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2020 Integrated Platform Management System Market Growth Prospectus with 5.8% of CAGR by 2027

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“Integrated Platform Management System Market Regional Analysis”
Integrated Platform Management System 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. The growing focus on anti-submarine warfare and defense budgets and expenditures are the major factors expected to support the growth of the integrated platform management system market. The stagnant focus on the development of robust vessel control solutions and integrating integrated platform management systems with combat management system is creating lucrative growth opportunities for the market players.

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