Integrated Bridge Systems Market Growing at the Fastest Rate in APAC and North America Region by 2025

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According to the latest market research report
"Integrated Bridge Systems Market by End User
(OEM, Aftermarket), Ship Type (Commercial Bulk
Carriers, Dredgers, Defense Frigates,
Corvettes, OPVs), Subsystem (INS, VDR, AWOS,
AIS), Component (Hardware, Software), and Region
- Global Forecast to 2025", published by
MarketsandMarkets, the Integrated Bridge
Systems Market is estimated to be USD 7.0
billion in 2019 and is projected to reach USD 8.8
billion by 2025, at a CAGR of 3.9 from 2019 to
2025. The market's growth can be attributed to
the rise in seaborne trade and growth
in maritime tourism. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id140505598 "Commercial segment projected
to register higher CAGR than defense segment
from 2019 to 2025" Based on ship type, the
integrated bridge systems market has been
segmented into commercial and defense. The
commercial segment is projected to grow at a
higher CAGR during the forecast period owing to
growth in seaborne trade, leading to an increase
in demand for integrated bridge systems in
commercial ships. Among the commercial ship
types, the dredgers segment is estimated to
witness the highest CAGR over the forecast
period. There is an increasing demand for
dredgers in the marine industry as they serve in
excavation and scraping of the sea bed to ensure
safer voyages. "OEM segment projected to register
higher CAGR than aftermarket segment during
forecast period" By end user, the OEM segment of
the integrated bridge system is expected to
register higher growth than the aftermarket
segment, owing to as increase in demand for
advanced IBS equipped with sensor fusion
solutions by ship owners, due to which the
manufacturers of IBS are focusing on providing a
complete IBS as a package as per new navigation
and safety regulations. A few of the prominent
players in the integrated bridge systems market
include Kongsberg, Northrop Grumman Corporation,
Wartsila, and Raytheon Company. Browse in-depth
TOC on "Integrated Bridge Systems Market" 139
Tables 40 Figures
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180 Pages "Asia Pacific integrated bridge
systems market projected to grow at highest CAGR
from 2019 to 2025" The integrated bridge systems
market is projected to register the highest CAGR
in the Asia Pacific region during the forecast
period. The shipbuilding industry in Asia
Pacific is on the rise, because one-third of the
global container traffic flows through ports in
China. According to the World Shipping Council,
the first 10 busiest container ports are in
Asia. As per UNCTAD, in 2018, 64 of the total
world container port volume was from Asia.
Continues focus on high technology adoption and
support equipment manufacturing has led the
Chinese shipbuilders to dominate the world
market in both commercial and naval shipbuilding
segments globally. The key players in the
region, such as China, South Korea, and Japan,
are making advances in terms of technical
competency so as to capture a greater market
share of the commercial maritime Key Market
Players Some of the key players profiled in the
integrated bridge systems market report include
Kongsberg (Norway), Wärtsilä (Finland), Northrop
Grumman Corporation (US), Raytheon Company (US),
Furuno Electric Co. Ltd. (Japan), and Japan Radio
Co. Ltd. (Japan). Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id140505598 About MarketsandMarkets Mar
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