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Integrated Bridge Systems Market Share

Report ID: GMI10541
Published Date: Jul 2024
Report Format: PDF

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Integrated Bridge Systems Market Share

Wärtsilä Corporation and Kongsberg Gruppen hold a significant share of over 10% in the market. Companies such as Wärtsilä Corporation, Kongsberg Gruppen, and Northrop Grumman Corporation are at the forefront, offering comprehensive IBS solutions that integrate advanced navigation, communication, and automation technologies. These industry leaders invest heavily in research and development to innovate and enhance their product offerings, ensuring they meet the evolving demands of the maritime sector. Strategic acquisitions and partnerships further strengthen their market positions, allowing them to expand their customer base and enter new geographic regions.

In addition to these major players, the integrated bridge systems market also includes specialized companies like Furuno Electric Co., Ltd., and Mitsubishi Electric Corporation, which focus on specific components and technologies within the IBS ecosystem. These firms differentiate themselves by providing highly customized and reliable solutions tailored to various vessel types, including commercial and defense ships. The competitive landscape is further intensified by the increasing importance of cybersecurity and autonomous navigation, driving companies like L3Harris Technologies, Inc., and Rolls-Royce plc to incorporate cutting-edge AI and cybersecurity measures into their systems.

Integrated Bridge Systems Market Companies

Major players operating in the integrated bridge systems industry are:

Wartsila Corporation
Kongsberg Gruppen
Northrop Grumman Corporation
Rolls-Royce plc
Furuno Electric Co., Ltd.
L3Harris Technologies, Inc.
Mitsubishi Electric Corporation

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of integrated bridge systems reached USD 6.53 billion in 2023 and is set to register a CAGR of over 7% between 2024 and 2032, driven by the necessity to meet regulatory requirements and enhance the overall safety and efficiency of maritime operations.

The hardware segment will gain traction over 2024 and 2032, due to the substantial investments required for high-quality, advanced maritime hardware for ensuring precise navigation, robust communication, and effective situational awareness on vessels.

Asia Pacific held the largest market share of over 37% in 2023, led by the region's burgeoning maritime industry and increasing investments in naval modernization.