In terms of revenue, the global integrated platform management system market was valued at US$ 3,314.3 million in 2019 and is projected to reach US$ 5,234.3 million by 2027 and is expected to grow at a CAGR of 5.8% during the forecast period.
Companies such as Northrop Grumman Sperry Marine provide distributed machinery control systems (MCAS) for ferries, cruise ships, yachts, and defense vessels, such as offshore patrol vessels, coast guard, and fast patrol vessels. Integrated turn-key solutions, flexible modular design, quick response, and cost-effectiveness with advanced automation are some of the benefits of IPMS. The contracts to construct more submarines in economies such as the US and Singapore are emerging to ensure greater security in maritime operations.
Europe holds the second largest share after North America in the global integrated platform management system market. Owing to fact that countries, such as France, the UK, and Russia, have a huge number of submarines and frigates within their territory which will raise the number of installation of IPMS in mentioned naval vessels. Moreover, countries such as China, India, South Korea, and Singapore are looking ahead to procure new naval vessels armed with advanced capabilities in order to combat underwater threats while protecting the security of the country. Procurement of new naval vessels would help encourage the adoption of IPMS by Asian navies.
Impact of COVID-19 Pandemic on Integrated Platform Management System Market
The COVID-19 outbreak, which began in Wuhan (China) in December 2019, has spread at a fast pace worldwide. The global factory shutdowns, travel bans, and border lockdowns, to combat and contain the outbreak, have impacted every industry and economy worldwide. The majority of the manufacturing plants are either temporarily shut or operating with minimum staff; the supply chain of equipment and related components are disrupted. Additionally, the demand for defense equipment has been showcasing a slowdown due to Covid-19 outbreak.
Lucrative Regional Integrated Platform Management System Market
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Market Insights
Introduction of Government Mandates to Tackle IT Threats
The modern warfare has drastically changed over the years and is continuing to modernize year on year. The naval forces across the world are observing notable growth in submarine warfare, owing to which the demand for anti-submarine warfare is considerably rising. In order to successfully conduct anti-submarine warfare, adoption of maritime patrol aircraft (MPA) and patrol vessels capable of launching integrated platform management systems is growing substantially. The growth in newer orders for MPA and patrol vessels is generating demands for integrated platform management systems, which, in turn is propelling the growth of the integrated platform management systems market.
Global Integrated Platform Management System Market, by Application – 2019 and 2027
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Component-Based Insights
In terms of component, the hardware segment captured a dominating share of the global integrated platform management system market in 2019. The comprehensive use of hardware in integrated platform management system for critical mission ensures low lifecycle costs for the customers. Sensors, actuators, remote terminal units, and display devices are some of the hardware used in IPMS.
Naval Vessel-Based Insights
In terms of naval vessel, the submarines segment captured the largest share of the integrated platform management system market in 2019. The US, the UK, Russia, China, India, Japan, Canada, Colombia, and South Africa are among the prominent countries with a large number of submarines for underwater operations. Procurement of new submarines will further impact the installation of IPSM by different navies.
Application- Based Insights
In terms of application, the safety and damage control systems segment captured a dominating share of the global integrated platform management system market in 2019. Safety and damage control systems are the critical sub-systems that are built-in IPMS. Management of any naval vessel is accomplished with the help of a damage control system that gives early damage detection and coordination of the damage control actions.
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Integrated Platform Management System Market: Strategic Insights
Market Size Value in US$ 3,314.3 Million in 2019 Market Size Value by US$ 5,234.3 Million by 2027 Growth rate CAGR of 5.8% from 2021-2027 Forecast Period 2021-2027 Base Year 2021
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Integrated Platform Management System Market: Strategic Insights
| Market Size Value in | US$ 3,314.3 Million in 2019 |
| Market Size Value by | US$ 5,234.3 Million by 2027 |
| Growth rate | CAGR of 5.8% from 2021-2027 |
| Forecast Period | 2021-2027 |
| Base Year | 2021 |
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Companies in the integrated platform management system market are adopting different strategies including product development, acquisition, and other expansion related strategies to expand their footprint worldwide by meeting the growing demand for their offerings. A few of the recent initiatives in the integrated platform management system market are listed below:
2020: ECA GROUP offered the Lithuanian Navy with its K-STER mine disposal vehicles to be used for mine counter measures at sea.
