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The Seychelles Tourism Board to host the first Digital Marketing Fair in Seychelles

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The Seychelles Tourism Board (STB) Digital Marketing team once again brings in its ‘avant-garde’ touch to the industry as  it instigates the first ever Digital Fair for tourism Stakeholders.

The fair, which will be held on Tuesday March 26, 2019 at Eden Blue on Mahé and Thursday March 28, 2019 at Pirogue Restaurant & Bar on Praslin targets at creating a platform for local service providers to interact with their clients.

The first digital marketing fair will be an opportunity given to all to meet various exhibitors in a central location to discuss about the available digital services and experience new digital trends available on the local market.

The fair will also provide the local tourism trade representatives attending with the opportunity to meet the STB digital marketing experts for further interaction regarding how to maximise on digital resources to enhance their business growth opportunities.

The exhibitors include representatives from Intelvision, Hoffman Business Consultancy, Com & Click, CTF Consultancy, Kokonet, Maven, Hotel Link Solutions, VCS Group, K-Radio, Vision 360, Rockit, Multimedia Seychelles, Airtel, Sales & Marketing Seychelles Pty Ltd.

Speaking of the importance of the fair, STB Digital Marketing Director Chris Matombe mentions the necessity to facilitate interaction between stakeholders and digital service providers.

“The aim of this digital fair is for us to have a stronger collective digital presence. Through our interaction with various small partners in the industry, we have noted that there is a lack of communication between the local tourism trade and the digital service providers. Our objective as an organisation is to bridge the gap and open doors for our stakeholders to increase their online presence,” Said Mr. Matombe.

STB Chief Executive Mrs. Sherin Francis mentioned her satisfaction to see the fair being concretised; she commended the team for their efforts and expressed her desire to see more exhibitors join the project in the future.

“Our aim as the STB is to continuously raise the standards when it comes to the quality of service we provide. The fair is a perfect opportunity for all our partners to find a way to better their services. It adds to our marketing value as a destination and creates more visibility for their products and services and Seychelles as a whole,” said Mrs. Francis.

The digital marketing fair will be opened from 10.00 am to 5.00 pm on Mahé and Praslin, the public is invited to visit the various stands to see the various products and services on display.

Travel News | eTurboNews

Accor welcomes 21c Museum Hotels into MGallery Hotel Collection

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Accor today announced that the Group has officially welcomed 21c Museum Hotels into the MGallery Hotel Collection, a global network of more than 100 storied boutique hotels located in 26 countries. The announcement marks the arrival of the MGallery brand into North America.

Bearing both the MGallery and 21c brands, 21c Museum Hotels – MGallery represents a shared commitment to inspiring guests to delight in and fully discover the very best the world has to offer. 21c Museum Hotels – MGallery will maintain 21c’s distinctive spirit and pioneering vision of combined contemporary art museum, boutique hotels and chef-driven restaurants, and preserve the singular personality, style and story of each individual property. 21c will be fully integrated into the MGallery collection, bringing to life the passion for rich experiences and local discovery for which MGallery is known.

“MGallery was first created in 2008 to share a new vision of high-end, boutique accommodation featuring highly emotive experiences designed to be inspiring, engaging, and richly imbued with character. This ambition gave rise to a collection of unique storied boutique hotels that are captivating, memorable and individually-styled. As sought out addresses for those who relish memorable experiences, bespoke design and off-the-beaten-track moments, each MGallery hotel is remarkable for its singular personality and is deeply rooted in the destination’s history,” said Yohan Amiot, vice president brand management, MGallery.

Yohan Amiot comments further, “Today we are honored to welcome 21c Museum Hotels into the MGallery family. 21c envisions a new kind of hospitality, which promotes accessible, unexpected and innovative arts, cultural and culinary experiences for guests and locals alike, globally connected to contemporary culture, yet firmly rooted within each local community. The 21c brand is the perfect complement to MGallery’s concept of bespoke, creative hospitality for lovers of travel, the arts and immersive experiences.”

21c Museum Hotels – MGallery currently includes eight properties in Bentonville, Cincinnati, Durham, Kansas City, Lexington, Louisville, Nashville and Oklahoma City. Additional projects are in development in Chicago, slated for debut in late 2019, and Des Moines.

