Integrated Bridge System Market Size, Share & COVID-19 Impact Analysis, By Vessel Type (Commercial Vessel: Bulk Carriers, Cruise Ships, Dry Cargo, Gas Tankers, Ro-Ro Ships, Dredgers, and Others), and Defense Vessel: Aircraft Carriers, Amphibious Ships, Destroyers, Frigates, Corvettes Among and Others) By Component (Hardware and Software), By Subsystem (INS, VDR, AWOS, and AIS), By End User (OEM and Aftermarket), and by Regional Forecast, 2023-2030

The global integrated bridge system market size was valued at USD 7.84 billion in 2022 and is projected to grow from USD 8.06 billion in 2023 to USD 10.06 billion by 2030, exhibiting a CAGR of 3.2% during the forecast period. North America dominated the integrated bridge system market with a market share of 37.88% in 2022.

Integrated bridge systems are used to increase the safety and efficiency of naval vessels by connecting all shipboard systems to a shared network. IBS is a combination of technologically advanced systems interconnected to allow centralized access from workstations. It consists of a computer processor and a network that feeds data through the ship's navigation sensors and control system. The primary advantages of IBS include seamless integration of all navigation functions, unified information presentation, unified operating principles, and the facility to avoid human errors.

The market is driven by growth in global maritime trade and maritime tourism. The expansion of port cities in Asian countries presents a market opportunity. However, digitization leading to cyber threats is curbing market growth. The increasing demand for naval vessels is another factor contributing to the growth of the market.

COVID-19 IMPACT

COVID-19 Pandemic Impacted Global Trade Flows Negatively Owing to Supply Chain Disruptions, Due to Lockdown Globally

The COVID-19 pandemic disrupted global trade flows at an unprecedented speed and scale. During the pandemic, access to essential commodities and medical supplies was ensured by the rapid adaptability of maritime supply chains. UNCTAD forecasted a decline of 5% in global trade in goods for the first quarter of 2020 and an additional 27% decline in the second quarter. For the full year, UNCTAD expected global trades to drop 20%. The World Bank also noted that trade in goods appeared to bottom out in April, dropping nearly 20% year-on-year after falling 10% in March. The pandemic’s impact on was considered worse than the 2008-2009 financial crisis.

The development of global trade was mixed, with the steepest year-on-year contraction in April 2020 in the Middle East, suggesting trade fall up to 40%. After the World Health Organization (WHO) declared a pandemic in mid-March 2020, trade collapsed in Sub-Saharan Africa, Latin America, the Caribbean, North Africa, North America, and the European Union (EU 27). The fall in East Asia and Pacific trade was less severe, with exports down 7% in the first quarter of 2020 and 4% in April. China outperformed other major economies in April, and exports have grown modestly. However, May 2020 data shows that China's imports and exports fell by about 8%. Developing and developed countries observed a slowdown in trade, however, developing country-level trade, especially imports appears to be declining rapidly.

Integrated Bridge System Market Trends

Rising Adoption of Cascade Adaptive Bridge System Technology Refuels the Market Growth

Cascade Adaptive Bridge is a new way to share and display information about the Navy's ship bridge. It is a combination of a touch screen and a split screen that allows users to monitor all activities on board and thus monitor the development of the market. A touch and split screen is projected on the bridge to facilitate communication. The split screen can display graphically marked cards, leave notes for team members and fill out checklists electronically. The widespread adoption of digital technology in the marine industry contributes to the market's growth.

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Integrated Bridge System Market Growth Factors

Technological Advancement Such as Robotic Ship Maintenance Systems from the Naval Users Aid Growth

New technologies in integrated bridge systems, such as robotic bridge maintenance systems, provide safe and efficient transportation. This technology has been used in construction applications in the marine industry in recent decades. Robot maintenance has four main functions - remote control, spray washing, paint removal, and painting. Automated robotic systems were initially developed to reduce labor requirements, construction time, and maintenance costs and improve operational efficiency. The growth of the IBS market is boosted by the growing demand for robotic technology in ship maintenance.

Rising World Seaborne Trade to Help the Market Gain Momentum 

The United Nations Conference on Trade and Development (UNCTAD) expects maritime trade to grow by 3.4% annually over the next five years. The increase is due to the growing oil transport business from the North Atlantic to the Asia-Pacific region. Growing global trade and demand for IBS-enabled warships such as dredgers, bulk carriers, and oil and gas tankers drive the demand for integrated bridge systems. The market is boosted by China's Asian trade and increased European trade.

