Maritime Security Market Growing at 6.7% CAGR from 2020 to 2030

April, 2019- Market Research Future research Report on Maritime Security Market

The key market players featuring in the global maritime security market are as follows: BAE Systems, Elbit Systems Ltd., Harris Corporation, Honeywell International Inc., Kongsberg Gruppen ASA, Leonardo S.p.A, Northrop Grumman Corporation, Raytheon Anschütz GmbH, Saab Group, and Signalis SA. These companies focus in the provision of effective maritime security systems and solutions.

Maritime Security Market Overview

Maritime Security Market Size Is Projected To Reach Approximately USD 33.3 billion by 2030, at a CAGR of 6.7% from 2020 to 2030. 

The demand for surveillance systems is growing continuously across the world to forbid the entry illegal immigrants into countries. Surveillance systems such as CCTV, intruder alarms, and access control. Other developments include the 360-degree panoramic and thermal infrared cameras, which are capable to operate even in complete darkness. These will lure investments into the market during the forecast period.

The communications systems used by the maritime security agencies are conventional analogy systems, which operates in Very High Frequency (VHF) band. These systems are now being replaced by advanced systems such as joint tactical radio and defence satellite communication systems. The development of communication monitoring systems will enable the maritime security operations to identify criminals and illegal activities in the open sea. In addition, the increased use of automatic identification systems for maritime security will help the agencies to avoid collision between vessels.

Maritime security operations cover several missions ranging from countering shipping of illegal goods to countering piracy. It also involves in the prevention of embargo situations and human trafficking. These operations cannot be fulfilled with one intelligence acquisition scheme and hence require various applications and technological advancements to effectively support them. Very small satellites are increasingly used in maritime security operations to track maritime vessels.

Maritime Security Market – Competitive Analysis

The global maritime security market is highly competitive. The Companies in this market compete based on cost, quality, reliability, and aftermarket services. To survive and succeed in such an intensely competitive environment, it is crucial for the companies to provide cost-effective and high-quality services.

Companies have to focus on global footprint network, in house manufacturing capabilities, product offerings, investment in R&D, and a strong client base, to gain an edge over competitors. Global economic recovery, R&D, and investments by the industry players provide opportunities for defence industry players to compete and grow.

The market is continuously meeting the demand from maritime customers for automation, persistent surveillance, and tracking of targets. The function of surveillance radar is to detect small targets on the ocean surface. The use of these radars were crucial during the Cold War between the U.S. and Russia, when the U.S. Navy needed to detect the small targets such as Russian periscopes.

Industry/ Innovation/ Related News:

January 2018 –

SAAB Company is expanding its activities related to defence and security in Finland and established a development centre.

January 2018 –

The United States Navy signed a contract with BAE Systems for modernization of guided missile destroyers USS Oscar Austin and USS Howards.

December 2017 –

Applied Composites AB (ACAB) was acquired by SAAB. This acquisition is expected to provide technologies for development of ground combat weapon system and advanced radomes.

December 2017 –

United States Army security forces Assistance Brigades (SFABs) selected the Harris Corporation for the reliability and combat proven communications systems.

June 4, 2015-

Launches of NATO ISR aircraft, a broad-area long-endurance unmanned aerial system used in a variety of ISR missions, which includes border security, troop support, and crisis management.

Maritime Security Market – Segments

For the convenience of the report and enhanced understanding; the Maritime Security market is segmented in to three key dynamics.

Segmentation by Systems: Screening & Tracking, Detectors, Access Control, Communication, and Surveillance

Segmentation by Categories: Port & Shipyard, Vessel Security, and Coastal Surveillance.

Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Maritime Security Market Regional Analysis

The maritime disputes in the South China Sea have led many countries such as Vietnam, Philippines, Brunei, Malaysia, and Indonesia to deploy small satellites for the tracking of maritime vessels. In the annual ASEAN Defense Ministers Meeting (ADDM), these nations decided to deploy a constellation of satellites, which will frequently generate images of the Southeast Asia waterways.

High movement of goods, legal rules and regulations, and the threats on the seaborne activities majorly reflect the need for giving security in the maritime sector. Due to this reason, the governments around the worlds have shown there major interest in securing their domestic as well as neutral waters. The EU Maritime Security Strategy Action Plan, U.K. National Strategy for Maritime Security and Asia-Pacific Maritime Security Strategy are offered by the secretary of State for Defense, Council of European Union, and the Department of Defense of the U.S. respectively, in order to secure security.

All the strategies keep on getting updated so as to maintain the changing threat and risk scenario, presenting demand for a much strong security structure.