Press release
Integrated Bridge System Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
Integrated Bridge System Market
The Business Research Company offers in-depth market insights through Integrated Bridge System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The integrated bridge system market size has grown strongly in recent years. It will grow from $7.37 billion in 2023 to $7.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to maritime safety regulations, increased global trade activities, focus on crew training and workload reduction, demand for fuel efficiency, navigation safety awareness, globalization of shipping industry..
The integrated bridge system market size is expected to see steady growth in the next few years. It will grow to $9.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to increasing vessel traffic in ports, shift toward autonomous shipping, increased emphasis on environmental compliance, expansion of cruise and passenger shipping, rising demand for offshore support vessels, focus on remote monitoring and diagnostics.. Major trends in the forecast period include digitalization and connectivity, advanced navigation and maneuvering capabilities, cybersecurity integration, compliance with navigation standards and regulations, human-centered design, upgradation to meet e-navigation requirements, collaborations and partnerships..
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Market Segmentation:
The integrated bridge system market covered in this report is segmented -
1) By Component: Hardware, Software
2) By Ship Type: Commercial, Defense
3) By Subsystem: Integrated Navigation System, Voyage Data Recorder, Automatic Weather Observation System, Automatic Identification System, Other Subsystems
4) By Application: Vessels, Megayachts, Tankers, Container Ships, Cruise Ships, Naval Surface Ships
5) By End-User: OEM, Aftermarket
Major Driver - Rising World Seaborne Trade Drives The Integrated Bridge Systems Market
Rising world seaborne trade is anticipated to drive the integrated bridge system market. The seaborne trade refers to the balance that determines the difference between the volumes of loaded and discharged goods. IBS enables the acquisition and management of sensor data for numerous tasks, including passage execution, communication, machinery control, safety and security, and aiding in maritime commerce. For instance, in 2021, according to the UN Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental institution created to advance developing countries' interests in international commerce, maritime trade is anticipated to grow at an annual rate of 3.4% over the next five years. Therefore, the rising world seaborne trade is driving the growth of the integrated bridge system market.
Competitive Landscape:
Major companies operating in the integrated bridge system market report are Sperry Marine Northrop Grumman, Praxis Automation Technology B.V., Admarel BV, Hensoldt UK, Prime Mover Controls Inc., OSI Maritime Systems, Wartsila Valmarine AS, Alphatron Marine, Consilium Marine & Safety Ab, Danelec Marine A/S, Furuno Electric Co Ltd., Norwegian Electric Systems As, GEM elettronica, L3 Mapps Inc., Mackay Communications Inc., Marine Technologies LLC, Alfa Laval Corporate AB, Atlas Elektronik GmbH, BAE Systems plc, Elcome International LLC, Emerson Electric Co., Fincantieri S.p.A., Garmin Ltd., General Dynamics Corporation, Hatteland Display AS, Honeywell International Inc., Hyundai Heavy Industries Co. Ltd., Japan Radio Co. Ltd., Kelvin Hughes Limited, Leonardo S.p.A., Lilaas AS, Mitsubishi Electric Corporation, Navico Holding AS, Raytheon Technologies Corporation, Rolls-Royce Holdings plc, Saab AB
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Top Trend - Technological Advancements In Integrated Bridge Systems
Technological advancement is a key trend in the integrated bridge systems market. Major companies operating in the integrated bridge system market is concentrating on creating new product solutions to improve their position. For instance, in May 2022, China Railway Hi-tech Industry Corporation, a China-based manufacturer of construction equipment, launched intelligent pile-beam integrated bridge-building machines based on several construction technologies. This is the first intelligent pile-beam integrated bridge-building machine developed in the world based on the BeiDou positioning system that improves efficiency by more than three times, reduces the construction costs incurred by a demolition, reduces construction dust and noise, and avoids damage to the environment in nature compared to traditional single-span bridge construction.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Integrated Bridge System Market Characteristics
3. Integrated Bridge System Market Trends And Strategies
4. Integrated Bridge System Market - Macro Economic Scenario
5. Integrated Bridge System Market Size And Growth
…..
27. Integrated Bridge System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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