Abstract
Summary
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. Technological advancements and increase in seaborne trade across the globe are driving the growth of the market.
The Line fit segment is projected to witness the highest CAGR during the forecast period.
Based on Fit, the Line fit segment of the Connected Ship market is projected to hold the highest growth rate during the forecast period. The line fit offers installation of advanced technology for connected ship during its construction , such as the Very Small Aperture Terminal (VSAT), Automatic Identification System (AIS) and Electronic Chart Display (ECD) to improve efficiency, safety and situational awareness for connected ship.
The Onboard segment is projected to dominate the market share by Installation.
Based on Installation, the Onboard segment is projected to dominate the market share during the forecast period. A Onboard installation is integrated systems, sensors, and data processing infrastructure installed on the ship. Onboard installation offers Navigation and automation system to enhanced safety, efficiency and real- time data collection for enhance situational awareness.
Asia Pacific is expected to account for the largest market share in 2023.
The Connected Ship market industry has been studied in North America, Europe, Asia Pacific, Rest of the World. Asia Pacific accounted for the largest market share for connected ship. China leads the market in Asia Pacific with a large number of companies and startups operating in the industry. The country is playing a vital role in the advancement and manufacturing of Connected ship. The market is expected to expand owing to the demand for connected ship system to improve fleet management, security and fleet operation.
The break-up of the profile of primary participants in the CONNECTED SHIP market:
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C Level – 40%, Managers – 35%, Others-25%
• By Region: North America –10%, Europe – 20%, Asia Pacific – 40%, Rest of the World – 30%
Prominent companies include ABB (Switzerland), Emerson Electric Co. (US), Kongsberg Gruppen ASA (Norway), Wartsila (Finland), and Thales Group (France), among others.
Research Coverage:
This research report categorizes the Connected Ship market by Application (Vessel Traffic Management, Fleet Operation, Fleet Health Monitoring, Other Applications, by Installation (Onboard, Onshore) , by Platform (Ships, Ports) and fit (Line fit, Retrofit, Hybrid fit), and by region (North America, Europe, Asia Pacific, Rest of the World). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Connected Ship market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services; key strategies; Contracts, partnerships, and agreements. New product & service launches, mergers and acquisitions, and recent developments associated with the Connected Ship System market. Competitive analysis of upcoming startups in the Connected Ship market ecosystem is covered in this report.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Connected Ship System market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Incorporation of ICT in marine industry, Increased spending on digitalization of vessels, Increase in global seaborne trade, Need for situational awareness in fleet operations, Growing maritime tourism industry), restraints (High cost of marine broadband connectivity, Digitalization renders connected ships vulnerable to cyber threats), opportunities (Rigorous development of connected autonomous ships Adoption of Vessel Traffic Services (VTS) by shipping companies, Adoption of vessel traffic services by shipping companies, Development of new port cities in emerging economies), and challenges (Limited Internet facilities in connected ships, Lack of skilled personnel to handle and operate connected ships) influencing the growth of the authentication and brand protection market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Connected Ship market
