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In 2023, the marine sensor market is expected to be worth USD 1.24 billion, and by 2030, it is expected to be worth USD 1.19 billion, representing a CAGR of 8.5% between 2023 and 2030. The rising need for maritime transportation, technological improvements in sensors, and rising emphasis on safe, pleasant fleets are all contributing factors to the expansion of the marine sensors market.
Sensors are small devices used on many different ships to collect data in real time and monitor the surroundings. These gadgets can be found in many shapes and serve many purposes. Pressure, temperature, flow rate, acceleration, and inclination are just some of the measurements that marine sensors record and provide. In addition, sensors are made intentionally robust to withstand severe environments; they play a crucial part in enhancing a ship's performance and gauging the marine vessel's dependability. Marine sensors also aid in the analysis of real-time data regarding the uses of individual components, which ultimately enhances the efficiency and effectiveness of boats of all kinds.
Rapid improvements in sensors may be prompted by the thriving shipbuilding business, the aftermarket maintenance industry, and the growing demand for cruising as a method of transportation. Modern sensors are also needed in the defense sector to back up highly sophisticated systems like air and missile defense systems and the incorporation of anti-jamming capabilities in naval vessels. These elements are anticipated to drive growth in the marine sensors market throughout the forecasted time period.
Offshore oil and gas operations rely on remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) for a wide range of duties, including pipeline and platform inspections, maintenance and repair, and seafloor surveys. ROVs and AUVs are employed in oceanographic research to collect data on a variety of oceanographic conditions, such as temperature, salinity, currents, and waves. New oceanographic models can be created with this information about the ocean and its inhabitants. These remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) have a variety of sensors, including sonar, to aid in underwater navigation and operation. To check for damage to offshore oil and gas infrastructure, remotely operated vehicles (ROVs) are often fitted with cameras and sonar. AUVs are often outfitted with a wider set of sensors than ROVs. This is because AUVs can function independently and for longer stretches of time than conventional vessels. This is a major market motivator for marine sensors.
A challenge and high cost for the marine sensors industry is the creation of sensors that can endure the harsh and corrosive marine environment. The high salinity of seawater can corrode sensors, the temperature of seawater can vary widely, the pressure of seawater increases with depth, and biofouling, the growth of marine organisms on surfaces, can interfere with the operation of sensors, all of which contribute to the harsh and corrosive nature of the marine environment.
Marine sensors need to be constructed from long-lasting materials and meticulously built to resist corrosion and biofouling. This increases the cost of developing and producing maritime sensors relative to those used in other environments. Furthermore, substantial investment in R&D is needed for the development of new and innovative marine sensors. This can also be a challenge for companies that are developing marine sensors.
Lockdowns were used in response to the coronavirus pandemic in an effort to contain the virus's spread. Manufacturers of maritime sensors were harmed by the crisis as a result of labor shortages. Numerous factories and production facilities had to close as a result of supply chain disruptions. Some governments even openly prevent ships from entering their waters, creating chaos in the worldwide sea transportation infrastructure. Cargo demand has fallen further as a result of transit delays brought on by quarantine regulations. Because of this, some marine and shipping companies failed as a result of the financial difficulties brought on by the drop in shipping and cargo demand. As a result, the need for sensors dropped off during the pandemic.
Advanced vessels are now easier to construct thanks to technological advancements in shipbuilding, new materials, robotics, Big Data, propulsion, smart shipping, and sensors. Thanks to technological development, the marine industry is now able to be eco-friendly while still driving the expansion of international trade. Additionally, sensor technology is the most cutting-edge and rapidly expanding technology today, notably in transportation-related fields. Many inspections of machinery and other manual chores are being replaced by sensor technology. For instance, researchers at KAUST (King Abdullah University of Science and Technology) in November 2022 created an AI-powered chemical sensor that can selectively and sensitively identify gasses.
Report Coverage
Global Marine Sensors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Marine Sensors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Marine Sensors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Marine Sensors market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Marine Sensors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Marine Sensors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BAE System Plc. (U.K.), Garmin Ltd. (U.S.), Gill Instruments (India), Honeywell International Inc. (U.S.), Lockheed Martine Inc. (U.S.), NRG System Inc. (U.S.), Raytheon Company (U.S.), SAAB AB (Sweden), Thales Group (France).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Marine Sensors market based on the below-mentioned segments:
Global Marine Sensors Market, By Type
Acoustic Sensors
Magnetic Sensors
Sonars
Pressure Sensors
Temperature Sensors
Flow and Level Sensors
Others (Magnetometer, Infrared Sensors, Seismic Sensors)
Global Marine Sensors market, By Application
Intelligence & Reconnaissance
Communication & Navigation
Electronic Warfare
Target Recognition
Surveillance & Monitoring
Others (Combat Operations and Command & Control)
Global Marine Sensors Market, By Platform
Military and Defense
Commercial
Global Marine Sensors market, Regional Analysis
Sensors are small devices used on many different ships to collect data in real time and monitor the surroundings. These gadgets can be found in many shapes and serve many purposes. Pressure, temperature, flow rate, acceleration, and inclination are just some of the measurements that marine sensors record and provide. In addition, sensors are made intentionally robust to withstand severe environments; they play a crucial part in enhancing a ship's performance and gauging the marine vessel's dependability. Marine sensors also aid in the analysis of real-time data regarding the uses of individual components, which ultimately enhances the efficiency and effectiveness of boats of all kinds.
