Marine Electronics Tester Market To Exhibit Significant Incremental Dollar Opportunity During The Forecast Period 2018 – 2028

Future Market Insights

Marine Electronics Tester Market: Overview

High usage of marine electronics in vessels is creating a huge demand for Marine Electronics Tester and are significantly driving the global Marine Electronics Tester market. Equipments and materials used in the vessel for construction and operation must be in compliance with standard regulations. Marine Electronics Tester performs tests for propulsion engine components, welding consumables, lifting appliances, electrical & automation system, navigation & fire safety equipment, and others. The need for certified material and equipment for safety and security is driving the demand for Marine Electronics Tester. The testing standards are approved by international maritime regulations. The operator must confirm that the material and equipment are as per the international safety standards and regulatory requirements. Many companies offer complete marine testing services as per the requirement and standards.

  • Various regulatory bodies playing the key role in the Marine Electronics Tester market are American Bureau of Shipping (ABS), International Association of Classification Societies (IACS), Germanischer Lloyd (GL), Bureau Veritas (BV), Det Norske Veritas (DNV), Lloyds Registry of Shipping (LR), and others
  • Also, there are various standards which are positively impacting the Marine Electronics Tester market are IEC 60529 – Degrees of Protection Provided by Enclosures (IP Code), IEC 60068 – Environmental Testing, IEC 61000-4 – Electromagnetic Compatibility (EMC), IEC 60695-11-5 – Fire hazard testing, IEC 60092-504 – Electrical installations on ships; Control and instrumentation, IEC 60533 – Electrical and electronic installations in ships – Electromagnetic compatibility (EMC) – Ships with a metallic hull, CISPR 16 – Specification for radio disturbance and immunity measuring apparatus and methods

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Increasing Ocean Trade Activities Significantly Fuelling Growth of the Marine Electronics Tester Market

Since few years, ocean logistics operations have witnessed positive growth in the Asia Pacific and European countries. Countries in this region have huge logistical operations. These logistical operations require continuous communication and monitoring. This creates potential demand for the advanced Marine Electronics Tester to test the monitoring system in these regions. Moreover, stringent government regulations are also contributing to the growth of the Marine Electronics Tester market. With the growth of ocean logistical operations, the Marine Electronics Tester market is positively impacted and is witnessing a potential demand, and is expected to grow with the rise of logistics demand during the forecast period. Another factor which is positively influencing the growth of the Marine Electronics Tester market are increasing ocean trade activities, integration of advanced electronics with vessels, satellite-based communications, and others.

Incompatibility of Marine Electronics Testers with Software

With the continuous software up gradations, Marine Electronics Tester faces compatibility issues with the updated software or new device. However, vendors are continuously focused on the development of enhanced and upgraded Marine Electronics Tester to overcome the above-mentioned challenge. These factors act as a restraint for the growth of marine electronics tester market.

Marine Electronics Tester Market: Segmentation

Marine Electronics Tester market segmentation based on product type:

Marine Electronics Tester market can be segmented as-

  • GPS/ RADAR Tester
  • Navigation Tester
  • SONAR Tester
  • VHF Communication Device Tester
  • Analog & Digital Instruments Tester
  • Material Tester
  • Environment Tester
  • Others

Marine Electronics Tester market segmentation based on test type:

Marine Electronics Tester market can be segmented as-

  • Radio Testing
  • EMC Testing
  • Environment Testing
  • Certification Testing
  • Material Testing
  • Others

Marine Electronics Tester market segmentation based on vessel type:

Marine Electronics Tester market can be segmented as-

  • Merchant Vessels
  • Fishing Vessels
  • Military Naval
  • Yachts/ Recreational Boats

Marine Electronics Tester Market: Key Players

An increase in the adoption of advanced security systems, along with the increasing demand from the defense sector, is contributing to the Marine Electronics Tester market. Owing to this, players in the market are continuously upgrading their product portfolios in order to meet the demands of the competitive global Marine Electronics Tester market. For instance-

  • In June 2018, Furuno Electric Co., Ltd. signed an agreement to establish a joint venture with COSCO SHIPPING Technology CO., Ltd. By this joint venture, both companies are seeking to further boost the provision of navigation and communication equipment and systems in the medium to long term. These developments are significantly creating a huge demand for upgraded Marine Electronics Testers.

Some of the key players for Marine Electronics Tester market are Nemko, IKM Instrutek AS, Safetbag, Aeromarine SRT, Elite Electronic Engineering, Inc., Parker Hannifin Manufacturing Ltd, FURUNO ELECTRIC CO.,LTD., and others.

Marine Electronics Tester Market: Regional Overview

The Asia Pacific and Europe are expected to have a prominent market share of global Marine Electronics Tester market during the forecast period. The Malacca Strait is having high-density vessel traffic and is the busiest routes among all the other sea routes. Due to the narrow route, there are the high chances collisions. Coastal areas in the Asia Pacific have a huge demand for real-time navigation and monitoring to enhance marine traffic safety. This region has a demand for advanced navigation tools with geographic identification systems. To avoid collisions, enhance security and safety, and also manage sea traffic, these regions have a huge demand for advanced navigation devices. These high demands are significantly creating a need for upgraded Marine Electronics Tester in this region.  During the forecast period, Asia Pacific is expected to have a huge demand for Marine Electronics Tester among all the regions and will significantly contribute to the growth of Marine Electronics Tester market.

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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

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