Maritime Safety System Market
Maritime Safety System Market Forecasts to 2028 – Global Analysis By Component (Services, Solutions), Application (Counter Piracy, Safety of Ship), and End User, By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $24.79 BN |
|
Projected Year Value (2028) |
US $45.03 BN |
|
CAGR (2021 - 2028) |
8.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Maritime Safety System Market is accounted for $24.79 billion in 2021 and is expected to reach $45.03 billion by 2028 growing at a CAGR of 8.9% during the forecast period. Maritime safety includes everything from the safety of workers to ship construction and maintenance. Maritime safety refers to the securing of a life or a specific science of property with the aid of management, technology, or regulation of some kind of transportation conducted over water.
Market Dynamics:
Driver:
Increasing need to manage complex supply chain operations
The marine industry has to cope with dynamic market conditions and complex processes to operate. The industry is in the rush to employ digital technologies in shipping logistics as an opportunity to streamline operations, create smarter ships and fleets, and better prepare to capitalize on the growth. The marine management software offers a solution to end-users to effectively handle supply chain operations. Furthermore, more stringent environmental requirements continue to shape the maritime transport sector as transporters need to maintain service levels and reduce costs, and at the same time ensure sustainability in operations.
Restraint:
Rising criminal activities
The lack of uniform standards to implement security solutions across the marine industry and rising criminal activities across the marine industry are restraining the market growth. High integration & maintenance costs, growth in cyber warfare along with maritime terrorism, gun-running, drug trafficking, and other non-traditional seaborne attack are the major restraining factors of this market.
Opportunity:
Development of integrated solutions
The maritime industry needs effective information sharing in real-time among communities of similar interest. The global naval network depends on information and communication technology that connects all the players and enables the effective flow of information, intelligence, and communications. Integrated traffic management systems and solutions offer high-performance and reliable services that are required to fulfill the continually evolving maritime safety standards. The detection of incidents is critical in the maritime domain. Thus, an integrated solution, which will offer a platform and provide data analysis to prevent maritime terrorism and piracy, is in great demand.
Threat:
Growing issues pertaining to piracy
The attacks on vessels by pirates have been increasing over the past years. However, these are longer routes and cost more fuel. The extra fuel cost has to be borne by the customers. To reduce this, maritime safety has to be strengthened in areas where there are major risks of piracy. Some technologies and solutions can analyze piracy networks. This will help the countries to identify and arrest individuals involved in maritime piracy. As businesses are growing, the amount of data being collected from sources across networks, users, endpoints, and applications, continues to grow.
The services segment is expected to be the largest during the forecast period
The services segment is estimated to have a lucrative growth owing to the requirement for determining the time and cost needed to install the solution that requires fully-managed maritime safety services. The increasing need for maritime safety systems with proven small target detection capability to assist authorities in efficiently monitoring illegal activities is likely to gain traction in the next few years.
The vessel monitoring and management system segment is expected to have the highest CAGR during the forecast period
The vessel monitoring and management system segment is anticipated to witness the fastest CAGR growth during the forecast period as this system helps in pinpointing the location of the ships and also helps in the transfer of important weather and environmental data.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to rising instances of maritime threats in the regions, a rise in the adoption of maritime safety solutions and services, and favorable government regulations.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period as maritime safety solutions and services are highly effective in most organizations and verticals owing to the rising need to provide superior and advanced technology for the detection of various hazards and communication with all the available officials across the maritime sector.
Key players in the market
Some of the key players profiled in the Maritime Safety System Market include Westminster Group, Thales Group, Honeywell, Smiths Group, L3Harris Technologies, Raytheon, OSI Maritime Systems, Nuctech, Elbit Systems, HALO Maritime Defense Systems, Leonardo, Nautix Technologies, KONGSBERG, Saab Group, BAE Systems, Terma Group, and Northrop Grumman.
Key Developments:
In Dec 2021, Honeywell launched a new, user-friendly monitor Honeywell Transmission Risk Air Monitor that alerts users when indoor air conditions may present an increased risk of potentially transmitting airborne viruses in schools, restaurants, and other spaces. The Honeywell Transmission Risk Air Monitor is an easy-to-deploy, portable device that measures carbon dioxide and features a proprietary risk alerting system based on user-selected activity levels within a room.
