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Global Integrated Bridge Systems Market Outlook, 2019-2025 - Rise in World Seaborne Trade, Growth in Maritime Tourism

Dublin, Jan. 15, 2020 (GLOBE NEWSWIRE) -- The "Integrated Bridge Systems Market by End User (OEM, Aftermarket), Ship Type (Commercial: Bulk Carriers, Dredgers, Defense: Frigates, Corvettes, OPVs), Subsystem (INS, VDR, AWOS, AIS), Component (Hardware, Software), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global integrated bridge systems market is projected to grow from US$ 7 billion in 2019 to US$ 8.8 billion by 2025, at a CAGR of 3.9% from 2019 to 2025.

This research report categorizes the integrated bridge systems market based on end-user (OEM, aftermarket), component (hardware and software), subsystem, ship type, and region. The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Some of the key players in the integrated bridge systems market are the Raytheon Company (US), Northrop Grumman Corporation (US), Wartsila (Finland), Kongsberg (Norway), and Furuno Electric Co. Ltd. (Japan).

Rise in maritime tourism and increase in world seaborne trade are major factors expected to drive the growth of the integrated bridge systems market globally

The market is driven by factors such as increasing demand for maritime tourism and a rise in seaborne trade across the globe. With increasing trade volume, the demand for new ships (such as dredgers, research vessels, cargo ships, bulk carriers, and oil & gas tankers) and the revamping of existing ships (with latest technologies) are also expected to increase. According to the United Nations Conference on Trade and Development, the seaborne trade is expected to grow between 2018 to 2023 at a CAGR of 3.8% on account of increasing population and demand for goods.

Growing intra-Asian trade arising from a shift of low-cost manufacturing activities from China to other neighboring East and South Asian countries are expected to boost the seaborne trade during the forecast period. Similarly, for Europe increase in merchandise trade and fleet growth curve have been increased since past few years. The increased seaborne trade worldwide has pushed the demand for merchant ships, subsequently driving the market for integrated bridge systems.

By ship type, the commercial segment is estimated to account for a larger share of the overall market in 2019

Commercial ships are vessels used to carry out commercial trade or transport passengers. They are classified based on their functions. For instance, the dry cargo vessel type consists of ships carrying general dry cargo, containerized cargo, wheeled cargo (RO-RO), and bulk cargo, whereas liquid vessels or tankers transport liquefied natural gas (LNG), crude oil and its products, and chemicals worldwide. An increase in the number of passengers resorting to marine transportation and a rise in demand for recreational boats are expected to lead to the growth of the commercial segment of the integrated bridge systems market across the globe.

By component, the hardware segment is estimated to account for a larger share of the overall market in 2019

Displays, control units, and data storage devices are some of the major hardware of the integrated bridge system. A display is an output device that presents information gathered from different sources. A data storage device is used to store, port, and extract data in a quicker and more efficient way. It deals with data security, data management, and harnessing of the information to meet the application and software networking needs of the end-user industries.

Asia-Pacific is estimated to be the largest market for integrated bridge systems in 2019

The geographic analysis of this region includes China, South Korea, Japan, the Philippines, Singapore, and the Rest of APAC. According to the United Nations Conference on Trade and Development, in 2018, almost 39.1% of loaded and 53.8% unloaded seaborne trade took place in Asia. There is a growing trend by traditional large shipbuilders from countries such as South Korea, China, Japan as well as Southeast Asia toward enhancing offshore capabilities and providing a single marine solution for both, shipbuilding and offshore, thus driving the growth of the commercial integrated bridge systems market in the Asia-Pacific region.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Integrated Bridge Systems Market
4.2 Integrated Bridge Systems Market, By Component
4.3 Integrated Bridge Systems Market, By Ship Type
4.4 Integrated Bridge Systems Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in World Seaborne Trade
5.2.1.2 Growth in Maritime Tourism
5.2.2 Restraints
5.2.2.1 Digitalization Leading to Cyber Threats
5.2.3 Opportunities
5.2.3.1 Rising Number of Port Cities in Asian Countries
5.2.3.2 Precise Navigational Safety Standards & Regulations
5.2.4 Challenges
5.2.4.1 Extravagant Customization of IBS
5.2.4.2 Need for Training to Operate IBS

