Integrated Bridge System Global Market Report 2024

The global integrated bridge system market 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 expansion observed in the past period can be linked to factors such as adherence to maritime safety regulations, heightened global trade engagements, prioritization of crew training and workload optimization, the pursuit of fuel-efficient practices, a growing consciousness regarding navigation safety, and the global integration of the shipping industry.

The global integrated bridge system market 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 projected growth within this period finds its roots in several key factors such as the upsurge in vessel traffic at ports, a notable shift toward autonomous shipping, heightened attention to environmental compliance, the burgeoning expansion of cruise and passenger shipping, the increasing demand for offshore support vessels, and a growing focus on remote monitoring and diagnostics.

The projected increase in global seaborne trade is poised to propel growth in the integrated bridge system market. Seaborne trade denotes the difference between loaded and discharged goods, and the integrated bridge system (IBS) facilitates sensor data acquisition for tasks such as navigation, communication, safety, and machinery control in maritime commerce. According to the UN Conference on Trade and Development (UNCTAD) in 2021, maritime trade is expected to grow annually by 3.4% over the next five years, affirming the driving force behind the integrated bridge system market's expansion.

The anticipated rise in defense expenditure is set to drive growth within the integrated bridge systems market. This expenditure encompasses financial resources allocated by a state for defense purposes, enabling the adoption of advanced IBS solutions. These systems play a crucial role in enhancing maritime security, situational awareness, and operational efficiency for naval fleets. Notably, the Stockholm International Peace Research Institute reported in April 2022 that global military spending reached an unprecedented $2.1 trillion in 2021, underlining the catalyst behind the integrated bridge systems market's growth.

Technological advancement emerges as a pivotal trend in the integrated bridge systems market. Key industry players are focused on innovating new product solutions to enhance their market position. For example, in May 2022, China Railway Hi-tech Industry Corporation introduced intelligent pile-beam integrated bridge-building machines based on BeiDou positioning technology. This innovation significantly boosts efficiency, reduces construction costs, environmental impact, and enhances construction safety compared to traditional methods.

Innovation remains a cornerstone strategy for major companies within the integrated bridge systems market. These innovations involve continuous development and integration of advanced features to optimize maritime navigation, safety, and operational efficiency. For instance, in November 2022, Radio Zeeland DMP launched the Z-bridge - a comprehensive solution tailored for land and marine seismic crews. This system integrates navigation displays, controls, and communication equipment for enhanced safety and operational functionalities, offering a holistic approach to customers with a focus on automation, security, and connectivity.

In March 2023, Dieter Murmann Beteiligungsgesellschaft (DMB), a German industrial firm, completed the undisclosed acquisition of Anschütz. This strategic move bolsters DMB's maritime portfolio significantly, positioning them to broaden their customer reach through Anschütz's extensive German and international maritime research initiatives. Anschütz, renowned for its ship navigation systems and maritime solutions, operates out of Germany.

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

Asia-Pacific was the largest region in the integrated bridge system market in 2023. The regions covered in the integrated bridge system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the integrated bridge system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key components encompass both hardware and software. Hardware denotes the tangible elements of computers and related devices. Ship categories encompass commercial and defense vessels. Subsystems within this system include an integrated navigation system, voyage data recorder, automatic weather observation system, automatic identification system, among others. These subsystems are applied across various vessels such as megayachts, tankers, container ships, cruise ships, and naval surface ships. They find utilization in both Original Equipment Manufacturer (OEM) setups and aftermarket installations.

This report provides integrated bridge system market statistics, including integrated bridge system industry global market size, regional shares, competitors with an integrated bridge system market share, detailed integrated bridge system market segments, market trends and opportunities, and any further data you may need to thrive in the integrated bridge system industry. This integrated bridge system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The integrated bridge system market consists of ship movement control systems, navigation systems, mapping systems, radar systems, and other types. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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