Marine Electronics Market Size & Share [2033]

Marine Electronics Market Overview

The Marine Electronics Market size was valued at USD 14479.86 million in 2024 and is expected to reach USD 22160.95 million by 2033, growing at a CAGR of 4.8% from 2025 to 2033.

The marine electronics market has undergone a significant transformation due to technological innovation, with over 68% of commercial vessels globally equipped with integrated electronic navigation systems in 2024. The demand for real-time data transmission has driven the adoption of satellite-based communication, which is now present in more than 55,000 vessels across commercial and military fleets. Additionally, over 75% of newly built marine vessels in Asia-Pacific include digital marine electronic systems as standard installations. The increasing need for navigation safety, fuel optimization, and fleet monitoring has led to the widespread use of GPS, sonar, and radar systems, with over 120,000 units sold globally in 2023 alone. Countries such as the United States, Japan, and China have invested heavily in upgrading naval systems, contributing to the rising adoption of advanced marine electronics.

The integration of Internet of Things (IoT) and artificial intelligence (AI) in navigation and collision avoidance systems now appears in over 38% of modern fleets. These advancements are pushing the marine electronics market toward a new era of automation, precision, and real-time intelligence in maritime operations.

Key Findings

Top Driver reason: Rising demand for safe and efficient navigation across global commercial and defense fleets.

Top Country/Region: North America leads the marine electronics market due to high military naval expenditure and strong recreational boating activity.

Top Segment: GPS & radar systems dominate due to their critical role in navigation and maritime safety, accounting for over 42% of product use globally.

Marine Electronics Market Trends

The marine electronics market is witnessing a surge in innovation, particularly in automation and real-time analytics. In 2023, over 68,000 new vessels were equipped with upgraded autopilot systems, which reduce manual intervention and improve voyage efficiency. The trend toward autonomous shipping is accelerating, with 32% of shipbuilders incorporating semi-autonomous navigation features in new builds.

A significant trend is the use of AI-driven sonar and fish-finder systems in commercial and recreational fishing. More than 1.4 million sonar units were deployed globally in 2023, up from 1.2 million in 2022, primarily across fishing vessels and recreational yachts. This growth reflects the increasing demand for efficiency in resource identification and monitoring.

The integration of multi-functional displays that combine radar, sonar, weather updates, and navigational charts into a single interface is another rising trend. By late 2024, over 51% of newly manufactured vessels in Europe were fitted with multi-functional displays, replacing legacy standalone systems. This trend supports decision-making in high-pressure maritime environments.

Satellite communication is also transforming ship-to-shore connectivity. Over 37,000 vessels had satellite broadband access in 2023, supporting critical systems such as engine diagnostics and real-time weather tracking. Furthermore, marine audio-visual systems are increasingly integrated with onboard infotainment and emergency broadcast tools, with over 25,000 installations reported in cruise liners and luxury yachts last year.

Another important trend is the rise of green navigation systems. These systems use software to optimize routing based on sea currents and weather, reducing emissions. In 2023, 19% of global fleets adopted green navigation algorithms, especially across Europe and Japan.

Marine Electronics Market Dynamics

DRIVER

Rising demand for safe and efficient maritime navigation.

Global trade heavily relies on maritime transport, with over 80% of goods shipped via oceans. This logistics dependence has intensified the focus on vessel safety and efficiency. In 2023, over 4.3 billion tonnes of cargo moved through ports equipped with smart marine electronics. To meet international maritime regulations, 87% of fleet owners upgraded navigation systems, radar, and communication electronics during 2022–2024. Governments and regulatory bodies have mandated safety compliance, resulting in a spike in demand for Electronic Chart Display and Information Systems (ECDIS), Automatic Identification Systems (AIS), and GPS units. The demand from defense fleets further contributes to this growth, with over 20,000 military vessels integrating real-time tracking and AI-aided threat identification.

RESTRAINT

Limited interoperability between legacy and modern systems.

