The maritime security global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Maritime Security Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The maritime security market size has grown strongly in recent years. It will grow from $26.88 billion in 2023 to $29.06 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to piracy threats, terrorist attacks on maritime targets, smuggling and Illicit trafficking, maritime disputes and conflict, global trade growth.
The maritime security market size is expected to see strong growth in the next few years. It will grow to $36.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increase in global trade and maritime transport activities, climate change impact, cybersecurity threats, geopolitical tensions, emerging maritime threats. Major trends in the forecast period include integration of artificial intelligence (AI), rapid adoption of unmanned system, focus on cybersecurity resilience, global collaboration and information sharing, environmental sustainability integration.
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Scope Of Maritime Security Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Maritime Security Market Overview
Market Drivers –
The rising maritime threats are expected to propel the growth of the maritime security market going forward. Maritime threats refer to a range of potential dangers, risks, or illegal activities that pose a hazard to maritime security, navigational safety, or the lawful use of the seas and oceans. It arises due to various factors, such as increased illegal, unregulated, and unreported (IUU) fishing, and intensifying pressure on ports. Marine security is used in maritime threats to protect lives, property, trade, infrastructure, safety, security, and sustainability of maritime operations and to promote the prosperity of coastal communities and nations. For instance, in 2022, according to the International Maritime Bureau’s (IMB), a Malaysia-based non-profit organization, there were a total of 115 incidents of piracy and armed robbery against ships in 2022. Furthermore, in August 2022, according to Homeland Security, the US-based department responsible for public security, the number of reported maritime cyber incidents increased by 68% from 2020 (28 total incidents) to 47 maritime cybersecurity incidents in 2021. Therefore, the rising maritime threats are driving the growth of the maritime security market.
Market Trends –
Major companies operating in the maritime security market are concentrating on new technological innovations, such as the vessel traffic management information system (VTMIS), to enhance maritime safety and efficiency. It is a state-of-the-art technology that integrates and links all assets in a port and marine environment, such as radar, CCTV, radios, meteorological systems, and radio direction finders. For instance, in March 2023, AD Ports Group, a US-based integrated business enabling global logistics trade organization, launched a vessel traffic management information system (VTMIS) across its UAE operations to enhance maritime safety. The VTMIS integrates and links all assets in a port and marine environment, providing real-time data and enhancing vessel-to-vessel and vessel-to-shore contact. It is designed to enhance safety, security, and efficiency in maritime traffic management. It acts as the central nervous system of waterways, monitoring vessel movements, providing crucial information, and facilitating coordination between various stakeholders.
The maritime security market covered in this report is segmented –
1) By Component: Solution, Service
2) By Security Type Outlook: Port And Critical Infrastructure Security, Vessel Security, Coastal Surveillance
3) By Service: Risk Assessment And Investigation, Consulting, Maintenance And Support, Training, Other Services
4) By Technology: Access Control, Detectors, Geographic Information Systems, Communications, Supervisory Control And Data Acquisition (SCADA), Screening And Scanning, Smart Containers, Surveillance And Tracking, Weather Monitoring
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Regional Insights –
Asia-Pacific was the largest region in the maritime security market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the maritime security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the maritime security market are Cobham plc, Rapiscan Systems, Raytheon Technologies, Airbus SE, Lockheed Martin, General Dynamics Corporation, Northrop Grumman Corporation, BAE Systems, Safran SA, Thales Group, L3Harris Technologies, Leonardo SpA, Leidos, Motorola Solutions Inc, Booz Allen Hamilton Inc, Elbit Systems, Rheinmetall AG, CACI International Inc, Teledyne Technologies, Macquarie Group Limited, Israel Aerospace Industries (IAI), Saab AB, Palantir Technologies, Cubic Corporation, Smiths Detection, OSI Systems Inc
Table of Contents
1. Executive Summary
2. Maritime Security Market Report Structure
3. Maritime Security Market Trends And Strategies
4. Maritime Security Market – Macro Economic Scenario
5. Maritime Security Market Size And Growth
…..
27. Maritime Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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