warranty. This factor is a major drawback hindering the adoption of marine electronics, which
in turn negatively impacts the market growth. Most of the manufacturers in the market do not
provide after sales service, which is another major factor contributing towards minimal adoption
of marine electronics. This in turn negatively impacts the market growth.
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Marine Electronics Market: Regional Analysis
North America and Europe are the largest markets for marine electronic devices. North America
and Europe largely invests in manufacturing of boats and also implements advanced
technologies such as marine electronics in boats. This drives growth of the marine electronics
market. According to a 2017 report of the International Trade Administration (ITA), the total
U.S. exports of marine electronics is expected to grow by 5 percent annually and reach an
estimated US$ 2.4 billion in 2018.
Marine Electronics Market: Competitive Landscape
Key players operating in the global marine electronics market include Transas, Kongsberg
Gruppen, Intellian, Honeywell Process Solutions, Johnson Outdoors Marine Electronics Inc.
(Hummingbird), Atlas Electronics, FLIR Systems, Furuno electric, Garmin, Navico, Neptune
Sonar, and Northrop Grumman.
Marine Electronics Market: Taxonomy
The global marine electronics market is segmented on the basis of end user, display type,
system, and region as mentioned below:
On the basis of end user
o Commercial shipping
o Work Boats
o Naval
o Fishing Vessels
o Recreational Boats
On the basis of display type