Helideck Monitoring System Market to offer a healthy CAGR of 6.2% during 2020-25
February 07, 2020
Helideck Monitoring System Market Overview:
Helideck Monitoring System Market is likely to witness an impressive CAGR of 6.2% during the forecast period. The escalating number of commercial vessels and ships globally and the surge in global vessel traffic and short replacement cycles of hardware components are the major factors underpinning the demand for the helideck monitoring systems during the forecast period.
Report Overview:
This new report from Stratview Research analyses the Helideck Monitoring System Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Helideck Monitoring System Market Segment Insights:
Commercial Application: The growth engine
Based on the application type, the market is segmented as commercial and defense. The commercial segment is estimated to register a higher CAGR during the forecast period. The growth can be attributed to the increase in vessel traffic, majorly in regions such as North America and Asia-Pacific, which has immensely contributed to the surge in demand for helideck monitoring systems in the commercial segment.
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https://www.stratviewresearch.com/toc/772/helideck-monitoring-system-market.html
Dominance of: Marine and Hardware
Based on the vertical type, the market is segmented as oil & gas and marine. The marine segment is estimated to command the market in the coming five years, driven by the increasing maritime vessel traffic and growing trade via sea routes.
Based on the system type, the market is segmented as hardware and software. The hardware segment is expected to witness a higher growth during the forecast period. The key factor driving the demand for helideck monitoring systems is the early replacement of hardware components, such as motion sensors.
A highly/moderately/fragment consolidated Market
Some of the major players in the helideck monitoring system market are ABB Group, ASB Systems, AWA Marine, Automasjon og Data AS, Fugro N.V., Kongsberg Gruppen, Monitor Systems, Observator Group, RH Marine, and ShoreConnection International AS.
Regional Hegemony of Asia-Pacific & the dominance of Aftermarket
In terms of regions, the Asia-Pacific region accounted for the largest share of the helideck monitoring system market in 2018, and is expected to register the highest growth during the forecast period owing to the surge in vessel passenger traffic and military vessel induction in countries such as India, China, and Russia. The market is driven by the countries, such as Argentina, Brazil, Saudi Arabia, and the UAE, which are increasing their defense and commercial marine fleets. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Based on the end-user type, the market is segmented as OEM and aftermarket. The aftermarket segment is estimated to depict a higher growth during the forecast period. The market is driven by the increase in demand for helideck monitoring systems owing to the short replacement cycle of components, such as motion sensors and rise in vessel traffic, especially in regions such as North America and Asia-Pacific.
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