The brand also just announced that 21c Museum Hotels has been selected as the brand and management company for a combination boutique hotel, contemporary art museum and independently branded, chef-driven restaurant anticipated to open in the restored YMCA building in downtown St. Louis in late 2020.

“We are embarking upon an exciting period of growth for 21c Museum Hotels and the MGallery Hotel Collection,” said Chris Cahill, deputy chief executive officer, Accor. “Marrying 21c’s exceptional and distinctive brand with the influence of the MGallery collection and strength of Accor’s global platform deepens the full range of unparalleled experiences available to our guests. The official North American introduction of the MGallery brand marks the continued expansion of our lifestyle ‘boutique’ footprint.”

21c Museum Hotels – MGallery are now bookable through Accor reservations systems. 21c will also officially join Le Club AccorHotels as of April 1, 2019, affording 21c guests full access to Le Club AccorHotels member benefits, status points, and the earning and burning of rewards points.

Travel News | eTurboNews

Ethiopian Airlines launches direct Istanbul flight

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Ethiopian Airlines, the largest Aviation Group in Africa and SKYTRAX certified Four Star Global Airline, is pleased to announce that it has finalized all preparations to launch a direct thrice weekly flight to Istanbul, Turkey as of April 1, 2019.

Istanbul is Turkey’s historic, industrial and financial capital.

The flight to Istanbul will be dispatched as per the schedule below:

Flight

Number Frequency Departure

Airport Departure time Arrival Airport Arrival

Time Sub fleet

ET 0720 MON, WED, FRI ADD 23:05 IST 4:35 ET 738
ET 0721 WED,FRI,SUN IST 1:10 ADD 6:40 ET 738

Regarding the upcoming services, Group CEO of Ethiopian Airlines, Mr. Tewolde GebreMariam, remarked, “It gives us great pleasure to launch flights to Istanbul, connecting Europe’s largest city to the over 60 African destinations we serve, through our hub Addis Ababa. Turkey being one of the fastest growing countries among the emerging economies, availability of seamless connectivity options will facilitate the channeling of investors and enhance business ties between the two regions.

As we forge ahead on the path of growth and success as envisioned in Vision 2025, we will keep opening new routes to all corners of the world bringing Africa ever closer to the rest of the world.”

Istanbul marks Ethiopian’s 19th destination in Europe. Ethiopian is currently serving 119 international destinations across five continents with young aircraft with average fleet age of five years. It will also bring the number of passenger flights the airline operates to European cities to 57 per week.

Travel News | eTurboNews

Brazil announces visa-free entry for US, Canadian, Australian, and Japanese citizens

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Brazil is open for you! The Brazilian Government announced that Brazil would allow visa-free entry for citizens of The United States, Canada, Australia, and Japan, effective in 90 days (June 17th). Until then, the current e-visa will be required.

Citizens of those countries wishing to visit Brazil will no longer need to apply or pay for a visa. They will be able to stay in Brazil for 90 days from the date of first entry in the country, extendable for an equal period, provided that it does not exceed one hundred and eighty days, every twelve months, counted from the date of the first entry into the Country.

These developments come as part of a series of measures that Brazil has taken to facilitate visitor access to the country. Last year, the government launched an e-visa platform through which travelers could apply for visas with more efficiency and ease.

Brazil has already seen extremely positive results with an increase of about 35% in the visa application in less than a year since implementing e-visa. These four countries are considered strategic for the development of tourism in Brazil.

According to the Foreign Ministry, in 2017, 169,910 visas (either for business, tourism or transit) had been issued to citizens of the four countries. With the implementation of e-visa, the number rose in 2018 to 229,767.

“This is one of the most important achievements of the Brazilian tourism industry in the last 15 years and we are confident that it will be extremely beneficial to the country,” said Marcelo Alvaro Antônio, Minister of Tourism. “This decision of the Brazilian government proves that we are living a new moment and that tourism is being seen as a vector of economic and social growth of the entire nation. This is the first step; we still have much to celebrate,” explained Minister Antônio.

