Maritime Security Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

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The global market value of the maritime security market was valued at USD 25.2 billion in 2022, and a CAGR of 7.5% is expected during the forecast period. Maritime security refers to the protection of vessels from both internal and external threats like piracy, terrorism, robbery, pollution, and illegal fishing. Increasing demand for national security, economic development, and human security.

These are the actions of naval forces to fight against hijacking, slavery, and other illegal activities. Increasing demand for national security in all aspects is driving growth in this market significantly. Increasing maritime trade, rising security threats, smuggling, and illegal fishing are the factors driving the growth of the market significantly.


Impact of Covid-19

Lockdowns and restrictions on movement have disrupted maritime operations, leading to challenges in maintaining security measures, such as surveillance and patrols. Reduced crew numbers on ships and limited port operations have made vessels more vulnerable to security threats, including piracy and illegal activities. The government and maritime organizations have redirected resources towards managing the pandemic issues.

With increasing reliance on digital technologies for remote operations and communication, there is a heightened risk of cyberattacks on maritime infrastructure. The economic downturn resulting from the pandemic has strained budgets for security investments, potentially delaying initiatives in the maritime sector.

Growth Drivers

The proliferation of piracy, illegal fishing, smuggling, terrorist activities, and other illicit activities pose significant security risks to maritime assets, driving the demand for advanced security solutions. Stringent regulations and mandates imposed by the government and international bodies compel maritime stakeholders to invest in security technologies and services to ensure compliance and mitigate risks.

Innovation in surveillance systems, access control, cyber security, biometrics, and autonomous technologies enables more effective and efficient maritime security operations, driving adoption and investment in advanced solutions. Increasing digitization and connectivity of maritime systems and operations heighten the risk of cyber security solutions tailored to the maritime sector. Insurance providers often require vessels and maritime operators to implement adequate security measures to mitigate risks, incentivizing investments in maritime security solutions.

The increasing trend of media coverage and involvement in social media is an inspiring factor behind the growth. Increasing pressure on governments and industry stakeholders to bolster security measures is driving the growth of the market significantly. Political tensions and instability in various regions are escalating maritime security threats, leading to increased investment in security measures, which is driving growth in the market significantly.

Segmentation

Systems

·         Screening and Scanning

·         Communications

·         Surveillance and Tracking

·         Other Systems

Type

·         Port and Critical Infrastructure Security

·         Vessel Security and Coastal Security

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Maritime Security Market Type Segmentation

On the basis of the type The maritime security market is segmented into port and critical infrastructure security, vessel security, and coastal security. Port and critical infrastructure security is the leading segment and is expected to dominate during the forecast period. Ports are vulnerable to various security threats, including terrorism, smuggling, piracy, and illegal immigration. Port security measures typically include access control, perimeter fencing, surveillance systems, security patrols, and screening of cargo and personnel.

Technologies like biometrics and AI-based analytics are increasingly being used to enhance port security and streamline operations. As ports become more digitized and interconnected through systems such as container tracking, cargo management, and port operations, cyber security becomes a critical concern. Protecting against cyber threats is a major concern to prevent disruptions to port operations. Surveillance and tracking include technologies like automatic identification systems and long-range identification and tracking systems.


These systems use satellite and terrestrial networks to transmit speed and course information, aiding in maritime domain awareness. Radar and sonar technologies provide detection and tracking capabilities for vessels, small boats, and underwater threats. The radar system detects surface vessels and objects. A sonar system is used for underwater surveillance, detecting submarines, mines, and other obstacles. Closed-circuit television and video surveillance cameras are deployed in ports. Critical infrastructure within ports, such as bridges, locks, and storage facilities, requires protection from physical and cyber threats.

Resilience measures, such as redundancy and backup systems, help ensure continuity of operations in case of disruptions. Effective port security often requires collaboration between government agencies, port authorities, companies, terminal operators, and private security firms. Joint exercises and coordination mechanisms help improve situational awareness and response capabilities to security threats. In order to ensure the safety and efficiency of maritime trade, the security of ports and critical infrastructure is essential.

Regional Outlook

On the basis of the regions, the maritime security market is segmented into 5 types: Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading region and is expected to dominate during the forecast period. There is an increasing need to provide superior and advanced technology to avoid various hazards like smuggling, piracy, and terrorism. The increasing need to identify and vanquish these threats is the key factor behind the significant growth in the market.

European countries like Germany, France, the UK, Russia, Ukraine, and Nordic countries are incorporating maritime security solutions into their markets. The Asia-Pacific region experiences high levels of maritime trade and is prone to piracy, illegal fishing, smuggling, and terrorism. Asian countries like China, India, Japan, South Korea, Vietnam, and other Asian countries are also experiencing growth in this sector. Countries like China, Japan, India, and South Korea are investing in maritime surveillance technologies.


The presence of most of the key players in North America and Europe is the main reason behind the growth in the market. With the rising need to identify and eliminate the potential threats of smuggling, piracy, and terrorist activities, countries from the Middle East and Latin America are also adopting maritime security measures. The United Arab Emirates, Saudi Arabia, South Africa, Egypt, Brazil, and Argentina are incorporating these measures into their markets. Heightened public awareness of maritime security threats, fueled by media coverage of incidents and geopolitical developments, increased pressure on government and industry stakeholders to bolster security measures.

Key Players

·         Augusta Westland

·         FLIR Systems

·         Lockheed Martin

·         Northrop Grumman

·         BAE Systems

·         Kongsberg

·         OSI Maritime Systems

·         Terma and Elbit Systems

·         Thales Group

·         AAI

·         Other Players

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