Press Release

Asia-Pacific To Register Highest CAGR in Global Maritime Security Market During Forecast Period

Rising number of threats and increasing government initiatives for maritime security are expected to drive global maritime security market during forecast period

According to TechSci Research report, Global Maritime Security Market By Categories, By Service Offered, By Technology, By End-User, By Region, Competition, Forecast & Opportunities, 2024, global maritime security market is expected to register a CAGR of around 7% during the forecast period on account of increasing incidences of marine conflicts, piracy at the sea and drug & human trafficking through the waterways. Additionally, increasing awareness regarding maritime safety coupled with implementation of regulatory standards & guidelines are the other factors that are positively influencing the growth of global maritime security market through 2024. As many countries across the globe are attempting to gain power and control over maritime assets like underwater oil reserves and other offshore resources, geopolitical disputes are gradually increasing. On account of these growing disputes worldwide, the countries are focusing more towards constant and efficient maritime surveillance. The International Maritime Organization helps and guides the member governments for the safety of life on the sea and for conserving marine ecological balance.

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Global maritime security market can be segmented based on Categories, Service Offered, Technology, End-User and Region. Considering the technology, the market can be segmented into screening & scanning, communications, surveillance & tracking, detectors and others. Surveillance & Tracking segment is anticipated to witness high traction in the upcoming years which can be attributed to the need to increase the security of ports and war ships from pirates, terrorists or any hostile attacks, and to avoid collisions.

SAAB Group, Thales Group, Sonardyne International Ltd., Bae Systems Inc., Raytheon Anschütz GmbH, Northrop Grumman Corporation, Telecommunication Systems, Inc., Honeywell International Inc., Elbit Systems Ltd, Harris Corporation among others are the leading players operating in global maritime security market. Increasing unethical marine acts and threats related incidents across the world are encouraging vendors to offer enhanced maritime safety solutions and services.

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“Regionally, the maritime security market is gaining traction and expanding to various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America dominated the market until 2018, this can be mainly attributed to extensive marine travel and freight activities in the developed economies of the US and Canada. Furthermore, Asia-Pacific region is expected to witness the highest growth during the forecast period owing to the rising adoption of marine transport and increasing sea crimes in the Arabian Sea and the Indian Ocean.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Maritime Security Market By Categories, By Service Offered, By Technology, By End-User, By Region, Competition, Forecast & Opportunities, 2024 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

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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