Integrated Bridge Systems Market Size, Share, Growth Analysis, By Ship Type(Commercial Ship ( Bulk Carrier, Cruises, Dry Cargo, Tankers), By Sub System(INS (Navigation Radar, ARPA Radar, Gyros, Echo Sounder), By Component(Hardware( Displays, Control Unit, Data Storage Devices, Sensors), By End User(OEM( Commercial, Defense), Aftermarket (Parts, Maintenance)), By Region - Industry Forecast 2024-2031

Integrated Bridge Systems Market Driver

• Technological Progress such as the Naval Users' Robotic Ship Maintenance System

Integrated bridge systems with new technology, such robotic bridge maintenance systems, provide safe and effective maritime operations. Over the past few decades, this technique in the global integrated bridge systems market has been applied to construction projects in the marine sector. The four primary capabilities of the robotic maintenance are remote inspection, spray washing, paint removal, and painting. Automated robotic systems were first created to lessen the amount of manpower needed, speed up construction, lower maintenance expenses, and increase work productivity.

IBS market expansion is being driven by rising demand for robotics technology in naval maintenance tasks.

• Rising Global Seaborne Trade to Aid Market Growth

Over the next five years, marine trade is anticipated to rise at a rate of 3.4 percent annually, according to UNCTAD. This expansion is linked to the rising commerce in crude oil exports to the Asia-Pacific region from the Atlantic basin. The demand for IBS-enabled naval ships including dredgers, bulk carriers, and oil & gas tankers is being driven by an increase in global commerce volume. The integrated bridge systems market is expected to grow as a result of China's expanding intra-Asian trade operations and rising merchandise trade in Europe.

Integrated Bridge Systems Market Restraint

• High Development Costs

The systems and components include a high-priced Doppler SONAR system, sensor systems, navigation systems, communication systems, and a radar system. Due to the failure of the radar and navigation system components, the conventional system must be replaced. Furthermore, there are numerous possibilities for integrated bridge system failures in maritime vessels, which could lead to an increase in system maintenance costs. As a result, the market's expansion is hampered by high installation and maintenance costs.