Market Share of Marine Simulators Industry
The marine simulators market is semi-consolidated and dominated by players such as Wärtsila Corporation, VSTEP BV, Kongsberg Gruppen ASA, Altair Engineering Inc., and BMT Group Ltd. Simulator manufacturers are required to build a brand and reach out to geographical extremes to get customers. Manufacturers may have the first-mover advantage if they can attract customers for the simulators for new vehicle platforms, as simulators tend to be reconfigured or upgraded to support newer variants, providing the players with continuous revenue inflow.
Mergers and acquisitions are expected to help the players by increasing their addressable market. For instance, in December 2022, VSTEP launched its newest maritime simulator, NAUTIS Home, to expand the accessibility of professional ship simulation. The company's goal is to increase the crucial role of simulation-based learning in maritime education and training.
Marine Simulators Market Leaders
-
Kongsberg Gruppen ASA
-
Altair Engineering Inc
-
Wärtsila Corporation
-
BMT Group Ltd
-
VSTEP B.V.
*Disclaimer: Major Players sorted in no particular order
