Marine Onboard Communication and Control Systems Market Size worth $12.3 Billion by 2028, at a CAGR of 7.3%

May 24 17:26 2024
Marine Onboard Communication and Control Systems Market Size worth $12.3 Billion by 2028, at a CAGR of 7.3%
Marine Onboard Communication and Control Systems Market
The global Marine Onboard Communication and Control Systems Market in terms of revenue was estimated to be worth $8.6 billion in 2023 and is poised to reach $12.3 billion by 2028, growing at a CAGR of 7.3% during the forecast period.

The report “Marine Onboard Communication and Control Systems Market Size by Type (Communication Systems, Control Systems), Platform (Commercial, Defense), End User (OEM, Aftermarket) and Region (North America, Europe, APAC, MEA, RoW) – Global Forecast to 2028” The 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. The Marine Onboard Communication and Control Systems market is driven by the increasing marine fleet of vessels due to the rise in seaborne trade and Marine tourism.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25117530

Browse 209 market data Tables and 70 Figures spread through 220 Pages and in-depth TOC on “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) – Global Forecast to 2028”

View detailed Table of Content here – https://www.marketsandmarkets.com/Market-Reports/marine-onboard-communication-control-systems-market-25117530.html

Marine Onboard Communication and Control Systems Market

The rise in the need for marine navigation and communication systems for efficient communication, safety, and data-driven operations and increasing demand for seamless connectivity drive the market growth for the marine communication market. The marine control systems market is driven by vessel modernization efforts; the need for enhanced efficiency and safety propels the adoption of various control systems for propulsion, navigation, and automation.

The Marine Onboard Communication and Control Systems market encompasses a type, platform, and end-user that leverages these benefits.

Based on the type, the control systems segment is estimated to have the highest CAGR during the forecast period.

Based on the type, the control systems segment is estimated to lead the Marine Onboard Communication and Control Systems market from 2023 to 2028. The marine control systems market is growing rapidly due to various factors including various environmental related government regulations for reducing emissions and improving safety. The integration of advanced technologies such as the integration of the Internet of Things (IoT) and digitalization in maritime applications boosts demand for marine control systems. The rise in the need to upgrade and modernize the marine fleet by retrofitting the existing vessels for advanced control systems to enhance operational efficiency drives market growth.

Based on the platform, the defense segment is estimated to have the highest CAGR during the forecast period.

Based on the platform, the defense segment is estimated to show the highest CAGR during the forecast period. The security concerns and evolving naval strategies drive the demand for various integrated systems that ensure secure communication, navigation, and mission-critical operations. Defense forces worldwide are investing significantly in advanced technologies, including integrated control systems, satellite communication, and real-time monitoring systems. For safe and secure marine navigation and communication the demand for marine navigation and communication systems also rises. To meet the regulatory compliance the navies are adopting various propulsion control systems, engine control and monitoring systems which drive the marine control systems market. The integration of AI and cyber-secure solutions further enhances naval fleet modernization. The rising need for specialized cyber-secured communication systems for various naval and other maritime missions drives the market growth.

Based on the end user, the OEM segment is estimated to have the highest CAGR during the forecast period.

The OEM end user segment in Marine Onboard Communication and Control Systems is estimated to show the highest growth rate during the forecast period. OEMs play a prominent role in providing marine vessels with cutting-edge communication and control systems during the manufacturing process. The global maritime industries are focusing on digitalization and automation in which the OEMs are at the forefront of integrating smart technologies, satellite communication, and advanced control modules. The market growth is driven by the OEMs’ ability to offer comprehensive and tailor-made solutions for enhanced vessel performance, and safety, and to meet regulatory compliance and evolving requirements of shipbuilders and operators worldwide.

Based on regions, the Asia Pacific market is estimated to have the highest CAGR during the forecast period.

Based on region the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The Asia Pacific is a key region in global shipping. The Asia Pacific market is propelled by the expansion in maritime activities and economic development. The increase in trade and naval modernization initiatives are rising demand for advanced communication and control technologies across commercial and defense sectors in the region.

Key Players

The Marine Onboard Communication and Control Systems market is dominated by a few globally established players such as Emerson Electric Co. (US), Wartsila (Finland), Kongsberg (Norway), ABB (Switzerland), and Northrop Grumman Corporation (US).

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/marine-onboard-communication-control-systems-market-25117530.html