How Big Is the Marine Electronics Market | Value & Projections 2025

Q: What is the size of the marine electronics market?

The marine electronics market was valued at USD 20 billion in 2024 and is projected to reach USD 28.94 billion by 2031, growing at a CAGR of 5.60%.

Q: What is driving growth in the marine electronics market?

Key drivers include modernization of naval and commercial fleets, rising maritime safety standards, and increasing use of smart navigation and tracking systems.

Q: Which technologies are central to the marine electronics market?

Radar, sonar, GPS, electronic chart displays, communication systems, and integrated bridge systems are among the core technologies.

Q: Who are the leading players in the marine electronics market?

Top companies include Furuno, Raymarine, Garmin, Navico, Kongsberg, and Northrop Grumman.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA7029

Publication Date: Jul 2025

How Big Is the Marine Electronics Market?

According to 6Wresearch internal database and industry insights, the global marine electronics market was valued at USD 20 Billion in 2024 and is projected to reach USD 28.94 Billion by 2031, expanding at a CAGR of 5.60%.

With the augmentation of ship traffic, modernization of naval fleets, and wider spread use of digital navigation and communication infrastructure, the growth of marine electronics is supported. Each maritime industry (commercial shipping, defence operations, and recreational boating/educational research) relies heavily on marine electronics for information, safety, efficiency, and compliance.

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Growth Factors of the Marine Electronics Market

Increased adoption of advanced radar, sonar, and GPS systems
Rising demand for real-time vessel tracking and maritime surveillance
Integration of satellite-based communication and navigation tools
Upgrades in commercial fishing and cargo vessels
Expansion of coastal defense and naval modernization projects
Growth in recreational boating and yachting activity

Marine Electronics Market Trends

Marine electronics market development is shifting to Integrated Bridge Systems and multi-functional displays that allow vessel personnel to control radar, sonar, engine information, and GPS from one interface. Automation and smart connectivity are at the forefront of next generation marine vessels.

Digital switching, augmented reality overlays, and AI-assisted navigation tools continue to roll out to provide greater levels of safety, situational awareness, and operational control across civilian and military fleets.

Emerging Developments in the Marine Electronics Market

Advancements in Marine Electronics Market include progress in autonomous vessel navigation systems. Marine Electronics is supplying vessels with electronic systems that allow for detecting obstacles, optimizing routes (especially if affected by weather or other ships), and allowing the remote monitoring of the vessel.

Moreover, there are other opportunities for development in Marine Electronics as the inclusion of cybersecurity features in the electronics installed is becoming a priority, especially for naval and commercial shipping operators worried about protecting the information and being able to keep their communications secure.