Rapid improvements in sensors may be prompted by the thriving shipbuilding business, the aftermarket maintenance industry, and the growing demand for cruising as a method of transportation. Modern sensors are also needed in the defense sector to back up highly sophisticated systems like air and missile defense systems and the incorporation of anti-jamming capabilities in naval vessels. These elements are anticipated to drive growth in the marine sensors market throughout the forecasted time period.
Offshore oil and gas operations rely on remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) for a wide range of duties, including pipeline and platform inspections, maintenance and repair, and seafloor surveys. ROVs and AUVs are employed in oceanographic research to collect data on a variety of oceanographic conditions, such as temperature, salinity, currents, and waves. New oceanographic models can be created with this information about the ocean and its inhabitants. These remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) have a variety of sensors, including sonar, to aid in underwater navigation and operation. To check for damage to offshore oil and gas infrastructure, remotely operated vehicles (ROVs) are often fitted with cameras and sonar. AUVs are often outfitted with a wider set of sensors than ROVs. This is because AUVs can function independently and for longer stretches of time than conventional vessels. This is a major market motivator for marine sensors.
A challenge and high cost for the marine sensors industry is the creation of sensors that can endure the harsh and corrosive marine environment. The high salinity of seawater can corrode sensors, the temperature of seawater can vary widely, the pressure of seawater increases with depth, and biofouling, the growth of marine organisms on surfaces, can interfere with the operation of sensors, all of which contribute to the harsh and corrosive nature of the marine environment.
Marine sensors need to be constructed from long-lasting materials and meticulously built to resist corrosion and biofouling. This increases the cost of developing and producing maritime sensors relative to those used in other environments. Furthermore, substantial investment in R&D is needed for the development of new and innovative marine sensors. This can also be a challenge for companies that are developing marine sensors.
Lockdowns were used in response to the coronavirus pandemic in an effort to contain the virus's spread. Manufacturers of maritime sensors were harmed by the crisis as a result of labor shortages. Numerous factories and production facilities had to close as a result of supply chain disruptions. Some governments even openly prevent ships from entering their waters, creating chaos in the worldwide sea transportation infrastructure. Cargo demand has fallen further as a result of transit delays brought on by quarantine regulations. Because of this, some marine and shipping companies failed as a result of the financial difficulties brought on by the drop in shipping and cargo demand. As a result, the need for sensors dropped off during the pandemic.
Advanced vessels are now easier to construct thanks to technological advancements in shipbuilding, new materials, robotics, Big Data, propulsion, smart shipping, and sensors. Thanks to technological development, the marine industry is now able to be eco-friendly while still driving the expansion of international trade. Additionally, sensor technology is the most cutting-edge and rapidly expanding technology today, notably in transportation-related fields. Many inspections of machinery and other manual chores are being replaced by sensor technology. For instance, researchers at KAUST (King Abdullah University of Science and Technology) in November 2022 created an AI-powered chemical sensor that can selectively and sensitively identify gasses.
Report Coverage
Global Marine Sensors research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Marine Sensors report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Marine Sensors competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Marine Sensors market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BAE System Plc. (U.K.), Garmin Ltd. (U.S.), Gill Instruments (India), Honeywell International Inc. (U.S.), Lockheed Martine Inc. (U.S.), NRG System Inc. (U.S.), Raytheon Company (U.S.), SAAB AB (Sweden), Thales Group (France). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Marine Sensors Market from 2021 to 2030.
- Market Forecast for Marine Sensors Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Marine Sensors competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Marine Sensors
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Marine Sensors market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Marine Sensors market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BAE System Plc. (U.K.), Garmin Ltd. (U.S.), Gill Instruments (India), Honeywell International Inc. (U.S.), Lockheed Martine Inc. (U.S.), NRG System Inc. (U.S.), Raytheon Company (U.S.), SAAB AB (Sweden), Thales Group (France).
Primary Target Market
- Market Players of Marine Sensors
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Marine Sensors market based on the below-mentioned segments:
Global Marine Sensors Market, By Type
Acoustic Sensors
Magnetic Sensors
Sonars
Pressure Sensors
Temperature Sensors
Flow and Level Sensors
Others (Magnetometer, Infrared Sensors, Seismic Sensors)
Global Marine Sensors market, By Application
Intelligence & Reconnaissance
Communication & Navigation
Electronic Warfare
Target Recognition
Surveillance & Monitoring
Others (Combat Operations and Command & Control)
Global Marine Sensors Market, By Platform
Military and Defense
Commercial
Global Marine Sensors market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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