of Marine Electronics Market?

Who are the key vendors in the Marine Electronics Market?

What is the key driver of Marine Electronics Market?

What is the key market trend for Marine Electronics Market?

Which region accounted for the largest share in Marine Electronics Market?

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