Integrated Bridge Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Integrated Bridge Systems Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Integrated Bridge System Market

The global integrated bridge system market size was valued at USD 7.84 billion in 2022 and is projected to grow from USD 8.06 billion in 2023 to USD 10.06 billion by 2030, exhibiting a CAGR of 3.2% during the forecast period of 2023-2030.

The pandemic brought disruptions inside the Integrated Bridge System (IBS) marketplace because of halted production and reduced maritime activities. However, as worldwide change resumed, calls for superior automation and navigation systems commenced to recover, impeding the integrated bridge system market growth.

Rising maritime protection demands, automation improvements, and the need for fleet modernization drive the Integrated Bridge System (IBS) marketplace. Additionally, strict regulatory requirements and a focus on environmental sustainability encourage adopting integrated structures for progressed operational efficiency.

Advanced bridge tracking structures are essential for ensuring the safety and reliability of infrastructure. These systems incorporate advanced sensors and monitoring technologies to acquire actual-time information on bridge fitness and overall performance. By leveraging records analytics and device studying algorithms, these statistics may be analyzed to expect ability failures, allowing proactive upkeep and decreasing downtime, expanding the integrated bridge system market share globally. This predictive method allows for optimizing renovation schedules and preventing unexpected screw-ups, ensuring long-term sustainability and protection of bridge infrastructure.

Comprehensive Analysis of Integrated Bridge System Market

The Integrated Bridge System (IBS) marketplace is segmented using vessel kind, factor, subsystem, and give-up person. The business ship phase dominates due to improved maritime visitors, while protection ships are pushed by using new naval contracts. The hardware issue is predicted to preserve the most significant share, with software demand rising for fleet control answers. Integrated navigation structures (INS) will lead subsystems, even as voyage statistics recorders (VDR) are predicted to develop unexpectedly for more excellent protection. In quit customers, the OEM segment is projected to increase because of demand for advanced structures in new warships; at the same time, the aftermarket will stay good sized for servicing existing structures.

The North America region led the integrated bridge system market by benefitting a size of USD 2.97 billion in 2022 due to the presence of maximum included bridge machine builders in the area, North America is anticipated to seize the most crucial marketplace percentage.

The leading players in the Integrated Bridge System (IBS) market significantly shape its growth trajectory and establish industry standards. Key players, including Alphatron Marine B.V. (Netherlands), Consilium Marine & Safety AB (Sweden), Danelec Marine A/S (Denmark), Furuno Electric Co. Ltd. (Japan), DSME Co., Ltd. (South Korea), Gem Elettronica (Italy), Hensoldt UK (U.K.), L3 MAPPS Inc. (Canada), Japan Radio Co., Ltd. (Japan), Kongsberg (Norway), Mackay Communications, Inc. (U.S.), Marine Technologies LLC (Norway), Naudeq (France), Noris Group GmbH (Germany), Northrop Grumman Corporation (U.S.), OSI Maritime Systems (Canada), Praxis Automation Technology B.V. (Netherlands), Prime Mover Controls Inc. (Canada), The Raytheon Company (U.S.), Tokyo Keiki Inc. (Japan), and Wärtsilä Oyj Abp. (Finland) contribute to a competitive landscape, driving innovation and advancement in the market.

In March 2023, South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) secured a settlement worth USD 521 million to assemble liquefied natural fuel (LNG) vessels for Maran Gas Maritime, based in Angelicoussi, Greece. The shipping of each ship is anticipated in the first 1/2 of 2027, with construction taking region at DSME's Okpo Shipyard in South Gyeongsang Province, according to Maeil Business News Korean Pulse.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 3.2% from 2023-2030

Unit Value (USD billion)

Segmentation

By Vessel Type

Commercial Vessel

Defense Vessel

By Component

Hardware

Software

By Subsystem

INS

VDR

AWOS

AIS

By End-User

OEM

Aftermarket

By Region

North America (Vessel Type, By Component, By Subsystem, By end User)

U.S. (End User)

Canada (End User)

Europe (Vessel Type, By Component, By Subsystem, By end User)

U.K (End User)

Germany (End User)

France (End User)

Russia (End User)

Rest of Europe (End User)

Asia-Pacific (Vessel Type, By Component, By Subsystem, By end User)

China (End User)

India (End User)

Japan (End User)

South Korea (End User)

Rest of Asia-Pacific (End User)

Rest of the World (Vessel Type, By Component, By Subsystem, By end User)

Middle East & Africa (End User)

Latin America (End User)

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