The Maritime Industry Enters a New Era of Fleet Modernization and Digitalization
International trade, supply-chain resilience, environmental regulations and geopolitical priorities
....see more
The Weather Monitoring Systems market is projected to grow from USD 1.10 billion in 2026 to USD 1.40 billion by 2031 at a CAGR of 5.0%. The key players Vaisala (Finland), DTN (US), Accuweather, Inc. (US), The Weather Company LLC (US), and StormGeo (Norway).
The electric boats market is projected to grow from USD 4.39 billion in 2026 to USD 10.60 billion in 2031 at a CAGR of 19.2%. The Key Players Brunswick Corporation (US), Groupe Beneteau (France), Arc Boat Company (US), Candela Technology AB (Sweden), and AZIMUT | BENETTI GROUP (Italy)
The methanol engines market is expected to reach USD 0.79 billion in 2026 and USD 5.39 billion in 2035, exhibiting a CAGR of 24.0% during the forecast period. Everllence SE, Wartsila, Rolls-Royce, Yanmar Holdings Co., Ltd., and Anglo Belgian Corporation are the major key players in the methanol engines market.
The Digital Shipyard market is expected to register USD 1.80 billion in 2025 and is projected to reach USD 4.30 billion by 2030 with a CAGR of 19.0%. Siemens, Dassault Systèmes, Accenture, SAP, and BAE Systems are the major key players in the Digital Shipyard market.
The electric ship market is expected to grow from USD 4.85 billion in 2025 to USD 18.39 billion by 2032, at a compound annual growth rate (CAGR) of 21.0% during the forecast period. The Key Players ABB (Switzerland), Wartsila (Finland), Kongsberg (Norway), GE Vernova (US), VARD AS (Norway), Siemens (Germany), Leclanché (Switzerland), BAE Systems (UK), Saft (France), Norwegian Electric Systems (Norway), Everllence (Germany), Corvus Energy (Norway), Anglo Belgian Corporation (Belgium), SCHOTTEL Group (Germany), Danfoss (Denmark), Fjellstrand AS (Norway), Søby Shipyard (Denmark), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), ECO Marine Power (Japan), Damen Shipyard Group (Netherlands), EST-Floattech (Netherlands), and Baltic Workboats AS (Estonia).
The Dynamic Positioning System Market is expected to grow from USD 6.36 billion in 2025 to USD 8.65 billion by 2030, at a compound annual growth rate (CAGR) of 6.3% during the forecast period. The Key Players Kongsberg Maritime (Norway), Wärtsilä (Finland), GE Vernova (US), ABB (Switzerland), Sirehna (France), NAVIS (Russia), Rolls-Royce plc (UK), RH Marine Netherlands B.V. (Netherlands), Praxis Automation Technology B.V. (Netherlands), Japan Radio Co. (Japan), Royal IHC (Netherlands), Brunvoll AS (Norway), Twin Disc, Inc. (US), AB Volvo Penta (Sweden), and L3Harris Technologies, Inc. (US).
The Marine Battery Market is expected to grow from USD 882.3 million in 2024 to USD 1,506.0 million by 2030, at a compound annual growth rate (CAGR) of 9.3 % during the forecast period. The key players Siemens Energy (Germany), Leclanché SA (Switzerland), Corvus Energy (Canada), Toshiba Corporation (Japan) and EnerSys (US).
The Land Survey Equipment market is expected to grow from USD 9.0 Billion in 2023 to USD 11.7 Billion by 2028, at a compound annual growth rate (CAGR) of 5.2% during the forecast period. The key players are Hexagon AB (Sweden), Trimble Inc. (US), Topcon (Japan), CHC-Navigation (China), Hi-Target (China), U-Blox Holdings AG (Switzerland), and Hudaco Industries (South Africa). Other key players in the market are Robert Bosch GmBH (Germany), GeoTech (Russia), and Guangdong Kolida Instruments (China).
The Marine Onboard Communication and Control Systems market is expected to grow from USD 8.6 billion in 2023 to USD 12.3 billion by 2028, at a compound annual growth rate (CAGR) of 7.3% during the forecast period.The key players Emerson Electric Co. (US), Wartsila (Finland), Kongsberg (Norway), ABB (Switzerland), and Northrop Grumman Corporation (US).
The Marine Sensors Market is expected 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% during the forecast period. The key players are Honeywell International Inc. (US), Eaton Corporation (Ireland), TE Connectivity (Switzerland), Garmin Ltd. (US), and Curtiss Wright (US).
The Weather Forecasting Services market is expected to grow from USD 1.9 billion in 2023 to USD 2.8 billion by 2028, at a compound annual growth rate (CAGR) of 8.2% during the forecast period.The Major players DTN (US), Accuweather (US), Fugro (Netherlands), and Enav S.P.A. (Italy).
