Global Integrated Bridge System Market Size study & Forecast, by Vessel Type (Commercial Vessel, Defense Vessel) by Component (Hardware, Software), by Subsystem (INS, VDR, AWOS, AIS), by End-use (OEM, Aftermarket) and Regional Analysis, 2023-2030

Global Integrated Bridge System Market Size study & Forecast, by Vessel Type (Commercial Vessel, Defense Vessel) by Component (Hardware, Software), by Subsystem (INS, VDR, AWOS, AIS), by End-use (OEM, Aftermarket) and Regional Analysis, 2023-2030

Global Integrated Bridge System Market is valued at approximately USD 7.84 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.2% during the forecast period 2023-2030. An Integrated Bridge System is a sophisticated navigation control system utilized on modern ships. It integrates various navigational and operational functions into a centralized interface, enhancing efficiency and safety at sea. It incorporates features such as radar, Electronic Chart Display And Information Systems (ECDIS), Automatic Identification Systems (AIS), gyrocompasses, autopilots, and other sensors and equipment. This integration allows for seamless data sharing and real-time monitoring, enabling the crew to have a comprehensive view of the vessel's surroundings and navigation parameters. The Integrated Bridge System Market is expanding because of factors such as growth in global maritime trade, expansion of port cities and port development, and increasing demand for naval vessels.

The increasing volume of global maritime trade has become a pivotal factor driving the growth of the Integrated Bridge System (IBS) Market. As international trade expands, there is a growing demand for efficient and safe navigation systems to handle the complexities of modern shipping routes. The Integrated Bridge System plays a crucial role in meeting these demands by providing a centralized platform that integrates various navigation and communication technologies. According to United Nations Conference on Trade and Development (UNCTAD), the growth of the world's maritime trade stand at 1.4% in 2022. It is anticipated to expand at a 2.1% yearly rate from 2023 to 2027. In addition, increasing vessel modernization and rising technological advancements in systems are factors creating new opportunities for market growth. However, system digitization leading to cyber threats stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Integrated Bridge System Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the concentration of integrated bridge system developers in the region. The growth trajectory is further fueled by the surge in the defense budget of the U.S. Navy, leading to an elevated demand for integrated bridge systems in the country. Additionally, the expansion of Canadian exports and overall economic development is anticipated to be a significant driving force behind the market's growth in the region. Asia Pacific is expected to grow at the fastest rate over the forecast period, owing to factors such as escalating levels of cruise and fishing activities within China, alongside a rising demand for merchant vessels. Moreover, the upsurge in shipbuilding endeavors in South Korea is poised to serve as a significant catalyst for market expansion.

Major market player included in this report are:
Alphatron Marine B.V.
Consilium Marine & Safety Ab
Danelec Marine A/S
Furuno Electric Co. LTD.
DSME Co., Ltd.
Gem Elettronica
Hensoldt UK
L3 Mapps Inc.
Japan Radio Co., Ltd.
Kongsberg

Recent Developments in the Market:
 In March 2023, Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea secured a significant contract worth USD 521 million for the construction of two Liquefied Natural Gas (LNG) vessels destined for Maran Gas Maritime in Angelicoussi, Greece. Anticipated to be completed in the first half of 2027, both ships would be constructed at DSME's Okpo Shipyard located in South Gyeongsang Province.
 In June 2022, Broadcast Pix introduced an advanced integrated production software solution designed to address the increasing demand in contemporary hybrid and multi-format work environments. Known as ""GX Hybrid,"" this software boasts 22 inputs and stands out as the most comprehensive integrated solution in the market. With features including 6 assignable outputs, 2 TB of server storage with built-in streaming, and support for 8 distinct channels of clips and graphics, it meets the evolving needs of modern production setups.

Global Integrated Bridge System Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Vessel Type, Component, Subsystem, End use, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Vessel Type:
Commercial Vessel
Defense Vessel

By Component:
Hardware
Software

By Subsystem:
INS
VDR
AWOS
AIS

By End-use:
OEM
Aftermarket

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Alphatron Marine B.V.
Consilium Marine & Safety Ab
Danelec Marine A/S
Furuno Electric Co. LTD.
DSME Co., Ltd.
Gem Elettronica
Hensoldt UK
L3 Mapps Inc.
Japan Radio Co., Ltd.
Kongsberg

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