Marine Sensors Market by Ship Type (Commercial, Defense, UUV), Application (Ballast and Bilge, Fuel and Propulsion, Navigation and Positioning), Enduse (OEM, Aftermarket), Connectivity, Sensor type and Region - Global Forecast to 2028
[250 Pages Report] The Marine Sensors Market is estimated to grow from USD 1.4 Billion in 2023 to USD 1.9 Billion by 2028, at a Compound Annual Growth Rate (CAGR) of 6.5% from 2023 to 2028. The Marine Sensors Industry is driven by factors such as increasing demand for UUV’s and AUV’, along with the increasing demand of the maritime transportation, navies are focusing on technologically advanced marine vessels.
Marine Sensors Market Forecast to 2028
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Marine Sensors Market Dynamics:
Driver: Growing demand for ROV and AUV propels the demand for marine sensors
ROVs and AUVs are used in offshore oil and gas operations for a variety of tasks, such as inspecting pipelines and platforms, performing maintenance and repair tasks, and conducting seabed surveys. ROVs and AUVs are used in oceanographic research to collect data on a variety of oceanographic conditions, such as temperature, salinity, currents, and waves. This data can be used to study the ocean and its inhabitants, and to develop new oceanographic models. These ROV’s and AUV’s are equipped with various types of sensors such as sonar and other sensors to help operators navigate and perform tasks underwater. For example, ROVs used in offshore oil and gas operations are typically equipped with cameras and sonar to inspect pipelines and platforms for damage. AUVs are typically equipped with a wider range of sensors than ROVs. This is because AUVs are able to operate autonomously and for longer periods of time. This leads as a driving factor for marine sensors market
Restraint: Development of marine sensors that can withstand the harsh and corrosive marine environment
The development of sensors which can withstand harsh and corrosive marine environment is a restrain for the marine sensors market because it is a challenging and expensive task. The marine environment is harsh and corrosive due to a number of factors which includes, the salinity of seawater is high, which can corrode sensors, the temperature of seawater can vary widely, which can also damage sensors, the pressure of seawater increases with depth, which can also damage sensors, biofouling is the growth of marine organisms on surfaces, which can interfere with the operation of sensors.
In order to withstand these harsh conditions, marine sensors must be made from durable materials and be carefully designed to prevent corrosion and biofouling. This makes marine sensors more expensive to develop and manufacture than sensors for other environments. Additionally, the development of new and innovative marine sensors requires significant investment in research and development. This can also be a barrier for companies that are developing marine sensors.
Opportunity: Integration of Artificial Intelligence (AI), Internet of Things (IoT) with advanced marine sensors technology
The integration of AI and IoT is a significant opportunity for the marine sensors market. AI can be used to analyze the data collected by marine sensors to identify patterns and trends that would be difficult or impossible to detect manually. This information can then be used to improve marine safety, efficiency, and environmental protection. AI can be used to analyze data from marine sensors to predict when maintenance is needed. This can help to reduce downtime and costs. AI can be used to monitor data from marine sensors in real time to identify potential problems. This can help to prevent accidents and environmental damage. AI can be used to analyze data from marine sensors to optimize fleet operations. This can help to reduce fuel consumption and emissions. Hence with many other benefits the integration of AI and IoT in marine is a huge opportunity for the marine sensors market.
Challenges: Maintenance Process and Calibration of sensors
The maintenance process and calibration of marine sensors is a challenge for the marine sensors market for a number of reasons such as situations where marine sensors are exposed to a harsh and corrosive marine environment, which can damage sensors and make them inaccurate many marine sensors are located in remote and inaccessible locations, which make it difficult and expensive to perform maintenance and calibration, downtime caused by sensor failures can be very costly for marine operations. Marine sensors are becoming increasingly complex, which makes it difficult and time-consuming to perform maintenance and calibration. These challenges lead to a number of problems, including inaccurate sensors leading to safety hazards and financial losses. Sensor failures causes downtime, which becomes very costly for marine operations. The high cost of maintaining and calibrating marine sensors adds to the overall cost of ownership. Hence the maintenance process and calibration is a challenge for marine sensors market.
Marine Sensors Market Ecosystem:
Based on Enduse, the OEM segment is projected to have the highest share in 2023
Based on Enduse, the marine sensors market has been segmented into OEM and Aftermarket. Original equipment manufacturers (OEMs) have a strong understanding of the needs of their ship owners. They are able to design and develop sensors that meet the specific requirements of their products and are backed with warranties and support. This makes it a convenient one-stop shop for customers. OEMs have a strong sales and distribution network. This allows them to reach a wide range of customers and to provide them with the support they need. Hence, we could se the OEM to have the highest share in 2023 for marine sensors market.
Based on Ship type, the commercial segment of the market is projected to have the highest market share for year 2023.
