South Korea Steering Compasses Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The South Korea Steering Compasses Market plays a crucial role in the advancement of various industries that rely on precise navigation and directional control systems. Steering compasses are fundamental components in marine, automotive, aerospace, and defense applications, providing reliable and accurate heading information. The demand for steering compasses in South Korea is driven by the growing needs of sectors such as maritime transportation, vehicle engineering, and unmanned aerial systems, where high precision in navigation is paramount.
In the maritime industry, steering compasses are indispensable for ship navigation, ensuring vessels follow safe and accurate routes in open waters. As South Korea is a significant player in global shipping, the market for steering compasses continues to grow, driven by the expansion of commercial shipping and fishing industries. The increasing use of advanced navigation systems in these industries has led to a demand for more robust and reliable steering compasses that integrate seamlessly with modern electronic chart display and information systems (ECDIS).
Within the automotive sector, steering compasses are becoming an integral part of advanced driver-assistance systems (ADAS). The rise of autonomous vehicles and electric cars in South Korea has created a need for enhanced steering control mechanisms that depend on precise navigation tools. Automotive manufacturers are continuously improving the accuracy and response time of their steering systems, with steering compasses playing a pivotal role in ensuring safe and efficient vehicle operation on the road.
Aerospace and defense industries in South Korea are also major contributors to the demand for steering compasses. Military applications, such as missile guidance systems and unmanned aerial vehicles (UAVs), require the utmost precision. These sectors require steering compasses that are capable of withstanding harsh environmental conditions and providing reliable readings even in challenging situations.
The requirements from industries in South Korea for steering compasses are clear: precision, durability, and seamless integration with other navigational systems. As technology evolves, so do the expectations for steering compasses, which must meet the increasingly sophisticated needs of industries. With South Korea’s continued commitment to technological innovation, the steering compasses market will likely see a steady rise, with advancements ensuring even more precise, durable, and versatile systems across diverse applications.
Get an In-Depth Research Analysis of the South Korea Steering Compasses Market Size And Forecast [2025-2032]
Scan-Steering
KVH
MI Simulators
Raytheon Ansch�tz
TOKIO KEIKI
Sperry Marine
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the South Korea Steering Compasses Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Steering Compasses Market
Mechanical Steering Compasses
Electronic Steering Compasses
Gyrocompasses
Magnetic Steering Compasses
Marine (Commercial and Recreational)
Aerospace (Aircraft Navigation)
Automotive (Vehicle Navigation Systems)
Military and Defense (Naval and Ground Equipment)
Shipping and Logistics Companies
Aerospace Manufacturers and Operators
Automotive OEMs and Aftermarket Suppliers
Defense Contractors and Government Agencies
GPS Integrated Steering Compasses
Inertial Navigation Systems
Hybrid Systems (Combination of Technologies)
Wireless Communication Capable Units
Direct Sales
Distributors and Retailers
Online Sales Platforms
Trade Shows and Exhibitions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Steering Compasses Market Research Analysis
1. Introduction of the South Korea Steering Compasses Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Steering Compasses Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Steering Compasses Market, By Type
6. South Korea Steering Compasses Market, By Application
7. South Korea Steering Compasses Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Steering Compasses Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/