An integrated bridge system is mainly used to increase the safety as well as efficiency of naval ships by connecting all the marine ship system into the common networks.
Also, it can be defined as a combination of a computer process and a network. It also controls the information from the ship’s navigation sensors and control system.
Additionally, it mainly provides seamless integration of all navigation functions, uniform presentation of information, and user simplicity to avoid human errors.
Key Market Trends
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the rising seaborne trade. Also, the rise in maritime tourist globally has also fuelled the market growth.
The rise in number of port cities in Asian countries has acted as an opportunity for the market growth over the forecast period.
On the flip side, the digitalization that is leading to cyber threats has hampered the market growth over the forecast period. The systems and components mainly consist of a highly expensive Doppler sonar system, navigation system, communication system, and a radar system. This has hampered the market growth over the forecast period.
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Segmental analysis of the Market
Based on Vessel Type
Commercial vessel
Defence vessel
The commercial vessel segment has dominated the market growth over the forecast period. This is because of the rising exploration of offshore resources and rising construction activities.
Based on component
Hardware
Software
The hardware segment has dominated the market growth over the forecast period. This is because of rising requirement of IBS on commercial vessel as well as defence vessels.
Based on Subsystem
INS
VDR
AWOS
AIS
The VDR segment has dominated the market growth over the forecast period.
North America is anticipated to amplify at a considerable CAGR
The Global Integrated Bridge System Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the market growth over the forecast period. This is because of the rising defence budget for the navy that is increasing the demand for these system in the region, mainly in the U.S.
COMPETITIVE LANDSCAPE
Some of the prominent companies operating in the market are Kongsberg (Norway), Wärtsilä (Finland), Northrop Grumman Corporation (US), Raytheon Company (US), Furuno Electric Co. Ltd. (Japan), Larsen Toubro (India) and Japan Radio Co. Ltd. (Japan), among others.
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