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Growing Defense Budgets and Expenditures is Boosting the Demand will lead the Integrated Platform Management System market growth during 2020-2027
Integrated Platform Management System Market 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.
The integrated platform management system (IPMS) is a complex control system solution developed for various types of naval vessels, including aircraft carriers, submarines, and frigates. The solution consists of electrical, damage control, propulsion, auxiliary, and HVAC systems integrated in a single solution. Integrating the system into aforesaid naval vessels removes standalone third party control equipment lowering cabling, weight, and space while offering better supportability.
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