The remote steering electric outboard engines market is projected to witness a 5.5% CAGR. Boats with remote steering engines help extend the console and control the steering system and the steering wheel. Some manufacturers are constantly investing in R&D to tailor and develop electric outboard engines precisely designed for military use.

Given to thorough R&D endeavors for redesigning the operational boundaries of electric detachable motors, critical improvements have been accomplished in cutting-edge electronic drive frameworks. All these factors are estimated to drive the demand for remote steering electric outboard engines.

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The trend of vacations to coastal destinations have risen significantly and is becoming one of the major business drivers for marine leisure and entertainment industry. Younger population is increasingly getting inclined to leisure water sports activities such as sailing and fishing trips. These activities mainly involve use of recreational boats that are rigged with electric outboard engines. Rise in number of tourist choosing coastal holiday destinations could spark the demand for such engines in newer boats.

Marine tourism is expanding globally on account of enhanced coastal infrastructure and increasing government initiatives for developing coastal regions not just for trade but also for tourism. This is anticipated to provide a major impetus to electric outboard engines market over the upcoming years. The electric outboard engines market size is projected to surpass USD 175 million by 2027.

Speaking of marine tourism, a report by Ocean Wealth suggests that over 350 million people around the world travel to coral reef coast. Water sports have become a major attraction for marine leisure and entertainment industry. With the growing inclination of youth towards leisure water activities, such as watersports, sailing and fishing trips is propelling the adoption of electric outboard engines for boats.

The elevating product demand for marine tourism and recreational activities is apparently the major reason for the considerable growth of electric outboard engines in Asia Pacific region. Growing disposable income in the regional countries has increased the consumer expenditure on recreational activities involving cruising and boating. Enhanced boating infrastructure coupled with favorable government policies promoting coastal tourism is complementing the product adoption further. Considering these factors, Asia Pacific electric outboard engines market is projected to register a robust CAGR of around 6% through 2027.

Apart from recreational activities, electric outboard propulsion is massively adopted for military applications. Ongoing geopolitical issues have compelled countries to increase their naval expenditure in order to enhance their coastal security and strength their naval capabilities. Given that, manufacturers are also investing in research and development activities to develop electric outboard engines specifically for military purposes. For instance, in 2020, GE’s Power Conversion business inked an agreement with Damen Schelde Naval Shipbuilding for delivering electric propulsion package designed especially for new Combat Support Ship being used by Royal Netherlands Navy.

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Some Point from Table of Contents:

Chapter 5   Electric Outboard Engines Market, By Control

5.1    Global electric outboard engines market control insights

5.2    Tiller

5.2.1    Market estimates and forecasts, 2017-2027

5.2.2    Market estimates and forecast, by region, 2017-2027

5.3    Remote

5.3.1    Market estimates and forecasts, 2017-2027

5.3.2    Market estimates and forecast, by region, 2017-2027

Chapter 6   Electric Outboard Engines Market, By Application

6.1    Global electric outboard engines market application insights

6.2    Commercial

6.2.1    Market estimates and forecasts, 2017-2027

6.2.2    Market estimates and forecast, by region, 2017-2027

6.3    Recreational

6.3.1    Market estimates and forecasts, 2017-2027

6.3.2    Market estimates and forecast, by region, 2017-2027

6.4    Military

6.4.1    Market estimates and forecasts, 2017-2027

6.4.2    Market estimates and forecast, by region, 2017-2027

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