The Integrated Bridge Systems Market Size was valued at USD 8.09 billion in 2022, expected to reach USD 11.07 billion by 2030 with a growing CAGR of 4.0% over the forecast period 2023-2030.
The integrated bridge systems market is expanding rapidly due to increased demand for advanced maritime navigation systems. The integrated bridge system is a collection of systems designed to provide centralized access to information from diverse system nodes via a workstation. Furthermore, IBS sends information like navigation, control and monitoring, and propulsion on interconnected grouped screens to enable safe and effective ship management. Furthermore, an integrated bridge system receives data from a variety of on-board sensors, subsystems, and a ship's navigational system. IBS enables real-time data monitoring to improve situational awareness and decision-making efficiency. Marine vessels use an integrated bridge system. It serves as an intermediate ship management system. It is used to increase the safety and efficiency of maritime vessels as all vessels are connected to the system where the officer can monitor all the activities of the vessel.
To get more information on Integrated Bridge Systems Market - Request Free Sample Report
An integrated bridge system is a computer program that monitors all ship conditions in a single system. Controls all ship navigation sensors and control system information. IBS brings the right combination of each roaming function, the same operating principles, and an easy-to-use user interface. In addition to this, it also collects information from various ship sensors and shipping systems. In accordance with Integrated Bridge Systems Market Analysis, the system enhances the overall performance of the driver. It makes it easier for the industry not to worry too much about security. The market size of the integrated bridge system will improve over the forecast period. The use of an integrated bridge system for bridges could reduce shipping risks, and previously many vessels were lost. But, with this system, the status of the vessel will be in a specific control system for each vessel.
MARKET DYNAMICS
KEY DRIVERS
Marine Tourism and Increased Seaborne Trade
The integrated bridge system market is being driven by the cost decrease of wireless sensors as a result of intense rivalry among manufacturers.
RESTRAINTS
Digitalization leading to Cyber threats.
OPPORTUNITIES
increasing number of port cities in Asian countries
Precise navigational safety standards & regulations
CHALLENGES
Extravagant customization of IBS
The availability of experienced staff is a significant issue for the market expansion of integrated bridge systems.
IMPACT OF COVID-19
Because of the government-imposed lockdown to halt the spread of COVID-19, integrated bridge system manufacturers are experiencing operational challenges and a labour shortage.
Ship builders are compelled to halt production owing to a government-imposed lockdown in the aftermath of COVID-19.
International travel limitations implemented by authorities to combat the COVID-19 epidemic have harmed the maritime trade and tourism industry.
Manufacturers of integrated bridge systems are unable to obtain production-related equipment and raw materials due to supply chain disruption induced by government traffic restrictions imposed in the aftermath of the COVID-19 outbreak.
Based on the component segment, the Integrated Bridge Systems Market is split into hardware and software. The hardware segment is subdivided further into control units, displays, data storage, sensors, alarms, and so on. The increased need for novel systems for commercial and defense vessels boosts the market growth. In the projection period, the software segment will grow due to the growing demand for software applications for various ships and shipbuilders.
The integrated bridge system market is divided into OEM and aftermarket segments depending on the end-user. The growing demand for navy ships with modern integrated bridge systems drives the expansion of the OEM segment, which is predicted to grow at a rapid pace throughout the forecast period. As navy vessels are modified for passenger safety, the aftermarket area will see significant development. based on ship type The integrated bridge systems market has been divided into defense and commercial segments.
Over the forecast period, the commercial segment is expected to lead the market. An increase in the number of people using marine transportation and an increase in demand for leisure boats are expected to drive the commercial segment of the integrated bridge systems market worldwide.