6 Industry Trends
6.1 Introduction
6.2 IBS Technology Evolution
6.3 Industry Trends From 2013-2030
6.3.1 E-Loran
6.3.2 Cascade Adaptive Bridge System
6.3.3 Mobile Navigation Apps
6.3.4 Hicass
6.3.5 Bridge Alert Management
6.3.6 Alphabridge
6.3.7 E-Navigation
6.3.8 Wartsila's Control Systems
6.3.9 3D Printing
6.3.10 Maritime Connect
6.3.11 Robotics
6.3.12 3D Sonar
6.3.13 Rolls-Royce Unmanned Ships
6.3.14 Wireless Monitoring
6.3.15 5G Connectivity
6.4 Technology Trends
6.4.1 Digital Marine Automation System
6.4.2 Sensor Fusion Solution
6.4.2.1 Control Algorithms
6.4.2.2 Conning Systems
6.4.2.3 Connectivity Solutions
6.4.3 Multifunctional Workstation
6.4.4 Internet of Things (IoT)
6.4.5 Artificial Intelligence
6.4.6 Integrated Closed-Circuit Television System
6.4.7 Integrated Onboard Training System
6.4.8 Integrated Fire Fighting Control System
6.5 Innovations and Patent Registrations (2011-2019)

7 Integrated Bridge Systems Market, By End User
7.1 Introduction
7.2 OEM
7.2.1 Increase in Demand for Ships Equipped With Advanced Integrated Bridge Systems
7.2.2 OEM, By Ship Type
7.2.2.1 Commercial Ship
7.2.2.2 Defense Ship
7.3 Aftermarket
7.3.1 Maintenance of IBS Components is Driving the Growth of the Aftermarket for Integrated Bridge Systems
7.3.2 Parts
7.3.3 Maintenance

8 Integrated Bridge Systems Market, By Ship Type
8.1 Introduction
8.2 Commercial
8.2.1 Bulk Carriers
8.2.1.1 Increasing Maritime Trade, Especially in Asia Pacific, is Boosting the Demand for Bulk Carriers
8.2.2 Gas Tankers
8.2.2.1 Rising Demand for Oil & Gas From China and India is Increasing the Demand for Gas Tankers in Asia Pacific
8.2.3 Tankers
8.2.3.1 Increasing Fuel Requirements in Emerging Economies are Increasing the Demand for Tankers
8.2.4 Cruise Ships
8.2.4.1 Increasing Maritime Tourism is Driving the Demand for Cruise Ships Equipped With Integrated Bridge Systems
8.2.5 Offshore Supply and Passenger Ferries
8.2.5.1 Rising Use of Water-Based Public Transportation is the Driving Demand for Integrated Bridge Systems-Equipped Passenger Ferries
8.2.6 Dry Cargo Ships
8.2.6.1 Increasing Global Maritime Trade is Fueling the Demand for Dry Cargo Ships Equipped With Integrated Bridge Systems
8.2.7 Fishing Vessels
8.2.7.1 Rise in Fishing Activities has Driven the Demand for Integrated Bridge Systems
8.2.8 Research Vessels
8.2.8.1 Rising Concerns About Climate Change and Its Impact on Oceans have Resulted in the Increased Procurement of Research Vessels
8.2.9 Dredgers
8.2.9.1 Rising Exploration of Natural Resources and Increasing Construction Activities have Increased the Demand for Dredgers
8.3 Defense
8.3.1 Aircraft Carriers
8.3.1.1 Upgradation of Aircraft Carriers is Increasing the Demand for Integrated Bridge Systems
8.3.2 Amphibious Ships
8.3.2.1 Rise in Demand for Amphibious Ships Across the Globe is Expected to Drive the Market for Integrated Bridge Systems
8.3.3 Destroyers
8.3.3.1 Increased Use of Destroyers to Protect Large Vessels Against Small But Powerful Short-Range Attackers
8.3.4 Frigates
8.3.4.1 Demand for Up-Gradation of Existing Integrated Bridge Systems in Frigates
8.3.5 Corvettes
8.3.5.1 Increasing Use of Corvettes in Sea Warfare is Expected to Contribute to A Demand for Corvettes Equipped With Integrated Bridge Systems
8.3.6 Submarines
8.3.6.1 Increasing Submarine Modernization Programs are Driving the Demand for Submarine-Based Equipment
8.3.7 Minesweepers
8.3.7.1 Increasing Demand for Advanced Minesweepers Will Drive the Market for Advanced IBS
8.3.8 Offshore Patrol Vessels (OPVs)
8.3.8.1 Rising Threats From Piracy and Terrorism have Driven the Demand for Offshore Patrol Vessels
8.3.9 Missile Carrying Boats & Supply Boats
8.3.9.1 North Korea has the Maximum Number of Missile Boats in Operations

