Maritime Security Market Share, Global Demand, Growth, SWOT Analysis, Business Development and Sales Forecast 2024-2031 | Leidos Holdings Inc., SAAB AB, Nuctech Company Limited

Maritime security systems are crucial for safety and protection of ports, ships, and crew. These systems include technologies like access control, surveillance, screening, tracking and monitoring solutions.

Market Dynamics:

The maritime security market is expected to witness significant growth over the forecast period owing to increasing need for port and vessel security due to rising geopolitical tensions and threats of piracy and terrorism. According to the UNCTAD report, around 90% of global trade is carried by sea. This large volume of maritime trade requires thorough screening and monitoring solutions to avoid security threats. Furthermore, growing adoption of smart technologies like AI and IoT enabled devices for real-time vessel tracking and advanced screening of cargo is also fueling market growth.

The global maritime security market size was valued at USD 20,554.2 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030.

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Maritime Security Market Key Market Drivers

Growing Piracy and Armed Robbery at Sea

Piracy and armed robbery at sea have significantly increased over the past decade, especially in the Gulf of Guinea region of West Africa and Southeast Asia. Attacks can range from petty theft to hijacking and kidnapping of crews for ransom. This has forced maritime companies and vessel owners to invest heavily in security systems, armed guards, and military/navy protection to ensure safety of crew and cargo. The rising threat levels is a major factor driving the need for advanced maritime security solutions.

Increasing Maritime Terrorism Activities

Maritime boundaries cover a vast area that is difficult to effectively monitor and control. Terrorist groups have increasingly used the maritime domain to carry out attacks and smuggle arms, drugs, and humans. For instance, terrorist groups like Al-Qaeda and ISIS have carried out bombings on commercial vessels in the Gulf of Aden and Strait of Hormuz in past years. This compels governments and port authorities to strengthen maritime domain awareness through surveillance technologies, biometrics, and access control systems to counter threats.

Major Key Players:

Leidos Holdings Inc., SAAB AB, Nuctech Company Limited, Thales Group, OSI Systems Inc., Leonardo SpA, Smiths Group PLC, Elbit Systems Ltd., Kongsberg Gruppen ASA, Airbus SE, Westminster Group PLC, BAE Systems PLC, and Terma AS.

Detailed Segmentation:

Global Maritime Security Market, By Technology:
Screening and Scanning
Communications
Surveillance and Tracking Detectors
Other Technologies
Global Maritime Security Market, By Type:
Port and Critical Infrastructure Security
Vessel Security
Coastal Surveillance

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Maritime Security Market Key Market Opportunity

Growth of Smart Ports and Maritime Domain Awareness

Modern ports are increasingly investing in digitization and automation to improve efficiency while enhancing security. This provides opportunities for vendors to provide integrated solutions covering access control, video surveillance, biometrics, cybersecurity and data analytics capabilities. Demand is growing for solutions that can fuse data from multiple sensors and automation systems to gain enhanced maritime domain awareness. Governments are also supporting initiatives to strengthen cooperation between ports and improve information sharing on threats. This presents a lucrative opportunity for security systems and managed/professional service providers.

Maritime Security Market Key Market Trend

Increased Focus on Unmanned and Autonomous Systems

With advancements in robotics, autonomy, and AI, unmanned systems are playing a greater role in maritime security applications. For example, unmanned surface and underwater vehicles are demonstrating capabilities to undertake port and coastal patrol, inspect suspicious vessels, detect threats underwater, and monitor pipelines/cables at lower costs compared to manned systems. Autonomous cargo ships are also a trend. In the future, greater use of unmanned technologies is expected to transform maritime surveillance and help address shortages in manned assets. This presents a major trend driving innovations and investments in this market.

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𝗙𝗔𝗤'𝗦:

What is the projected size of the Maritime Security Market by 2031?
Which major countries will experience the greatest impact from the Maritime Security Market?
Which regional market in the Maritime Security Market is the largest?
Which leading companies dominate the majority of the Maritime Security Market?
Which geographic market within the Maritime Security Market industry is expected to exhibit the most significant growth potential?
What are the primary drivers of the Maritime Security Market?
What are the current trends and future predictions for the global Maritime Security Market industry?
What are the key strategies employed in the Maritime Security Market?
What are the main growth prospects for the Maritime Security Market?

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