Iot Is The Fastest Growing Segment Fueling The Growth Of The Global Maritime Security Market
The global Maritime Security
Market is estimated to be valued at US$
24961.1 Mn in 2023 and is expected to exhibit a CAGR of 10.2% over the forecast period 2023 to 2030, as highlighted
in a new report published by Coherent Market Insights.
Market Overview:
The Maritime Security Market offers integrated solutions and security services
for monitoring vessel traffic, protecting ports and infrastructure, screening
passengers and crews, and responding to emergencies or sabotage attempts. With
increasing risks of terrorism, piracy and vessel tracking becoming important
for safety, effective maritime security systems have become vital.
Market key trends:
One of the major trends in the Maritime Security Market is the growing adoption
of Internet of Things (IoT) technologies. IoT enables monitoring of vessels, cargoes
and sea areas through integration of sensors, communication networks and data
analytics tools. Devices such as radar sensors, GPS systems, weather sensors
and CCTV cameras can detect potential threats in real-time and assist in
response. Integration of underwater sensors, drones and autonomous surface and
underwater vehicles equipped with IoT is enhancing surveillance capabilities
and security operations in the maritime domain. Advancement in IoT based
solutions is expected to positively influence the growth of the Maritime
Security Market during the forecast period.
Segment
Analysis
Maritime Security Market is bifurcated into product, service, end-use, and
geography. By product, the maritime security systems segment dominates other
segments due to the adoption of advanced security systems such as automated
identification systems, physical barriers, long-range identification and
tracking systems, surveillance and tracking systems, tracking and positioning
system, etc. by maritime agencies and commercial ships to ensure safety.
Key Takeaways
The Global
Maritime Security Market Size is expected to witness high growth,
exhibiting a CAGR of 10.2% over the
forecast period, due to increasing transnational threats at sea from piracy and
terrorism.
Regional analysis
Regionally, Asia Pacific dominate other regions and is expected to be the
fastest growing region owing to increased investments by countries such as
China, India, and Japan in maritime security to curb increased incidences of
piracy.
Key players
Key players operating in the Maritime Security Market are Leidos Holdings Inc.,
SAAB AB, Nuctech Company Limited, Thales Group, OSI Systems Inc., Leonardo SpA,
Smiths Group PLC, Elbit Systems Ltd., Kongsberg Gruppen ASA, Airbus SE,
Westminster Group PLC, BAE Systems PLC, and Terma AS.
For More Insights, Read: https://www.newsstatix.com/maritime-security-market-size-share-and-growth-forecast-2023-2030/
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