Global Marine Sensors Market Assessment, By Type [Acoustic Sensor, Magnetic Sensor, Pressure Sensor, Temperature Sensor, Flow and Level Sensor, Others], By Application [Target Recognition, Electronic Warfare, Surveillance and Monitoring, Intelligence and Reconnaissance, Communication and Navigation, Others], By Sales Channel [Original Equipment Manufacturer, Aftermarket], By End-user [Commercial, Defense, Others], By Region, Opportunities and Forecast, 2017-2031F

Global marine sensors market is projected to witness a CAGR of 6.76% during the forecast period 2024-2031, growing from USD 1.42 billion in 2023 to USD 2.40 billion in 2031. 

Marine Sensors Market Size, Share, Trends & Forecast 2031

Global marine sensors market is projected to witness a CAGR of 6.76% during the forecast period 2024-2031, growing from USD 1.42 billion in 2023 to USD 2.40 billion in 2031. Increased emphasis on maritime safety, growing needs for ocean monitoring due to environmental changes, and undersea exploration are significant drivers for the growth of the marine sensor market. Advances in material and data analytics for sensors have expanded their scope of application, while environmental regulations call for continuous monitoring and push for enhanced growth in the industry.
Integrating AI with IoT improves sensor capacities and data processing efficiencies, leading to gains in market growth. It has significant initial setup costs, and complex maintenance considerations, and the sea climate can be hostile, putting sensors at risk of durability. Overcoming such restrictions through novel methods, including self-healing materials and increased energy efficiency opens up new possibilities. Additionally, the growing trend of autonomous maritime vehicles presents opportunities for integrating advanced sensors. Companies are focusing on the development of sensor-enabled systems that are durable and cost-effective. Companies are benefiting from advancements in wireless communication technology to communicate data connected to sensor products, making it more efficient.
The boom in the shipbuilding industry, the aftermarket maintenance industry, and the resurging demand for cruising as a mode of transport is inspiring fast-paced progress in sensors. Similarly, the defense industry needs advanced sensors to support technologically advanced systems such as air and missile defense systems and the integration of anti-jamming capabilities in naval vessels. These factors are likely to boost the growth of the marine sensors market during the next couple of years.
For instance, in May 2024, ThayerMahan, Inc. and Australian autonomous uncrewed vessel developer Ocius Technology Ltd. signed an agreement to develop a long-duration USV with acoustic sensor arrays. The collaboration will install ThayerMahan's passive acoustic maritime surveillance system on Ocius's Bluebottle unmanned surface vessel. The partnership will leverage ThayerMahan's expertise in low-power acoustic sensors and AI-enabled processing.
<h2>Rapid Technological Advancement to Drive Market Growth</h2>
Rapid technological advances are significantly propelling the growth of the global marine sensors market. Innovations in sensor technology, such as miniaturization and enhanced data accuracy, enable real-time monitoring of environmental conditions and marine life. The integration of the Internet of Things (IoT) capabilities allows for seamless data transmission and analysis, improving decision-making for maritime operations. Additionally, advancements in materials and battery life enhance sensor durability and efficiency in harsh marine environments. These developments optimize resource management and safety in shipping and fisheries and support environmental sustainability, driving increased investment and interest in marine sensor solutions globally.
For instance, in September 2023, the Australian Department of Defense granted L3Harris Technologies a USD 328 million deal to produce new underwater sensors that will increase the Royal Australian Navy's ability to track ships under water. The contract is awarded through the DoD's SEA1350 Phase 3 Maritime Underwater Tracking Ranges (MUTR) program.
<h2>Growing Concern About Marine Ecosystems Push Demand for Water Quality Monitoring Sensors</h2>
Growing concern over marine ecosystems and the need for effective monitoring of water quality and pollution are key drivers for the growth of the global marine sensors market. Increasing awareness of climate change and human impact on oceans has heightened demand for advanced sensors capable of detecting pollutants and assessing water quality parameters. These sensors enable real-time monitoring, facilitating timely responses to environmental threats. Regulatory frameworks and sustainability initiatives further amplify the need for reliable data, prompting investments in marine sensor technologies. Consequently, this focus on ecosystem preservation and pollution control is fostering innovation and expansion within the marine sensors industry.
For instance, in July 2024, CSignum Ltd. and ANB Sensors Ltd. partnered to develop wireless water quality monitoring solutions. The EM-2 wireless communication platform connects ANB's advanced sensor technology with CSignum's innovative technology, enabling precise measurements of key parameters such as pH, temperature, and conductivity. This technology eliminates the need for permanent wired equipment installation on riverbanks or shores.
<h2>Expansion of Marine Transportation to Drive Market Growth</h2>
The expansion of marine transportation, driven by increased global trade and maritime activities, is significantly boosting the demand for advanced marine sensors. These sensors enhance navigation and safety, ensuring compliance with stringent regulations and improving operational efficiency. With rising concerns over maritime safety, there&rsquo;s a heightened focus on technologies that monitor vessel performance and environmental conditions. Innovations in sensor technology, such as IoT integration and real-time data analytics, are further propelling market growth. As shipping companies prioritize safety and efficiency, investment in reliable marine sensors becomes essential, driving a robust growth trajectory in the global marine sensors market.
For instance, in June 2024, Baker Hughes introduced three Panametrics solutions, including gas, flow, and moisture measurement sensor technologies, to enhance safety performance and productivity in oil, gas, hydrogen, and other energy and industrial sectors. These solutions provide superior accuracy, reliability, and durability, offering long-term stability in harsh environments.