The Connected Ship market is expected to grow from USD 11.3 billion in 2023 to USD 17.2 billion by 2028, at a compound annual growth rate (CAGR) of 7.7 % during the forecast period.The Major players ABB (Switzerland), Emerson Electric Co. (US), Wartsila (Finland), Kongsberg Gruppen ASA (Norway), and Thales Group (France).
The Marine Electric Vehicle market is expected to grow from USD 10.1 billion in 2022 to USD 29.1 Billion by 2030, at a compound annual growth rate (CAGR) of 16.4 % during the forecast period.The Major players ABB (Switzerland), Siemens AG (Germany), BAE Systems (UK), General Electric (US), and Kongsberg Gruppen (Norway).
The Marine Actuators and Valves Market is expected to grow from USD 2.8 Billion in 2022 to USD 3.6 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period. The Major players are Moog Inc. (US), Honeywell International Inc. (US), Rotork plc (UK), Emerson (US), Curtiss-Wright Corporation (US), IMI plc (UK), Flowserve Corporation (US), Rockwell Automation (US) and Kitz Corporation (Japan).
The Full-Body Scanners Market is expected to grow from USD 153 million in 2022 to USD 302 million by 2027, at a compound annual growth rate (CAGR) of 14.5% during the forecast period.The Major players Smiths Detection (UK), Leidos Security Detection & Automation (Scotland), LINEV Systems (UK), OD Security (Netherlands), and Tek84 Inc. (US).
The degaussing system market is expected to grow from USD 619 Million in 2022 to USD 740 Million by 2027, at a compound annual growth rate (CAGR) of 3.6% during the forecast period. The major players in the degaussing system market Wartsila (Finland), Larsen & Turbo Limited (India), Ultra Electronics Holdings plc (UK), L3Harris Technologies, Inc. (US), and American Superconductor Corporation (US).
The integrated bridge systems market is expected to grow from USD 6.1 Billion in 2022 to USD 7.9 Billion by 2027, at a compound annual growth rate (CAGR) of 5.4% during the forecast period.The major players Raytheon Technologies Corporation (US), Northrop Grumman Corporation (US), Wärtsilä Corporation (Finland), Kongsberg (Norway), and Furuno Electric Co. Ltd. (Japan).
The DC-DC Converter Market size is expected to grow from USD 4.9 Billion in 2022 to USD 6.4 Billion by 2027, at a compound annual growth rate (CAGR) of 5.1% during the forecast period. The Key Players are TDK Lambda Corporation (Japan), Texas Instruments Incorporated (US), Delta Electronics (Taipei), Flex Ltd. (Singapore), and Infineon Technologies AG (Germany).
The Port equipment market is expected to grow from USD 18.2 billion in 2022 to USD 20.0 billion by 2027, at a compound annual growth rate (CAGR) of 1.9 % during the forecast period.The Key Players Kalmar (Finland), Liebherr Group (Switzerland), Konecranes Abp (Finland), Sany Heavy Industry Co., Ltd. (China), and Shanghai Zhenhua Heavy Industries (ZPMC) (China).
The autonomous ships market is expected to grow from USD 3.9 billion in 2022 to USD 8.2 billion by 2030, at a compound annual growth rate (CAGR) of 9.6% during the forecast period.The Major players Kongsberg Maritime (Norway), Fugro (Netherlands), Hyundai Heavy Industries (South Korea), BAE Systems (UK), and Rolls-Royce PLC (UK).
The Marine seats market is expected to grow from USD 1.6 billion in 2022 to USD 1.9 billion by 2027, at a compound annual growth rate (CAGR) of 4.9% during the forecast period.The Major players West Marine (US), Sun Marine (Netherlands), Recaro (Netherlands), Allsalts (Canada), and Shockwave (Canada).
MarketsandMarkets: The robotics and automation actuators market size is projected to reach USD 35.8 billion by 2027; at a CAGR of 13.9% during the forecast period. ABB (Switzerland), Rockwell Automation (US), Altra Industrial Motion (US). Moog (US), SMC (Japan), Curtis Wright (Exlar) (US), and MISUMI (Japan) are some of the leading players covered in the robotics and automation actuators market report.
The Vessel Traffic Management Market is projected to reach USD 8.7 billion by 2027, at a CAGR of 8.4% during the forecast period. Key players operating in the vessel traffic management market include Kongsberg Gruppen (Norway), Saab SA (Sweden), Leonardo S.p.A. (Italy), Wartsila (Finland), Thales Group (France), among other solution, service and equipment providers. These players offer comprehensive solution to key stakeholders in the market.
The inertial measurement unit market is expected to grow from USD 21.3 billion in 2021 to USD 40.7 billion by 2026, at a CAGR of 13.8% during the forecast period. Key players have adopted various organic and inorganic strategies to strengthen their position in the inertial measurement unit market. The major players include General Electric (US), Honeywell (US), Bosch (Germany), Safran (France), and Northrop Grumman (US). These players have adopted various strategies, such as acquisitions, contracts, new product launches, and partnerships & agreements, to expand their presence in the market further.