Based on ship type, marine sensors market has been segmented into commercial, defense and UUV’s. The commercial ship segment has the highest market share in the marine sensors market due to a number of factors, such as the commercial ship fleet is large and growing, which is driving demand for marine sensors, commercial ships are subject to stringent safety and environmental regulations, which require the use of marine sensors, commercial shipping companies are increasingly adopting autonomous ships, which rely heavily on marine sensors, commercial shipping companies are increasingly demanding real-time data from their marine sensors to improve safety, efficiency, and profitability. These are the reasons which mainly contribute to the commercial segment to have the highest market share in the marine sensors market.
Based on application, the fuel and propulsion segment of the market is projected to have the second highest share for 2023.
Based on application, the marine sensors market has been segmented into ballast and bilge system, fuel and propulsion system, refrigeration system, HVAC system, firefighting system, navigation and positioning system and Other. The marine industry is under increasing pressure to improve fuel efficiency and reduce emissions. Marine sensors can help to achieve these goals by providing real-time data on fuel consumption, engine performance, and emissions. Advanced propulsion systems, such as electric and hybrid propulsion systems, are becoming increasingly popular in the marine industry. These systems rely on marine sensors to operate safely and efficiently. Marine engines are subject to a lot of wear and tear. Marine sensors can help to monitor engine health and performance, and to identify potential problems before they cause a breakdown. Hence based on application the fuel and propulsion segment of the marine sensors market has the second highest share for 2023.
Asia Pacific is expected to account for the highest CAGR in the forecasted period.
Asia Pacific is estimated to account for the highest CAGR in the forecasted period. The market growth in this region is expected to be fueled by an advancement in technology and investments in sensors during the forecast period. The major countries considered under this region are the China, India, South Korea, Japan, Australia and Rest of Asia Pacific. The Asia Pacific region is leading the way in the adoption of autonomous ships and UUVs. These vessels rely heavily on marine sensors to operate safely and effectively. The Asia Pacific region is experiencing rapid economic development. This is leading to increased investment in maritime infrastructure and operations, which is driving demand for marine sensors. Governments in the Asia Pacific region is supportive of the marine sensors industry. They are providing financial and other incentives to encourage the development and adoption of marine sensor technologies.
Marine Sensors Market by Region
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Key Market Players
The Marine Sensors Companies are dominated by globally established players such as Honeywell International Inc. (US), Eaton Corporation (Ireland), TE Connectivity (Switzerland), Garmin Ltd. (US), and Curtiss Wright (US) wich covers various industry trends and new technological innovations in the Marine Sensors Companies for the period 2019-2028.
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Report Metric |
Details |
Estimated Market Size |
USD 1.4 Billion in 2023 |
Projected Market Size |
USD 1.9 Billion by 2028 |
Growth Rate |
CAGR of 6.5% |
Market Size Available for Years |
2019-2028 |
Base Year Considered |
2022 |
Forecast Period |
2023-2023 |
Forecast Units |
Value (USD) |
Segments Covered |
By sensor type, by ship type, by connectivity, by enduse, by application |
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
Companies Covered |
Honeywell International Inc. (US), Eaton Corporation (Ireland), TE Connectivity (Switzerland), Garmin Ltd. (US), and Curtiss Wright (US) are some of the major players of marine sensors market. (25 Companies) |
Marine Sensors Market Highlights
This research report categorizes the marine sensors market based on sensor type, ship type, connectivity, enduse, application and region.
Segment |
Subsegment |
By Sensor Type |
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By Application |
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By Connectivity |
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By Enduse |
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By Ship Type |
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By Region |
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Recent Developments
- In July 2023, Curtiss-Wright secured contracts exceeding USD 250 million. These contracts pertain to the supply of propulsion valves, pumps, and advanced instrumentation and control systems for the esteemed U.S. Navy programs, specifically the Virginia-class nuclear-powered attack submarines, Columbia-class submarines, and Ford-class aircraft carriers.
- In March 2022, The U.S. Navy awarded Raytheon, USD 651 million contract to equip all newly commissioned surface ships, ranging from small patrol vessels to massive aircraft carriers, with advanced radar systems capable of detecting and monitoring both hostile missiles and aircraft simultaneously. This contract also includes additional options, potentially increasing its total value to USD 3.16 billion.
- In November 2021 , Eaton entered into aa agreement with the U.S. Department of Defense (DoD) to produce inductive proximity sensors specifically designed for essential operations in challenging naval conditions.
- In October 2022, Teledyne FLIR Defense secured a USD 48.7 million contract to supply Maritime Forward Looking Infrared (MARFLIR) II sensors and various versions of its SeaFLIR® 280-HD surveillance systems to the United States Coast Guard (USCG) under a firm-fixed-price, indefinite-delivery/indefinite-quantity agreement.
Frequently Asked Questions (FAQ’s)
What is the current size of the Marine Sensors Market?
