REPEATER COMPASS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The repeater compass market is estimated to be valued at USD 586.17 million in 2024 and is expected to reach USD 625.03 million by 2031, growing at a compound annual growth rate (CAGR) of 0.9% from 2024 to 2031.

Report Description:

The global repeater compass market has been witnessing steady growth over the years due to advancement in GPS technology. A repeater compass is an essential navigational instrument used across industries such as marine, aviation, and defense. It displays the heading that is being steered and is easy to read even from a distance. Repeater compasses find application in indicators, control panels and steering wheels to provide accurate directional feedback to pilots, captains and operators. With growing maritime trade and rising tourism through cruise liners, the demand for high quality repeater compasses has been on the rise globally.

Market Dynamics:

The global repeater compass market is driven by factors such as growing maritime trade volumes, expansion of commercial shipping and cruise industries, increased defense spending of various countries and modernization of existing naval fleet. However, high costs associated with repeater compass installation and maintenance is a key restraining factor. Development of digital display repeater compass with advanced features like night mode, alarm functions, and data recording capability present lucrative opportunities for market players. Further, integration of gyrocompass technology with repeater compass will improve accuracy and simplify installation process, gaining more traction going ahead.

Key features of the study:

• This report provides an in-depth analysis of the global repeater compass market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global repeater compass market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include AMI Marine, Anschütz GmbH, Furuno, Garmin, Japan Radio Company, KVH Industries, Raymarine, Raytheon Anschütz, Ritchie Navigation, Ruian Shunfeng Navigation Instruments Co.,Ltd, Simrad Yachting, SI-TEX Marine Electronics, Sperry Marine, Syberg AS, and Weems & Plath.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global repeater compass market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global repeater compass market.

Detailed Segmentation:

• Repeater Type 
  • Analog Repeater
  • Digital Repeater
  • Steering Repeater
  • Nav Data Repeater
  • Bearing Repeater
• End User
  • Motorboats
  • Sailboats
  • Cruise Ships
  • Naval Vessels
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Key Players Insights
  • AMI Marine
  • Anschütz GmbH
  • Furuno
  • Garmin
  • Japan Radio Company
  • KVH Industries
  • Raymarine
  • Raytheon Anschütz
  • Ritchie Navigation
  • Ruian Shunfeng Navigation Instruments Co.,Ltd
  • Simrad Yachting
  • SI-TEX Marine Electronics
  • Sperry Marine
  • Syberg AS
  • Weems & Plath