“The United States was very receptive to the issuance of electronic visas. The World Tourism Organization says that when adopting an electronic visa, visa issuance increases by 25%, so we have exceeded that mark,” said Teté Bezerra, president of Embratur (Brazil’s Tourism Board, a federal agency and part of the Ministry of Tourism).

Now, with a strong Dollar and dozens of daily flights, experiencing Brazil is just a matter of desire and grabbing a plane. From the Amazon in the North to the wines in the South; from the exotic Pantanal in the Midwest to the lush beaches of the Northeast; amazing cities like Rio de Janeiro, São Paulo, Salvador and hundreds of hidden gems are just a few hours away.

Travel News | eTurboNews

Fraport 2018 Fiscal Year: Revenue and Earnings Increase Significantly

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Fraport

Boards propose dividend increase to EUR2 – Outlook remains positive
In the 2018 fiscal year (ending December 31), Fraport AG continued on
its growth path, achieving new records in revenue and earnings.
Supported by strong passenger growth at its Frankfurt Airport home
base and its Group airports worldwide, revenue climbed by 18.5
percent to nearly EUR3.5 billion. After adjusting for revenue related
to capital expenditure for expansion measures at the international
Group companies (based on IFRIC 12), revenue rose 7.8 percent to over
EUR3.1 billion. About two-thirds of this increase can be attributed
to Fraport’s international portfolio – with the airports in Brazil
and Greece, in particular, making a significant contribution.
Fraport AG’s executive board chairman Dr. Stefan Schulte said: “We
are pleased to look back on another very successful year, especially
for our Group airports around the world. Here in Frankfurt, however,
2018 presented challenges due to the constraints in European airspace
and the strong traffic demand. For the medium and long term, we are
very well positioned both at Frankfurt Airport and in our
international business. Moreover, we are laying the foundations for
further long-term growth by implementing our expansion projects.”
Revenue and earnings targets achieved
The operating result (Group EBITDA) climbed markedly by 12.5 percent
to over EUR1.1 billion. The Group result (net profit) rose even
stronger, by 40 percent to EUR505.7 million. This includes earnings
gained from the sale of Fraport’s stake in Hanover Airport, which
contributed EUR75.9 million. However, even without the positive
effects from the Hanover transaction, Fraport already achieved its
revenue and earnings targets. Operating cash flow slightly dipped by
2.0 percent to EUR802.3 million. This was mainly due to changes in
the net current assets related to the reporting date. After adjusting
for these changes, operating cash flow rose by 18.8 percent to
EUR844.9 million. In line with expectations, free cash flow fell
sharply by 98.3 percent, because of more extensive capital
expenditure for Frankfurt Airport and Fraport’s international
business, while remaining in positive territory at EUR6.8 million.
Given the positive business development, the Executive Board and
Supervisory Board will propose to the Annual General Meeting that the
dividend be raised to EUR2.00 per share for the 2018 fiscal year
(2017 fiscal year: EUR1.50 per share).
Passenger traffic rises noticeably at FRA and internationally
Serving some 69.5 million passengers, Frankfurt Airport (FRA)
achieved a new passenger record in 2018 and growth of 7.8 percent
compared to 2017.
CEO Schulte commented: “We are pleased that the airlines have
significantly expanded their flight offerings at Frankfurt Airport
for the second year in a row, thus improving connectivity and
prosperity for businesses far beyond the Frankfurt Rhine-Main Region.
Until the first pier of the new Terminal 3 opens in late 2021, we
will focus on maintaining a high level of service quality at
Frankfurt Airport – while dealing with the constraints affecting the
entire aviation industry. In particular, enhancing the situation at
the security checkpoints will be a top priority for us.”
In response to strong passenger growth, Fraport hired over 3,000 new
staff members at Frankfurt Airport in 2018. Despite the constraints
experienced at some central process points in the terminals during
peak periods – particularly at the security checkpoints – global
satisfaction of passengers with Frankfurt Airport was at 86 percent
in 2018 – thus even posting a slight increase compared to the
