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Connected Ship Market Share

Report ID: GMI8640
Published Date: Mar 2024
Report Format: PDF

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Connected Ship Market Share

Northrop Grumman Corporation and Wartsila Corporation held significant market share of over 15% market share in 2023. Northrop Grumman invests significantly in innovation and R&D to develop cutting-edge technologies for maritime communication, navigation, and surveillance systems. The company focuses on developing advanced solutions for maritime cybersecurity, autonomous systems, and unmanned maritime vehicles to address changing threats and operational needs.

Wartsila Corporation emphasizes digitalization and smart solutions to optimize vessel performance, reduce operating costs, and enhance sustainability. The company develops integrated solutions for connected ships, including remote monitoring, predictive maintenance, and performance optimization, leveraging data analytics and IoT technologies.

Connected Ship Market Companies

Major companies operating in the connected ship industry are:

Atos SE
Kongsberg Gruppen ASA
KVH Industries
Marlink AS
Northrop Grumman Corporation
ORBCOMM Inc.
Rockwell Automation Inc.
Speedcast International
Viasat, Inc.
Wartsila Corporation

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of connected ship reached USD 6.8 billion in 2023 and is set to witness over 5% CAGR from 2024 to 2032, due to increasing investments in optimizing capacity, routes, and procurement.

The onboard installation type segment accounted for over 60% of the market share in 2023 and is set to exceed USD 6 billion by 2032, led by pivotal role in enhancing operational efficiency for maritime operations.

The vessel traffic management application segment recorded 33% of the market share in 2023, driven by the increasing demand for optimizing routes and vessel speed based on real-time weather data.

Asia Pacific recorded 37% of the market share in 2023, led by the swift pace of advancements, particularly in communication technologies.