Press release
Maritime Safety System Global Market Expected to Reach $25.93 Billion With a CAGR of 5.2% By 2028 | Key Players: Elbit Systems Ltd., Saab AB, OSI Maritime Systems Ltd., BAE Systems PLC, Thales Group
Maritime Safety System Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Maritime Safety System industry. This report on Maritime Safety System market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The maritime safety system market size has grown strongly in recent years. It will grow from $19.85 billion in 2023 to $21.18 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to international maritime regulations, growth in global shipping, maritime accidents, rising concerns about piracy, environmental protection. The maritime safety system market size is expected to see strong growth in the next few years. It will grow to $25.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
Request for Free Sample Of Maritime Safety System Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=6773&type=smp
Key Market Players:
Raytheon Anschutz GmbH, Honeywell International Inc., Elbit Systems Ltd., Saab AB, OSI Maritime Systems Ltd., The Progressive Corporation are prominent players in the Maritime Safety System industry.
Market Drivers:
The growing maritime trade and transportation are expected to propel the maritime safety system market. The increased well-being of consumers leads to increased production. The lower emissions on long voyages, maritime trade, and transportation assist producers in remaining competitive. The volume of products moved on a single trip is greater, making sea transport more cost-effective and environmentally friendly than other methods of shipping goods over long distances. For instance, in May 2021, according to the Ministry of External Affairs, an India-based government agency responsible for implementing foreign policy, approximately 95% of India's trade by volume and 70% by value are transported by maritime. Additionally, the Ministry of Shipping announced the allocation of Rs. 1,702.35 crores (USD 233.48 million) in the Union Budget 2020-21 to promote merchant ship flagging in the nation, and subsidy money worth Rs. 1,624 crores (USD 222.74 million) to Indian shipping businesses.
More information about the Global Maritime Safety System Market Report -
https://www.thebusinessresearchcompany.com/report/maritime-safety-system-global-market-report
Market segments for Maritime Safety System include:
1) By System: 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
2) By Application: Loss prevention and detection, Security management, Counter piracy, Coastal monitoring, Safety of ship, Pollution Prevention and Response (PPR) management
3) By End User: Government Institutions, Oil & Gas, Marine & construction, Shipping & Transportation, Cargos & containers, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
Check Out The Maritime Safety System Market Report's Discount Options Here -
https://www.thebusinessresearchcompany.com/Discount?id=6773&type=discount
Browse More Reports:
Sea based Defense Equipment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/sea-based-defense-equipment-global-market-report
Marine Lubricants Global Market Report 2024 -https://www.thebusinessresearchcompany.com/report/marine-lubricants-global-market-report
Battle Force Ships Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/battle-force-ships-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "
Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Maritime Safety System Global Market Expected to Reach $25.93 Billion With a CAGR of 5.2% By 2028 | Key Players: Elbit Systems Ltd., Saab AB, OSI Maritime Systems Ltd., BAE Systems PLC, Thales Group here
News-ID: 3353316 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Maritime
Emerging Maritime Threats Fuel Growth in the Maritime Security Market: A Signifi …
The Maritime Security Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Maritime Security Market Size and Projected Growth Rate?
In the past few years, there has been a robust growth in the size of the maritime security market. It is expected to expand…
Elevated Maritime Trade And Transportation Fueling The Maritime Safety System Ma …
The Maritime Safety System Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Maritime Safety System Market?
The market size of the maritime safety system has been on a significant incline over the past few years. It is projected to…
Maritime Drone Market Size, Growth Opportunities 2031 by Key Manufacturer ASV Gl …
USA, New Jersey: According to Verified Market Reports analysis, the global Maritime Drone Market size is reached a valuation of USD 2.5 Billion in 2023, with projections to achieve USD 7.1 Billion by 2031, demonstrating a CAGR 14.2% from 2024 to 2031.
What is the current state and growth outlook of the Maritime Drone Market?
The maritime drone market is experiencing rapid growth due to increased demand for autonomous solutions in the…
Prominent Maritime Digitization Market Trend for 2025: Maritime Digital Transfor …
What Are the Projected Growth and Market Size Trends for the Maritime Digitization Market?
The maritime digitization market has grown rapidly in recent years. It is projected to grow from $200.21 billion in 2024 to $220.27 billion in 2025, at a compound annual growth rate (CAGR) of 10.0%. The growth is driven by cultural shifts, industry mindset changes, demand for real-time monitoring, global trade optimization, efficiency and cost reduction needs, and…
Maritime Analytics Market | ABB Ltd, Inmarsat PLC, Itransition, MP Maritime Anal …
The global maritime analytics market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the maritime analytics market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
Maritime Logistics Market Is Thriving Worldwide | Milaha, BMLG, Noatum Maritime
The latest launched report on Worldwide Maritime Logistics Market delivers a transformation framework to understand how megatrends affect industry growth, taking into account the major disrupting forces creating uncertainties for every organisation in the Worldwide Maritime Logistics. Based on these outcomes, HTF MI outline plan for these volatile scenarios considering companies such as Wilhelmsen, Maritime Group Ltd., MTL, PRIME MARITIME LOGISTICS COMPANY, UCB Maritime Logistics, Algeposa, NaviGate, GAC, MNesty, NorSea…
