The global buoys and beacon market is anticipated to grow at a significant CAGR of 3.2% during the forecast period (2024-2031). Growing collaboration between public and private entities is one of the key factors driving the growth of the buoys and beacon market. This partnership allows for the development of advanced systems tailored to maritime safety needs. By combining resources and expertise, innovative solutions are efficiently created and implemented, enhancing navigation and surveillance capabilities. Additionally, it allows private market players for market expansion, eventually driving overall market growth. For instance, in December 2023, Ocean Power Technologies, Inc. (OPTT), a provider of low-carbon marine power solutions, announced a letter contract with a US-based contractor for multiple maritime domain awareness buoys, emphasizing its commitment to national security. This collaboration is aimed to provide multidomain marine solutions for US government agencies, with OPT's PowerBuoy technology enhancing surveillance capabilities both above and below the waterline. Such collaborations facilitate knowledge sharing and accelerate technological advancements in the market, benefiting both sectors and improving maritime safety overall.
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Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Material
o By End-user Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Mobilis SAS, Tideland Signal Corp, Vega Industries Ltd., and SPX Technologies, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Buoys and Beacon Market Report Segment
By Material
- Metal
- Plastic
By End-user Industry
- Maritime Transportation
- Oil & Gas Industry
- Fisheries & Aquaculture
- Defense & Security
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Global Buoys and Beacon Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
· FenderCare
· Hydrosphere UK Ltd.
· JFC Group
· Mediterraneo Senales Maritimas
· Meritaito Ltd
· Mobilis SAS
· Resinex
· Ryokuseisha Corporation
· Sealite Pty Ltd
· Shandong Buoy and Pipe Industry Co., Ltd
· SPX Technologies
· Tideland Signal Corp
Reasons to Buying From us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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