<h2>Flow and Level Sensors to Dominate the Global Market Share</h2>
Flow and level sensors dominate the global marine sensors market due to their critical roles in ensuring safe and efficient maritime operations. These sensors are essential for monitoring fuel and ballast water levels, directly impacting vessel stability and performance. Their reliability and accuracy help prevent overflows and leaks, enhancing safety and environmental compliance. Additionally, the increasing automation of marine systems has amplified the demand for these sensors, as they provide real-time data essential for decision-making. As maritime operations grow more complex, the need for precise flow and level measurement continues to drive their dominance in the market.
For instance, in April 2024, Data Online Corp. (Anova), launched its Universal Tank Monitor with Radar Level Sensor, aimed at companies managing liquids in intermediate bulk containers (IBCs). This technology reduces container waste and streamlines tracking and management, allowing liquid levels to be reported through the container wall.
<h2>Asia-Pacific to Witness Highest Market Growth Rate</h2>
Asia-Pacific is projected to be the fastest-growing market for marine sensors, driven by robust economic growth and expanding maritime trade. Countries such as China, Japan, and India are investing heavily in their shipping and logistics sectors, leading to increased demand for advanced marine technologies. Additionally, the region's focus on enhancing maritime safety and environmental regulations is boosting the adoption of innovative sensor solutions. The rise of smart shipping initiatives and the integration of IoT technologies further propel market growth. With a burgeoning shipbuilding industry and growing commercial shipping activities, Asia-Pacific is poised for significant advancements in marine sensors.
For instance, in October 2024, Norwegian marine geoscience company Shearwater GeoServices secured two projects in Asia-Pacific, using its multi-sensor vessel Geo Coral. The projects will begin in Q4 2024. Shearwater Ghana will begin a two-month 4D seismic monitoring project in 2025 at the Jubilee field, with local content participation. Additionally, Shearwater will deliver an OBN survey in Angola for a French energy company, TotalEnergies, in 2025.
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Future Market Scenario (2024 &ndash; 2031F)
<ul>
<li>Increasing integration of IoT and AI technologies with marine services will enhance real-time data analytics and predictive maintenance capabilities, along with advancements in autonomous vessels, necessitating sophisticated sensor systems for navigation and safety.</li>
<li>Sustainability concerns are anticipated to drive demand for sensors that monitor environmental conditions and emissions, aligning with global regulations.</li>
<li>Increasing defense sector investments and the rising importance of maritime security are expected to boost the market for sensors focused on monitoring threats.</li>
</ul>
Report Scope
&ldquo;Marine Sensors Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global marine sensors market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecasts between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 6.76% between 2024 and 2031
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Revenue Forecast in 2031
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USD 2.40 billion
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Segments Covered
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Type, Application, Sales Channel, End-user
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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ABB Ltd., BAE Systems plc, Baumer Holding AG, Cyclops Marine Limited, Danfoss A/S, Honeywell International Inc., Gems Sensors, Inc., NORIS Group GmbH, Kongsberg Gruppen ASA, TE Connectivity plc
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;global marine sensors market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Type
<ul>
<li>Acoustic Sensors</li>
<li>Magnetic Sensor</li>
<li>Pressure Sensor</li>
<li>Temperature Sensor</li>
<li>Flow and Level Sensor</li>
<li>Others</li>
</ul>
</li>
<li>By Application
<ul>
<li>Target Recognition</li>
<li>Electronic Warfare</li>
<li>Surveillance and Monitoring</li>
<li>Intelligence and Reconnaissance</li>
<li>Communication and Navigation</li>
<li>Others</li>
</ul>
</li>
<li>By Sales Channel
<ul>
<li>Original Equipment Manufacturer</li>
<li>Aftermarket</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Commercial</li>
<li>Defense</li>
<li>Others</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The global marine sensors market is characterized by continuous research and development, along with strategic collaborations aimed at enhancing market position. Major companies are increasingly investing in R&amp;D to enhance product capabilities, focusing on IoT integration and automation. Collaborations and partnerships are common, enabling firms to expand their market reach and technological expertise. The competitive landscape is expected to intensify as demand for advanced marine safety and efficiency solutions grow, positioning key players for sustained growth and innovation.
In June 2024, Ascent Vision Technologies Australia (UAV Vision Pty Ltd) partnered with Maritime Robotics AS by integrating its CM62 Micro Gimbal with the Otter platform for autonomous maritime intelligence, surveillance, and reconnaissance operations. The gyro-stabilized imaging system, with high-resolution electro-optical and long-wave infrared sensors, provides exceptional situational awareness and enhanced mission autonomy.
Key Players Operating in Global Marine Sensors Market are:
<ul>
<li>ABB Ltd.</li>
<li>BAE Systems plc</li>
<li>Baumer Holding AG</li>
<li>Cyclops Marine Limited</li>
<li>Danfoss A/S</li>
<li>Honeywell International Inc.</li>
<li>Gems Sensors, Inc.</li>
<li>NORIS Group GmbH</li>
<li>Kongsberg Gruppen ASA</li>
<li>TE Connectivity plc</li>
</ul>
Markets and Data&rsquo;s reports answer the following questions:
<ul>
<li>What is the current and future market size of the product/service in question globally or specifically to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Marine Sensors Market Assessment, Opportunities and Forecast, 2017-2031F

The global marine sensors market is expected to experience growth due to increasing marine transportation, stringent safety and environmental regulations, advancements in IoT and automation technologies, and the rising demand for real-time data analytics.

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