• Market Development: Comprehensive information about lucrative markets – the report analyses the Connected Ship market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Connected Ship market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the Connected Ship market
Table of Contents
1 INTRODUCTION 36
1.1 STUDY OBJECTIVES 36
1.2 MARKET DEFINITION 36
1.3 STUDY SCOPE 37
1.3.1 MARKETS COVERED 37
1.3.2 REGIONS COVERED 38
1.3.3 YEARS CONSIDERED 38
1.4 INCLUSIONS AND EXCLUSIONS 39
1.5 CURRENCY CONSIDERED 39
1.6 STAKEHOLDERS 40
1.7 SUMMARY OF CHANGES 40
1.7.1 RECESSION IMPACT 40
2 RESEARCH METHODOLOGY 41
2.1 RESEARCH DATA 41
2.1.1 SECONDARY DATA 42
- 2.1.1.1 Key data from secondary sources 42
2.1.2 PRIMARY DATA 43
- 2.1.2.1 Industry insights 43
- 2.1.2.2 Key data from primary sources 44
- 2.1.2.3 Primary sources 44
2.2 FACTOR ANALYSIS 45
2.2.1 INTRODUCTION 45
2.2.2 DEMAND-SIDE INDICATORS 46
2.2.3 SUPPLY-SIDE INDICATORS 46
2.3 RESEARCH APPROACH AND METHODOLOGY 46
2.3.1 BOTTOM-UP APPROACH 47
- 2.3.1.1 Market size estimation process 47
2.3.2 TOP-DOWN APPROACH 48
2.4 DATA TRIANGULATION 49
2.5 RECESSION IMPACT ANALYSIS 50
2.6 RESEARCH ASSUMPTIONS 50
2.7 RESEARCH LIMITATIONS 50
2.8 RISK ANALYSIS 50
3 EXECUTIVE SUMMARY 51
4 PREMIUM INSIGHTS 55
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CONNECTED SHIP MARKET 55
4.2 CONNECTED SHIP MARKET, BY PLATFORM 56
4.3 CONNECTED SHIP MARKET, BY SHIP TYPE 56
4.4 CONNECTED SHIP MARKET, BY PORT TYPE 57
4.5 CONNECTED SHIP MARKET, BY COUNTRY 57
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 58
5.2.1 DRIVERS 59
- 5.2.1.1 Incorporation of ICT in marine industry 59
- 5.2.1.2 Increased spending on digitalization of vessels 59
- 5.2.1.3 Surge in global seaborne trade 59
- 5.2.1.4 Need for situational awareness in fleet operations 59
- 5.2.1.5 Growing maritime tourism industry 60
5.2.2 RESTRAINTS 60
- 5.2.2.1 High cost of marine broadband connectivity 60
- 5.2.2.2 Vulnerability of connected ships to cyber threats 61
5.2.3 OPPORTUNITIES 62
- 5.2.3.1 Rigorous development of connected autonomous ships 62
- 5.2.3.2 Adoption of vessel traffic services by shipping companies 62
- 5.2.3.3 Development of new port cities in emerging economies 62
5.2.4 CHALLENGES 63
- 5.2.4.1 Limited Internet facilities in connected ships 63
- 5.2.4.2 Shortage of skilled personnel 63
5.3 IMPACT OF RECESSION ON CONNECTED SHIP MARKET 63
5.4 VALUE CHAIN ANALYSIS 64
5.5 TECHNOLOGICAL EVOLUTION IN CONNECTED SHIP MARKET 65
5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 66
5.7 ECOSYSTEM MAPPING 66
5.7.1 PROMINENT COMPANIES 66
5.7.2 PRIVATE AND SMALL ENTERPRISES 66
5.7.3 RESEARCH ORGANIZATIONS 66
5.8 PORTER’S FIVE FORCES ANALYSIS 68
5.8.1 THREAT OF NEW ENTRANTS 69
5.8.2 THREAT OF SUBSTITUTES 69
5.8.3 BARGAINING POWER OF SUPPLIERS 69
5.8.4 BARGAINING POWER OF BUYERS 69
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 69
5.9 PRICING ANALYSIS 69
5.10 TARIFF AND REGULATORY LANDSCAPE 70
5.11 TRADE ANALYSIS 73
5.12 PATENT ANALYSIS 74
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
5.13.2 BUYING CRITERIA 78
5.14 KEY CONFERENCES AND EVENTS, 2023-2024 79
5.15 TECHNOLOGY ANALYSIS 79
5.15.1 KEY TECHNOLOGY 79
