Marine navigation is the process of guiding the movement of a ship/vessel in water. The method chosen for the process of navigation changes from perspective to perspective. Evolution in the method chosen has been drastic, especially in the past century, due to the advancement in the field of science and technology. This evolution is also reflected on the electronic devices used for the betterment of the process. Radar, auto pilot and safety systems are some of the most commonly used electronics based systems on a ship. The market for marine navigation has been on the rise mainly due to commercial reason which includes the transportation of goods, usually from one country to another. Military makes use of these systems as a part of their fleet, to enhance their defense division. All these factors are set to drive the market to reach $XXm by 2022 growing at a CAGR of XX% during 2016-2022.
The segmentation of the market is done on the basis of vessel type, navigation type and electronics type. In vessel type, the most preferred types are bulk carriers and container ships, and are used mainly for the purpose of carrying goods across countries. Ferries and cruise ship also find their application in tourism industry thus driving the marine electronics and navigation market. Celestial navigation was most prominently used when the technology was not advanced and navigators had to resort to patterns in nature to guide them during their journey. Satellite is the most commonly used technique and has seen a lot of innovation within the past decade. The Most Prominent type of electronics used in the market is Radar. It has become an unavoidable part of marine electronics.
In terms of geography North America lead the market closely followed by Europe and APAC in 2015. The U.S. is the leading market in North America due to its dominance in trade related matters, which are directly related to navigation. European countries like Germany, U.K and France also have an advanced navigation market and are among the prominent countries for the marine electronics and navigation marekt.
Sample Companies profiled in the report are:
- Honeywell International Inc. (U.S.),
- Thales Usa, Inc. (France),
- Jeppesen Sanderson, Inc. (U.S.)
- Rockwell Collins, Inc.(U.S.)