previous year (2017: 85 percent). To provide additional space for
security checkpoints, Fraport is investing in an extension to
Terminal 1 for installing seven extra security lanes in the summer of
2019.
Fraport’s international portfolio also posted a significant gain in
passenger traffic during 2018. In Brazil, the two airports of Porto
Alegre and Fortaleza reported a 7.0 percent increase to 14.9 million
passengers in 2018 – Fraport Brasil’s first year of operating these
airports. At the 14 Greek airports, traffic rose by almost 9 percent
to 29.9 million passengers. Antalya Airport in Turkey grew by a
significant 22.5 percent to 32.3 million travelers, a new historic
passenger record.
Outlook: Growth expected to continue
Fraport is forecasting sustained growth at all of the Group airports
in fiscal year 2019. At Frankfurt Airport, passenger volume is
expected to rise between around two and roughly three percent.
Fraport expects consolidated revenue to increase slightly up to
around EUR3.2 billion (adjusted for IFRIC 12). Group EBITDA is
expected to reach a range of around EUR1,160 million and
approximately EUR1,195 million, despite the non-recurring revenue
from the sale of Fraport’s stake in Hanover Airport. The application
of the IFRS 16 accounting standard – which changes the accounting
rules for leases – will not only make a positive contribution to
Group EBITDA, but will also lead to much higher depreciation and
amortization in fiscal year 2019. As a result, Fraport expects Group
EBIT to be in the range of about EUR685 million and around EUR725
million. The company also expects to post a Group result (net profit)
of around EUR420 million and about EUR460 million. The dividend per
share is expected to remain stable at the higher level of EUR2 for
the 2019 fiscal year.
Fraport’s four business segments at a glance
Revenue in the Aviation segment increased by 5.5 percent to slightly
over EUR1 billion. This was due partly to higher revenue from airport
charges resulting from increased passenger traffic at Frankfurt
Airport. At EUR277.8 million, segment EBITDA increased by 11.3
percent year-on-year, while segment EBIT rose 6.5 percent to EUR138.2
million.
Revenue from the Retail & Real Estate segment dropped 2.8 percent
year-on-year to EUR507.2 million. A major reason for this drop was
significantly fewer proceeds from the sale of land (EUR1.9 million in
the 2018 fiscal year versus EUR22.9 million for the same period in
2017). In contrast, parking income (+ EUR8.3 million) and retail
revenue (+ EUR0.8 million) grew. Net retail revenue per passenger
fell 7.4 percent year-on-year to EUR3.12. Segment EBITDA increased by
3.4 percent to EUR390.2 million, while segment EBIT climbed 2.8
percent to EUR302.0 million.
Revenue in the Ground Handling segment rose by 5.0 percent
year-on-year to EUR673.8 million. The strong growth in passenger
traffic resulted, in particular, in stronger revenue from ground
services and higher infrastructure charges. On the other hand,
passenger growth also led to higher personnel expenses at the
FraGround and FraCareS subsidiaries. Accordingly, segment EBITDA
declined by EUR7.0 million to EUR44.4 million. Segment EBIT dropped
considerably by 94 percent, but at EUR0.7 million still remained in
positive territory.
At nearly EUR1.3 billion, the International Activities and Services
segment significantly advanced by 58 percent compared to the previous
year. After adjusting for the EUR359.5 million in revenue related to
IFRIC 12, the segment’s revenue rose by 20.1 percent to EUR931.4
million. This revenue growth received major contributions from the
Group subsidiaries in Fortaleza and Porto Alegre (+ EUR90.9 million),
as well as Fraport Greece (+ EUR53.2 million). Segment EBITDA
increased a noticeable 28.3 percent to EUR416.6 million, while
segment EBIT jumped 40.7 percent to EUR289.6 million.
You can find our 2018 Annual Report and the presentation from the
press conference on our financial statements (as of 10:30 a.m.) on
the Fraport AG website.

MEDIA CONTACT: Fraport AG, Torben Beckmann, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail: t.beckmann@fraport.de

Travel News | eTurboNews

Bartlett: Tourism driving economic growth through events and experiential activities

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Tourism Minister, Hon Edmund Bartlett says Jamaica’s tourism industry has benefitted tremendously from the recent staging of mega culinary and entertainment festivals.

