Marine Sensors Market Growth, Size, Share & Industry Analysis, By Type (Acoustic Sensors, Magnetic Sensors, Sonars, Pressure Sensors, Temperature Sensors, Flow and Level Sensors, and Others), By Platform (Military and Defense and Commercial), By Application (Intelligence & Reconnaissance, Communication & Navigation, Electronic Warfare, Target Recognition, Surveillance & Monitoring, and Others), and Regional Forecasts, 2024-2032

The global marine sensors market size was valued at USD 34.22 billion in 2023 and is projected to grow from USD 35.65 billion in 2024 to USD 53.10 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with marine sensors experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Sensors are small devices used in various ship types for environmental monitoring and real-time data collection. These devices come in a wide variety of forms with numerous uses. Marine sensors are used for pressure, temperature, flow rates, acceleration, inclination, and other purposes. Moreover, sensors are built purposefully rugged to accommodate harsh conditions and play a vital role in improving a ship's performance and evaluating the marine vessel's reliability. Additionally, marine sensors help analyze component's real-time data concerning their applications and improve the performance capabilities of ships, naval vessels, and other boats.

The booming shipbuilding industry, aftermarket maintenance industry, and the rising demand for cruising as a mode of transportation could encourage rapid advancements in sensors. The defense industry also requires cutting-edge 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 expected to propel the marine sensors market expansion in the coming years.

Industry Analtsis

The coronavirus pandemic led to lockdowns to slow down the spread of the virus. The crisis impacted marine sensor manufacturers due to workforce shortages. Due to supply chain disruption, numerous manufacturers and production facilities were shut down. Further, international marine transportation facilities are in disorder due to certain countries' restrictions or outright bans on the entry of ships. There has also been a further decrease in cargo demand due to delay in transportation caused by quarantine periods. Therefore, due to the decline in shipping and cargo demand, instability in maritime and shipping businesses imposed financial hurdles, and some of them failed. This led to a decrease in demand for sensors during the pandemic period.

Marine Sensors Market Trends

Market Growth Stimulated by Adoption of Machine Learning or Artificial Intelligence Sensors on Ships

Technological improvements in shipbuilding, innovative materials, robotics, Big Data, propulsion, smart shipping, and sensors have made it easier to build advanced ships. With the tech progression, the marine sector can be non-toxic for the environment and still accelerate the expansion of the global market. Furthermore, sensor technology is the most advanced technology in the present day, especially popular in industries connected with transportation. Sensor technology automates many manual tasks, such as examining equipment on ships. For instance, in November 2023, The U.S. Department of Defense awarded ThayerMahan, a world leader in providing autonomous maritime surveillance solutions for defense, research and offshore wind energy, a USD 19.3 million contract to continue its work on developing a specialized autonomous maritime sensing technology to sustain the U.S. Navy and Marine Corps' undersea and maritime advantage. The contract allows ThayerMahan, which holds several maritime technology patents, to support its cutting-edge work in the area of specialized long-endurance autonomous platforms, sensors, autonomous behaviors, signal processors, artificial intelligence & machine learning techniques, and improved endurance capacity.

In addition, sensors use machine learning and artificial intelligence to perform a wide range of automated tasks that do not require any human intervention. This means that if any of the vessel's subsystems needs maintenance, they can connect to remote facilities, analyze data, and send an alert. Monitoring performance and condition has become much easier in the context of big data and Internet of Things on ships compared to traditional methods.

Marine Sensors Market Growth Factors

Increasing Demand for Advanced Sensors for Various Applications to Escalate Demand for Marine Sensors

Sensors play a crucial role in detecting and defeating the enemy in sea combat. The use of sensors today ranges from detecting and tracking enemy ships and submarines, to searching for and finding mines, differentiating lethal environments, or observing ballistic missiles due to rapid technological progress. Increased investments in research & development activities by various leading shipbuilders and system developers across the globe for the expansion of fully autonomous ships have led to the increased demand for marine sensors. Autonomous ships are projected to be launched as sustainable, safe, and efficient modes of operation for the marine industry. For instance, in December 2023, a contract was awarded by Northrop Grumman Systems Corporation to purchase 12 items to support the WSN 7 ship's marine sensors. The contract was offered by the Naval Supply Systems Command Weapon Systems Support, Mechanicsburg, PA. This contract is estimated to conclude in June 2028 and was worth USD 12.5 million.