2020: L3Harris Technologies launched the latest demonstration series of end-to-end small satellites as part of the US Air Force constellation the company is responsible for developing. As the prime contractor for the firm fixed-price development space mission, L3Harris is designing, developing, building, testing, and deploying the satellites.
2020: Larsen & Toubro Infotech has launched LTI Canvas, a software engineering platform that aims to address critical need of enabling work from anywhere. The software is an integrated platform that brings together various processes, tools, and methodologies to drive technology and business outcomes in an environment where teams are operating in a distributed environment, as per the company.
Market Segmentation
Integrated Platform Management System Market – By Component
- Hardware
- Sensors
- Actuators
- Remote Terminal Units
- Display Devices
- Others
- Software
Integrated Platform Management System Market – By Naval Vessel
- Frigates
- Aircraft Carriers
- Submarines
Integrated Platform Management System Market – By Application
- Propulsion Control
- Auxiliary Machinery Control
- Safety and Damage Control Systems
- Alarm and Event Monitoring
- On-Board Trainer
Integrated Platform Management System Market- By Region
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America
- Brazil
- Argentina
- Rest of SAM
Companies Profiled in Integrated Platform Management System Market are as Follows:
- C2C DB Systems
- ECA Group
- L3 MAPPS Inc.
- Larsen And Toubro Limited
- Logimatic
- Northrop Grumman Sperry Marine B.V.
- Marine Electricals
- Praxis Automation Technology BV
- Rolls-Royce PLC
- Seastema S.P.A..
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Naval Vessels ; Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The North America region led the integrated platform management systems market in 2019. Advanced technologies, which makes it a thoroughly competitive market for various companies. In the era of continuous developments, the need to ensure a country's security is becoming more essential. The introduction of advanced technologies for anti-warfare situations and underwater threats would support the countries mentioned above to achieve high-end security. Therefore, companies, such as Northrop Grumman Sperry Marine, have acquired over three decades in offering integrated platform management solutions. The company's IPMS is an advanced control system solution for aircraft carriers, frigates, and submarines. Integration of IPMS removes standalone third party control equipment lowering weight, cabling, and space.
The significant change in modern warfare has been urging the governments across the globe to allocate higher amounts towards respective military forces. The military budget allocation enables the military forces to engage themselves in the development of robust indigenous technologies, procuring advanced vehicles, and other equipment from national and international manufacturers. The emphasis towards naval forces have been on the rise among the governments across the globe in recent years. Pertaining to this, the focus towards modernizing and strengthening the naval forces with advanced technologies is growing and subsequently the budgets and expenditures are increasing year on year. The higher budget allocations is facilitating the naval forces to procure increased numbers of MPAs and patrol boats integrated with robust technologies such as integrated platform management systems. This factor is driving the integrated platform management systems.
The comprehensive use of hardware in integrated platform management system for critical mission ensures low lifecycle costs for the customers. IPMS is a distributed architecture real-time digital control system and an open architecture system consists of Remote Terminal Units (RTU) and multifunction control consoles. The RTUs are utilized for process level data acquisition and control, whereas the console offers human machine interface (HMI) for operators at several shipboard locations. The open system architecture facilitate the use of different data networks as per the customer requirements. Moreover, the benefit of open system architecture allows the interface of IPMS to other systems via serial links, fieldbus, and other interfaces.
The List of Companies - Weapon Mounts Market
- C2C DB Systems
- ECA Group
- L3HARRIES
- Larsen & Toubro Limited
- Logimatic
- Northrop Grumman Sperry Marine B.V
- Praxis Automation Technology B.V.
- Rolls-Royce Holdings plc
- Eustema S.p.A. (Fincantieri Company)
- Marine Electrical
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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