In the month of March, Jamaica hosted its second annual Jamaica Blue Mountain Coffee Festival, the inaugural Jamaica Rum Festival as well as the much-anticipated Buju Banton Long Walk to Freedom concert. Each event saw thousands of patrons, with many visiting from overseas.

“I am very happy to announce that tourism arrivals have been impacted positively in March, from these mega-festivals. They provided an opportunity for us to broaden the market by bringing more people to the destination to meet a variety of passion points which embody the very best of our food, culture and music,” said Minister Bartlett.

The Minister also noted that preliminary figures indicate that arrivals for Kingston’s Norman Manley International Airport, last Friday, ahead of Buju Banton’s Long Walk to Freedom concert, show that 2,434 foreign nationals visited. This represents a 143% increase over the same period last year.

The data from the Jamaica Tourist Board also shows that 7,389 foreign nationals arrived into Montego Bay on Friday, which is a 58% increase over the same day last year.

“The arrivals over the weekend have been very strong and as an industry we are ecstatic. Our focus on our core tourist arrivals remains on strong footing from our key source markets. Since the start of the year, as at yesterday we have receive 72,999 more visitors than last year overt the same period,” said the Minister.

Travel News | eTurboNews

WTTC: South Africa Africa’s largest Travel & Tourism economy in 2018

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Travel & Tourism in South Africa contributed 1.5 million jobs and ZAR425.8 billion to the economy in 2018, making it the largest tourism economy in Africa, according to the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today.

For over 25 years, WTTC, which represents the global private sector of Travel & Tourism, has compared the Travel & Tourism sector across 185 countries. The 2018 research shows that the South Africa Travel & Tourism sector:

• Contributed ZAR425.8 billion to the country’s economy – the largest of any country in Africa. This represents 8.6% of all economic activity in South Africa

• Generated 1.5 million jobs, or 9.2% of total employment

• Was primarily driven by leisure travelers: 64% of the travel economy was generated by leisure visitors and 36% from business travelers

• Is roughly balanced between international and domestic travel: 44% of the tourism spend came from international travelers and 56% from domestic travel

Commenting on the numbers, Gloria Guevara, WTTC President & CEO said: “Travel & Tourism contributes more to the South Africa economy than in any other African country. In total our sector contributes ZAR425.8 billion and 1.5 million jobs which makes it a formidable part of the economy.

“South Africa has long grasped the potential of Travel & Tourism to drive economic growth, create jobs and promote social development and I would like to acknowledge the leadership of Minister of Tourism, H.E. Derek Hanekom. That is why we welcome President Ramaphosa’s ambition to double the number of people directly employed in T&T in South Africa.

“Looking to the future, I believe that Travel & Tourism is South Africa’s greatest resource and the country’s strategy for expansion which priorities regional integration, environment sustainability and putting the community at the heart of decisions will make for a successful combination.”

Travel News | eTurboNews

Botswana tourism now accounts for one in seven dollars in the economy

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Botswana’s Travel & Tourism economy grew 3.4% to exceed $2.5 billion in 2018, and now contributes nearly one in every seven dollars in the country’s economy, according to the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector released today.

The WTTC research which compares the Travel & Tourism sector across 185 countries, shows that in 2018 the Botswana Travel & Tourism sector:

• Grew at 3.4%, just nudging above the Sub-Saharan African average of 3.3%

• Contributed US$2.52 billion to the country’s economy. This represents 13.4% of all economic impact in Botswana – or nearly one in every seven dollars in the economy

• Supported 84,000 jobs, or 8.9% of total employment

• Was primarily driven by leisure travellers: 96% of the Travel & Tourism spending in the economy was generated by leisure visitors and just 4% from business travelers

• Is strongly weighted towards international travel: 73% of spending came from international travelers and 27% from domestic travel

Commenting on the numbers, Gloria Guevara, WTTC President & CEO said: “Botswana is a jewel in the crown of Sub-Saharan Africa’s Travel & Tourism sector. It is home to some of the most iconic tourism sites in Africa, such as the Okavango Delta, Chobe National Park and the Central Kalahari Game Reserve.

