Maritime Security Market
Maritime Security Market Forecasts to 2028 - Global Analysis By System (Surveillance and Tracking, Screening and Scanning and Other Systems), Type (Coastal Security, Vessel Security and Other Security Types), Component (Services and Solutions), Application (Coastal Monitoring, Loss Prevention and Detection and Other Applications), End User, Threats and Vulnerabilities and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $30.0 BN |
|
Projected Year Value (2028) |
US $50.3 BN |
|
CAGR (2022 - 2028) |
9.0% |
|
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 Security Market is accounted for $30.0 billion in 2022 and is expected to reach $50.3 billion by 2028 growing at a CAGR of 9.0% during the forecast period. The terms "maritime" and "maritime sector" refer to the goods, services, and issues associated with vast bodies of water like seas and oceans. Seaborne trade is the principal emphasis of the maritime sector. Since shipping large shipments of freight by sea is the fastest, most cost-effective, and most efficient method, maritime routes account for the majority of global trade. Marine systems provide a range of economic resources. Due to their relevance and contribution to the world economy, marine systems require protection from dangers. Protection of the ship, its cargo, its crew, naval channels, straits, waterways, and coastal lines are all part of maritime security.
According to the International Maritime Organization (IMO), more than 90% of global trade is carried through the sea network.
Market Dynamics:
Driver:
The rising threats to maritime security
The Indo-Pacific region has experienced a transformation during the past ten years due to its importance in global sea trade. With the Belt and Road Initiative, China, which is fast becoming a global superpower, aims to establish its control in the Indo-Pacific by developing and leasing ports there and nearby. Furthermore, there is increasing international drug trafficking via sea routes now that the Taliban are back in power in Afghanistan. Other dangers include the rise in non-state actor pirate attacks in the Persian Gulf. The growing challenges to maritime security posed by piracy, terrorism, oil spills, illicit fishing, and geopolitical unrest will therefore drive the growth of the worldwide maritime security market.
Restraint:
Rise in concerns regarding piracy to hinder the market pace
Attacks by pirates on ships have grown in recent years, mainly along West African sea routes. However, routes with fewer pirate attacks, such those in the Indian Ocean and the Gulf of Aden, are longer and use more fuel. The clients must for this increased fuel expense. For this reason, maritime security must be stepped up in areas where piracy is a serious threat. A global database on maritime piracy is currently being created, and some maritime security technology and solutions can analyse piracy networks.
Opportunity:
Technological advancements in maritime security devices
The modern threats to oceans and seafaring ships cannot be handled by the traditional maritime security systems. The threat of a changing climate to marine ecosystems, including increasing sea levels and dwindling marine resources, flora, and wildlife, is one of the concerns of the contemporary era. Therefore, it is necessary to create better and innovative maritime security systems that can counteract contemporary threats. Robotics, artificial intelligence, data analytics, and digital technologies are all being used as instruments in marine security. Therefore, during the projection period, the market for marine security will benefit greatly from technological improvements.
Threat:
Increasing incidents of cyber-attacks
Threats to marine security are now coming from virtual space due to technological improvements. The optimisation of marine activities in ships, ports, and trade routes through automation and digitization has raised the risk of cyberattacks. In the maritime sector, sophisticated cyberattacks may result in issues with operations, security, or safety. The current maritime security measures are not completely capable of addressing the evolving cyber threats. Therefore, the market's expansion will be hampered by the rising incidence of cyberattacks and the inadequate conventional maritime security measures.
Covid-19 Impact
The transport industry has been significantly impacted by the Covid-19 epidemic, a dynamic phenomenon. Vessels that are security conscious will still be able to transact, but secure trading calls for reliable, real-time, data-driven technology. As a result, it is unlikely that there would be a decrease in piracy accidents, and a partial increase is much more plausible given the higher chance that defensive mechanisms will be impaired as a result of widespread infection. Ships, ship-owners, and the marine industry must put their trust in simple, data-driven, and useful solutions in this unpredictable time. This will encourage economic activity in this new environment.
The security management segment is expected to be the largest during the forecast period
The security management segment is estimated to have a lucrative growth, due to the increased emphasis on using best practises to protect vessels against both internal and external threats. Additionally, a significant reason in the segment's revenue growth is the quick uptake of devices with Artificial Intelligence (AI) capabilities in supervision and inspection tasks. Additionally, because of how big the marine industry is, it can often be challenging to filter the vast quantities of goods that enter any given nation.
The government institutions segment is expected to have the highest CAGR during the forecast period
The government institutions segment is anticipated to witness the fastest CAGR growth during the forecast period. High-level safety regulations for ships are being implemented, and large funds are being invested in reducing ship-related pollution and creating safe harbour environments. In addition, a key driver driving the market revenue growth over the projection period is the growing emphasis on defending naval and marine interests despite resource limitations in a difficult maritime security paradigm and overall security environment.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to significant investments in sustaining marine capabilities, military planning, training, and operations, as well as an increasing focus on seaport security. Additionally, a clean maritime environment across the Asia Pacific market, safe shipping, and the Asia Pacific Heads of Maritime Safety Agencies (APHoMSA) meeting are important factors boosting market revenue growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to rapid technological advancements in the marine sector, including the incorporation of IoT systems, AI, Machine Learning (ML), and others, are key drivers of the market's expansion in terms of revenue. Due to heightened maritime safety and security provided by an extensive situational awareness display of vessels outfitted with AIS, the U.S. market accounted for the greatest revenue share.