Despite technological advances, marine electronics still face integration issues. Older vessels often use legacy systems incompatible with modern digital solutions. As of 2024, around 33% of merchant fleets operate with outdated communication equipment that cannot interface with current software systems. Upgrading to new systems requires complete retrofitting, which is costly and time-intensive. This constraint affects adoption, particularly among small-scale operators in developing regions. Furthermore, limited skilled personnel for operating or maintaining these complex systems also restricts market penetration, especially in rural and underdeveloped ports.

OPPORTUNITY

Increased demand for unmanned and autonomous marine vehicles.

Autonomous and unmanned surface vehicles (USVs) are opening new opportunities in marine electronics. In 2023, over 1,700 autonomous vessels were deployed globally for surveillance, offshore inspection, and hydrographic surveys. These USVs require advanced radar, LIDAR, navigation, and communication tools to operate independently. The market for marine electronic solutions customized for unmanned vessels is expected to grow rapidly. Japan and the United States are at the forefront, with over 45% of new autonomous vessels built in these two countries. The need for precision and real-time feedback presents vast opportunities for innovation in sensor fusion, multi-mode communication, and remote diagnostics.

CHALLENGE

High installation and maintenance costs.

The cost of installing marine electronics can exceed USD 100,000 per vessel depending on the sophistication of the system. Annual maintenance and calibration costs can add another USD 10,000–15,000 per ship. These costs make it difficult for smaller fleet owners or recreational yacht operators to invest. In addition, saltwater corrosion, humidity, and vibration in marine environments significantly reduce the life expectancy of electronic components. Nearly 29% of shipowners reported performance degradation of marine electronics within 24 months of installation. This requires regular replacements and deters long-term adoption without cost-effective service packages.

Marine Electronics Market Segmentation

The marine electronics market is segmented by type and application. By type, the market includes GPS & radar systems, fish finders & sonar, marine autopilots, communication equipment, and audio & video equipment. By application, the market serves merchant marine, fishing vessels, yachts/recreation, military, and underwater drones. In 2023, GPS & radar systems and communication equipment accounted for over 60% of all sales, while fishing vessels and yachts/recreation represented over 52% of all application-based demand.

By Type

GPS & Radar Systems: In 2023, over 190,000 GPS and radar units were shipped globally. These systems are essential for navigation and collision avoidance, especially in congested shipping routes. Radar is used in 92% of commercial vessels, while GPS is a default installation in 100% of newly built vessels worldwide.
Fish Finders & Sonar: Fish finder and sonar systems saw 1.4 million global installations in 2023. Around 74% of commercial fishing vessels rely on sonar to identify fish shoals, improve yield, and reduce fuel costs. High-frequency sonar is increasingly used in deep-sea vessels across Japan, Norway, and the U.S.
Marine Autopilots: Approximately 72,000 marine autopilot systems were installed in 2023, mostly in long-distance merchant fleets and naval vessels. Autopilots reduce human fatigue and optimize navigation, contributing to a 15% reduction in operational errors across the Atlantic fleet.
Communication Equipment: Over 430,000 marine communication devices were sold globally in 2023, including VHF radios, satellite communication units, and digital distress alerting systems. These devices are mandatory under SOLAS regulations and are installed in 98% of ships flagged in developed nations.
Audio & Video Equipment: Over 65,000 units of audio-video equipment were delivered in 2023, primarily to cruise liners, leisure yachts, and military ships. These systems support passenger entertainment and emergency broadcasting and are expected to grow with rising maritime tourism.

By Application

Merchant Marine: Merchant vessels constitute the largest application segment, with over 350,000 vessels in service globally using marine electronics. These include bulk carriers, tankers, and container ships requiring navigation, communication, and safety systems.
Fishing Vessel: With over 4.6 million fishing vessels worldwide, demand for sonar, fish finders, and radar systems remains strong. In 2023, nearly 1.1 million units were installed in this segment alone.
Yachts/Recreation: The recreational boating market saw over 320,000 new yachts equipped with modern marine electronics in 2023. The U.S. and Europe lead with more than 64% of the global yacht ownership base.
Military: Defense applications accounted for over 42,000 vessels globally in 2023. Marine electronics are crucial for surveillance, communications, and threat detection. AI-powered radar and sonar are standard across 78% of naval ships.
Underwater Drones: The use of underwater drones grew by 21% in 2023. These units rely on advanced sonar and real-time imaging systems. Over 12,000 units were active worldwide in exploration, research, and surveillance operations

Marine Electronics Market Regional Outlook

In 2023, the marine electronics market experienced varying regional performances driven by military budgets, maritime trade volumes, and coastal infrastructure.

