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Integrated Bridge Systems Market to Rise Owing to Rise in Marine Tourism Worldwide, says Fortune Business Insights™

The global integrated bridge systems market size is prognosticated to witness significant growth on account of the surge in worldwide…

The global integrated bridge systems market size is prognosticated to witness significant growth on account of the surge in worldwide seaborne trade activities. A report by Fortune Business Insights™ titled, “Integrated Bridge Systems Market Size, Share & Industry Analysis, By Platform (Commercial Ships, Naval Warships), By Component (Small Ship IBS, Medium Ship IBS, Large Ship IBS), By Size (Small Ships, Medium Ships, Large Ships), By Module (Radar System, Communication Console, ECDIS), By Software Providers (Synapsis NX, Visionmaster FT, Napa Logbook, Naviplanner 4000) and Regional Forecast, 2019-2026,” offers a qualitative and quantitative analysis on the market.

Browse Report Summary:

List of the key integrated bridge systems market manufacturers include:

  • Tokyo Keiki, Inc.
  • Praxis Automation Technology
  • Northrop Grumman Sperry Marine
  • Kongsberg Gruppen ASA
  • Marine Technologies
  • The Raytheon Company
  • L3 Mapps, Inc.
  • Wartsila Valmarine
  • Furuno Electric Co. Ltd.,
  • Transas
  • Consilium AB
  • LLC
  • Rolls Royce
  • Others

Highlights of the Report

  • 360-degree overview of the market
  • Factors promoting, demoting, challenging, and influencing integrated bridge systems market growth
  • Detailed segmentation of the market with accurate market figures
  • Key industry developments and interesting insights
  • Competitive landscape and the list of significant players
  • Other integrated bridge systems market trends

Switch from Traditional to Integrated Bridge Systems to Help Market Gain Impetus

The rising adoption of wireless sensors in vessels, containers, yachts, and ships is an important factor augmenting the overall market growth. Additionally, the gradual shift from traditional bridge systems to integrated bridge systems by ship owners on account of their easy upgrade features is likely to aid in the expansion of market in the forecast period. Moreover, the surge in marine tourism and worldwide seaborne trade is likely to bode well for the overall market growth in the coming years.

Integrated bridge systems are used for increasing the adoption of advanced ships and their advantages such as reducing the amount of on-board spare parts, standardizing the software and hardware platform, multifunctional navigation, and others. The factors mentioned above indicate the positive growth of the market in the forthcoming years.

On the negative side, factors such as the need to train people for operating integrated bridge systems may be both time and labor-consuming. This, accompanied by the precise safety and regulatory standards of navigation laid by governments, may cause hindrance to the overall growth. Furthermore, digitalization of navigational operations may pose a major threat in terms of cybercrimes and this may hamper the overall market size in the long run.

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Increasing Adoption of Latest Maritime Technology in Integrated Bridges to Help Asia Pacific Dominate Future Market

From a geographical viewpoint, North America accounted for the dominant market share on account of the rapid acceptance of advanced technologies. This, coupled with the rise in export and import operations and ship transport, helped this region earn the highest market revenue.

However, Asia Pacific is anticipated to emerge dominant in the forecast duration on account of the presence of a well-established shipbuilding industry in the region. Furthermore, various players in this region are rapidly adopting the latest technologies for witnessing major market share especially in the commercial maritime industry.

Installation of Wireless Sensors into Vessels to Set New Competitive Standards 

market manufacturers are emphasizing on developing better technology-induced with lasers and cameras to deliver better operations in the platform. These players are adopting strategies such as merger and acquisition, software launches, company contracts, and others. Additionally, the reduction in the cost of wireless sensors used in ships, yachts, vessels, and others is also intensifying the overall market competition

Some of the key industry developments in the market are:

2015 – A contract was signed between Lockheed Martin, Canada, and OSI Maritime Systems (OSI) for constructing, supporting, and delivering the installation of the former’s Integrated Navigation and Bridge Systems for the Arctic Offshore Patrol Ships (AOPS) of the Royal Canadian Navy (RCN).

2018 – A cutting-edge integrated technology platform was developed by Kongsberg Maritime. This is specially designed for delivering complete situational awareness with the help of the Sensor Fusion process wherein the traditional navigational sensors such as Sonar and Radar are merged with lasers and cameras.

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