In Oct 2020, Thales Group partnered with CS Group to offer a high-performance, resilient, and cyber secure navigation system. The system comprises Thales's TopAxyz inertial navigation unit, which has delivered an outstanding performance in the especially rigorous conditions of civil aviation, clocking up over 20 million hours of operation.
Security Types Covered:
• Crew Security
• Vessel Security
• Ship System and Equipment (SSE) Safety
• Cargoes and Containers Safety
• Port and Critical Infrastructure Security
• Coastal Surveillance
• Other Security Types
Components Covered:
• Services
• Solutions
Systems Covered:
• Vessel Monitoring and Management System
• Ship Security Reporting System
• Long Range Tracking and Identification (LRIT) System
• Global Maritime Distress Safety System (GMDSS)
• Automatic Identification System (AIS)
• Other Systems
Applications Covered:
• Security Management
• Counter Piracy
• Pollution Prevention and Response (PPR) Management
• Loss Prevention and Detection
• Coastal Monitoring
• Safety of Ship
End Users Covered:
• Cargos & Containers
• Government Institutions
• Marine & Construction
• Oil & Gas
• Shipping & Transportation
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Maritime Safety System Market, By Security Type
5.1 Introduction
5.2 Crew Security
5.3 Vessel Security
5.4 Ship System and Equipment (SSE) Safety
5.5 Cargoes and Containers Safety
5.6 Port and Critical Infrastructure Security
5.7 Coastal Surveillance
5.8 Other Security Types
5.8.1 Yacht Security
5.8.2 Shipyard Security
5.8.3 Cyber Security
5.8.4 Safety of Marine Installations
6 Global Maritime Safety System Market, By Component
6.1 Introduction
6.2 Services
6.2.1 Professional Services
6.2.1.1 Training and Consulting
6.2.1.2 Support and Maintenance
6.2.1.3 Risk Assessment and Investigation
6.2.2 Managed Services
6.3 Solutions
7 Global Maritime Safety System Market, By System
7.1 Introduction
7.2 Vessel Monitoring and Management System
7.3 Ship Security Reporting System
7.4 Long Range Tracking and Identification (LRIT) System
7.5 Global Maritime Distress Safety System (GMDSS)
7.6 Automatic Identification System (AIS)
7.7 Other Systems
7.7.1 Automated Mutual Assistance Vessel Rescue System (AMVER)
7.7.2 Automated Manifest System (AMS)
8 Global Maritime Safety System Market, By Application
8.1 Introduction
8.2 Security Management
8.3 Counter Piracy
8.4 Pollution Prevention and Response (PPR) Management
8.5 Loss Prevention and Detection
8.6 Coastal Monitoring
8.7 Safety of Ship
9 Global Maritime Safety System Market, By End User
9.1 Introduction
9.2 Cargos & Containers
9.3 Government Institutions
9.4 Marine & Construction
9.5 Oil & Gas
9.6 Shipping & Transportation
9.7 Other End Users
9.7.1 Boat Owners
9.7.2 Ship Agencies
9.7.3 Yachts
10 Global Maritime Safety System Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Westminster Group
12.2 Thales Group
12.3 Honeywell
12.4 Smiths Group
12.5 L3Harris Technologies
12.6 Raytheon
12.7 OSI Maritime Systems
12.8 Nuctech
12.9 Elbit Systems
12.10 HALO Maritime Defense Systems
12.11 Leonardo
12.12 Nautix Technologies
12.13 KONGSBERG
12.14 Saab Group
12.15 BAE Systems
12.16 Terma Group
12.17 Northrop Grumman
List of Tables
1 Global Maritime Safety System Market Outlook, By Region (2020-2028) ($MN)
2 Global Maritime Safety System Market Outlook, By Security Type (2020-2028) ($MN)
3 Global Maritime Safety System Market Outlook, By Crew Security (2020-2028) ($MN)
4 Global Maritime Safety System Market Outlook, By Vessel Security (2020-2028) ($MN)
5 Global Maritime Safety System Market Outlook, By Ship System and Equipment (SSE) Safety (2020-2028) ($MN)
