Jan 22, 2019   SOURCE: BusinessWire

Global Integrated Marine Automation System Market Forecast to 2026 by Component, Ship Type, Solution and End-user - ResearchAndMarkets.com

The "Integrated Marine Automation System - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.

According to this report, the Global Integrated Marine Automation System market accounted for $3.38 billion in 2017 and is expected to reach $4.68 billion by 2026 growing at a CAGR of 3.7% during the forecast period.

Some of the key factors driving the market growth include high growth in emerging economies, growing compliance focus towards maritime safety norms, rising seaborne trade, growing global seaborne trade, and growing maritime tourism. However, factors such as digitalization to render ships vulnerable to cyber threats and a shortage of qualified specialists in the marine industry are hampering the market growth.

On the basis of ship type, the commercial ships segment is projected to grow at the steady rate during the forecast period due to rising seaborne trade in demand for automation systems in commercial ships or vessels.

By Geography, Europe is projected to grow at a significant rate during the forecast period. The growth for this region is due to growing number of cruise ships and autonomous ship constantly enlarging their operation across the diverse part of Europe. Further, cumulative importance on R&D activities by marine automation system product constructors is also acting as a major reason in the growth for the market in Europe.

Components Covered:

  • Product
  • Services

Ship Types Covered:

  • Defence
  • Commercial Ships

Solutions Covered:

  • Process Control
  • Vessel Management System
  • Safety System
  • Power Distribution Management

End-Users Covered:

  • Aftermarket
  • Original Equipment Manufacturer (OEM)

Companies Profiled:

  • Thales Group
  • Siemens
  • ABB
  • Kongsberg Gruppen ASA
  • Honeywell International Inc.
  • Northrop Grumman
  • Wartsila Corporation
  • Tokyo Keiki Inc.
  • Praxis Automation Technology
  • Transas
  • Consilium AB
  • Marine Technologies
  • API Marine Inc.
  • MTU Friedrichshafen

For more information about this report visit https://www.researchandmarkets.com/research/644pqk/global_integrated?w=4