“I am delighted to see that Botswana recorded another year of growth ahead of the regional average, reflecting the excellent work of WTTC Member, Myra T. Sekgororoane, CEO of Botswana Tourism Organisation, WTTC’s first African Destination Partner.

“The county has long grasped the potential of Travel & Tourism to drive economic growth, create jobs and promote social development.”

Travel News | eTurboNews

Will Aircraft Wheel Market Reap Excessive Revenues by 2018 – 2028?

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Aircraft wheels are generally overlooked yet important component of an aircraft landing gear system providing the necessary structural strength and support to the tyres. These components take up the major load of an aircraft during taxing, take-off and landing. It has become imperative in the current scenario that aircraft wheels be made as light as possible while still retaining maximum structural strength in order to achieve low fuel consumption. Modern aircraft wheels are typically manufactured by casting or forging process employing two part structure that are combined together to form a wheel. Aircraft wheels differ slightly in design from automotive wheels owing to the fact these have to accommodate multiple disc brake variants.

Aircraft Wheels Market: Dynamics

Affordability, high disposable income among the consumers and increase in number of airports are some of the primary reasons that has influenced the growth of air travel across numerous economies. The demand for air travel is likely to increase in the upcoming years on the backdrop of increasing number of working class population and general need of cheap conveyance from one place to another. As per the reports published by two major aircraft manufacturers, the demand for new commercial aircrafts is expected to improve by more than two hundred percent in the next twenty years coupled by above average growth of passengers which can lead to fruitful prospects for the aircraft wheels market. More than half of the global population are expected to travel by air at least once in 2018 as per reports published by IATA (International Air Transport Association) leading to airline operators to order more aircrafts further strengthening the growth of aircraft wheels market. Sales of aircraft wheels through the aftermarket segment is also estimated to register a positive growth owing to improvements witnessed in aircraft MRO ((Maintenance, Repair and Overhaul) services further benefitting the growth of aircraft wheels market. Another factor that has been the driving force of aircraft wheels market is the trend of major airline operators to regularly lease their aged aircraft fleet to smaller operators, who in turn resort to total refurbishment of the aircraft.

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It is no secret that aircraft manufactures takes up a large chunk of lead time, monetary investments, planning among others. These factors can affect the production of aircraft leading to increased order to delivery ratio creating backlogs. This can act as a restraint to the growth of aircraft wheels leading to delayed delivery of the components and payments. Another that cannot be undermined is the lack of well-knit supply chain that can deter the growth of the aircraft wheels market in the forecast period.

Aircraft Wheels Market: Segmentation

The Aircraft Wheels market can be segmented as follows:

By area of application, the market can be segmented as:

  • Nose wheels
  • Main landing gear wheels

By sales channel, the market can be segmented as:

  • Original Equipment Manufacturers (OEM)
  • Aftermarket

By aircraft type, the market can be segmented as:

  • Narrow body aircraft
  • Wide body aircraft
  • Very large body aircraft
  • Regional aircraft

Aircraft Wheels Market: Regional Outlook

When it comes to commercial aircraft production, only two well-known players take up the majority of market share in the current scenario, hence, the performance of aircraft wheels depends on the locality of these two manufacturing powerhouses. As a result, the aircraft wheels market is particularly strong in both North American and Western Europe region. The presence of a well-known, albeit small scale manufacturer of aircrafts in Latin America can lead to opportunities for the aircraft wheel manufacturer to tap onto the region for revenue generation on a long term basis. The market in Asia Pacific is also likely to grow on a positive note owing to emergence of home grown aircrafts in China and large market for airline operators. The same is also true for the Middle East & Africa region where major airline operators thrive in the region creating opportunities for aircraft wheel market to grow.