North America

accounted for the highest share of marine electronics usage, with the U.S. Navy alone operating over 490 ships integrated with advanced radar and sonar systems. More than 138,000 new recreational boats sold in the region were fitted with GPS and communication equipment.

Europe

market was driven by commercial shipping and military modernization. Germany, France, and Norway collectively installed over 84,000 marine electronics units in 2023. Europe also leads in green navigation solutions, with 29% of fleet operators using eco-routing algorithms.

Asia-Pacific

was the fastest-growing region, with over 1.6 million fishing vessels utilizing sonar and radar technologies. China, Japan, and South Korea accounted for 47% of global sonar production. The region added over 18,000 new merchant ships in 2023 alone, most with digital navigation and communication tools.

Middle East & Africa

region saw rising installations due to naval expansions and port modernization projects. The UAE and Saudi Arabia invested in 320 new patrol vessels using multi-mode radar and thermal imaging systems. Africa saw increasing use of GPS in local fisheries, with over 9,200 units installed in coastal operations in 2023.

List of Top Marine Electronics Companies

Furuno
Wärtsilä
Garmin
Kongsberg Maritime
Navico
ThyssenKrupp Marine Systems
JRC
Northrop Grumman
FLIR Systems
Thales Group
Ultra Electronics
Raytheon Anschütz
ICOM
Johnson Outdoors
Highlander
Kraken Robotics
Neptune Sonar

Top Two Companies with The Highest Share

Furuno maintains the leading position with over 140,000 marine units installed globally in 2023, holding an estimated 18% market share.

Garmin follows with strong dominance in the GPS and recreational boating sectors, selling over 1 million marine electronic units worldwide in 2023.

Investment Analysis and Opportunities

In 2023, global investments in marine electronics crossed a critical milestone, with over 4,200 commercial shipbuilders allocating funding toward onboard digital systems. Investment priorities shifted toward satellite communication and AI-based navigation software, with more than 61% of maritime operators investing in multi-functional electronic platforms. The growing demand for advanced threat detection systems in naval vessels prompted increased defense budgets across 22 countries. In the U.S. alone, federal contracts totaling over 3,400 units were issued for radar and sonar modernization in the past 12 months.

Private equity and venture capital firms entered the marine electronics space aggressively, especially in underwater drone startups. Over 90 startups received seed or Series A funding in 2023, amounting to more than 120 million USD in total investments. These startups are focusing on miniaturized sonar units, real-time mapping software, and wireless underwater communications.

Ship retrofitting programs offer significant investment opportunities. In 2023, more than 39,000 vessels underwent partial or full upgrades of legacy electronics. The retrofit segment now contributes over 47% of annual spending in the commercial marine electronics sector. Additionally, port authorities in Asia-Pacific invested in centralized tracking systems, with over 120 ports adopting advanced vessel traffic services (VTS) powered by marine electronics.

Fleet optimization services using big data analytics are attracting interest from logistics and shipping firms. In 2023, over 58,000 ships were connected to cloud-based marine electronics platforms for performance diagnostics, voyage planning, and predictive maintenance. These platforms represent a lucrative opportunity for software vendors and marine AI developers.

Sustainability is also influencing investments. Marine electronics that reduce emissions through route optimization are now used by over 14% of ocean carriers in Europe. Investment in dual-use devices for both entertainment and safety—such as marine displays integrating video feeds and radar overlays—rose by 26% in 2023.

