The global marine beacon market size is antedated to grow progressively owing to the increasing demand for safer and faster navigation of vessels and ships at sea level, observes Fortune Business Insights™ in an upcoming report, titled, “Marine Beacon Market Forecast 2020-2030.

The marine beacon market encompasses the manufacturing, distribution, and utilization of navigational aids or marine beacons. These beacons are designed to aid ships, boats, and other vessels in navigation, particularly in situations of low visibility or during nighttime. They emit light or sound signals, assisting mariners in determining their position, avoiding obstacles, and ensuring safe navigation.

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A List of Key Manufacturers Operating In the Marine Beacon Market Report:

  • ACR Electronics Inc.
  • Floatex Srl
  • Moflash Signalling Ltd.
  • SABIK Marine
  • Sealite Pty. Ltd.
  • Gisman
  • JFC Manufacturing Co., Ltd.
  • Groupo Lindley
  • CR Control Systems, Inc.
  • Others

Market Insights Of The Market Report

The global market research report offers a detailed market analysis which contains the future forecast with an acceptable set of prediction, previous data, scientific analysis, thoughtful findings, scientifically-rich information and industry oriented methodology. Apart from this, it contains details like market segments, distribution types, application categories, countries, and products.

Drivers & Restraints-

Increasing Cases of Marine Accidents to Drive Growth

The increasing demand for safe navigation over water bodies due to rising instances of marine accidents globally is estimated to drive the growth of the global marine beacon market. For instance, as per a report published by the Insurance Information Institute, in 2017, marine accidents accounted for nearly 1,163 deaths, causing a loss of USD 197 million. In addition, the rising inclination of people toward ocean tourism and water-based recreational activities is anticipated to further strengthen growth. However, the lack of skilled workers for installation may restrain growth in the forecast timeframe.

Regional Insights-

Presence of Large-capacity Ports in the U.S. to Help North America Lead

North America is estimated to lead the global marine beacon market owing to the presence of the world’s busiest ports in the U.S. For instance, according to the Bureau of Transportation Statistics, in 2018, the Port of South Louisiana, LA, ranked on top by capacity, had a tonnage capacity of 275.5 million tons.The market in Asia Pacific is anticipated to grow at a significant rate in the projected timeline. The high rate of export from China across the world is one of the major factors driving the growth of marine beacons in the region.

The report provides insights into the following aspects:

  • The market research report provides information on various aspects of the Primary Flight Displays Market, including market size, growth rate, and projected revenue.
  • Market trends are analyzed in the report through a comprehensive and systematic approach, considering historical data, current market conditions, and future projections.
  • The report includes a vendor landscape analysis, offering insights into key market players, their profiles, product offerings, financials, market share, and strategic initiatives.
  • Emerging trends are addressed in the report, highlighting new technologies, market segments, and growth opportunities that are gaining prominence in the Primary Flight Displays Market.
  • The report highlights major drivers, challenges, and opportunities, such as increasing demand for advanced avionics systems, emphasis on flight safety, regulatory complexities, and emerging markets.
  • Regional prospects for the market are analyzed, covering regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
  • Key market players are identified in the report, along with their preferred strategies, allowing readers to understand the competitive landscape and make informed business decisions.

Competitive Landscape-

Mergers and Acquisitions to Aid Key Enterprises Expand Product Portfolios

Key players operating in the global marine beacon market are embarking on expanding their product portfolios. They are attaining the same through expansion strategies including mergers and acquisitions. For instance, in January 2019, Moflash acquired Clifford & Snell brand of signaling devices from R.Stahl. The acquisition is projected to be a significant addition to the company’s product portfolio.

Industry Developments-

  • In February 2019, SPX Corporation acquired SABIK Marine. This acquisition will expand and strengthen SPX Corporation’s position in navigation aids speciality lighting solutions. SABIK Marine’s highly engineered products will provide value creation for SPX Corporation’s shareholders.

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By Emelia Murison

Emelia Murison is a freelance writer and editor with a passion for innovation and technology. She covers breaking industry news, #SpaceForGood, and product reviews for the group. She also provides copywriting services to startups around the world – one of which introduced her to the world of Aerospace.