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Aircraft Wheels Market: Market Participants

Below are some of the players in the global Aircraft Wheels market, identified within the value chain:

  • United Technologies Corporation
  • Beringer Aero U.S.A., Inc.
  • Honeywell International Inc.
  • Parker Hannifin Corporation
  • Aircraft Landing Gear Systems Inc.
  • Meggitt PLC

The above are some of the largest operators in the market providing aircraft wheels to the original equipment manufacturers while small scale players contribute a very small percentage to the total aircraft wheels market.300px-ВПР-1200.jpg

Marine Engine Monitoring System Market – Trends, Growth Propellers, Segmentation And Top Players forecast 2025

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The report “Marine Engine Monitoring System Market by Engine Type (Propulsion Engine, Auxiliary Engine), End Use (OEM, Aftermarket), Component (Hardware, Software), Ship Type (Commercial, Naval), Deployment (On-Board, Remote), and Region – Global Forecast to 2025″, The marine engine monitoring system market is estimated to be USD 508.4 Million in 2018 and is projected to reach USD 656.5 Million by 2025, at a CAGR of 3.72% from 2018 to 2025. The growth in international seaborne trade, increased demand for marine engine monitoring systems from the new shipbuilding & repair market, and rise in maritime tourism are the key factors that are anticipated to drive the marine engine monitoring system market.

Browse 97 market data Tables and 48 Figures spread through 171 Pages and in-depth TOC on “Marine Engine Monitoring System Market – Global Forecast to 2025”

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Based on component, the software segment is projected to grow at the highest CAGR during the forecast period.

Based on component, the software segment of the marine engine monitoring system market is projected to grow at the highest CAGR from 2018 to 2025 The growth of the software segment can be attributed to its advantages that include data analysis process and trend analysis. Technologies such as predictive maintenance, dig data analysis, and IoT will add more comprehensive software analysis, which would be adopted in marine engines during the forecast period.

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Based on ship type, the commercial segment is estimated to lead the marine engine monitoring system market in 2018.

Based on ship type, the commercial segment is estimated to lead the marine engine monitoring system market in 2018 and the naval ships segment of the marine engine monitoring system market is projected to grow at the highest CAGR from 2018 to 2025. The demand for merchant ships to transport commodities worldwide is driving the growth of the commercial ships segment. According to the International Chamber of Shipping (ICS), there are over 50,000 merchant ships that transport cargo internationally. The growth of the naval ships segment can be attributed to the increasing investments in the defense sector in North America and Europe.

Based on engine type, the auxiliary engine segment is expected to witness the highest growth during the forecast period.

Based on engine type, the auxiliary segment of the marine engine monitoring system market is projected to grow at the highest CAGR during the forecast period. The growth of the auxiliary engine segment is primarily driven by the increase in the deliveries of cruise boats, recreational ships, and passenger ships, which require auxiliary engines for electricity generation and power management.

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Based on deployment, the remote monitoring segment is expected to witness the highest growth during the forecast period

Based on deployment, the remote monitoring segment of the marine engine monitoring system market is projected to grow at the highest CAGR during the forecast period. The increasing demand for real-time data sharing through IoT sensors is expected to drive the growth of the remote monitoring segment of the marine engine monitoring system market.

The marine engine monitoring system market in Europe is expected to witness the highest growth during the forecast period.

The marine engine monitoring system market in Europe is projected to grow at the highest CAGR from 2018 to 2025 The European shipbuilding industry is involved in the construction of complex naval vessels, such as cruise ships, ferries, mega yachts, submarines, and dredgers (offshore vessels). Moreover, the marine monitoring system industry in Europe offers a wide range of products that include propulsion systems, diesel engines monitoring system, environmental safety systems, cargo handling systems, and related electronics.

Major companies profiled in the marine engine monitoring system market report include ABB (Switzerland), AST Group (UK), CMR Group (France), Caterpillar (US), Cummins (US), Emerson (US), Hyundai Heavy Industries (South Korea), Jason Marine (Singapore), Kongsberg (Norway), MAN Diesel & Turbo (Germany), Mitsubishi Heavy Industries (Japan), NORIS Group (Germany), Rolls Royce (UK), and Wartsila (Finland), among others.

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Marine Propeller Market by Type (Propellers, Thrusters), Application (Merchant Ships, Naval Ships, Boats), Material (Stainless Steel, Aluminium, Bronze, Nickel-Aluminium Bronze), End User, Propulsion, Number of Blades, Region – Global Forecast to 2022

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