Press Release

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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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

Aerospace and Defense | Jan, 2024

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.

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