Rising Concern Over Maritime Surveillance Led by Smooth Shipping and Seafarer Safety

The global maritime surveillance industry generates $22,254.6 million revenue, and it is projected to rise at a rate of 6.8% in the coming future and contribute to $40,386.4 million in 2030. It is due to factors such as growing maritime threats, including piracy and strict regulations for international sea trade.

Japan and China are the major five ship-owning economies that constitute 50% of the world's tonnage, acquired by companies based in Asia, that propels the maritime safety solutions industry in the APAC region.

Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/maritime-surveillance-market/report-sample

Under the technology subsegment, surveillance and tracking dominate the industry, accounting for 32.3% share, led by types of tracking software used for location monitoring and providing crucial alerts for the protection of ports, vessels, and shipping infrastructure.

In addition, numerous countries in Europe and North America are adopting cutting-edge maritime security technologies. APAC is the major driver of the maritime surveillance industry, led by rising trade and maritime tensions. Ports utilize a massive range of cameras, such as fisheye, infrared, and pan-tilt-zoom cameras. For example, the Long-Range Tracking and Identification System is used by the International Maritime Organization for instantly tracking ships.

The International Maritime Organization has developed a standard framework for smooth shipping activities and causes no harm to seafarers. For example, the IMO implemented GMDSS, which is a shore-to-shore, and ship-to-ship communications, for the identification of sailors and vessels in distress.

The screening and scanning category holds the next-significant share of the industry, amounting to $5470.4 million revenue. These systems are crucial at ports, as they receive around 90% of the goods imported, and exported globally. Considering such a massive volume, it becomes crucial to ensure the legitimate ones are exported, due to the growing incidences of the exploitation of shipping containers due to arms, drugs, and human trafficking.

Moreover, there are several mandates for the complete scanning of U.S.-bound maritime cargo for nuclear and radiological threats. U.S. CBP has taken various measures to ensure the protection of cargo containers after the terrorist attacks of 9/11. The CBP personnel are dispatched abroad for collaborating with foreign officials to detect and scan the risk-posing containers before they are loaded onto vessels.

APAC is projected to experience significant growth, rising at a rate of 7.2%, and captures a massive share in the coming future, led by the rising demand for detecting maritime hazards and ensuring communication with all officials of the maritime sector, with advanced software.

Browse full report at: https://www.psmarketresearch.com/market-analysis/maritime-surveillance-market

In addition, China updates all maritime-related military and law enforcement sectors, along with missiles, coast guard, surveillance technology, and aircraft. It is developing cutting-edge technology to counter American military technologies and deter outside engagement.

Still, China is majorly investing to prepare to face the possible conflict with Taiwan. It is also making efforts to prepare for potential problems in the South and East China Seas, which fuels the demand for maritime safety systems.

North America is projected to experience substantial growth in the maritime surveillance industry, in the coming future, as regional governments are concerned over maritime safety. Therefore, the maritime surveillance industry is growing due to the rising concern over smooth shipping and seafarer safety.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blogs: https://worldwideanalysistrends.blogspot.com/
Follow Us: https://www.linkedin.com/company/pnsintelligence/

This release was published on openPR.