HOME Research Insight New Product Launches & Agreements Were Among the key Strategies Adopted by Leading Players to Grow in the Integrated Bridge Systems Market

New Product Launches & Agreements Were Among the key Strategies Adopted by Leading Players to Grow in the Integrated Bridge Systems Market

An Integrated Bridge System (IBS) is defined as a combination of systems which are interconnected in order to allow centralized access to sensor information or command/control from workstations, with the aim of the safer and more efficient management of a ship by suitably qualified personnel. The components which are usually interconnected in the integrated bridge system are, the gyro compass, radar, echo sounder, AIS and GPS ECDIS & positioning system, GMDSS, motion sensors, autopilot, voyage data recorder, satcom, CCTV and wheel house console, propulsion system, microphone, telescopic bearing, encoder, wind speed and direction system, and desk mount brackets. The integrated bridge systems market is estimated to be valued at USD 5.08 Billion in 2016 and is projected to reach USD 5.60 Billion by 2021, at a CAGR of 1.97% from 2016 to 2021.

Technological changes are taking place in the navigation systems of ships so as to reduce human error, as well as to enhance safety, and to increase the operational efficiency. The introduction of e-navigation is one of the main steps taken by the International Maritime Organization (IMO) which is expected to help the shipping industry in reforming the navigation systems. According to IMO, e-navigation is defined as “the harmonized collection, integration, exchange, presentation, and analysis of marine information on board and ashore, by electronic means, to enhance berth to berth navigation and related services for safety and security at sea and the protection of the marine environment.”

The key players in the integrated bridge systems market include, Northrop Grumman Sperry Marine, Raytheon Anschutz, FURUNO Electric Shokai Ltd, and Kongsberg Maritime. These market players have been focusing on securing contracts from shipyards and shipbuilding companies as the major strategy for their organic growth. Their core competencies include the high investments in R&D activities.

Raytheon Anschutz is a major player in the integrated bridge systems market. The company has been focusing on enhancing the technical competence of the products offered, and also to secure contracts during the past few years. Raytheon Anschutz was selected by BAE systems to provide the Integrated Navigation and Bridge System (INBS) for the U.K. Royal Navy’s new Type 26 Global Combat ships in August 2015, and in June 2015, Raytheon Anschütz signed a contract for the delivery of Synapsis Integrated Navigation Systems (INS) to five 14,500TEU Container Vessels to be constructed at Hudong- Zhonghua Shipbuilding Co. Ltd. With regards to new product launches, Raytheon Anschutz launched a new version of their Synapsis Tactical Command System (SYNTACS) with enhanced features such as, the incorporation of ballistic modules, weapon computer, and additional shipborne surveillance equipment, so that the system provides a complete fire control solution.

Another major player in the integrated bridge systems market is Kongsberg Maritime. In June 2015, the company launched an advanced range navigation system which works with the current K-Bridge Integrated Navigation System (INS). Kongsberg Maritime acquired the Ship Modelling & Simulation Centre AS (SMSC), the ship simulation and consultancy company based in Trondheim to maintain their leadership in the marine simulation market.

Related Reports:

Integrated Bridge Systems Market by Platform (Commercial Ships, Naval Warships), Component (Small Ship IBS, Medium Ship IBS, Large Ship IBS), Size (Small Ships, Medium Ships, Large Ships), Module, Software Providers, Region - Global Forecast to 2021

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