Internet of Things (IoT) to Enable Smart Work Management for Port Operations, Propelling Market Growth

In recent times, the Internet of Things (IoT) technology has been introduced as a concept of an intelligent work technological revolution. Due to the rapid increase in sensor technology applications and their capabilities with low-cost computing components, the maritime sector will have access to a wide range of opportunities. Moreover, due to advances in wireless sensor technology and the development of a new generation of micro and nanometric sensors, ship environment monitoring and components data collection will undergo revolutionary changes. In addition, due to the rapid adoption of Internet of Things in global marine technologies, docks are now investing in single networks that support their individual cloud-based IoT. Furthermore, an intelligent port can be defined as a fully automated one with all devices connected via IoT smart port. It comprises a network of intelligent sensors, wireless devices, and data centers that make the central infrastructure of a smart port.

IoT technology brings container management with IoT-based digital manifests, fleet management, and faster repairs with improved operational safety, leading to market growth during the forecast period.

RESTRAINING FACTORS

Sensor Calibration and Maintenance Process to Hinder the Market Growth

An intelligent system or machinery is impossible without sensor maintenance and calibration. These sensors need care to be done as often as monthly due to bio-fouling. The smart sensors capable of sense, self-processing of signals, and communication facilities play a vital role in all intelligent systems for reliable and fast data processing with the central station. The higher complexity of smart sensors circuit leads to an increased and lengthy maintenance process. Proper sensor calibration will yield accurate measurements, making reasonable control of the process possible. Uncalibrated sensors can pose several safety risks. The rise in spending on condition monitoring and predictive maintenance systems could hamper the market growth.

Marine Sensors Market Segmentation Analysis

By Type Analysis

Increasing Adoption of Flow & Level Sensors for Different Types of Applications in Underwater Purposes to Boost the Market

Based on type, the market is divided into acoustic sensors, magnetic sensors, sonars, pressure sensors, temperature sensors, flow and level sensors, and others.

The flow and level sensors segment is predicted to be the fastest growing segment over the forecast period. These sensors are widely used in marine fleets. Acoustic sensors are commonly used in oceanographic and environmental studies. Additionally, the key players have been undertaking extensive research and developing integrated navigational sensors with enhancing capabilities to provide exceptional ship efficiency.

Further, underwater acoustic sensors play a relevant role in several fields in the aquatic environment. Underwater acoustics has been revealed as a valuable tool with countless applications allowing for performance studies of biomass calculations for fishing purposes, ecological assessment concerning noise pollution, bioacoustics studies related to marine mammals, or soundscape assessment using acoustic indicators, among other applications. Moreover, pressure sensors and temperature sensors segments are expected to witness lucrative growth in the coming years.

By Platform Analysis

Rising Adoption of New Technology-based Sensors for Military Protection and Situational Awareness to Propel Market Growth

Based on platform, the market is classified into military & defense and commercial.

The rising use of technology-based sensors in military ships, submarines, vessels, and others to protect and give them real-time situational awareness will boost the segment’s growth during the forecast period.

For instance, in October 2022, Ocean Power Technologies, Inc. was selected to assist Amentum Services. In this joint operation, both companies will provide coastal surveillance services in support of the U.S. Department of Homeland Security, Science & Technology Directorate, and the Department of Defense (DoD) Information Analysis Center (IAC) port. Furthermore, with increasing utilization of marine transportation and commercial ships, the commercial segment will grow significantly in the coming years.

By Application Analysis

Advanced Technological-based Navigation Systems for Securing Accurate Data to Impel Industry Expansion

By application, the market is segmented into intelligence & reconnaissance, communication & navigation, electronic warfare, target recognition, surveillance & monitoring, and others.

Modern sailors are skilled in knowing how modern navigation equipment works, making sailing at sea smoother and safer. Today's facilities and automation are equipped with several innovative navigation marine sensors that deliver accurate voyage data, leading to market growth during the forecast period. For instance, in March 2022, Honeywell launched a new MV60 Micro-Electro-Mechanical System (MEMS) accelerometer sensor for defense applications.

With Artificial Intelligence (AI) technology, maritime sensors can pinpoint undersea objects, making autonomous vessels more reliable. Increasing developments in intelligence and reconnaissance sensors assist in analyzing information about the potential enemy, location, and others. Furthermore, surveillance and monitoring sensors allow military and intelligence organizations to track real-time data of the surrounding environment.

Marine sensors also play a vital role in targeting applications to detect surface or underwater objects. Moreover, technological improvements in semiconductors, specific to gallium arsenide and indium phosphide, further catalyzed the market growth. The utilization of wide-bandwidth also allows the targeting of multiple objects simultaneously. Multifunctional marine sensors are also critical to support electronic warfare systems. The sensors enable autonomous operation along with communication integrity. For instance, in September 2022, Tomahawk Robotics won a contract through the Marine Corps Warfighting Laboratory to provide sensors, payloads, and multiple unmanned systems. The two-year agreement was valued at USD 6.5 million.