9 Integrated Bridge Systems Market, By Subsystem
9.1 Introduction
9.2 Integrated Navigation System
9.2.1 Increasing Focus on Deployment of Advanced Sense and Avoid Systems Will Increase Demand for Advanced Ins
9.2.1.1 Navigation Radar
9.2.1.2 ARPA Radar
9.2.1.3 Gyro
9.2.1.4 Echo Sounder
9.2.1.5 Electromagnetic Log
9.2.1.6 Electronic Chart Display and Information System (ECDIS)
9.2.1.7 Differential Global Positioning System (DGPS)
9.2.1.8 Bridge Communication Console
9.2.1.9 Autopilot
9.2.1.10 Transmitting Magnetic Compass
9.2.1.11 Bridge Navigation Watch and Alarm System (BNWAS)
9.3 Automatic Weather Observation System
9.3.1 Automatic Weather Stations are Being Installed on IBS to Enhance Meteorological Observations in Oceans
9.4 Voyage Data Recorder (VDR)
9.4.1 VDR System Helps in Improving the Safety of Ships During Operations
9.5 Automatic Identification System (AIS)
9.5.1 Rising Demand for AIS in Commercial and Passenger Ships

10 Integrated Bridge Systems Market, By Component
10.1 Introduction
10.2 Hardware
10.2.1 Increasing Requirement for IBS on Each Ship Type to Drive the Demand for IBS Hardware Components Over the Forecast Period
10.2.1.1 Displays
10.2.1.2 Control Units
10.2.1.3 Data Storage Devices
10.2.1.4 Sensors
10.2.1.5 Alarms
10.2.1.6 Others
10.3 Software
10.3.1 Rise in Demand for Software Applications for Ships From Shipbuilders
10.3.1.1 Synapsis NX
10.3.1.2 K - Bridge Sensor Integrator (SINT)
10.3.1.3 Visionmaster FT
10.3.1.4 Napa Logbook
10.3.1.5 Navi-Planner 4000

11 Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Middle East
11.5 Rest of the World

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Ranking of Key Players, 2018
12.3.1 Winning Imperatives, By Key Players
12.3.1.1 Kongsberg
12.3.1.2 Wartsila
12.3.1.3 Raytheon Company
12.3.1.4 Northrop Grumman Corporation
12.3.1.5 Furuno Electric Co. Ltd.
12.4 Competitive Scenario
12.4.1 New Product Launches
12.4.2 Other Strategies

13 Company Profiles
13.1 Raytheon Company
13.2 Northrop Grumman Corporation
13.3 Wartsila
13.4 Kongsberg
13.5 Furuno Electric Co. Ltd.
13.6 Consilium Marine & Safety AB
13.7 Tokyo Keiki Inc.
13.8 Praxis Automation Technology B.V.
13.9 Marine Technologies LLC
13.10 Japan Radio Co. Ltd.
13.11 Hensoldt UK
13.12 Alphatron Marine B.V.
13.13 Gem Elettronica
13.14 L3 Mapps Inc.
13.15 Noris Group GmbH
13.16 Mackay Communications Inc.
13.17 Danelec Marine A/S
13.18 Naudeq
13.19 Prime Mover Controls Inc.
13.20 PC Maritime

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