What marineworks does

MarineWorks (마린웍스) is a Busan, South Korea-based maritime ICT solutions provider that designs, sells, and services shipboard navigation, bridge, and fleet management systems for shipping companies. Founded in 2015 as a specialized digital and ICT arm of the long-established maritime electronics manufacturer Marinelec (마린전자, founded 1975), MarineWorks operates with 120+ employees and serves 240+ shipping-company customers, having cumulatively sold more than 1,000 ECDIS units over its history. The company is a subsidiary of Marinelec, leveraging the parent's four decades of maritime electronics domain expertise.

The company's product portfolio spans navigation systems (ECDIS, W-ECDIS, RADAR, Conning, Chart Master), an Integrated Bridge System (IBS), a Smart Ship platform for real-time safety and optimal voyage management, system integration offerings (Nav-Int, Net-Int, VTS), maritime simulators (SHS, ERS, LCHS, EBTS), cybersecurity services, and IT outsourcing for maritime operations. The MyFleet subscription service consolidates ECS, MASTER, MONITORING, and AI Service modules into a recurring-revenue compliance and competitiveness platform for shipowners. The architecture is platform-plus-modules, with onboard hardware (navigation and IBS) acting as the entry point and onshore software (MyFleet) extending the relationship into recurring revenue.

MarineWorks earns revenue through four streams: one-time licensing/sale of navigation and bridge hardware, MyFleet subscription (recurring), IT outsourcing professional services, and system integration projects. Go-to-market is direct enterprise field sales to shipping companies, supplemented by participation in international maritime exhibitions (e.g., the 2026 International Maritime Safety Expo in Incheon). Recent strategic moves include a partnership with Isolution to develop maritime ESS for eco-friendly vessels, selection as the main operator for Korea's government eco-friendly autonomous tugboat project, and the launch of AI-based smart maritime safety technology.

Name

marineworks

Legal name

MarineWorks

Website

https://marineworks.co.kr

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

MarineWorks is a Busan-based maritime ICT company, subsidiary of Marinelec, providing navigation systems, integrated bridge systems, smart ship platforms, and the MyFleet subscription service to 240+ shipping-company customers across Asia.

Ownership category

akta.pro rank

Headquarters

HQ city

Busan

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Product Sales: Sale of maritime electronics products including ECDIS, W-ECDIS, RADAR, Conning, Chart Master, IBS navigation systems, Smart Ship building solutions, and simulators.
2. MyFleet Subscription Service: Subscription-based model providing content and IT solutions for shipping companies' compliance and competitiveness needs.
3. IT Outsourcing Services: IT outsourcing services for maritime operations.
4. System Integration: System integration services including Nav-Int, Net-Int, and VTS (Vessel Traffic Systems).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

MarineWorks designs, sells, and supports maritime ICT solutions for shipping companies, including navigation systems (ECDIS, W-ECDIS, RADAR, Conning, Chart Master), Integrated Bridge Systems (IBS), Smart Ship platforms, maritime simulators, Vessel Traffic Service (VTS) integration, and cybersecurity. It also delivers the subscription-based MyFleet service for fleet compliance and monitoring, plus IT outsourcing for maritime operations.

Product overview

MarineWorks is a maritime ICT (Information and Communication Technology) company offering a comprehensive suite of solutions for the maritime industry. The portfolio centers on a platform-plus-modules architecture, combining the core Smart Ship platform with specialized products including Navigation systems (IBS, ECDIS, W-ECDIS, RADAR, Conning, Chart Master), System Integration (Nav-Int, Net-Int, VTS), Simulator solutions (SHS, ERS, LCHS, EBTS), and the subscription-based MyFleet Service (ECS, MASTER, MONITORING, AI Service). The company also provides Cyber Security and IT Outsourcing services, serving both onshore and onboard maritime operations with a focus on enhancing ship safety and operational efficiency while maintaining compliance with complex maritime regulations.

Differentiator

Problem solved

Functional benefit

Brands

• MyFleet Service: Subscription-based content and IT solutions for maritime compliance and competitiveness enhancement for shipping companies
• IBS (Integrated Bridge System)
• Smart Ship
• Navigation Systems
• System Integration
• Simulator
• Cyber Security
• IT Outsourcing

Quantifiable outcome

• 1000+ ECDIS units sold

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

One partnership is on record.

• Isolution (이솔루션)coreStrategic or Co-development Partner · 23 June 2026MarineWorks partnered with Isolution to develop next-generation maritime ESS (Energy Storage System) for eco-friendly vessels. This partnership aims to actively respond to the eco-friendly ship market by combining MarineWorks' maritime ICT expertise with Isolution's ESS technology.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• HiNAS (Hyundai Heavy Industries): Hyundai Intelligent Navigation Assistant System is HD Hyundai's autonomous ship navigation AI platform. It is a close emerging competitor to MarineWorks' Smart Ship Platform within Korea and could win contracts where HD Hyundai shipyard influence is decisive.
• Avikus (HD Hyundai): Avikus is HD Hyundai's autonomous navigation subsidiary developing self-driving solutions for commercial and recreational vessels. It is comparable to MarineWorks' Smart Ship Platform and autonomous tugboat efforts and represents a Korean competitor with substantially more shipbuilding-group backing.

Others

• ECR NAV (IHO/Chart updates): Chart and ECDIS data providers such as PRIMAR and IHO-affiliated services supply the chart data that ECDIS and MyFleet-type services depend on. While not a direct competitor to MarineWorks' hardware, they are critical ecosystem participants whose licensing terms affect MarineWorks' cost base and product roadmap.

Broad incumbents

• Northrop Grumman Sperry Marine: Sperry Marine supplies gyrocompasses, RADAR, ECDIS, and integrated bridge systems for commercial and naval vessels globally. It competes with MarineWorks' navigation and IBS offerings and brings defense-grade positioning as a larger diversified maritime technology vendor.
• Kongsberg Maritime: Kongsberg Maritime delivers navigation, bridge systems, automation, and maritime simulators used by commercial shipping and offshore operators. It directly overlaps MarineWorks' Navigation, IBS, and Simulator portfolios and represents the dominant Nordic incumbent in the same product categories.
• Wärtsilä Voyage (formerly Transas): Wärtsilä Voyage is a global leader in marine navigation, ECDIS, integrated bridge systems, and smart ship solutions. It competes directly with MarineWorks in ECDIS/IBS and offers broader voyage services, but operates at much larger scale across multiple vessel segments worldwide.
• Raytheon Anschütz: Raytheon Anschütz is a German provider of navigation, bridge, and naval automation systems including ECDIS and RADAR. It is a direct competitor to MarineWorks in commercial navigation systems and serves similar international shipping customers.

Direct peers

• Japan Radio Co. (JRC): JRC manufactures marine navigation and communication equipment including ECDIS, RADAR, and GMDSS systems for commercial vessels. It is a direct Asian peer to MarineWorks in regulated navigation electronics and competes for similar shipyard and shipping line customers.
• Tokyo Keiki Inc. Tokyo Keiki is a Japanese maker of marine navigation instruments including gyrocompasses, autopilots, and integrated bridge systems. It overlaps with MarineWorks' Navigation and IBS product lines and competes primarily in the Asian shipbuilding and shipping market.
• Furuno Electric Co. Furuno is a Japanese marine electronics manufacturer producing ECDIS, RADAR, and integrated bridge systems for commercial and fishing fleets. It is one of the closest direct competitors to MarineWorks in the Asian maritime electronics market with comparable product breadth.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/marineworks-offical

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about marineworks