6 Global Maritime Safety System Market Outlook, By Cargoes and Containers Safety (2020-2028) ($MN)
7 Global Maritime Safety System Market Outlook, By Port and Critical Infrastructure Security (2020-2028) ($MN)
8 Global Maritime Safety System Market Outlook, By Coastal Surveillance (2020-2028) ($MN)
9 Global Maritime Safety System Market Outlook, By Other Security Types (2020-2028) ($MN)
10 Global Maritime Safety System Market Outlook, By Yacht Security (2020-2028) ($MN)
11 Global Maritime Safety System Market Outlook, By Shipyard Security (2020-2028) ($MN)
12 Global Maritime Safety System Market Outlook, By Cyber Security (2020-2028) ($MN)
13 Global Maritime Safety System Market Outlook, By Safety of Marine Installations (2020-2028) ($MN)
14 Global Maritime Safety System Market Outlook, By Component (2020-2028) ($MN)
15 Global Maritime Safety System Market Outlook, By Services (2020-2028) ($MN)
16 Global Maritime Safety System Market Outlook, By Professional Services (2020-2028) ($MN)
17 Global Maritime Safety System Market Outlook, By Managed Services (2020-2028) ($MN)
18 Global Maritime Safety System Market Outlook, By Solutions (2020-2028) ($MN)
19 Global Maritime Safety System Market Outlook, By System (2020-2028) ($MN)
20 Global Maritime Safety System Market Outlook, By Vessel Monitoring and Management System (2020-2028) ($MN)
21 Global Maritime Safety System Market Outlook, By Ship Security Reporting System (2020-2028) ($MN)
22 Global Maritime Safety System Market Outlook, By Long Range Tracking and Identification (LRIT) System (2020-2028) ($MN)
23 Global Maritime Safety System Market Outlook, By Global Maritime Distress Safety System (GMDSS) (2020-2028) ($MN)
24 Global Maritime Safety System Market Outlook, By Automatic Identification System (AIS) (2020-2028) ($MN)
25 Global Maritime Safety System Market Outlook, By Other Systems (2020-2028) ($MN)
26 Global Maritime Safety System Market Outlook, By Automated Mutual Assistance Vessel Rescue System (AMVER) (2020-2028) ($MN)
27 Global Maritime Safety System Market Outlook, By Automated Manifest System (AMS) (2020-2028) ($MN)
28 Global Maritime Safety System Market Outlook, By Application (2020-2028) ($MN)
29 Global Maritime Safety System Market Outlook, By Security Management (2020-2028) ($MN)
30 Global Maritime Safety System Market Outlook, By Counter Piracy (2020-2028) ($MN)
31 Global Maritime Safety System Market Outlook, By Pollution Prevention and Response (PPR) Management (2020-2028) ($MN)
32 Global Maritime Safety System Market Outlook, By Loss Prevention and Detection (2020-2028) ($MN)
33 Global Maritime Safety System Market Outlook, By Coastal Monitoring (2020-2028) ($MN)
34 Global Maritime Safety System Market Outlook, By Safety of Ship (2020-2028) ($MN)
35 Global Maritime Safety System Market Outlook, By End User (2020-2028) ($MN)
36 Global Maritime Safety System Market Outlook, By Cargos & Containers (2020-2028) ($MN)
37 Global Maritime Safety System Market Outlook, By Government Institutions (2020-2028) ($MN)
38 Global Maritime Safety System Market Outlook, By Marine & Construction (2020-2028) ($MN)
39 Global Maritime Safety System Market Outlook, By Oil & Gas (2020-2028) ($MN)
40 Global Maritime Safety System Market Outlook, By Shipping & Transportation (2020-2028) ($MN)
41 Global Maritime Safety System Market Outlook, By Other End Users (2020-2028) ($MN)
42 Global Maritime Safety System Market Outlook, By Boat Owners (2020-2028) ($MN)
43 Global Maritime Safety System Market Outlook, By Ship Agencies (2020-2028) ($MN)
44 Global Maritime Safety System Market Outlook, By Yachts (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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