Electronics continue to pump fresh blood into a financially healthy marine industry. Competition among the major players is arguably at an all-time high, with companies consistently delivering new products in radar, sonar, GPS chartplotting, multifunction displays (MFDs) and autopiloting.
Navico (Lowrance, Simrad, B&G)
Navico develops, makes and distributes marine electronics for the recreational market and is the parent company of the Lowrance, Simrad Yachting and B&G brands.
After a successful 2015 that saw an 11 percent gain in revenue, Navico kicked off the new year by introducing an array of more affordable products and enhancements to its sonar technology in hopes of continued growth and possible acquisitions this year.
Two of the biggest players in marine electronics are in a legal battle over technology patents that could force one manufacturer to pull product from store shelves.
With a suite of new products across its Simrad, Lowrance and B&G brands, Navico aims to increase revenue this year by nearly 200 percent.
A new mapping technology from Navico serves as another example of the industry’s growing effort to make the boating experience mobile, with data that can be taken to and from the boat and disseminated through social networking.