The global Marine Sensors Market size is estimated to grow from USD 1.4 billion in 2023 to USD 1.9 billion by 2028, at a CAGR of 6.5% in the forecasted period.
Who are the winners in the Marine Sensors Market?
Honeywell International Inc. (US), Eaton Corporation (Ireland), TE Connectivity (Switzerland), Garmin Ltd. (US), and Curtiss Wright (US).
What are some of the opportunities of the Marine Sensors Market?
Integration of Artificial Intelligence (AI), Internet of Things (IoT) with advanced marine sensors technology.
What are some of the technological advancements in the market?
Automation, the Internet of Things, and advancement in marine sensors, are some of the technological advancements in the marine sensors market.
What are the factors driving the growth of the market?
The Navies focusing on technologically advanced marine vessels, and Increased need for maritime transportation fuels demand for marine sensors.
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This research study used secondary sources, directories, and databases like D&B Hoovers, Bloomberg Businessweek, and Factiva to identify and collect information relevant to the ship sensors market. Primary sources included industry experts from the core and related industries, preferred suppliers, manufacturers, solution providers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain. All primary sources were interviewed to obtain and verify critical qualitative and quantitative information and assess prospects for the market's growth during the forecast period.
Secondary Research:
The share of companies in the marine sensors market was determined using secondary data made available through paid and unpaid sources and by analyzing their product portfolios. The companies were rated based on the performance and quality of their products. These data points were further validated by primary sources. Secondary sources that were referred to for this research study on the marine sensors market included financial statements of companies offering and developing marine sensor products and solutions and information from various trade, business, and professional associations, among others. Secondary data was collected and analyzed to arrive at the overall size of the marine sensors market, which was further validated by primary respondents.
Primary Research:
Extensive primary research was conducted after obtaining information about the current scenario of the marine sensors market through secondary research. Several primary interviews were conducted with market experts from the demand and supply sides across North America, Europe, Asia Pacific, and Rest of the World. This primary data was collected through questionnaires, emails, and telephonic interviews.
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as vice presidents, directors, regional managers, technology providers, product development teams, distributors, and end users.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products & services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the trends related to sensor type, ship type, application, endues and connectivity. Stakeholders from the demand side, such as CXOs, production managers, engineers, and installation teams of end users of marine sensors, were interviewed to understand the buyer’s perspective on the suppliers, products, service providers, and their current usage and outlook of their business, which could affect the marine vessel sensor market.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Top-down and bottom-up approaches were used to estimate and validate the size of the marine sensors market. The research methodology used to estimate the size of the market includes the following details.
The key players in the ship sensor market were identified through secondary research, and their market shares were determined through primary and secondary research. This included a study of the annual and financial reports of the top market players and extensive interviews with leaders such as directors, engineers, marketing executives, and other stakeholders of leading companies operating in the hybrid aircraft market.
All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analysed to obtain the final quantitative and qualitative data on the marine sensors market. This data was consolidated, enhanced with detailed inputs, analysed by MarketsandMarkets, and presented in this report.
Market size estimation methodology: Bottom-up Approach
Market size estimation methodology: Top-Down Approach
Market Definition
Marine sensors are instruments and devices designed to measure and monitor parameters related to ship activities. These sensors provide real-time data to operators, captains, and crews, enabling informed decision-making and enhancing the safety and efficiency of operations. The definition encompasses sensors that capture information related to navigation, propulsion, environmental conditions, safety, communication, and various other parameters.
Key Stakeholders
- Raw Material suppliers
- Marine sensors manufacturers
- Technology support providers
- Logistics and transport solution providers
- System Integrators
- Government Agencies
- Investors and Financial Community Professionals
Objectives of the Study
- To define, describe, segment, and forecast the size of the marine sensors market based on solution, location, topology, landscape, type, and region.
- To analyze the degree of competition in the market by mapping the recent developments, products, and services of key market players
- To understand the structure of the marine sensors market by identifying its various segments and subsegments
- To identify and analyze key drivers, restraints, opportunities, and challenges that influence the growth of the market.
- To provide an overview of the tariff and regulatory landscape for the adoption of marine sensors across regions
- To forecast the size of market segments across North America, Europe, Asia Pacific, and Rest of the World, along with major countries in each region
- To identify transportation industry trends, market trends, and technology trends currently prevailing in the market
- To analyze micromarkets1 with respect to individual technological trends and their contribution to the total market
- To analyze opportunities in the market for stakeholders by identifying key market trends
- To profile key market players and comprehensively analyze their market share and core competencies2
- To provide a detailed competitive landscape of the market, along with an analysis of business and strategies such as mergers and acquisitions, partnerships, agreements, and product developments in the marine sensors market
- To identify detailed financial positions, key products, and unique selling points of leading companies in the market
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the marine sensors market
- Profiling of additional market players (up to 5)
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the ship sensor market.
Growth opportunities and latent adjacency in Marine Sensors Market