Key players in the market
Some of the key players profiled in the Maritime Security Market include Elbit Systems Ltd, OSI Systems Inc., Leidos Holdings Inc., Airbus SE, Thales Group, Smiths Group PLC, Leonardo SpA, SAAB AB, Nuctech Company Limited, Westminster Group PLC, BAE Systems PLC, Kongsberg Gruppen ASA, Terma AS, Honeywell, Northrop Grumman, Raytheon Anschutz, L3 Harris Technologies and Atlas Elektronik.
Key Developments:
In January 2022, Honeywell announced an innovative, new low-global-warming-potential (GWP) refrigerant for commercial and industrial refrigeration that is optimized for supermarkets. The product meets the needs of grocers and retailers who are seeking low-global-warming solutions ahead of likely regulatory changes.
In January 2022, Elbit Systems Sweden agreed to supply combat management systems to the Royal Swedish Navy. It would enable underwater detection and surface tracks, based on real-time data, live video streaming, and imagery data, thereby expanding the operational envelope, increasing flexibility, and enabling effective decision making during MCM missions.
In December 2021, Everbridge, has launched its next-generation Travel Risk Management (TRM) solution for new and existing customers. It helps businesses and organizations quickly locate and communicate with travelling employees, remote workers, and those returning to the office, which may be in harm’s way.
In December 2021, Honeywell announced a new, user-friendly 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. It 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 October 2021, Thales and CS GROUP entered into partnership to offer a complete navigation system for Navies surface ships.
In June 2021 Smith’s Detection partnered with Lazada Thailand to step up threat detection capabilities. This will automatically help to detect undeclared, unsecured lithium batteries that can ignite when shipped by air.
Systems Covered:
• Surveillance and Tracking
• Screening and Scanning
• Communications
• Global Maritime Distress Safety System (GMDSS)
• Vessel Monitoring and Management System
• Ship Security Reporting System
• Long Range Tracking and Identification (LRIT) System
• Automatic Identification System (AIS)
• Other Systems
Types Covered:
• Coastal Security
• Port and Critical Infrastructure Security
• Vessel Security
• Cargoes and containers Safety
• Crew Security
• Ship system and equipment (SSE) Safety
• Other Types
Components Covered:
• Services
• Solutions
• Other Components
Applications Covered:
• Coastal Monitoring
• Loss Prevention and Detection
• Pollution Prevention and Response (PPR) Management
• Security Management
• Safety of Ship
• Counter Piracy
• Other Applications
End Users Covered:
• Marine & Construction
• Cargos & Containers
• Government Institutions
• Shipping & Transportation
• Oil & Gas
• Other End Users
Threats and Vulnerabilities Covered:
