Global Integrated Marine Automation Systems Market is projected to be valued at USD 4,440 Million by 2028, registering a 2.1% CAGR from 2020 to 2028. The increasing international seaborne trade, growing maritime tourism industry, and rising awareness of cyber threats have contributed to the growth of the global integrated marine automation system market. Furthermore, the increasing adoption of integrated marine automation systems by various commercial ship operators is also expected to drive the global market growth. For example, in September 2019, Windstar Cruises announced to re-engineer its star-class vessels, which will include new automation and control systems, upgraded boilers, ballast water treatment systems, and tank monitoring systems. This will be supplied by FINCANTIERI S.p.A., a provider of ship automation and navigation systems for naval vessels, cruise ships, ferries, and yachts.
However, issues related to the risk of unauthorized access or malicious attacks are expected to hamper the growth of the global market.
Market USP
The global market is expected to grow due to the development of new port cities in rising economies and technological advancements in the marine industry.
Growth Opportunities in the Market
Vessel management system segment to register the highest growth rate: The vessel management system segment is likely to grow with the highest CAGR during the forecast period. Increasing the development of connected and autonomous ships that support advanced vessel management systems is expected to drive the growth of the vessel management system segment.
Commercial segment is expected to be the faster-growing: The commercial segment is projected to grow at the higher CAGR during the study period. Rise in seaborne trade and the increasing demand for reduced operational costs for ships by equipping them with automation systems is projected to drive the growth of the segment in the global integrated marine automation system market.
OEM segment is expected to register the higher CAGR: The OEM segment is expected to grow at the higher CAGR during the review period. Increasing seaborne trade across the globe is expected to lead to new shipbuilding orders. This, in turn, leads to an increase in the requirement for OEM integrated marine automation systems for new ships.
The product segment is expected to register the highest CAGR: The product segment is projected to register the higher CAGR during the forecast period. Installation of various hardware, software, datalinks, and connectivity in marine automation systems is leading to the high growth of the product segment.
Key Players
Honeywell International, Inc. (US)
Northrop Grumman Corporation (US)
ABB Ltd. (Switzerland)
Siemens AG (Germany)
Kongsberg Gruppen ASA (Norway)
Wartsila Corporation (Finland)
Tokyo Keiki Inc. (Japan)
Consilium AB (Sweden)
Thales Group (France)
FINCANTIERI S.p.A. (Italy)
Other Prominent Players
MTU Friedrichshafen (Germany)
Transas Marine Ltd. (Ireland)
Praxis Automation Technology (Netherland)
Marine Technologies, LLC (US)
API Marine Inc. (Denmark)
Rockwell Automation Inc. (US)
Jason Marine Group (Singapore)
Ulstein Group (Norway)
SMEC Automation Pvt. Ltd. (India)
Logimatic (Denmark)
Sedni Marine Systems, Inc. (US)
Rolls-Royce Power Systems AG (Germany)
Complete Report Details @ https://www.marketresearchfuture.com/reports/integrated-marine-automation-system-market-9623
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