Global Ship Traffic Management Market Future Growth, Business Prospects, Forthcoming Developments By Forecast To 2027

Ship traffic management is used to determine and estimate myriad marine environments to offer safety to marine borders along with upgrading the marine environment. It is used to collect, store, process, and separate important data included in marine transportation. The purpose of traffic management is to ensure that no vessel arrives in a position that jeopardizes the efficiency and safety of overall traffic in the area due to insufficient resources.

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The global ship traffic management market is divided into six regions, such as North America, South America, Asia Pacific, Europe, the Middle East, and Africa.

Drivers:

Increasing concerns about marine security and increasing focus on port security is expected to propel growth of the global ship traffic management market over the forecast period. For instance, in April 2019, Singapore planned to launch a facility to develop digital technologies and decision-making tools used by maritime operators such as analysis of vessel routes, traffic hotspots prediction, and detection of potential collision situations. Moreover, Maritime and Port Authority of Singapore (MPA) signed five MOUs and two Agreements with local and international partners at the Singapore Maritime Technology Conference (SMTC).

Increasing investment in port construction and expansion, rising freight transport activities by sea, and maritime situational awareness and safety are also expected to augment the growth of the global ship traffic management market.

Restraint:

High cost of traffic management equipment and installation is expected to impede growth of the global ship traffic management market.

Regional Insights:

Asia Pacific is expected to witness significant growth in the global ship traffic management market due to increasing adoption of traffic management systems by port authorities in the region. For instance, in October 2020, The Ministry of Ports, Shipping and Waterways (India) announced a tie-up with IIT Chennai (India) for development of the software for Indian ports that will ensure safe navigation of ships. The Syama Prasad Mookherjee Port Trust (SPMPT), Kolkata, will soon put an indigenous software to use for its Vessel Traffic Services (VTS) and Vessel Traffic Management (VTM) System.

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Competitive Section:

Key players involved in the global ship traffic management market are Frequentis, Saab, Leonardo, Kelvin Hughes, Tokyo Keiki, Rolta India, Indra Sistemas, Leonardo, Thales Group, Transas, and Kongsberg Gruppen.

In February 2021, Saab and Abu Dhabi Ports signed a memorandum of understanding (MoU) to develop port surveillance and vessel traffic management technologies.

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