The market aircraft and marine turbochargers is projected to grow from USD 270 million in 2018 to USD 290 million by 2023, at a Compound Annual Growth Rate (CAGR) of 1.41% from 2018 to 2023. The rising demand for fuel-efficient aircraft engines, increasing number of aircraft deliveries, rising demand for light jets from countries such as the US, the UK, China, India, and Japan, and flourishing maritime tourism industry across the globe are leading to the growth of the aircraft and marine turbochargers market. Major vendors in the aircraft and marine turbochargers market include are Hartzell Engine Technologies (US), PBS Velka Bites (the Czech Republic), Rolls-Royce (UK), Mitsubishi Heavy Industries (Japan), Main Turbo Systems (US), ABB (Switzerland), Cummins (US), Kawasaki Heavy Industries (Japan), and MAN Energy Solutions (Germany).
The railway connectors market is expected to grow from USD 802 million in 2018 to USD 1,069 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.92% during the forecast period. Increased demand for different types of wagons is a major factor driving the growth of the railway connectors market. Wagons are rail vehicles used to carry passengers and freights. These vehicles are not equipped with propulsion systems and hence, are drawn by locomotives. The demand for wagons is continuously growing in countries such as the US, the UK, France, etc., due to increased industrial activities. Major vendors in the railway connectors market include are TE Connectivity (Switzerland), Amphenol Corporation (US), Molex Incorporated (US), ITT (US), Smiths Interconnect (US), Fischer Connectors (Switzerland), Esterline Technologies (US), Schaltbau (Germany), and Sichuan Yonggui Science and Technology (China).
The marine engine monitoring system market is estimated to be USD 508.4 Million in 2018 and is projected to reach USD 656.5 Million by 2025, at a CAGR of 3.72% during period 2018 to 2025. This growth can be attributed to the increase in international seaborne trade, the rise in the demand for deliveries of smart engines, recreational boats, and growth in maritime tourism. Major companies profiled in the marine engine monitoring system market report include ABB (Switzerland), AST Group (UK), CMR Group (France), Caterpillar (US), Cummins (US), Emerson (US), Hyundai Heavy Industries (South Korea), Jason Marine (Singapore), Kongsberg (Norway), MAN Diesel & Turbo (Germany), Mitsubishi Heavy Industries (Japan), NORIS Group (Germany), Rolls Royce (UK), and Wartsila (Finland), among others.
The marine propeller market is estimated to be USD 4.73 Billion in 2017 and is projected to reach USD 5.37 Billion by 2022, at a CAGR of 2.56% from 2017 to 2022. The objective of this study is to analyze, define, describe, and forecast the marine propeller market based on type, application, material, end user, propulsion, number of blades, and region. The report also focuses on providing a competitive landscape of this market by profiling companies based on their financial positions, product portfolios, and growth strategies as well as analyzing their core competencies and market share to anticipate the degree of competition prevailing in the market. Major companies profiled in the marine propeller market report include Rolls-Royce (UK), Wartsila (Finland), Hyundai Heavy Industries (South Korea), MAN SE (Germany), and Caterpillar (US).
The hydrographic survey equipment market is estimated at USD 2.11 Billion in 2017 and is projected to reach USD 2.74 Billion by 2022, at a CAGR of 5.39% from 2017 to 2022. Various factors, such as rising maritime trade, increase in demand for accurate nautical charts, and coastal zone management & development are expected to drive the hydrographic survey equipment market. Major players in the hydrographic survey equipment market are Kongsberg Gruppen ASA (Norway), Teledyne Technologies (US), INNOMAR Technologie GmbH (Germany), Edgetech (US), Sonardyne International (UK), iXblue SaS (France), and SyQwest Inc. (UK), among others.
The vision positioning system market is projected to grow from USD 5.58 Billion in 2017 to USD 9.25 Billion by 2022, at a CAGR of 10.65% during the forecast period. Vision positioning systems provide real-time information about the surroundings in which they are installed. Factors such as growth in usage of indoor and outdoor positioning system as well as increasing industrial automation for efficiency and lower operating expenses are driving the growth of the vision positioning system market.
The non-destructive testing (NDT) market is estimated to be USD 15.06 Billion in 2016 and is projected to reach USD 24.23 Billion by 2022, at a CAGR of 8.24% from 2016 to 2022. The market is evolving with the increased demand for error-free production and service delivery in industries, such as infrastructure, automotive, aerospace & defense, industrial manufacturing, power generation, and oil & gas, among others. Strict safety regulations formulated by governments, the need to preserve aging infrastructure, and development of advanced automated non-destructive testing equipment are additional factors driving the growth of this market.
The sonobuoy market is estimated to be valued at USD 226.11 Million in 2015 and is projected to reach USD 316.59 Million by 2020, at a CAGR of 6.96% during the forecast period from 2015 to 2020. This report covers the forecasts of the sonobuoy market and its dynamics over the next five years, while also recognizing the market application gaps, evolving technologies, recent developments in the market, and high potential geographic regions and countries.