New Product Development

Marine electronics companies have accelerated product development to cater to increasing automation, connectivity, and real-time analytics demands. In 2023, over 320 new marine electronic products were launched globally. These include smart transducers, 4D sonar systems, multi-band satellite communicators, and radar integrated with infrared night vision.

Furuno introduced a cutting-edge 3D multi-beam sonar system in late 2023 that can visualize sea floors in real-time with centimeter-level accuracy, suitable for deep-sea mapping and offshore construction. The system was installed in over 110 vessels during its first quarter on the market.

Garmin launched a hybrid touchscreen multifunction display (MFD) with integrated voice control in 2023, compatible with 87 different marine sensors and transceivers. Over 23,000 units were shipped within the first six months of launch, driven by the yacht and recreational boating market.

Kongsberg Maritime debuted an autonomous vessel control suite, combining navigation, radar, and propulsion control, designed specifically for unmanned surface vehicles (USVs). By early 2024, over 400 vessels had been equipped with this system, especially in offshore energy operations.

In audio-video segments, companies like Johnson Outdoors and Highlander rolled out waterproof entertainment systems with dual-purpose safety alerts, which were installed in more than 5,600 cruise and recreational vessels in 2023. These devices feature Bluetooth, emergency override, and are operable through voice command interfaces.

Neptune Sonar introduced compact, low-frequency sonar arrays for underwater drones and ROVs, with deployment in over 780 underwater inspection missions across offshore oil rigs and maritime archaeology sites. Their sonar products offer 30% more range with 20% less power consumption, ideal for battery-dependent platforms.

Five Recent Developments

Furuno launched a 3D multibeam sonar system in Q2 2023 capable of scanning 240 degrees, already installed in 110+ commercial and research vessels.
Garmin released a new voice-activated MFD in late 2023, compatible with 87 device types; more than 23,000 units sold within six months.
Kongsberg Maritime deployed autonomous navigation software in 400+ unmanned vessels for offshore energy inspection by early 2024.
Raytheon Anschütz completed integration of AI-based radar systems for 18 NATO-class naval ships, enhancing real-time threat tracking.
Northrop Grumman rolled out a hybrid sonar-laser system for underwater surveillance in 2023, used in 270+ subsea defense applications.

Report Coverage of Marine Electronics Market

This marine electronics market report provides an in-depth analysis of global demand patterns, product innovation, and regional adoption metrics. Covering over 28 countries and 15 product sub-categories, the report consolidates verified data from 2023–2024 to identify trends, investment opportunities, and competitive dynamics.

The report analyzes over 520,000 marine electronic systems deployed across commercial, military, fishing, and recreational applications. It categorizes the market by five main types—GPS & radar, fish finders & sonar, marine autopilots, communication systems, and audio-visual equipment. Each category is evaluated for technological innovation, deployment volume, and regional growth factors.

Furthermore, the report reviews application trends across merchant shipping, defense navies, leisure boating, commercial fisheries, and underwater robotics. Over 1.9 million vessel installations are segmented to reveal end-user preferences, retrofit demand, and evolving use cases in maritime operations.

The regional breakdown includes North America, Europe, Asia-Pacific, and the Middle East & Africa. Each region is analyzed in terms of fleet size, new installations, government mandates, and port-level electronics upgrades. The report reveals that Asia-Pacific accounts for the majority of fish finder and sonar units (approx. 54% of 2023 global volume), while North America leads in communication and infotainment equipment adoption in recreational boats.

Investment patterns are thoroughly evaluated, highlighting both private and government funding in technology upgrades. Over 4,200 commercial shipbuilders and 90+ tech startups were studied to assess where capital is flowing and which innovations are receiving traction. Key focus areas include autonomous vessel electronics, green navigation systems, and AI-driven diagnostic platforms.

Lastly, the report features profiles and insights into 17 top marine electronics companies, with detailed analysis of the two market leaders—Furuno and Garmin. These firms collectively shipped more than 1.14 million units in 2023, reinforcing their dominance across commercial, military, and recreational sectors.