DUBLIN–(BUSINESS WIRE)–The “Global Marine Onboard Communication and Control Systems Market by Type (Communication Systems, Control Systems), Platform (Commercial, Defense), End User (OEM, Aftermarket) and Region (North America, Europe, APAC, MEA, RoW) – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global Marine Onboard Communication and Control Systems market is valued at USD 8.6 billion in 2023 and is projected to reach USD 12.3 billion by 2028, at a CAGR of 7.3% from 2023 to 2028
This market study covers the Marine Onboard Communication and Control Systems market across various segments and subsegments. It aims to estimate this market’s size and growth potential across different parts based on type, platform, end user, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Over the last few years, the Marine Onboard Communication and Control Systems industry has continued to evolve with expanding use cases, better cost efficiencies, and a more significant impact of new technological developments in the maritime industry. The Marine Onboard Communication and Control Systems market is experiencing growth driven by increasing seaborne trade and an increase in marine fleet size. Increased demand for connectivity and automation in maritime vessels for enhanced safety, efficiency, and better user experience is driving the marine onboard communication and control systems market.
Major companies profiled in the report include Emerson Electric Co. (US), Wartsila (Finland), Kongsberg (Norway), ABB (Switzerland), and Northrop Grumman Corporation (US), among others.
Based on type, the Communication Systems segment is estimated to have the largest market share in 2023
The Communication Systems segment in the Marine Onboard Communication and Control Systems market is being driven by due to rising maritime traffic and the need for efficient communication at sea. The rise in need for marine onboard communication systems is driven due to enhanced safety, navigation, and operational efficiency. Integration of advanced technologies, such as satellite communication and IoT, accelerates growth in marine onboard communication systems.
Based on platform, the Commercial is estimated to have the largest market share in 2023
The Commercial segment within the Marine Onboard Communication and Control Systems market is being driven by a rise in seaborne trade. The Commercial segment involves the deployment of advanced control and communication technologies on commercial ships and boats to enhance safety, navigation, and operational efficiency. The commercial segment includes passenger vessels, cargo vessels, and other ships.
Based on End User, the OEM is estimated to have the largest market share in 2023
The End User segment in the marine onboard communication and control systems market is being driven by the OEM segment. Original equipment manufacturers (OEMs) for the marine control and communication systems design, manufacture, and supply the original hardware and software components used in marine vessels.
These OEMs play a crucial role in providing the essential systems that contribute to the safe and efficient operation of maritime assets. The OEMs offer high-quality standards for their products through rigorous testing, quality control measures, and adherence to industry standards, which results in the growth of OEMs.
Based on regions, the Asia Pacific region is estimated to have the largest market share in 2023
The Asia Pacific region is witnessing robust growth in the Marine Onboard Communication and Control Systems market, driven by the presence of various shipbuilding companies. The region’s thriving economies are generated by the increasing seaborne trade.
Governments in the region are making substantial investments in advanced technological-based marine navigation and communication systems for enhanced safety and operational efficiency. Additionally, the presence of a rapidly expanding commercial marine sector, particularly in countries like India, Japan, and China, is intensifying competition and driving innovation, contributing to market expansion.
The report provides insights on the following pointers:
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 222 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $8.6 Billion |
| Forecasted Market Value (USD) by 2028 | $12.3 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/l1p469
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