The global helideck monitoring system market size was valued at USD 187.5 million in 2017. Increasing maritime trade and vessel traffic is expected to drive the market over the projected period. Growing importance of maritime transport for trade and development will also spur adoption of these system in near future.
Helideck monitoring system market size, by application, 2015 - 2025 (USD Million)
Government initiatives and increased spending on shipbuilding are expected to create potential growth opportunity for many manufacturers. For instance, in July 2017, Japan and European Union (EU) signed an Economic Partnership Agreement to support trade flows. On similar lines, Canada, EU, and its member states entered the Comprehensive Economic and Trade Agreement which is expected to promote container shipping. Such activities are anticipated to boost market expansion over the forecast period.
However, digitization of maritime sector raises concerns related to cybersecurity. Ships rely on systems such as Industrial Information System (IIS) for many of essential processes such as nautical security, steering, navigation, energy production, communication, and propulsion. Helideck monitoring systems and components, whether embedded or not, are prone to cyber-attacks leading to unwanted consequences.
Segmentation by System
In 2017, hardware system accounted for more than four-fifth of the overall helideck monitoring system. Increasing installations of bulk carriers, tanker containers, military vessels, and offshore oil rigs is expected to boost growth over the forecast period. Types of hardware used in these systems include sensors, lightning detection, helideck motion, data display unit, and radar server. Wind speed and direction, barometric pressure measurements, horizontal visibility, air temperature, and cloud height and coverage are the major types of sensors. Replacement of sensors at regular interval is also anticipated to present considerable growth opportunity to the market.
Reliable information on weather and helideck motion is required during pre-flight planning and during flight for complete safety. Growing adoption of helideck monitoring system software in marine and offshore industry is expected to boost the market over the projected period. Combination of meteorological data with motion and ocean to collect all the information in one system makes them suitable for marine and offshore applications.
Segmentation by Application
In 2017, commercial segment dominated the market for helideck monitoring systems. Real-time weather information and successful helicopter operations in offshore is expected to increase adoption for commercial applications. It is also expected to be the fastest growing segment on account of increased off shore oil and gas production and vessel traffic.
In 2017, defense accounted for more than 15% of the market. Real-time information on barometric pressure, air temperature, wind speed and direction, dew point, relative humidity, horizontal visibility, motion, and cloud height and coverage plays important role in defense applications. Helicopter traffic control, subsea operations, offshore loading, and crane operations are expected to further boost adoption in near future.
Segmentation by Region
• North America
• Asia Pacific
• Rest of the World
North America accounted for around one-tenth of the market in 2017. Increased vessel traffic coupled with rising shipping accidents has promoted adoption of meteorological sensors and helideck monitoring systems in North America. European maritime industry also includes recreational craft and shipbuilding. These markets benefit from European support for trade and environment. Shipbuilding sector includes military and commercial vessels. Increased oil and gas production and marine trades will also add to regional market growth.
Growing investment in development of inland waterways to promote interconnected mode of transport is expected to create demand from Asia Pacific. Implementation of navigation surveillance systems, cloud computing, Internet of Things (IoT), and e-navigation is expected to increase vehicle traffic in countries such as China and Japan. This factor is projected to further boost regional growth opportunities over the forecast period.
Global helideck monitoring system market is highly fragmented in nature. Investment in shipbuilding and increase in offshore oil and gas exploration projects is expected to create positive opportunity for helideck monitoring companies over the forecast period. In addition, stringent maritime safety norms and increasing navy budgets worldwide will keep the market buoyant in the forthcoming years. Some of the key players include ABB, RH Marine, Kongsberg Gruppen, Fugro N.V., Vaisala, Miros AS, ASB Systems Private Limited, Observator Instruments, ShoreConnection International AS, RigStat LP, and Monitor Systems Scotland Ltd.
Research Support Specialist, USA