Integrated Bridge System for Ships Market Share

The global trade that happens around the world relies heavily on two main pillars – the international maritime transport industry and the shipbuilding industry. These two work hand in hand to facilitate the movement of goods across the globe. The international shipping industry takes care of the actual transportation of goods, while the shipbuilding industry manufactures the large vessels needed for this maritime transport.

To give you some numbers, in 2017, more than 80% of the world's merchandise trade in terms of volume and over 70% in terms of value was carried out by the international shipping industry, according to the United Nations Conference on Trade and Development (UNCTAD). However, there was a slight dip in global merchandise trade in 2019, with a 0.5% contraction in volume. This dip was largely influenced by increased tensions and tariffs in global trade, leading to a decrease in imports from developing countries, including major players like China and other emerging economies. The growth in the maritime transport industry also faced challenges in 2020 due to the unprecedented disruption caused by the COVID-19 pandemic. While the short-term outlook may seem challenging, the importance of maritime transport in keeping international supply chains functioning is expected to drive positive growth and contribute to the global supply chain's recovery.

On the other side of things, the shipbuilding industry is a dynamic sector that plays a crucial role in the growth of various other sectors like transport, energy, and security. As a key enabler for essential global economic sectors, including transport and energy, the shipping industry is experiencing rapid growth.

Now, with the increasing trend in international seaborne trade and shipbuilding activities, there's a growing need for efficient and safe ship management. This is where integrated bridge systems come into play. These systems are in demand because they provide comprehensive solutions for managing and navigating ships effectively and safely. The integrated bridge systems ensure that ships can operate smoothly and securely, meeting the demands of a constantly growing international seaborne trade and shipping industry.

In simpler terms, when goods need to be transported around the world, they rely on ships and the industry that builds those ships. Most of this shipping work is done by the international shipping industry, and the ships themselves are made by the shipbuilding industry. However, there have been some challenges recently due to trade tensions and the impact of the COVID-19 pandemic. Despite these challenges, the importance of shipping in keeping the world's supply chains working is expected to lead to positive growth. The industry that builds the ships is also growing rapidly, playing a crucial role in various sectors like transport and energy.

As international trade and shipbuilding activities continue to grow, the need for effective ship management becomes more critical. This is where integrated bridge systems come into play. These systems are in demand because they offer solutions for managing and navigating ships efficiently and safely. They ensure that ships can operate smoothly and securely, meeting the demands of the ever-expanding international trade and shipping industry.