Maritime Security Market Expected To Cross USD 27,762.2 Million by 2024 at an Exponential CAGR of 7.08%| MRFR

Jul 2, 2019

Global Maritime Security Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player's Market Share Analysis, Competitive Landscape and Supply Chain Analysis.

pune, India - July 2, 2019 /MarketersMedia/ —

Maritime Security Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By System (Screening and Scanning, Communications, Surveillance and Tracking, Access Control and Detectors), Threats and Vulnerabilities (Deep Water Security and Perimeter Security), Application (Port and Shipyard, Vessel Security and Coastal Surveillance) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2024

Maritime security focuses on the safety of ports, vessels, and other shipping infrastructure from treason, sabotage, and terrorism. Maritime security involves the use of a single system or a combination of systems such as screening and scanning, communications, surveillance and tracking, access control, and detectors. The systems are used to prevent deep water threats and for perimeter protection.

The key players in the global maritime security market are BAE Systems (UK), Elbit Systems Ltd (Israel), ESC Global Security (Estonia), Harris Corporation (US), Honeywell International Inc. (US), Kongsberg Maritime AS (Norway), Leonardo SpA (Italy), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Raytheon Company (US), Saab AB (Sweden), Signalis (France), Sonardyne (UK), TERMA (Denmark), Thales Group (France), and Westminster International Ltd (UK).

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Key Developments

• In February 2019, Thales Group signed a contract with the Netherlands Defense Materiel Organization (DMO). Thales is developing an above water warfare system (AWWS) for the Royal Netherlands Navy.

• In October 2018, Kongsberg Maritime partnered with KPMG International Cooperative for the latter’s maritime segment-focused cybersecurity solutions.

• In July 2018, Leonardo SpA launched a geospatial maritime security platform called SEonSE—Smart Eyes on the Seas. The platform uses cloud computing and advanced big data analytics for real-time accessibility.

• In March 2016, Thales Group acquired the digital identity and security firm Gemalto for USD 5.6 billion. With this acquisition, Thales Group expanded its cybersecurity and other security segments.

• In May 2017, Northrop Grumman Corporation presented two maritime security innovations that would assist defense personnel in navigating highly data-driven systems to detect serious threats to their forces instantly.

Segmental Analysis

The global Maritime Security Market has been segmented based on system, threats and vulnerabilities, and application.

By system, the global maritime security market has been classified as screening and scanning, communications, surveillance and tracking, access control, and detectors. The surveillance and tracking segment is projected to dominate the market with a valuation of USD 9,195.4 million in 2018 and reach USD 14,053.2 million by 2024. Surveillance and tracking systems include ship navigation, tracking, and surveillance systems which help to pinpoint the exact location of ships besides offering navigational statistics and surveying of ports. These systems also help in sending and receiving real-time data between ships or between ships and the shore. The communications segment is expected to exhibit a CAGR of 6.95% during the forecast period.

Based on threats and vulnerabilities, the global maritime security market has been divided into deep water security and perimeter security. The deep-water security segment is expected to lead the market with a value of USD 11,713.4 million in 2018 and reach USD 17,084.8 million by 2024. The deep water security systems provide both underwater and above water perimeter protection. They protect waterside perimeters from intruders such as speed boats, floating explosive packages, divers, and other water-based intruders. The perimeter security segment is expected to register the highest CAGR of 8.06%during the forecast period.

By application, the global maritime security market has been classified as port and shipyard, vessel security, and coastal surveillance. The vessel security segment is projected to dominate the market with a valuation of USD 8,627.0 million in 2018and reach USD 12,551.3 million by 2024. The increasing threat of cyberattacks and hijacking has led to a rise in the demand for security systems for vessels. The coastal surveillance segment is expected to exhibit a CAGR of 7.83% during the forecast period.

Regional Analysis

The global maritime security market has been segmented, by region, into North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America.

The North American market was the largest with a value of USD 7,266.2 million in 2018. This is due to the increasing seaborne trade and growing number of naval vessels in the region. The market in North America is expected to reach USD 10,907.8 million by 2024 at a CAGR of 7.01% during the forecast period.

Europe is expected to be the second-largest market during the forecast period. The regional market is expected to reach USD 7,329.2 million by 2024 at a CAGR of 6.44%, while Asia-Pacific is projected to be the third-largest market during the review period. The market in Asia-Pacific is expected to reach USD 7,021.1 million by 2024 at a CAGR of 8.24% during the review period.

Key Questions Addressed by the Report

• What was the historic market size (2018)?
• Which segmentation (System/ Threats and Vulnerabilities/Application) is driving market growth?
• What will be the growth rate from 2019 to 2024?
• Who are the key players in this market?
• What are the strategies adopted by the key players?

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List of Tables

Table 1 List of Assumptions
Table 2 Major Patents Granted for Maritime Security (15 May 2010–15 May 2019)
Table 3 Global Maritime Security Market, by System, 2016–2024 (Usd Million)
Table 4 Screening and Scanning: Global Maritime Security Market, 2016–2024 (Usd Million)
Table 5 Screening and Scanning: Global Maritime Security Market, by Region, 2016–2024 (Usd Million)
Table 6 Communications: Global Maritime Security Market, 2016–2024 (Usd Million)
Table 7 Communications: Global Maritime Security Market, by Region, 2016–2024 (Usd Million)
Table 8 Surveillance and Tracking: Global Maritime Security Market, 2016–2024 (Usd Million)
Table 9 Surveillance and Tracking: Global Maritime Security Market, by Region, 2016–2024 (Usd Million)
Table 10 Access Control: Global Maritime Security Market, 2016–2024 (Usd Million)

Continued..........

List of Figures

Figure 1 Market Synopsis
Figure 2 Global Maritime Security Market: Market Attractiveness Analysis
Figure 3 Global Maritime Security Market Analysis, by System
Figure 4 Global Maritime Security Market Analysis, by Threats and Vulnerabilities
Figure 5 Global Maritime Security Market Analysis, by Application
Figure 6 Global Maritime Security Market Analysis, by Region
Figure 7 Global Maritime Security Market: Market Structure
Figure 8 Key Buying Criteria for Maritime Security Systems
Figure 9 Research Process of Mrfr
Figure 10 North America: Market Size & Market Share, by Country, 2018 Vs 2024

Continued.........

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Organization: Market Research Future
Address: Market Research Future, Office No. 524/528, Amanora Chambers, Magarpatta Road, Hadapsar, Pune -411028, Maharashtra, India
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/maritime-security-market-1344

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Release ID: 88892025

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