Market Overview:

An Integrated Bridge System (IBS) is a series of closely grouped and connected displays and modules that provide centralized access to navigation, propulsion, surveillance and control information. The objective of IBS is to improve the safe and efficient management of vessels by the qualified operator.

Recent Developments:

Furuno Electric Co has struck a deal with Böning Automationstechnologie and ClassNK's subsidiary Napa to improve their existing integrated bridge solutions. Böning provides vessel monitoring, alerting and control data solutions for Furuno's deck, navigation and communications technology.

Market Drivers and Restraints:

The market for integrated bridge systems is expected to experience considerable growth during the forecast period due to the increase in global maritime trade coupled with the increase in maritime tourism. Another factor responsible for the growth of the market is the increasing adherence to maritime safety regulations. However, potential cyber threats associated with digitization can hamper the growth of the integrated bridge systems market. Despite this, the rapid growth of port cities in developing countries is believed to offer key growth opportunities for players operating in the Integrated Bridge Systems market during the outlook period.

Impact of COVID-19 on Integrated Bridge Systems Market:

Amid the coronavirus crisis, the global market for integrated bridge systems is expected to reach a revised size of US $ 5.5 billion by 2027, at a CAGR of 0.9% during the 2020-2027 period. Commercial vessels, one of the segments analyzed in the report, is expected to register a CAGR of 0.7% and reach US $ 4.1 billion by the end of the analysis period. After the primary study of the business implications of the pandemic, the growth of the Naval Warships segment is likely to develop with a modifies CAGR of 1.3% for the next seven years.

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Report is segmented as:

By End Use Operation:

Commercial
Naval (Government)
Integrated bridge systems are used by the military for automated collection, control, processing, and display of vessel control and important data from navigation sensors.

By Application:

Vessels
Megayachts
Tankers
Container ships
Cruise ships
Naval surface ships
Geographical segmentation:

Based on geography, the global integrate bridge system market is segregated into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these, Europe and North America are considered as the main end users of these integrated bridge system compared to others. Growth in shipping and increased import and export operations will increase operators' revenues and support the installation of an integrated bridge system.

Key market players:

Consilium
FURUNO ELECTRIC CO., LTD.
Kongsberg Maritime
Marine Technologies, LLC
Northrop Grumman Sperry Marine B.V.
Praxis Automation Technology B.V.
Raytheon Anschütz GmbH
TOKYO KEIKI
Transas Marine Limited
Wärtsilä Corporation
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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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