Marine Electronics Market News

Stonehaven-based marine technology company MarineMTS has struck an equity funding deal with SRH Marine SAIT (trading as SRH Marine Electronics). The deal will see the North-east business benefit from a multimillion dollar funding package, and through SRH Marine’s existing customer base, unlock access to approximately 15,000 vessels which could benefit from MarineMTS’ latest ‘Silverbox’ technology. The resultant trade could net the business in the region of $16 million in licensing…

Navico – a provider of marine electronics and parent company to the Lowrance, Simrad, B&G and GoFree brands – announced that Goldman Sachs Merchant Banking Division and Altor Fund IV have partnered and signed an agreement to acquire Navico from the Altor 2003 Fund. Navico is an innovative force within the recreational and commercial marine electronics market and has a rich history of investment in research and development. In the last two years, the company developed such technologies as the HALOTM Pulse Compression Radar technology…

Marine electronics group Navico, a literal ‘house of brands’ for the recreational, sail, power and commercial marine markets, is making a strong push in the commercial sector with its Simrad brand. The ascension of Navico in recreational marine electronics business – an estimated $1 billion market globally – was fast and furious, growing from roughly 7% of the global market in 2005 to nearly 30% in 2007, standing steady at about 35% today, fueled by a strategy built on the acquisition of strong brands mixed with organic growth.

U.S.-based maritime technology firm WR Systems has expanded its commercial maritime service network within the U.S. The opening of strategic service centers in Tampa, Fla. and New Orleans, La. complements the existing service hubs of Norfolk, Va. and Jacksonville Fla., the company said. WR devotes almost 100 technicians to the support of commercial, military and publicly owned vessel NAVCOM systems. The company is authorized to supply and service a wide range of leading marine electronics suppliers including Furuno…

Navico Holding AS, parent company to leading marine electronics brands Lowrance, Simrad and B&G, said they have set into place a new marketing team structure designed to maximize market growth opportunities. Navico has appointed Jonathon Pudney to the role of Global Marketing Director. Jonathon previously worked at a number of high-level marketing and communications agencies before taking the role of International Marketing Communications Director for the De Beers Group. During his tenure at De Beers, Jonathon’s efforts spanned more than 20 countries at the consumer and trade level. He was responsible for launching De Beers diamond marketing in China…

A $2 million marketing campaign, a $2 million investment in manufacturing and technological capabilities and a new suite of innovative products are at the heart of Raymarine's push into the 2002 season. The company, which completed its $108 million buyout from Raytheon at the beginning of this year, believes it will maintain its lead in the marine electronics market. new branding. to coincide with the major international boat shows over the next six months. The company is also soon to launch the first of its new campaigns for 2002. attention on the scale and quality of the information boaters will access. business. capacity and technology developments. market conditions. information needs of the boater. VHF radiotelephone solutions.

The National Marine Electronics Association (NMEA) introduced a stanrdized methodology clarifying and outlining the appropriate standards for installing marine electronics equipment, the NMEA Installation Standards. The Standards have been designed primarily for after-market installation that traditionally occurs at either boat dealers or marine electronics specialty shops. Over the last 20 years, the marine electronics market has exploded with new safety devices and other equipment. However, different from than some years ago, many retail outlets lack the expertise and manpower to install such equipment properly, which is why the NMEA developed these installation standards. The primary focus for these standards is electronics for boats ranging in size from 25 to 150 ft.

JRC North America, the Seattle-based branch of Japan Radio Co., Ltd., has announced an aggressive new program to gain an increased share of the marine electronics market in the U.S. and Canada. Ray Carter, national sales manager, said JRC will pursue greater sales in electronics for the pleasurecraft, megayacht, commercial fishing and workboat markets. The company has already stated prices will not raise prices on its products in 2999 The company offers radards from compact 16-mile units for small boats to 120-mile systems and sophisticated ARPA for high seas use. The line includes LCD and CRT instruments with six to 28 in. screens, some in color.

In an effort to continue its ever widening expansion program within the marine electronics market in both North and South America, Japan Radio Company has added key personnel to its U.S. headquarters offices, JRC North America, Seattle, Wash. Ray Carter has joined the company as national sales manager, with experience in the commercial fishing electronics industry. Carter had previously served as general manager for Yaquina Bay Marine Supply in Newport, Ore. Matthew Wood was elected as the new Western Regional Manager, responsible for sales administration on the U.S. West Coast, in Central and South America, as well as coordination of JRC projects in the Russian Federation.