Posted 12/18/2023, 6:30:00 AM
Marine Communication and Control Systems Market to Reach $12.3 Billion by 2028, Driven by Growth in Marine Trade and Tourism
- Marine Onboard Communication and Control Systems market valued at $8.6 billion in 2023, projected to reach $12.3 billion by 2028 at a CAGR of 7.3%
- Market growth driven by increasing marine fleet size due to rise in seaborne trade and marine tourism
- Asia Pacific estimated to have the highest CAGR during the forecast period
- Control systems segment estimated to lead the market from 2023-2028
- Key players include Emerson Electric Co., Wärtsilä, Kongsberg, ABB, and Northrop Grumman Corp