RESTRAINING FACTORS

High Development Cost of Integrated Bridge Systems to Restrict the Market Growth

The high development costs associated with constructing an integrated bridge system are a significant factor restraining the market's growth. Integrated bridge systems and components consist of expensive Doppler SONAR, sensors, navigation, communications, and radar systems. Failures of navigation system components and parts of the radar system are responsible for replacing the traditional system. In addition, marine vessels have multiple opportunities for integrated bridge system failure, which can lead to increased system maintenance costs. Thus, high maintenance and installation costs are restraining the growth of this market.

Integrated Bridge System Market Segmentation Analysis

By Vessel Type Analysis

Commercial Ships Segment Led Due to Growth in the Maritime Traffic

The market is classified by ship type into commercial and defense ships. The commercial ship segment comprises cargo ships, cruise ships, bulk carriers, tankers, ro-ro ships, and dredgers. Cargo ships are used in maritime trade, and cruise ships in maritime tourism. The commercial ships segment dominated the market with the largest market share in 2022. The growth of international maritime traffic increases the demand for dry cargo vessels equipped with integrated bridge systems.

Growing exploration for offshore resources and increasing construction activity have increased the demand for dredgers and tankers.

The defense ship segment includes aircraft carriers, amphibious assault ships, destroyers, frigates, and corvettes. Aircraft carriers have an extended flat deck where planes can conveniently take off and land. For Instance, in January 2023, The Indian Ministry of Defense signed a contract with a local shipyard to build 11 Next Generation Ocean Patrol Vessels (OPV) and 6 Next Generation Missile Vessels (NGMV) for the Indian Navy. A contract to acquire 11 of her OPVs has been signed with Goa Shipyards Ltd (GSL) and Garden Reach Shipyards and Engineers (GRSE) of Kolkata.

By Component Analysis

Increasing Use of IBS in the Naval Vessels to Support the Growth of the Market

The market segments include hardware-based and software-based components. The hardware segment includes displays, controls, data loggers, sensors, alarms, and more. This segment is anticipated hold the largest market share during the forecast period. Its growth is attributed to the growing need for IBS in commercial and defense ships. The software segment includes Synapsis NX, K Bridge Sensor Integrator (SINT), Visionmaster FT, Napa Logbook, and Navi-Planner 4000 software. The software segment will grow significantly during the forecast period. Growth is fueled by increased demand for shipbuilding fleet software.

By Subsystem Analysis

Use of Voyage Data Recorders for Improving the Safety of Naval Ships to Propel the Market

This market is segmented by subsystem into integrated navigation systems (INS), voyage data recorders (VDR), automatic weather observation systems (AWOS), and automatic identification systems (AIS). The INS system consists of a navigation radar, gyro, depth sounder, electronic chart display, information system (ECDIS), a differential global positioning system (DGPS), bridge communication console, autopilot, magnetic transmission compass, bridge navigation monitoring, and warning system. It consists of (BNWAS). This segment is projected to have the largest HIS IBS market share during the forecast period. This growth is due to the increasing focus on using HIS INS systems for navigation on naval vessels.

The voyage data recorders segment is expected to grow at the fastest growth rate during the forecast period. This growth is due to the increasing use of VDR systems on naval vessels. This system helps improve the safety of naval vessels during sea operations. Automatic weather stations are installed on ships to improve weather observations at sea. AIS is an automatic positioning system that uses naval vessel transponders. AIS is used in naval vessel traffic services. Therefore, increasing demand for AIS in merchant and passenger ships for handling marine traffic drives the market.  

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By End User Analysis

Growing Commercial Naval Vessel Deliveries to Support the Growth of the OEM Segment

By end users segment, this market is bifurcated into OEM and aftermarket. The OEM segment is expected to grow the fastest during the forecast period. This growth is due to increasing demand for advanced integrated bridge systems for warships.

The aftermarket segment includes servicing of IBS components. The aftermarket segment is expected to hold the largest market share during the forecast period. The growth is due to the increased staggering of vessels in the merchant fleet to improve passenger safety.

REGIONAL INSIGHTS

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The IBS market is segmented into North America, Europe, Asia Pacific, Middle East, and the Rest of the World. This market is estimated to be dominated by North America, followed by Europe and Asia Pacific. North America is expected to hold the largest market share, as most of the integrated bridge system developers are based in the region. This growth is due to an increase in the Navy's defense budget, which has increased the demand for integrated bridge systems in the U.S. In addition, increasing Canadian exports and economic development are expected to drive the growth of this market.

