Worldwide Maritime Security Industry to 2027: Players Include Honeywell, Thales, Smiths, Elbit Systems and Northrop Grumman Among Others

Dublin, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The "Maritime Security Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2027)" report has been added to's offering.

Estimated to showcase an impressive growth rate during 2021 - 2027, global maritime security market is all set to reach the revenue of around US$38 Bn toward the end of forecast year.

Companies Mentioned:

  • Honeywell
  • Thales Group
  • Smiths Group
  • Elbit Systems
  • Northrop Grumman
  • Raytheon Anschutz
  • Saab Group
  • BAE Systems
  • Airbus
  • Rolta

As marine industry continues to experience a significant rise in pirate attacks on ships, demand for effective marine safety measures also remains on an uptrend. A recently published report of the analyst suggests that the ongoing development of a global database on maritime piracy is likely to be among the most substantial factors boosting the growth of maritime security market in the near future.

Rapid expansion of marine businesses, and the subsequently swelling data gathered from the various sources across networks, users, endpoints, and applications will uphold the growth of maritime security market, says the report.

Unwavering growth in demand for maritime safety and security solutions, and a consistently expanding cloud user base are expected to offer a collective push to maritime security market.

The report says that through the period of projection, the market will receive a strong impetus from marine industry's constant effort toward streamlining of its existing procedures and enabling the transformation of supply networks.

This will create a stream of fresh commercial prospects, in turn boosting the significance of safety and security across industry. Maritime security market is thus projected to gain significantly from this scenario.

Key Insights and Trends Across Global Maritime Security Market

  • Global maritime security market to surpass the valuation of US$38 Bn through 2027
  • Security solutions account for over 3/5th of total demand
  • Port and critical infrastructure security contributes more than 33% of the market valuation
  • Security management remains the largest application area in maritime security market
  • North America, projected for a healthy growth outlook throughout projection period, spearheads

Security Management Key Application Area, Oil and Gas Industry Top End User in Maritime Security Market

With over 60% of share in total valuation of maritime security market, security solutions remain sought-after over services. In terms of the security type, security of ports and critical infrastructure will continue to retain dominance, capturing more than 1/3rd of the global market size. Application of maritime security solutions is expected to remain the highest in security management that registered a sizeable revenue share of over 40% in maritime security market in 2019.

The report also highlights the next key application areas, including coastal monitoring, counter privacy, and loss prevention and detection. The analysis of the major end users of maritime security solutions reveals that oil and gas industry will continue to be at the forefront, whereas shipping and transportation will follow.

Dominance of North America Prevails in Global Maritime Security Market

Accounting for more than 1/4th of the global maritime security market valuation, North America continues to represent the dominant regional pocket. Europe is also projected to remain a significant market, further followed by Asia Pacific.

The report highlights the fact that the North American market has been thriving on the back of effective, and successful implementation of maritime safety and security solutions across the most concerned industry verticals, as well as organisations. The market in North America is all set to exhibit a healthy 6.7% CAGR through 2027 end.

Key Topics Covered:

1. Executive Summary

2. Market Overview
2.1. Market Definitions
2.2. Market Taxonomy
2.3. Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.4. Value Chain Analysis
2.5. Porter's Five Forces Analysis
2.6. Covid-19 Impact Analysis
2.7. Key Patents

3. Global Maritime Security Market Outlook, 2019 - 2027
3.1. Global Maritime Security Market Outlook, by Components (US$ '000), 2019 - 2027
3.1.1. Key Highlights Solutions Services Professional Services Training and Consulting Risk Assessment and Investigation Support and Maintenance Managed Services
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Maritime Security Market Outlook, by Security Type, Value (US$ '000), 2019 - 2027
3.2.1. Key Highlights Port and Critical Infrastructure Security Coastal Surveillance Vessel Security Crew Security Cargoes and containers Safety Ship system and equipment (SSE) Safety Other Security Type (Yacht Security, Safety of marine installations, Shipyard security, and cyber security)
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Maritime Security Market Outlook, by System, Value (US$ '000), 2019 - 2027
3.3.1. Key Highlights Ship Security Reporting System Automatic Identification System (AIS) Global Maritime Distress Safety System (GMDSS) Long Range Tracking and Identification (LRIT) System Vessel Monitoring and Management System Other Systems (Automated Manifest System (AMS), and Automated Mutual Assistance Vessel Rescue System (AMVER)
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Maritime Security Market Outlook, by Application, Value (US$ '000), 2019 - 2027
3.4.1. Key Highlights Loss prevention and detection Security management Counter piracy Coastal monitoring Pollution Prevention and Response (PPR) management
3.4.2. BPS Analysis/Market Attractiveness Analysis
3.5. Global Maritime Security Market Outlook, by End User, Value (US$ '000), 2019 - 2027
3.5.1. Key Highlights Government Institutions Oil & Gas Marine & construction Shipping & Transportation Other End-Users (Yachts, Boat Owners, and Ship Agencies)
3.5.2. BPS Analysis/Market Attractiveness Analysis
3.6. Global Maritime Security Market Outlook, by Region, Value (US$ '000), 2019 - 2027
3.6.1. Key Highlights North America Europe Asia Pacific Latin America Middle East & Africa
3.6.2. BPS Analysis/Market Attractiveness Analysis

4. North America Maritime Security Market Outlook, 2019 - 2027

5. Europe Maritime Security Market Outlook, 2019 - 2027

6. Asia Pacific Maritime Security Market Outlook, 2019 - 2027

7. Middle East & Africa Maritime Security Market Outlook, 2019 - 2027

8. Competitive Landscape
8.1. Company Market Share Analysis, 2019
8.2. Company Profiles

9. Appendix

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