- 5.15.1.1 Artificial Intelligence (AI) 79
5.15.2 SUPPORTING TECHNOLOGY 79
- 5.15.2.1 Internet of Things (IoT) 79
5.16 CASE STUDY ANALYSIS 80
5.16.1 ADVANCED CONNECTIVITY SOLUTIONS 80
5.16.2 SEAVISION BY KONGSBERG MARITIME 80
5.17 OPERATIONAL DATA 81
6 INDUSTRY TRENDS 82
6.1 INTRODUCTION 82
6.2 SUPPLY CHAIN ANALYSIS 82
6.3 TECHNOLOGY TRENDS 83
6.3.1 GLOBAL NAVIGATION SATELLITE SYSTEMS 83
6.3.2 HIGH THROUGHPUT SATELLITES 83
6.3.3 DIGITAL MARINE AUTOMATION SYSTEMS 83
- 6.3.3.1 Sensor fusion solutions 83
- 6.3.3.2 Control algorithms 84
- 6.3.3.3 Conning systems 84
- 6.3.3.4 Connectivity solutions 84
- 6.3.3.5 Autopilot 84
- 6.3.3.6 Mooring control and monitoring systems 84
- 6.3.3.7 Automated radar plotting aids 84
- 6.3.3.8 Electronic chart display and information systems 84
- 6.3.3.9 Communications systems 84
- 6.3.3.10 Voyage data recorders 84
- 6.3.3.11 Decision support systems 85
6.3.4 VESSEL TRAFFIC MANAGEMENT SYSTEMS 85
6.3.5 AUTONOMOUS MARINE VESSELS 85
6.3.6 INTEGRATED SHIP AUTOMATION SYSTEMS 85
6.4 IMPACT OF MEGATRENDS 86
6.4.1 CLOUD-BASED SOLUTIONS 86
6.4.2 SATELLITE COMMUNICATIONS 86
7 CONNECTED SHIP MARKET, BY APPLICATION 87
7.1 INTRODUCTION 88
7.2 VESSEL TRAFFIC MANAGEMENT 89
7.2.1 EMPHASIS ON SAFETY AND EFFICIENCY OF VESSELS TO DRIVE GROWTH 89
7.3 FLEET OPERATION 89
7.3.1 NEED FOR REAL-TIME SITUATIONAL AWARENESS TO DRIVE GROWTH 89
7.4 FLEET HEALTH MONITORING 89
7.4.1 DEMAND FOR REMOTE ENGINE MONITORING SYSTEMS TO DRIVE GROWTH 89
7.5 OTHER APPLICATIONS 90
7.5.1 PASSENGER INTERACTION 90
7.5.2 CARGO TRACKING 90
8 CONNECTED SHIP MARKET, BY INSTALLATION 91
8.1 INTRODUCTION 92
8.2 ONBOARD 93
8.2.1 INCREASED ADOPTION OF AUTOMATION SYSTEMS IN NAVAL AND CARGO VESSELS TO DRIVE GROWTH 93
8.2.2 NAVIGATION POSITIONING AND TRACKING 94
- 8.2.2.1 Navigation systems 94
8.2.3 SHIP INFORMATION MANAGEMENT SYSTEMS 94
- 8.2.3.1 Voyage data recorders 95
- 8.2.3.2 Data processors 95
8.2.4 COMMUNICATIONS MANAGEMENT SYSTEMS 95
- 8.2.4.1 Very small aperture terminals 95
- 8.2.4.2 Mobile satellite systems 95
8.2.5 AUTOMATION 95
- 8.2.5.1 Surveillance and safety systems 96
- 8.2.5.2 Power management systems 96
- 8.2.5.3 Propulsion control systems 96
- 8.2.5.4 Machinery management systems 96
- 8.2.5.5 Alarm management systems 96
- 8.2.5.6 Ballast management systems 96
- 8.2.5.7 Thruster control systems 96
8.2.6 INTER-SHIP COMMUNICATIONS SYSTEMS 97
8.2.7 INTEGRATED BRIDGE SYSTEMS 97
8.3 ONSHORE 97
8.3.1 WIDESPREAD USE OF ARTIFICIAL INTELLIGENCE AND DATA ANALYTICS IN MARITIME INDUSTRY TO DRIVE GROWTH 97
8.3.2 SERVERS 97
8.3.3 SHIP DATA ANALYSIS AND MANAGEMENT 97
- 8.3.3.1 Software 98
- 8.3.3.1.1 Fleet management software 98
- 8.3.3.1.2 Data analysis software 98
- 8.3.3.2 Services 98
- 8.3.3.2.1 Health monitoring services 98
- 8.3.3.2.2 Navigation assistance services 98
- 8.3.3.1 Software 98
9 CONNECTED SHIP MARKET, BY PLATFORM 99
9.1 INTRODUCTION 100
9.2 SHIPS 101
9.2.1 DEMAND FOR ADVANCED SHIP HEALTH MONITORING SYSTEMS AND AUTOMATION SYSTEMS TO DRIVE GROWTH 101
9.2.2 COMMERCIAL 102
- 9.2.2.1 Passenger ships 103
- 9.2.2.2 Cargo ships 103
- 9.2.2.3 Other ships 105
- 9.2.2.3.1 Specialized ships 105
- 9.2.2.3.2 Offshore ships 105
9.2.3 DEFENSE 105
- 9.2.3.1 Aircraft carriers 106
- 9.2.3.2 Corvettes 106
- 9.2.3.3 Frigates 107
- 9.2.3.4 Submarines 107
- 9.2.3.5 Destroyers 107
- 9.2.3.6 Amphibious ships 107
9.3 PORTS 107
9.3.1 TRADE AND TRANSPORTATION APPLICATIONS TO DRIVE GROWTH 107
9.3.2 GREENFIELD PORTS 109
9.3.3 BROWNFIELD PORTS 109
10 CONNECTED SHIP MARKET, BY FIT 110
10.1 INTRODUCTION 111
10.2 LINE FIT 112
10.2.1 RISE IN NEW SHIP DELIVERIES TO DRIVE GROWTH 112