REGIONAL INSIGHTS

The global market is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

The North America marine sensors market share is predicted to be dominant during the estimated period. The U.S. had the maximum defense budget in 2021. The growth in the adoption of next-generation advanced autonomous underwater vehicles fuels the market expansion in North America. Moreover, increasing the federal funding for military procurement plans for all military platforms, such as the sea, is witnessing the marine sensors market growth during the forecast period.

During the forecast period, Asia Pacific will be the fastest-growing region in the global market. China, Japan, South Korea, and India have the most focus on naval platforms to acquire advanced sensors for ships, submarines, and others. Moreover, the increasing popularity of cruising in the region is boosting the demand for sensors during the forecast period.

Europe is expected to record substantial growth during the forecast period. The increasing adoption of vessels and unmanned underwater vehicles for naval threat protection, surveillance, and other applications is increasing the demand for advanced sensor applications across the region. For instance, in 2019, the European Defense Agency approved the launch of the four years CAT B project. The CAT B project is developing a swarm of biomimetic underwater vehicles used for underwater intelligence, surveillance, and reconnaissance applications.

Countries, such as the UAE, Saudi Arabia, and South Africa, have more commercial cruising ships for tourism and transport ships. This is expected to boost the market growth during the forecast period.

List of Key Companies in Marine Sensors Market

The market is fragmented with the presence of vital players, such as BAE System Plc., Garmin Inc., and Honeywell International Inc. These players are focusing on providing technologically advanced sensors for interplanetary naval applications. They have also collaborated with several OEMs to speed up the development process. For instance, in October 2022, Teledyne FLIR Defense was awarded a firm-fixed-price contract to provide MARFLIR (Maritime Forward Looking Infrared) II sensors to the U.S. Coast Guard (USCG). The total value of the agreement was USD 48.7 million.

LIST OF KEY COMPANIES PROFILED:

• BAE System Plc. (U.K.)


• Garmin Ltd. (U.S.)


• Gill Instruments (India)


• Honeywell International Inc. (U.S.)


• Lockheed Martine Inc. (U.S.)


• NRG System Inc. (U.S.)


• Raytheon Company (U.S.)


• SAAB AB (Sweden)


• Thales Group (France)

KEY INDUSTRY DEVELOPMENT

• February 2024: To enhance the Royal Navy's sonar and sensor capabilities, Thales entered a USD 2.3 billion contract for improvements in lifetime availability and resilience. The 15-year Maritime Sensor Enhancement Team (MSET) contract will focus on equipment availability and prediction of problems through AI-assisted data collection. It will largely affect the Navy’s upcoming Type 26 and Type 31 frigates, as well as its Dreadnought ships and future autonomous capabilities.


• October 2023: Thales signed a contract for the supply of upgraded surveillance management systems to Poland's frigates. The company shall supply the Polish Navy its TACTICOS Integrated Combat Management System (CMS), sonars, radars, and infrared sensors under this agreement. In 2029, TACOSTIC-equipped frigates are scheduled to be put into service.


• September 2023: L3Harris Technologies was awarded a USD 328 million contract by the Australian Department of Defense to supply new underwater sensors that will improve the Australian Royal Navy's ability to track ships under water. The contract is being provisioned under the DoD’s SEA1350 Phase 3 Maritime Underwater Tracking Ranges (MUTR) program.


• June 2023: The Dutch Command Materiel and IT (COMMIT) and Thales signed a contract for the production and delivery of the Above Water Warfare System (AWWS) fire control cluster and sensor suite for the four new Dutch and Belgian Anti-Submarine Warfare (ASW) Frigates. This contract, which has a value in excess of hundreds of millions of euros, reaffirmed Thales' global leadership on innovative marine fire control and sensor technologies.


•  December 2022: LIGOK Nex1 was awarded a contract with the Republic of Korea Navy to provide linear sensors known as ultrathin. They will be used for the next generation of submarines and UUVs. By providing this technology, the defense company hoped to significantly enhance survivability and lethality of South Korea's planned submarine system.

REPORT COVERAGE

The market report brings a comprehensive analysis and emphasizes major aspects such as key players, objects, offerings, and end-users of sensors. Moreover, the report deals with insights into the competitive landscape, market trends, market competition, product pricing, regional analysis, market players, competition landscape, and the market status and highlights key industry developments. In addition to the factors stated above, the report encompasses several direct and indirect influences that have subsidized the sizing of the global market in recent years.

REPORT SCOPE & SEGMENTATION