Integrated Platform Management System Market Forecast (2024-2031)
The integrated platform management system market size is projected to reach US$ 4.81 billion by 2031 from US$ 3.01 billion in 2023. The market is expected to register a CAGR of 6.0% during 2023–2031. Growing integration with combat management system is expected to drive the market is likely to remain a key trend in the market.
Integrated Platform Management System Market Analysis
The naval forces across the globe are emphasizing anti-submarine warfare owing to rise in underwater threats. The usage of unmanned underwater vehicles (UUVs) are surging; however, integrated platform management systems are much more efficient in detecting and locating enemy submarines. The integrated platform management systems also have the benefit to be launched from maritime patrol vessels, which reduces the risk of collateral damage. Pertaining to these factors, the demand for integrated platform management systems are increase, and in order to increase the strength of respective navy’s maritime patrolling wing with enhanced capabilities, the naval forces are procuring higher volumes of MPA fitted with integrated platform management systems. Growing demand for integrated platform management systems with limited number of players operating in the integrated platform management systems market is showcasing higher bargaining power of buyers (vessels manufacturer) in the current scenario. Nevertheless, the demand for the same is anticipated to drop to moderate level in the future with the rise in number of integrated platform management systems market players.
Integrated Platform Management System Market Overview
The competition among the integrated platform management systems market is high owing to the fact that the products offered by the manufacturer are similar in technology. Additionally, the presence of well-established players such as L3Harris Technologies Inc., ECA group, Boeing, and Northrop Grumman Sperry Marine B.V. acquire majority of the contracts from the vessels and patrol boat manufacturers to supply integrated platform management systems. These players compete among each other on various parameters such as product type, lead/delivery time, after-sales services, and number of dispensing slots, among others. Thus, the competitive rivalry is expected to be remain high throughout the forecast period in the integrated platform management systems market.
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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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Integrated Platform Management System Market Drivers and Opportunities
Increasing Focus on the Deployment of Anti-Submarine Warfare Systems
The rising deployment of naval vessels such as frigates, corvettes, submarines, patrol vessels, and other boats/vessels is one of the major factors generating the demand for deployment of anti-submarine warfare systems across different regions. Further, this is also backed up by the high growth in naval warfare systems across different regions worldwide. Moreover, the rising tension among different countries is also pushing the government of several countries to invest large amount of funds into the procurement of anti-submarine warfare systems for different military forces. For instance:
- Damen Naval has commissioned RENK to supply eight gear units for the new Anti-Submarine Warfare (ASW) frigates. The Dutch yard is building four new frigates, two for the Royal Netherlands Navy and two for the Belgian Navy. (RENK, Press Release, Apr 2024)
- Kongsberg Maritime (KONGSBERG) will supply four shipsets of its controllable pitch propeller systems and associated equipment, including shaftlines. It is the second collaboration between Damen Naval and Kongsberg Maritime in the past 18 months. (KONGSBERG, Press Release, Apr 2024)
- Modus Operandi, a company that delivers Big Data analytics solutions for national security and commercial organizations, has been awarded a $1.5 million contract to develop an Anti-Submarine Warfare (ASW) system for the U.S. Navy. (Modus Operandi, Press Release, 2023)
Such factors are pushing the demand for integrated platform management systems market across different regions.
Continuous Focus on Development of Robust Vessel Control Solutions
The military forces are continuously seeking advanced solutions for naval vessels. Among the leading technologies or systems, the military troops are eyeing, integrated platform management systems are one of the crucial systems. This majorly pertains to the demand for modernizing the forces with robust weaponry and other systems. Pertaining to this, several military forces are compelling the technology, or system developers, including integrated platform management systems developers, to innovate and develop robust control solutions. This factor is foreseen to create lucrative opportunities in integrated platform management systems market in the coming years.
Integrated Platform Management System Market Report Segmentation Analysis
Key segments that contributed to the derivation of the integrated platform management system market analysis are component, naval vessels, and application.
- Based on component, the integrated platform management system market is segmented into hardware and software. The hardware segment held a larger market share in 2023. Further the hardware segment has been sub-segmented into sensors, actuators, remote terminal units, display devices, and others.
- Based on naval vessels, the integrated platform management system market is segmented into frigates, aircraft carriers, and submarines. The submarines segment held a larger market share in 2023.
- Based on application, the integrated platform management system market is segmented into propulsion control, auxiliary machinery control, safety & damage control systems, alarm & event monitoring, and on-board trainer. The safety & damage control systems segment held a larger market share in 2023.
Integrated Platform Management System Market Share Analysis by Geography
The geographic scope of the integrated platform management system market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the market in 2023 followed by Europe and Asia Pacific regions. Further, Asia Pacific is likely to witness highest CAGR in the coming years. The US accounted for the largest market share in North America integrated platform management system market in 2023. The country holds strong number of submarines and aircraft carriers which its territory which is expected to boost the deployment of IPMS in naval vessels. The US Navy has a maritime superpower as it has heavily armed warship that helps in managing sea control and maritime security. In addition, the country also witnessed projects related to submarine that will also impact the scope of integrated platform managemet systems. Further, the large pipelines of the US armed forces for the procurement of naval platforms is another major factor likely to generate new opportunities for integrated platform management system market vendors in the coming years.
Integrated Platform Management System Market Report Scope
Integrated Platform Management System Market News and Recent Developments
The integrated platform management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the integrated platform management system market are listed below:
- Damen Naval has signed a contract with RH Marine as the first Dutch supplier for the new Anti-Submarine Warfare (ASW) Frigates. RH Marine will supply the Integrated Mission Management System (IMMS), the Integrated Navigation Bridge System (INBS) and the Integrated Platform Management System (IPMS) for each of the four frigates for the Dutch and Belgian navies. The announcement of the cooperation follows the official contract signing on 29 June between the Dutch Ministry of Defence and Damen for the design, construction, and delivery of the new frigates. (Source: Damen Naval, Press Release, Jun 2023)
- Northrop Grumman Corporation (NYSE: NOC) in the UK (NGUK) has been awarded a contract for in-service support of the Astute Class Submarine Platform Management System (PMS) by the Submarine Delivery Agency (SDA), an executive agency of the Ministry of Defence. (Source: Northrop Grumman Corporation, Press Release, Mar 2022)
Integrated Platform Management System Market Report Coverage and Deliverables
The “Integrated Platform Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Integrated platform management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Integrated platform management system market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed porter’s five forces analysis
- Integrated platform management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the integrated platform management system market
- Detailed company profiles
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
North America region dominated the integrated platform management system market in 2023.
Focus on anti-submarine warfare (ASW) is stimulating the growth and the increasing global military expenditure are some of the factors driving the growth for integrated platform management system market.
Integration with combat management system is one of the major trends of the market.
C2C DB Systems, ECA Group, L3Harris Technologies Inc, Larsen & Toubro Limited, Logimatic, Northrop Grumman Corporation, Marine Electricals, Praxis Automation Technology BV, Rolls-Royce PLC, and Seastema SpA are some of the key players profiled under the report.
The estimated value of the integrated platform management system market by 2031 would be around US$ 4.81 billion.
The integrated platform management system market is likely to register of 6.0% during 2023-2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
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.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 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.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- 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.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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