Integrated Marine Automation System Market Set to Reach $7.8 Billion by 2025

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Integrated Marine Automation System Market Set
to Reach 7.8 Billion by 2025

• The Integrated Marine Automation System Market is
  poised for significant growth in the coming
  years, driven by a combination of factors and
  trends that shape the marine industry. According
  to a report by MarketsandMarkets, this market is
  expected to expand from USD 4.9 billion in 2020
  to USD 7.8 billion by 2025, demonstrating a
  Compound Annual Growth Rate (CAGR) of 10.0
  during the forecast period.
• Key Market Players
• Notable players in the integrated marine
  automation system market include ABB
  (Switzerland), Honeywell International, Inc.
  (US), Rolls-

(UK), and
Wartsila Kongsberg
Royce PLC (Finland), (Norway),
have established themselves as
which
industry leaders with strong brands, extensive
product portfolios, and efficient distribution
networks. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id156354645 Key factors contributing to this
growth include Increasing Global Sea Trade The
global maritime industry is experiencing a surge
in sea trade activities. As international trade
continues to grow, there is a growing demand for
more efficient and safer marine automation
systems to manage the increased shipping
traffic. Enhanced Navigational Safety Advanced
marine automation systems are playing a crucial
role in improving navigational safety, resulting
in fewer accidents at sea. This enhanced safety
is attracting both commercial and defense sectors
to invest in integrated marine automation
solutions. Growing Maritime Tourism The rising
popularity of maritime tourism is creating
opportunities for the marine automation industry.
Cruise liners and other passenger vessels are
increasingly integrating advanced systems to
provide a safer and more enjoyable experience
for travellers. Demand for New and Retrofit
Ships As a response to the increased trade
activities, the demand for new ships with
cutting-edge automation systems is on the rise.
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Additionally, the retrofitting of existing ships
with advanced technologies is gaining traction,
further fueling the market's growth. Market
Segmentation Autonomy The remotely-operated
segment is expected to lead the integrated marine
automation system market during the forecast
period, thanks to investments in unmanned and
remotely-controlled vessel operations. Ship Type
The defense segment is projected to dominate the
market due to increased investments in naval
defense, while the commercial segment benefits
from rising seaborne trade and tourism. End
User The OEM segment is expected to account for
the largest market share and is projected to
grow at a higher CAGR compared to the aftermarket
segment, reflecting increased investments in
naval defense and seaborne trade. Geographical
Growth Europe is anticipated to be the
fastest-growing region for the integrated marine
automation system market. The region has a
well-developed market for offshore vessels, with
significant growth expected in the shipbuilding
industry. Increased investments in the defense
sector and restructuring efforts by ship
manufacturing companies are driving the market in
Europe. Ask for Sample Report _at_ https//www.market
sandmarkets.com/requestsampleNew.asp?id156354645
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