Marine Electronics Market Poised for 5.3% CAGR Growth Through 2031 with AI-Driven Navigation Innovations

United States of America – January 19, 2025 – According to The Insight Partners, The Marine Electronics Market is expected to register a CAGR of 5.3% from 2025 to 2031. The marine electronics market continues to evolve rapidly, fueled by breakthroughs in navigation, communication, and safety technologies that keep vessels safer amid growing global maritime demands. Leaders like Garmin Ltd., Furuno Electric Co., Ltd., and Kongsberg Maritime spearhead this progress with recent launches enhancing everything from AI-powered sonar to integrated GPS systems.​

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Key Segments Fueling Growth

The marine electronics market spans diverse product types tailored to merchant marine, fishing vessels, yachts, military naval operations, and more. GPS and radar systems lead for precise positioning, while SONAR modules revolutionize underwater detection.​

• Communication devices ensure reliable VHF and satellite links for crew coordination.
• Autonomous Identification Systems (AIS) prevent collisions through real-time vessel tracking.
• Thermal and visible cameras boost nighttime surveillance.
• Multi-function navigation displays consolidate data for intuitive control.
• Other innovations include autopilots and audio-video setups.​

These segments address applications across merchant marine fleets handling global trade, fishing vessels optimizing catches, recreational yachts seeking leisure tech, and military naval forces prioritizing defense readiness.​

Recent Industry Updates

Garmin Ltd. partnered with satellite providers in 2024 to sharpen remote navigation, gaining strong traction in GPS systems. Furuno Electric integrated AI sonar late 2023, improving detection in tough waters. Raymarine advanced its open-ecosystem strategy in December 2024 with WATCHIT and CMC Marine integrations, while teaming with ePropulsion in May 2024 for electric-drive displays.​

In July 2024, Garmin became the exclusive supplier for Independent Boat Builders through 2029, covering chart plotters to stereos. Honeywell's Emissions Management Suite earned marine certification in August 2024 for offshore monitoring. Simrad launched AI-driven FishCast in 2025 for fishing intelligence, blending ocean data with route optimization. Iris introduced the Photon night vision camera in 2025 for superior low-light awareness.​

These moves highlight how the marine electronics market adapts to demands for smarter, greener solutions amid rising trade and offshore activities.​

Market Trends, Analysis, and Forecast to 2031

The marine electronics market shows robust momentum through 2031, with a steady CAGR around 5.3% from 2025 onward, propelled by IoT integration, AI analytics, and sustainability pushes.​

Global Analysis:

• Navigation systems claim over 42% share, driven by GPS/AIS upgrades for accuracy.
• Commercial vessels dominate applications, boosted by trade expansion and SOLAS safety rules.​
• Trends favor AI predictive maintenance, cloud data exchange, and eco-friendly power for displays.​
• Forecast sees stronger autonomous vessel adoption, fusing radar, sonar, and cameras by 2031.​

Regional Insights:

• North America holds 35%+ share via recreational boating and tech leaders like Garmin.​
• Asia Pacific grows fastest with port upgrades in China/India and shipping booms.​
• Europe emphasizes regulations and innovations from Kongsberg, Furuno.​
• Rest of World, including Middle East/Latin America, rises on oil/gas exploration needs.​

Key Trends and Forecast Highlights:

• IoT/smart tech enables real-time monitoring, cutting downtime.​
• AR/VR aids training; cybersecurity protects networks.​
• Electric/hybrid propulsion demands energy monitors by 2031.
• Recreational segment surges with leisure boating upticks.​

Leading Innovators Shaping the Future

Market leaders deliver reliable tech for harsh seas. FLIR Systems (now Teledyne FLIR) excels in thermal imaging. Furuno Electric Co., Ltd. pioneers’ sonar advancements. Garmin Ltd. dominates GPS/chart plotters.​

Icom Inc. and Japan Radio Co., Ltd. lead communication reliability. Kongsberg Maritime integrates bridge systems. Navico offers Lowrance/Simrad for fishing/yachts. Northrop Grumman Sperry Marine B.V. serves military needs. SRT Marine Systems plc focuses on surveillance.​

These companies invest in R&D, partnerships, and compliance to stay ahead in the marine electronics market.​

Forward Momentum in Maritime Tech

As oceans handle more cargo, leisure trips, and defense ops, marine electronics market players prioritize seamless integration and resilience. Innovations like 5G connectivity and hybrid sensors promise fewer incidents and efficient voyages through 2031. Stakeholders from shipbuilders to regulators benefit from this dynamic ecosystem, ensuring safer, smarter seas worldwide.

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