Authored By: Sarah
19 Jun 2024

 Maritime Security Market to grow by USD 3629.3 million between 2024-2028

According to a research report “ Maritime Security Market” by Type (Deepwater security, Perimeter security) Technology (Surveillance and tracking, Screening and scanning, Communications, Other systems) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3629.3 million at a CAGR of about 3.2% during the forecast period. The maritime security market is experiencing significant growth due to escalating risks to coastal security and territorial integrity worldwide. Marine borders hold strategic importance in national security, global trade, immigration, and emigration. In nations with extensive coastlines, the utilization of sophisticated airborne platforms for patrolling territorial waters is increasingly prioritized. Advanced maritime security systems offer effective threat detection, identification, and response capabilities. For instance, the oil rigs in the Gulf of Guinea, a piracy hotspot in Western Africa, underscore the necessity for robust maritime security solutions..

Browse market data tables, figures, and in-depth TOC on “Maritime Security Market” by Type (Deepwater security, Perimeter security) Technology (Surveillance and tracking, Screening and scanning, Communications, Other systems) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028.

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By Type, the Deepwater security segment is projected to dominate the market size in 2024.

In the maritime security market, the surge in naval security requirements is fueling the adoption of advanced technology for surveillance. This trend is particularly noticeable in the marine radar sector, where sophisticated systems, such as automated multi-function and multi-band radar, are driving demand for dedicated surveillance radars. The expanding defense economy is further boosting market growth during the forecast period.

By Technology, Surveillance and tracking  segment is expected to hold the largest market size for the year 2024.

In the vast maritime domain, encompassing over 70% of the earth's surface, geopolitical tensions and territorial disputes have intensified the need for robust maritime security solutions. With naval forces prioritizing mid-sea attack and maritime border defense capabilities, the demand for advanced maritime security systems is surging. Notably, the South China Sea's territorial disputes have heightened safety concerns for bordering nations like Taiwan, Japan, the Philippines, and Singapore. Consequently, the presence of warships from various countries in the region is projected to fuel market growth in the maritime security sector throughout the forecast period.

North America is forecasted to hold the largest market size by region in 2024.

In the maritime industry, ensuring security is a top priority. The maritime security market caters to this need, providing solutions for protecting vessels, ports, and cargo from piracy, terrorism, and other threats. This market encompasses technologies such as surveillance systems, maritime security services, and naval forces. Investing in robust maritime security measures is essential for safeguarding valuable assets and maintaining business continuity.

The Maritime Security Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Airbus SE
  • BAE Systems Plc
  • Elbit Systems Ltd.
  • HENSOLDT AG
  • Honeywell International Inc.
  • Kongsberg Gruppen ASA
  • L3Harris Technologies Inc.
  • Lockheed Martin Corp.
  • MIND TECHNOLOGY INC.
  • Northrop Grumman Corp.
  • RTX Corp.
  • Saab AB
  • Safran SA
  • Sonardyne International Ltd.
  • SPX Technologies Inc.
  • Teledyne Technologies Inc.
  • Terma AS
  • Thales Group
  • The Boeing Co.
  • Ultra Electronics Holdings Plc
.

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Research Analysis Overview

In the maritime security market, situational awareness is paramount to mitigating potential threats such as security breaches and unauthorized activities. Coastal areas, including seaports and maritime trade routes, are particularly vulnerable to illegal fishing, trafficking, smuggling, and pirate attacks. Proactive procedures, including drone surveillance, inspection, monitoring, and screening, are essential to maintaining vessel security. Other technologies, such as surveillance towers equipped with multisensor cameras and custom electronics, enhance port security and transportation safety. Warships and border patrol agencies play a crucial role in securing global freight against piracy and illegal immigration. The maritime security market continues to evolve, incorporating advanced technologies to address emerging threats and ensure the protection of critical infrastructure and global commerce.

Market Research Overview

The Maritime Security Market encompasses a range of technologies and solutions designed to safeguard coastal infrastructure from various threats. These include antennae for satellite and radar systems, security fencing, and cybersecurity systems for vessel tracking and surveillance. Resource limitations have led to the development of proactive procedures such as drone surveillance, inspection, and monitoring. Key areas of concern include irregular crossings in the central Mediterranean, refugee movements, and geopolitical tensions that can lead to transnational crime, armed robbery, and security breaches. Situational awareness is crucial for combating potential threats, and wideangle, thermal, and fisheye cameras are essential tools for Coastal Surveillance and Vessel Security. Other Technologies like multisensor cameras, custom electronics, and port security systems are also integral to the market. Global freight, maritime trade, smuggling, illegal immigration, and port infrastructure are additional sectors that require robust security measures, including warships like frigates, destroyers, submarines, and vessels such as oiler, submarine tender, and INS Imphal. Cybersecurity risks are a growing concern, necessitating advanced imagery data analysis and combat management systems.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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