10.3 RETROFIT 112
10.3.1 ACTIVE REPLACEMENT OF OLD CONNECTED SYSTEMS TO DRIVE GROWTH 112
10.4 HYBRID FIT 112
10.4.1 RAPID INTEGRATION OF ADVANCED SYSTEMS IN CONNECTED SHIPS TO DRIVE GROWTH 112
11 CONNECTED SHIP MARKET, BY REGION 113
11.1 INTRODUCTION 114
11.2 NORTH AMERICA 115
11.2.1 PESTLE ANALYSIS 115
11.2.2 RECESSION IMPACT ANALYSIS 116
11.2.3 US 120
- 11.2.3.1 Rise in naval shipbuilding to drive growth 120
11.2.4 CANADA 122
- 11.2.4.1 Emphasis on developing indigenous marine industry to drive growth 122
11.3 EUROPE 124
11.3.1 PESTLE ANALYSIS 124
11.3.2 RECESSION IMPACT ANALYSIS 125
11.3.3 GERMANY 129
- 11.3.3.1 Predominance of maritime industry to drive growth 129
11.3.4 ITALY 131
- 11.3.4.1 Retrofitting of connected ship technologies in vessels to drive growth 131
11.3.5 UK 133
- 11.3.5.1 Increased investments in marine systems to drive growth 133
11.3.6 RUSSIA 135
- 11.3.6.1 Procurement of new naval warships and submarines to drive growth 135
11.3.7 FRANCE 136
- 11.3.7.1 High demand for advanced autonomous systems to drive growth 136
11.3.8 REST OF EUROPE 138
11.4 ASIA PACIFIC 140
11.4.1 PESTLE ANALYSIS 140
11.4.2 RECESSION IMPACT ANALYSIS 141
11.4.3 CHINA 146
- 11.4.3.1 Expanding domestic ship production to drive growth 146
11.4.4 SOUTH KOREA 148
- 11.4.4.1 Increasing adoption of connected ship systems by domestic shipbuilders to drive growth 148
11.4.5 JAPAN 150
- 11.4.5.1 Government investments in maritime industry to drive growth 150
11.4.6 INDIA 151
- 11.4.6.1 Rapid development of naval ship components to drive growth 151
11.4.7 AUSTRALIA 153
- 11.4.7.1 Rising demand for maritime safety to drive growth 153
11.4.8 REST OF ASIA PACIFIC 155
11.5 REST OF THE WORLD 157
11.5.1 PESTLE ANALYSIS 157
11.5.2 RECESSION IMPACT ANALYSIS 158
11.5.3 MIDDLE EAST & AFRICA 162
- 11.5.3.1 National shipbuilding companies to drive growth 162
11.5.4 LATIN AMERICA 164
- 11.5.4.1 Development of smart ports to drive growth 164
12 COMPETITIVE LANDSCAPE 167
12.1 INTRODUCTION 167
12.2 MARKET SHARE ANALYSIS, 2022 167
12.3 RANKING ANALYSIS, 2022 169
12.4 REVENUE ANALYSIS, 2022 170
12.5 STRATEGIES ADOPTED BY KEY PLAYERS 171
12.6 COMPANY EVALUATION MATRIX 172
12.6.1 STARS 172
12.6.2 EMERGING LEADERS 172
12.6.3 PERVASIVE PLAYERS 172
12.6.4 PARTICIPANTS 172
12.7 COMPETITIVE BENCHMARKING 174
12.8 START-UP/SME EVALUATION MATRIX 176
12.8.1 PROGRESSIVE COMPANIES 176
12.8.2 RESPONSIVE COMPANIES 176
12.8.3 STARTING BLOCKS 176
12.8.4 DYNAMIC COMPANIES 176
12.9 COMPETITIVE SCENARIO 177
12.9.1 MARKET EVALUATION FRAMEWORK 177
12.9.2 PRODUCT LAUNCHES 178
12.9.3 DEALS 182
13 COMPANY PROFILES 186
13.1 KEY PLAYERS 186
13.1.1 ABB 187
13.1.2 EMERSON ELECTRIC CO 191
13.1.3 KONGSBERG GRUPPEN ASA 194
13.1.4 WARTSILA 197
13.1.5 THALES GROUP 200
13.1.6 GENERAL ELECTRIC 204
13.1.7 NORTHROP GRUMMAN CORPORATION 206
13.1.8 L3HARRIS TECHNOLOGIES, INC 209
13.1.9 HYUNDAI HEAVY INDUSTRIES 211
13.1.10 JASON MARINE GROUP 213
13.1.11 MARLINK 215
13.1.12 RH MARINE 217
13.1.13 ROCKWELL AUTOMATION 219
13.1.14 SCHNEIDER ELECTRIC 221
13.1.15 SIEMENS 223
13.1.16 ULSTEIN 225
13.1.17 VALMET 227
13.1.18 SAAB AB 229
13.1.19 ST ENGINEERING 231
13.1.20 HUNTINGTON INGALLS INDUSTRIES 233
13.1.21 HANWHA SYSTEMS 236
13.1.22 FURUNO ELECTRIC CO. LTD 238
13.1.23 ROLLS ROYCE PLC 240
13.1.24 GARMIN INTERNATIONAL 242
13.2 OTHER PLAYERS 244
13.2.1 IRIDIUM 244
13.2.2 INMARSAT 244
13.2.3 INTELSAT 245
14 APPENDIX 246
14.1 INTRODUCTION 246
14.2 DISCUSSION GUIDE 246
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 250
14.4 CUSTOMIZATION OPTIONS 252
14.5 RELATED REPORTS 252
14.6 AUTHOR DETAILS 253