Integrated Bridge Systems Market

Raytheon Company (Raytheon), Northrop Grumman Corporation (Northrop Grumman) and Kongsberg (Kongsberg Gruppen) are Leading Players in the Integrated Bridge Systems Market

The integrated bridge systems market size is projected to grow from USD 7.0 billion in 2019 to USD 8.8 billion by 2025, at a CAGR of 3.9% from 2019 to 2025. The rise in seaborne trade and growth in maritime tourism are the major factors driving the growth of the integrated bridge systems market.

Major players in the integrated bridge systems market include the Raytheon Company (US), Northrop Grumman Corporation (US), Wärtsilä (Finland), Kongsberg (Norway), and Furuno Electric Co. Ltd. (Japan). These players have adopted various strategies, such as new product launches & developments, agreements, partnerships, joint ventures, acquisitions, and expansions, to increase their foothold in the market. Of these, new product developments, acquisitions, partnerships, were the major strategies adopted by market players between 2016 and 2019 to help them expand their product portfolio with innovative products and, consequently, enhance their customer base.

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The Raytheon Company (Raytheon) is a leading player in the integrated bridge systems market. The company is majorly focusing on new product developments and partnerships to expand its product portfolio and expand its customer base. In October 2019, Raytheon developed a novel harmonic radar system, which improves sea rescue, together with the Institute of Microwave and Plasma Technology, the Fraunhofer Institute for Radio Frequency Physics, and Radar Technology FHR. The new system is capable of detecting and tracking even small targets reliably and safely. In September 2019, Raytheon partnered with Babcock (UK) and Thales (France) for the delivery of its Warship Integrated Navigation and Bridge Systems, or WINBS, to the UK Royal Navy’s new Type 31e frigates. Raytheon is now the provider of bridge systems provider for all new Royal Navy combatants.

Northrop Grumman Corporation (Northrop Grumman) majorly focuses on securing contracts to expand its customer base in the integrated bridge systems market. In October 2019, it entered into a contract with MontaVista, according to which the MontaVista CGX Linux will be used in Northrop Grumman’s VisionMaster Net. In October 2018, Northrop Grumman won a contract for the delivery of integrated bridge and navigation systems to the US Navy. This contract was made to support the modernization efforts of the US Navy on its Arleigh Burke-class destroyers.

Kongsberg (Kongsberg Gruppen) is a major player in the integrated bridge systems market. The company is majorly focused on contract and acquisition strategies to strengthen its foothold in the market. In July 2019, it won a contract from T.Marrioti, a shipbuilding firm based in Italy, to provide its K-Bridge Integrated Bridge System, which will have a dynamic positioning functionality. In April 2019, the company acquired Rolls-Royce Commercial Marine, which now operates under Kongsberg Gruppen. These acquisitions are expected to help the company increase its global reach and, eventually, revenue.

Related Reports:

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

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Report Code
AS 4843
RI Published ON
1/7/2020
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