Marine Radar Market to Reach US$ 1 Bn by 2027
Verfasser: pradnya_86 on Monday, 20 November 2017According to the research report titled “Marine Radar Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” published by Future Market Insights, the global market is expected to witness sluggish growth in the years to come. The main reason for the slow growth is a marked decline in the shipbuilding industry in the recent past. This slow growth has reduced the number of marine radar systems installations to a certain extent. The research publication explains several aspects that have a negative influence over the growth of the global marine radar market and also few recommendations that will impact businesses in the coming years. The report covers exhaustive analysis of various segments across key regions such as North America, Asia Pacific excluding Japan (APEJ), Latin America, Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA) during the period 2017-2027. This 10 year forecast will help gauge the growth direction of the market and help key stakeholders understand how to plant strategic seeds in the future to achieve stability during the said period.
Global Marine Radar Market: Forecast Insights
The global market for marine radars is expected to grow at a slow rate to reflect a CAGR of 2.9% during the period of forecast. From a value of around US$ 770 Mn in 2017, the global marine radar market is estimated to reach around US$ 1 Bn by the end of the assessment year (2027).