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Integrated Bridge System Market Trends, Industry Share, Growth Drivers, Business Opportunities and Demand Forecast to 2026

emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.


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Shital Varma

2 years ago | 3 min read



The global integrated bridge system market size is projected to reach USD 9.43 billion by 2026, exhibiting a CAGR of 3.93% during the forecast period. Rising adoption of digital technologies in ships is set to emerge as one of the central growth drivers for this market, states
Fortune Business Insights™ in its report, titled “Integrated Bridge System
Market Size, Share and Global Trend By Vessel Type (Commercial Vessel: Bulk
Carriers, Cruise Ships, Dry Cargo, Gas Tankers, Ro-Ro Ships, Dredgers, and
others), and Defense Vessel: Aircraft Carriers, Amphibious Ships, Destroyers,
Frigates, Corvettes Among and Others) By Component (Hardware, and Software), By
Subsystem (INS, VDR, AWOS, and AIS), By End User (OEM, and Aftermarket), and
Regional Forecast, 2019-2026”. According to the UN Conference on Trade and
Development (UNCTAD), maritime shipping industry is rapidly adopting advanced
technologies to reduce operational costs and boost efficiency in ships. One
such technology is integrated bridge systems (IBS) that the International
Maritime Organization (IMO) defines as an amalgam of interconnected systems
that enable centralized access to sensor information from different
workstations in a ship. As a result, the efficiency in handling sensitive
processes while navigating a vessel gets augmented and this factor is expected
to the lead the integrated bridge system market trends in the near future.

emergence of COVID-19 has brought the world to a standstill. We understand that this
health crisis has brought an unprecedented impact on businesses across
industries. However, this too shall pass. Rising support from governments and
several companies can help in the fight against this highly contagious disease.
There are some industries that are struggling and some are thriving. Overall,
almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during
COVID-19 pandemics. Based on our experience and expertise, we will offer you an
impact analysis of corona virus outbreak across industries to help you prepare
for the future.The report states that the value of the market stood at USD 7.20 billion in 2018.
The other highlights of the report include:

Exhaustive study of the various market drivers and trends;In-depth evaluation of the
hindrances facing the market;Careful analysis of the different market segments;
and Comprehensive research into the competitive landscape and regional dynamics
of the market.

Market Driver

Increasing Global Maritime Trade to Aid Market Expansion With global economic growth steadily gaining momentum, international trade
activities are also intensifying and they are best reflected in the promising
progress made by world seaborne trading operations. The UN Conference on Trade
and Development (UNCTAD) reported in 2018 that maritime trade and shipping
account for nearly 80% of the total global trade volume and more than 70% of
the global trade value is handled at seaports across the globe. In 2018, global
seaborne trade expanded at an impressive 4% from 2017 levels. Thus, a
flourishing maritime trade industry brings good news for the integrated bridge
system market growth as higher revenues and profits will prompt governments and
industry players to upgrade existing ship fleets with advanced communication
and analysis technologies.

 Regional Analysis

Rapid Growth in Shipbuilding to Propel the Market in Asia-Pacific Among regions, Asia-Pacific is slated to lead the integrated bridge system market share during the forecast period as a result of rising intensity of shipbuilding activities in South Korea and China. An UNCTAD report states that 90% of the world’s shipbuilding occurs in Japan, China, and South Korea. In addition to
this, India and China are also actively upgrading their naval systems to have
their ships combat-ready, which bodes well for this market.

The market size in North America stood at USD 0.94 billion in 2018 and the region
is anticipated to emerge as highly lucrative owing to expanding defense budget
of the US government. On the other hand, in Europe, the market will be
primarily driven by the growing oil & gas exploration and production
activities in the North Sea and the Norwegian Shelf. Competitive Landscape Contractual Partnerships to Characterize Market CompetitionCompetition in this market is intense and fragmented due to the presence of a few large
players and plenty of small and medium sized companies. Thus, in a bid to
enlarge their share in the market, many of these players are entering into
short-term contractual partnerships, the integrated bridge system market
analysis observes.

Industry Developments:

September 2019: Kongsberg, the Norwegian marine engineering major, signed a deal with the
Dutch company Damen Shipyards to provide the company with its flagship fully
integrated Kongsberg Maritime solution for the cruise liner, the Sea Dream
Yacht Club.September 2019:The German navigation systems specialist Raytheon
Anschützcollaborated with UK-based shipbuilder Babcock and Thales to install
its Warship Integrated Navigation and Bridge Systems (WINBS) in the new Type
31e frigates of the UK Royal Navy.

Source :- https://www.fortunebusinessinsights.com/industry-reports/integrated-bridge-systems-market-101828







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