• Perimeter Security
• Deep Security
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 Security Market, By System
5.1 Introduction
5.2 Surveillance and Tracking
5.3 Screening and Scanning
5.4 Communications
5.5 Global Maritime Distress Safety System (GMDSS)
5.6 Vessel Monitoring and Management System
5.7 Ship Security Reporting System
5.8 Long Range Tracking and Identification (LRIT) System
5.9 Automatic Identification System (AIS)
5.10 Other Systems
6 Global Maritime Security Market, By Type
6.1 Introduction
6.2 Coastal Security
6.3 Port and Critical Infrastructure Security
6.4 Vessel Security
6.5 Cargoes and containers Safety
6.6 Crew Security
6.7 Ship system and equipment (SSE) Safety
6.8 Other Types
7 Global Maritime Security Market, By Component
7.1 Introduction
7.2 Services
7.2.1 Professional Services
7.2.1.1 Risk Assessment and Investigation
7.2.1.2 Support and Maintenance
7.2.1.3 Training and Consulting
7.2.2 Managed Services
7.3 Solutions
7.4 Other Components
8 Global Maritime Security Market, By Application
8.1 Introduction
8.2 Coastal Monitoring
8.3 Loss Prevention and Detection
8.4 Pollution Prevention and Response (PPR) Management
8.5 Security Management
8.6 Safety of Ship
8.7 Counter Piracy
8.8 Other Applications
9 Global Maritime Security Market, By End User
9.1 Introduction
9.2 Marine & Construction
9.3 Cargos & Containers
9.4 Government Institutions
9.5 Shipping & Transportation
9.6 Oil & Gas
9.7 Other End Users
10 Global Maritime Security Market, By Threats and Vulnerabilities
10.1 Introduction
10.2 Perimeter Security
10.3 Deep Security
11 Global Maritime Security Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Elbit Systems Ltd
13.2 OSI Systems Inc.
13.3 Leidos Holdings Inc.
13.4 Airbus SE
13.5 Thales Group
13.6 Smiths Group PLC
13.7 Leonardo SpA
13.8 SAAB AB
13.9 Nuctech Company Limited
13.10 Westminster Group PLC
13.11 BAE Systems PLC
13.12 Kongsberg Gruppen ASA
13.13 Terma AS
13.14 Honeywell
13.15 Northrop Grumman
13.16 Raytheon Anschutz
13.17 L3 Harris Technologies
13.18 Atlas Elektronik
List of Tables
1 Global Maritime Security Market Outlook, By Region (2020-2028) ($MN)
2 Global Maritime Security Market Outlook, By System (2020-2028) ($MN)
3 Global Maritime Security Market Outlook, By Surveillance and Tracking (2020-2028) ($MN)
4 Global Maritime Security Market Outlook, By Screening and Scanning (2020-2028) ($MN)
5 Global Maritime Security Market Outlook, By Communications (2020-2028) ($MN)
6 Global Maritime Security Market Outlook, By Global Maritime Distress Safety System (GMDSS) (2020-2028) ($MN)
7 Global Maritime Security Market Outlook, By Vessel Monitoring and Management System (2020-2028) ($MN)
8 Global Maritime Security Market Outlook, By Ship Security Reporting System (2020-2028) ($MN)
9 Global Maritime Security Market Outlook, By Long Range Tracking and Identification (LRIT) System (2020-2028) ($MN)
10 Global Maritime Security Market Outlook, By Automatic Identification System (AIS) (2020-2028) ($MN)
11 Global Maritime Security Market Outlook, By Other Systems (2020-2028) ($MN)
12 Global Maritime Security Market Outlook, By Type (2020-2028) ($MN)
13 Global Maritime Security Market Outlook, By Coastal Security (2020-2028) ($MN)
14 Global Maritime Security Market Outlook, By Port and Critical Infrastructure Security (2020-2028) ($MN)
15 Global Maritime Security Market Outlook, By Vessel Security (2020-2028) ($MN)
16 Global Maritime Security Market Outlook, By Cargoes and containers Safety (2020-2028) ($MN)
17 Global Maritime Security Market Outlook, By Crew Security (2020-2028) ($MN)
18 Global Maritime Security Market Outlook, By Ship system and equipment (SSE) Safety (2020-2028) ($MN)
19 Global Maritime Security Market Outlook, By Other Types (2020-2028) ($MN)
20 Global Maritime Security Market Outlook, By Component (2020-2028) ($MN)
21 Global Maritime Security Market Outlook, By Services (2020-2028) ($MN)
22 Global Maritime Security Market Outlook, By Professional Services (2020-2028) ($MN)
23 Global Maritime Security Market Outlook, By Risk Assessment and Investigation (2020-2028) ($MN)
24 Global Maritime Security Market Outlook, By Support and Maintenance (2020-2028) ($MN)
25 Global Maritime Security Market Outlook, By Training and Consulting (2020-2028) ($MN)
26 Global Maritime Security Market Outlook, By Managed Services (2020-2028) ($MN)
27 Global Maritime Security Market Outlook, By Solutions (2020-2028) ($MN)
28 Global Maritime Security Market Outlook, By Other Components (2020-2028) ($MN)
29 Global Maritime Security Market Outlook, By Application (2020-2028) ($MN)
30 Global Maritime Security Market Outlook, By Coastal Monitoring (2020-2028) ($MN)
31 Global Maritime Security Market Outlook, By Loss Prevention and Detection (2020-2028) ($MN)
32 Global Maritime Security Market Outlook, By Pollution Prevention and Response (PPR) Management (2020-2028) ($MN)
33 Global Maritime Security Market Outlook, By Security Management (2020-2028) ($MN)
34 Global Maritime Security Market Outlook, By Safety of Ship (2020-2028) ($MN)
35 Global Maritime Security Market Outlook, By Counter Piracy (2020-2028) ($MN)
36 Global Maritime Security Market Outlook, By Other Applications (2020-2028) ($MN)
37 Global Maritime Security Market Outlook, By End User (2020-2028) ($MN)
38 Global Maritime Security Market Outlook, By Marine & Construction (2020-2028) ($MN)
39 Global Maritime Security Market Outlook, By Cargos & Containers (2020-2028) ($MN)
40 Global Maritime Security Market Outlook, By Government Institutions (2020-2028) ($MN)
41 Global Maritime Security Market Outlook, By Shipping & Transportation (2020-2028) ($MN)
42 Global Maritime Security Market Outlook, By Oil & Gas (2020-2028) ($MN)
43 Global Maritime Security Market Outlook, By Other End Users (2020-2028) ($MN)
44 Global Maritime Security Market Outlook, By Threats and Vulnerabilities (2020-2028) ($MN)
45 Global Maritime Security Market Outlook, By Perimeter Security (2020-2028) ($MN)
46 Global Maritime Security Market Outlook, By Deep Security (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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