Connected Ship Companies - ABB (Switzerland) and Emerson Electric Co. (US) are the Key Players
The Connected Ship Market is projected to grow from USD 11.3 Billion in 2023 to USD 17.2 Billion by 2028, at a CAGR of 7.7% during the forecast period. The growing demand for Connected ship and the continuous development of new technologies that make Connected Ships more competent and affordable are projected to propel the Connected Ship market in the upcoming years.
Major manufacturers in this market are based in North America and Europe.
Major Connected Ship Companies Include:
- ABB (Switzerland)
- Emerson Electric Co. (US)
- Kongsberg Gruppen ASA (Norway)
- Wartsila (Finland)
- Thales Group (France)
A major focus was given to the development of new technologies due to the changing requirements of Connected Ship customers across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to further expand their presence in the Connected Ship market.
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ABB is a Switzerland multinational one of the leading manufacturers of industrial equipment and systems. The company’s strength lies in continuously improving its processes and automation methods. In April 2023, Finnish Board Guard (Finland) awarded the company a contract to provide supply an integrated power and propulsion package comprising dual Azipod propulsors and an onboard DC grid power system for two newbuild Finnish border guard patrol vessels. It also strives to increase its market share in the connected ship market by securing maritime, navy, and government contracts and agreements globally.
Emerson Electric Co. (US) Emerson is among the leading provider of connected ship technology and helping the maritime industry to improve safety, efficiency, and compliance. The company is a global technology, software, and engineering company that provides innovative solutions for customers in industrial, commercial, and residential markets. Emerson offers products and services which includes process automation, networked control systems, building automation, networked power grid solutions, and industrial automation software and hold prominent place in the development of connected ship technology.
Wartsila is a global leader in innovative technologies and lifecycle solutions for the marine and energy markets. The company operates in five business segments: Marine Power, Marine System, Voyage, Energy and Portfolio Business. The Marine Power, Marine System, Voyage segment provides Connected Ships solutions globally. It is also one of the leading companies in Connected Ships and provides various Automation solution along with Voyage and fleet optimization globally.
Kongsberg Gruppen ASA is one of the leading global technology corporation delivering mission-critical solutions with extreme performance. The company operates through three business segments: Kongsberg Maritime, Kongsberg Defense & Aerospace and other activities. The company provides Connected Ship solutions like Fleet Management, Monitoring systems, Bridge system, Positioning & Stabilisation. The major subsidiaries of the company are Kongsberg Defense & Aerospace AS, Kongsberg Maritime AS, and Kongsberg Next AS. The company, along with its subsidiaries, offers high-technology systems to the shipping, oil & gas, and aerospace & defense industries
Thales Group is a leading technology multinational company that designs and manufactures electronic equipment and systems for different business sectors. Thales Group provides a wide range of solutions in the Connected Ships market through its Defence & Security segment. The other company Aerospace, Digital Identity & Transport and others. The company is building Future Maritime Sustainment Model (FMSM) for Australian Navy Fleet Readiness. The company holds extensive expertise in system integration, allowing it to seamlessly integrate various components and subsystems to create comprehensive connected ship-based systems and solutions.
Related Reports:
Connected Ship Market by Application (Vessel Traffic Management, Fleet Operation, Fleet Health Monitoring, Other Applications), Installation (Onboard, Onshore), Platform (Ships, Ports) & Fit (Line Fit, Retrofit, Hybrid Fit) and Global Forecast to 2028
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