Global Ship Radar Scanner Market to Record Exponential Compound Annual Growth Rate in the Coming Years

The COVID-19 pandemic has caused supply and manufacturing disruptions in the automotive sector creating uncertainties in every aspect. The change in customer behavior in terms of mobility preferences during this crisis is changing the automotive landscape. 

This pandemic situation has shut down many production lines owing to the trade restrictions and closed borders, creating a shortage in required parts and limiting the distribution of supplies. Different enforced measures including the closing of workspaces and dismissal of short-time workers have created a depression in the growth rate of the automotive industry. 

The growing fear of recession is estimated to decrease overall sales and revenue. A limited supply of parts coupled with a reduced workforce has forced the leading OEMs to shut down their production. A significant drop in demand has restricted the cash inflow which is highly important in payment of salaries to the workforce. With growing uncertainties around the COVID-19 pandemic, the industry leaders are taking measures to adapt to the situation.

Ship Radar Scanner is marine equipment utilized to detect other vessels and land obstacles to analyze distance and bearing for the navigation and collision avoidance in the Sea. A ship radar scanner is a detection and ranging system that collects radio signals from objects several feet or several miles away from the ship. Safe navigational lookout by the officer of watch (OOW) is the main application of the ship radar scanner. The Ship Radar Scanner is used for many motives such as to calculate bearing and range of a target and to determine speed, course, etc., Integration with other shipboard equipment to derive precise data, differentiating between targets in high traffic density areas, etc. Ship Radar Scanners was primarily developed for military and defense purposes but with developing innovation and technologies and, it caters its wide range of applications in the area of the fishing vessel, Yacht/Recreational Boat, Merchant Marine and more.

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Ship Radar Scanner Market: Drivers and Challenges

The prominent factor for ship radar scanner market is the increasing demand for the guidance and surveillance for the safety of the ships. International Regulations for Preventing Collisions at Sea makes Ship radar scanner compulsory for all types of vessels to avoid and prevent it from the sea collisions. By the mandatory rules and regulations, it is expected to increase the demand for ship radar scanner. The increasing demand for pleasure boats and luxury boats which need to be installed with the Ship radar scanner. This factor has significantly increased the demand of ship radar scanner in the global market.

Maritime transport is the prominent player in the international logistics and transport segment. The safety and efficiency are the key concern for the maritime transport which create the demand for marine safety equipment such as ship radar scanner to avoid sea collisions and safe navigation. The increasing maritime transport is expected witness lucrative growth in the ship radar scanner market.

Travelers among the world are preferring Cruise ship travel owing to several factors such as Luxuries Travel and On Board Smart technology. Passenger preference for cruise travel is maximum in the United States followed by China, Germany, United Kingdom and Australia. The increasing passenger preference for cruise travel expected to bolster the demand for new ship building. Increasing ship building activities are expected to boost the demand for Ship Radar Scanner.

Ship Radar Scanner Market: Segments

The Ship Radar Scanner Market can be segmented on the basis of type covers, Application, Display range and region

On the basis of the type covers, the Ship Radar Scanner Market can be segmented as:

• S-band
• X-band

On the basis of the Application, the Ship Radar Scanner Market can be segmented as:

• Military Naval
• Fishing Vessel
• Yacht/Recreational Boat
• Merchant Marine

On the basis of the Application, the Ship Radar Scanner Market can be segmented as:

• 25 NM to 0.75 NM
• 5 NM to 6 NM
• 12 NM to 24 NM
• More than 24 NM

Ship Radar Scanner Market: Regional Outlook

In North America and Europe, Pleasure boats and Luxury boats demand is increasing owing to the introduction of newer, more economical materials, advanced technology, and increase in the number of luxury boat manufacturers. The Luxury and Pleasure boats are need to equip with ship radar scanner for safety and surveillance. In global shipbuilding industry, 95% of the global market is captured by the China, South Korea and Japan like to three market giants of the shipbuilding industry. The positive outlook of shipbuilding industry is estimated to gain the traction for the ship radar scanner in the Respective Regions. East Asia is expected to dominate the ship radar scanner market owing to increasing requirement of guidance and surveillance, growing cargo shipment activities, shipbuilding activities and inclining travel preference for cruise travelling.

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Ship Radar Scanner Market: Key Participants

List of some of the prominent market participants in the Ship Radar Scanner Market includes:

• FLIR Systems
• Northrop Grumman Sperry Marine B.V.
• HENSOLDT
• Terma A/S
• Guidance Marine
• Lockheed Martin Corporation
• Raytheon Company
• Raymarine Inc.
• West Marine
• Furuno Electric Co. Ltd.

The Ship Radar Scanner research report presents a comprehensive assessment of the Ship Radar Scanner market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Ship Radar Scanner market segments such as geographies, application, and industry.

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