According to the market forecast, Asia Pacific is expected to be the largest region during the forecast period. This growth can be attributed to increased cruise and fishing activity in China and increased demand for merchant vessels. Increased shipbuilding activity in South Korea is expected to boost the market.

In Europe, increasing oil and gas production, exploration activities, and marine activities are expected to increase the market share of integrated bridge systems. In the U.K., growth in the defense shipbuilding industry will boost the market.

The Middle East also is also anticipated to exhibit significant growth during the forecast period due to an increase in the number of naval vessel deliveries in the UAE. The rest of the world will witness impressive growth during the forecast period. This growth can be attributed to the expanding cruise and fishing industries in Latin America, the Middle East, and Africa.

Key Industry Players

Development of Innovative Technology by the Key Market Players Such as Waertsila and OIS to Propel Market Growth

E-navigation, 3D printing, 3D sonar, 5G connectivity, and mobile navigation applications are future trends in the integrated bridge system market growth. A diversified product portfolio combined with research and development is crucial in giving these giants an edge in the market. Wartsila offers propulsion control systems, complete advanced systems of controls, displays, modules, and indicators. The system is designed for all propulsion configurations for technologically advanced sea and ocean vessels.

List of Top Integrated Bridge System Companies:

• Alphatron Marine B.V.  (Netherlands)


• Consilium Marine & Safety Ab (Sweden)


• Danelec Marine A/S (Denmark)


• Furuno Electric Co. LTD. (Japan)


• DSME Co., Ltd. (South Korea)


• Gem Elettronica (Italy)


• Hensoldt UK (U.K)


• L3 Mapps Inc. (Canada)


• Japan Radio Co., LTD. (Japan)


• Kongsberg (Norway)


• Mackay Communications, Inc. (U.S)


• Marine Technologies LLC (Norway)


• Naudeq (France)


• Noris Group GmbH (Germany)


• Northrop Grumman Corporation (U.S.)


• OSI Maritime Systems (Canada)


• Praxis Automation Technology B.V. (Netherlands)


• Prime Mover Controls Inc. (Canada)


• The Raytheon Company (U.S.)


• Tokyo Keiki Inc. (Japan)


• Wärtsilä Oyj Abp. (Finland)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 - South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) has been awarded a USD 521 million contract to build two new liquefied natural gas (LNG) vessels for Maran Gas Maritime, in Angelicoussi, Greece. Both ships are expected to be delivered in the first half of 2027 and will be built at DSME's Okpo Shipyard in South Gyeongsang Province, Maeil Business News Korean Pulse reports.


• January 2023 - Korea Shipbuilding and Offshore Engineering (KSOE) signed three new LNG shipbuilding contracts for its subsidiaries in 2023, totaling more than half a dozen vessels. KSOE has released the third gas shipbuilding contract of 2023. The deal, valued at USD 195.5 million, includes two large gas carriers (VLGCs), according to the company's stock exchange filing.


• December 2022 - Royal Caribbean Group announced that it had signed a declaration to map the path of innovative and sustainable shipbuilding in Finland. Signed with the Finnish government, represented by the Ministry of Economy and Employment (MEAE) and shipbuilder Meyer Turku Oy, to promote innovation, strengthen competitiveness and strengthen the ecosystem of the shipping industry, Royal Caribbean USA said.


• September 2021 - Rolls-Royce and Sanlorenzo have agreed to deepen their successful collaboration and give the partnership a new dimension in the coming years with future technologies: Rolls-Royce's Power Systems business unit will be one of Sanlorenzo's main suppliers for the next three years. The leading propulsion supplier for selected SL series pleasure boats supplies mtu 10V, 12V, and 16V 2000 outboard motors with a compact IMO 3 solution. Sanlorenzo is among the first builders to equip a yacht with the new mtu NautIQ Bridge fully integrated bridge solution. Both partners signed an agreement to this effect at the Monaco Yacht Show.


• June 2021 - Kongsberg Maritime won a USD 21 million contract for two new integrated bridge system equipment packages for Ventomark Wind Service ships.

REPORT COVERAGE

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The market report provides a qualitative and quantitative overview of this market. It offers an in-depth analysis of the market size and growth rates across all potential market segments. The IBS market report also provides an in-depth analysis of market dynamics, emerging trends, and competitive landscape. Key insights of the report include adoption trends of integrated bridge systems in individual segments, current industry developments such as mergers and acquisitions, partnerships, integrated SWOT analysis of key players, Porter's Five Forces analysis, and businesses of crucial market players, as well as macroeconomic and microeconomic indicators, and major industry trends.

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