By Component
Software
Hardware
By End User
OEM
Aftermarket
By Ship Type
Commercial
Defense
By Sub System
Voyage Data Recorder
Integrated Navigation System
Automatic Weather Observation System
Others
By Tonnage
<10 t
<100t
<1000t
>1000t
.png)
Need any customization research on Integrated Bridge Systems Market - Enquiry Now
REGIONAL ANALYSIS
The integrated bridge system market has been distributed for market expansion across North America, Asia Pacific, and Europe. North America will improve the market's CAGR due to the region's various bridge system developers; in the United States, the defence budget also boosts the region's market growth. Another element influencing North America's growth rate is a rise in import-export activity in the region. Increased port capacity in Asian regions will boost Asia Pacific growth during the projection period. According to the market analysis for integrated bridge systems, each region will contribute to market growth.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Northrop Grumman Corporation, Raytheon Company, Furuno Electric Co. Ltd., Japan Radio Co. Ltd., Kongsberg, Wärtsilä, Rolls Royce Holdings plc, LARSEN & TOUBRO LIMITED, NORIS Group Gmb, Furuno Finland and Other Players
Northrop Grumman Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 8.09 Billion |
| Market Size by 2030 | US$ 11.07 Billion |
| CAGR | CAGR of 4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Software and Hardware) • By End User (OEM and Aftermarket) • By Ship Type (Commercial and Defense) • By Sub System (Automatic Identification System, Voyage Data Recorder, Integrated Navigation System, Automatic Weather Observation System and Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Northrop Grumman Corporation, Raytheon Company, Furuno Electric Co. Ltd., and Japan Radio Co. Ltd., Kongsberg, Wärtsilä, Rolls Royce Holdings plc, LARSEN & TOUBRO LIMITED, NORIS Group Gmb, Furuno Finland. |
| DRIVERS | • Marine Tourism and Increased Seaborne Trade • The integrated bridge system market is being driven by the cost decrease of wireless sensors as a result of intense rivalry among manufacturers. |
| RESTRAINTS | • Digitalization leading to Cyber threats. |
Commercial ships are becoming increasingly popular as intercontinental and intracontinental trade activities increase worldwide.
manufacturers are experiencing operational challenges and a labour shortage and Ship builders are compelled to halt production owing to a government-imposed lockdown
The use of an integrated bridge system for bridges could reduce shipping risks, and previously many vessels were lost. But, with this system, the status of the vessel will be in a specific control system for each vessel.
An integrated bridge system is defined as a collection of interconnected systems that allow centralized access to sensor information or command/control from workstations, with the goal of improving ship management safety and efficiency by appropriately qualified personnel.
IBS enables real-time data monitoring to improve situational awareness and decision-making efficiency.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine-Russia War
4.3 Impact of Ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Integrated Bridge Systems Market Segmentation, by Component
8.1 Software
8.2 Hardware
9. Integrated Bridge Systems Market Segmentation, by End User
9.1 OEM
9.2 Aftermarket
10. Integrated Bridge Systems Market Segmentation, by Ship Type
10.1 Commercial
10.2 Defense
11. Integrated Bridge Systems Market Segmentation, by Sub System
11.1 Automatic Identification System
11.2 Voyage Data Recorder
11.3 Integrated Navigation System
11.4 Automatic Weather Observation System
11.5 Others
12. Integrated Bridge Systems Market Segmentation, by Tonnage
12.1 <10 t
12.2 <100t
12.3 <1000t
12.4 >1000t
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Northrop Grumman Corporation
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Kongsberg
14.3 Wärtsilä
14.4 Raytheon Company
14.5 Furuno Electric Co. Ltd.
14.6 Japan Radio Co. Ltd.
14.7 Rolls Royce Holdings plc
14.8 LARSEN & TOUBRO LIMITED
14.9 NORIS Group Gmb
14.10 Furuno Finland
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The LiDAR Drone Market Size is expected to grow from USD 180.53 million in 2023 to USD 1435.27 million by 2031 at a CAGR of 29.6% over the forecast period 2024-2031.
The Live Laser-Based Training and Simulation Platforms Market Size was valued at USD 0.96 billion in 2022 and is expected to reach USD 1.63 billion by 2030 with a growing CAGR of 6.9% over the forecast period 2023-2030.
The Electric Ship Market Size was valued at USD 5.63 billion in 2022 and is expected to reach USD 17.23 billion by 2030 with a growing CAGR of 15% over the forecast period 2023-2030.
The Surveillance Radars Market Size was valued at USD 9.54 million in 2022 and is expected to reach USD 17.52 million by 2030 with a growing CAGR of 7.9% over the forecast period 2023-2030.
The Air-to-Air Refueling Market Size was valued at USD 630.31 million in 2022, expected to reach USD 1323.85 million by 2030 and grow at a CAGR of 9.72% over the forecast period 2023-2030.
The 5G in Defense Market size is estimated at USD 0.92 Billion by 2023 and is expected to grow at a CAGR of 20% and will hit USD 3.95 Billion by 2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
