Maritime Security Market to Grow with a CAGR of 5.82% Globally through to 2028
Rising Maritime Threats and
Piracy, Increasing Maritime Trade and Shipping, Growing Maritime Terrorism
Concerns and Rising Concerns Over Illegal Fishing and Environmental Crimes are
factors driving the Global Maritime Security market in the forecast period
2024-2028.
According to
TechSci Research report, “Global Maritime Security Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Maritime Security Market stood at USD 30 billion in 2022 and is
anticipated to grow with a CAGR of 5.82% in the forecast period, 2024-2028. The increasing need to manage
complicated supply chain operations, improve sustainability across the marine
industry, increase trade and freight transport activities through the sea,
increasing need to raise awareness about maritime safety, and regulatory
compliances and standards are the main factors propelling the growth of the
maritime safety market. Additionally, the development of integrated solutions
to reduce maritime terrorism and piracy, as well as emerging opportunities
across untapped regional markets, are expected to present opportunities for
businesses operating in the maritime safety market. These innovative
technologies include RFID, GPS, AR, robotics, and Blockchain. However, there
are restraints that could impede the market's expansion for marine safety.
Browse over
market data Figures spread through 180 Pages and an in-depth TOC on
"Global Maritime Security Market”
The global
maritime security market is a vital component of the international efforts to
protect and secure the world's seas and oceans. As the vast and interconnected
network of global trade relies heavily on maritime routes, ensuring the safety
of these routes is of paramount importance. Maritime security encompasses a
wide range of measures aimed at safeguarding vessels, ports, coastal areas, and
critical maritime infrastructure from various threats. These threats include
piracy, terrorism, illegal fishing, environmental crimes, smuggling, and even
cyberattacks. The market for maritime security solutions and services has been
evolving in response to these challenges and trends, and it plays a pivotal
role in enhancing safety, promoting environmental sustainability, and
facilitating international collaboration. This article provides a comprehensive
overview of the global maritime security market, discussing its scope, key
components, drivers, challenges, and emerging trends.
The global
maritime security market encompasses a broad spectrum of measures,
technologies, and services designed to protect the maritime domain. This domain
includes oceans, seas, ports, and coastal areas, and it extends from the high
seas to territorial waters and port facilities. The primary components of the
maritime security market include: Advanced surveillance systems, such as radar,
sonar, and satellite imagery, are deployed to monitor vessel movements, detect
suspicious activities, and provide situational awareness. These technologies
play a critical role in preventing and responding to security threats. Physical
security measures involve access control, security personnel, and security
infrastructure to safeguard ports, vessels, and maritime infrastructure.
Technologies like biometrics and video analytics are used to control access
points effectively.
Secure
communication is essential for maritime security. Maritime authorities,
vessels, and port facilities rely on robust communication systems for
coordination and reporting. These systems ensure the timely transmission of
critical information. With the increasing digitalization of maritime
operations, cybersecurity has become a significant component of maritime
security. Cyber threats can disrupt navigation, communication, and vessel
systems, making cybersecurity a crucial consideration. Autonomous technologies,
including unmanned surface vessels (USVs), unmanned aerial vehicles (UAVs), and
autonomous underwater vehicles (AUVs), are being integrated into maritime
security operations. These systems enhance surveillance, reconnaissance, and
response capabilities.
Ports are vital
hubs of international trade, making them potential targets for various security
threats. Port security measures encompass access control, surveillance, and
cybersecurity to protect critical maritime infrastructure. Maritime security
efforts increasingly align with environmental conservation goals. Sustainable
and green technologies are being integrated into security solutions to minimize
environmental impact. International collaboration and information sharing among
maritime security stakeholders are essential for addressing transnational
threats and enhancing situational awareness.
The prevalence
of maritime threats, including piracy, armed robbery, and terrorism, poses a
significant driver of the maritime security market. Incidents of piracy in
regions like the Gulf of Aden and the Gulf of Guinea have underlined the need
for robust security measures. As maritime trade continues to expand, the
security of trade routes and the protection of vessels, cargo, and ports become
paramount. The growth of global trade fuels the demand for maritime security
measures. Maritime terrorism is a persistent threat, and incidents like the
2000 USS Cole attack and the 2008 Mumbai attacks highlight the importance of
maritime security measures to prevent and respond to such threats. Illegal
fishing, marine pollution, and poaching in protected marine areas are
challenges that require security measures to combat. Environmental protection
is increasingly integrated into maritime security efforts. The digitalization
of maritime operations exposes vessels and ports to cyber threats. The need for
cybersecurity solutions to protect navigation, communication, and vessel
systems drives the maritime security market.
Increasing focus
on the security of ports and critical maritime infrastructure involves the
deployment of advanced surveillance systems, access control, and cybersecurity
measures. Unmanned systems, including USVs, UAVs, and AUVs, are being
integrated into maritime security to enhance surveillance, reconnaissance, and
response capabilities. The trend of enhanced MDA involves the use of various
technologies to improve situational awareness, detect threats, and respond
effectively to incidents in the maritime domain. The adoption of green
technologies, such as electric propulsion and renewable energy sources, aims to
reduce the environmental impact of security operations and align maritime
security with conservation goals. International collaboration and information
sharing are becoming more common to address maritime security challenges,
allowing for coordinated responses to threats and incidents.
Major companies
operating in Global Maritime Security Market are:
- SAAB AB
- THALES Group
- Leonardo S.p.A
- Elbit Systems Ltd.
- Airbus SE
- BAE Systems plc
- Terma AS
- Westminster Group PLC
- Kongsberg Gruppen ASA
- Smith’s Group PLC
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“The global
maritime security market is a critical and evolving sector dedicated to
safeguarding the world's oceans, seas, and maritime infrastructure. Key
drivers, such as rising maritime threats, increased trade, and growing concerns
over piracy and environmental crimes, underscore the market's significance.
Challenges, including jurisdictional complexities and evolving cybersecurity
threats, demand innovative solutions and international collaboration. Emerging
trends, such as the integration of autonomous technologies and emphasis on port
security and critical infrastructure protection, are shaping the market's
future. Environmental sustainability, green technologies, and enhanced maritime
domain awareness are also gaining prominence, aligning maritime security with
conservation goals. Collaboration and information sharing among stakeholders
are central to addressing transnational threats. As the maritime industry
continues to expand, the global maritime security market will remain
indispensable in promoting safety, security, and environmental responsibility.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Maritime
Security Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Systems (Screening and Scanning, Communications,
Surveillance and Tracking), By Type (Port and Critical Infrastructure Security,
Vessel Security, Coastal Security), By Region, Competition, 2018-2028”,
has evaluated the future growth potential of Global Maritime Security Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Maritime Security Market.
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