Maritime Traffic Management System Market to Expand with Significant CAGR During 2017 - 2025

In the history, harbor controlled radar was developed in order to increase the efficiency of waterways. With the rapid growth in the marine industry, the safety and security at harbors were difficult to achieve. To resolve this problem, many systems were developed like radio-communications, navigation rules, electronic chart systems and identification systems. Then came the evolution of maritime traffic management system. These systems were needed in order to manage, plan and supervise the traffic on road, air and ports. At present, the maritime traffic management systems are used to manage traffic on ports, harbor and coastal areas in order to increase the safety and security of materials and humans.

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The latest technology developed in these systems are 3D maritime traffic management system which helps its users to make appropriate decisions in any situation. These systems provide many functionalities like it has remote sensors which can monitor and control traffic, it provides real-time and off-line data archiving, creating routes and providing alternative routes.

Maritime Traffic Management System: Drivers and Restraints

The maritime traffic management systems provide users with many advantages like traffic analysis of waterways, increase the efficiency of ports, protection of the environment and also guards the coasts against any damage. Such benefits are driving the usage of these systems thereby elevating the market growth.

The high cost of deploying the system in the marine area is one of the major factor restraining the growth of maritime traffic management system. Also, the complexity of the system is very high which requires skilled labor. Such factors are major challenges to the adoption of the systems in the market.

Continuous research and development in this field and investments by major vendors are the key trends in the maritime traffic management systems market.

Maritime Traffic Management System: Segmentation

Segmentation based on components of Maritime Traffic Management System in Market:

Hardware
Software Platform
Support Services

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Segmentation based on applications of Maritime Traffic Management System in Market:

Port Security
Waterways Traffic Management
Coastal Surveillance
Navigation Management
Other System
Maritime Traffic Management System: Competitive Landscape

The key players of the market are Saab AB, Thales Group, Transas Marine Ltd., Marlan Maritime Technologies, Arlo Maritime AS, Frequentis, Ericsson Inc., Elcome International LLC, Xanatos Marine Ltd., and Lockheed Martin Corporation.

Regional Overview

North America is expected to the largest market of Maritime Traffic Management System. The majority of Maritime Traffic Management System vendors such as Elcome International LLC, Xanatos Marine Ltd., and Lockheed Martin Corporation are based in North America region. This is attributed to the growth of marine industry. The market is anticipated to grow in Europe region due to the presence of other market vendors like Transas Marine Ltd., Arlo Maritime AS and few others in the region.

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