maritime-security-market
Published

MAR 2018

Maritime Security Market- Segmented by Type (Screening and Scanning, Communications, Surveillance and Tracking, Detectors), Threat and Vulnerabilities (Deep Water Security, Perimeter Security), End-User (Military, Government Agencies, Coast Guards) and Region - Growth, Trends and Forecasts (2018-2023)

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The global maritime security market was valued at USD 17.13 billion in 2017, and is expected to reach USD 25.75 billion by 2023, by witnessing a CAGR of 7.03% during the forecast period, 2018 to 2023. Maritime terrorism, gun-running, drug trafficking, piracy, and other non-traditional seaborne attacks have increased exponentially and they threaten many nations today. This situation has given rise to a shift toward asymmetric forces from the use of conventional force-structured defense forces. Global maritime security is a new byword of securing the sea lines of communications in international relations. Maritime security is vital to national as well as human safety, and it is linked to economic development. Throughout history, the majority of trade was done via sea routes, and maritime security played a vital role in economic development.

The market for global maritime security is segmented by type into screening and scanning, communications, surveillance and tracking, detectors, and others. The military, government agencies, and coast guards are among the major end users for the market. The market is segmented by regions like North America, Europe, Asia-Pacific, South America, and Middle East & Africa with respective country-wise analysis.

Increased Sea-borne Threats and Ambiguous Maritime Security Policies are driving the Market

As geopolitical control changed from the Atlantic to the Pacific, policy-makers in the European Union (EU) ought to pay closer attention to the vast maritime region that lies in between the Indian Ocean. All major powers rely on the so-called Great Connector that stretches from the Cape of Good Hope to the Strait of Malacca. Emerging economies in East Asia are acquiring more purchasing power and have the need to secure increasing energy needs.

 

For instance, smaller naval powers, such as Pakistan, Malaysia, Singapore, and South Korea are also expanding their activities in the region. Post-Cold War, the maritime security environment in the Indian Ocean underwent a transformation, and this has given rise to non-conventional security challenges in the Indian Ocean, such as piracy, human and drug trafficking, as well as maritime terrorism. The precarious security situation along the Horn of Africa is particularly bad. Violent insurgencies are commonplace and they threaten the political stability of the entire region. Lack of a comprehensive multilateral maritime security strategy across oceans is making this maritime force projection vulnerable. These dynamics are boosting the maritime security market over the forecast period

Surveillance and Tracking to Accelerate the Market Landscape

Surveillance and tracking systems are employed to increase the security of ports and war ships and protect them from pirates, terrorists or any hostile attacks, and to avoid collisions, which can control the maritime traffic at ports and channels of coastal and oil platforms defense. Cameras are the major assets for end users to track all the ongoing movements with an attached long range finder. Maritime surveillance is defined as a valuable recognition for capturing all activities that impact the security and economy or environment. About 70% of all world trade is carried by sea transport with growing use of maritime transport, and activities, such as traffic of prohibited substances, illegal immigration, and terrorist attacks, at port areas and coasts between vehicles primarily are a reality. The terrorist attack versus US warship Cole DDG 67 transpired at port Aden, Yemen that led to the death of 17 people. French tanker Limburg also suffered terrorist attack at the Yemen coast; attacks of Pirates are very common in Somalia, in the Strait of Malacca and Indonesia; moreover, the 26/11 Mumbai attacks in India demonstrated that the threat from sea is real. These are instances that shook the world and companies are rolling out effective and enhanced security technologies for maritime, and the premier organizations like DRDO laboratory(India), Centre for Artificial Intelligence and Robotics (CAIR) (United states) and other organizations, are working to increase maritime security.

North America is Dominating the Market

US maritime domain is unique in its scope and diversity with more than 350 ports and 95,000 miles of coastline. Border operation teams with high integration of security solutions in the US and Canadian agencies work together, sharing information and expertise to support operations along the US and Canadian border. NORAD’s maritime warning mission provides a value added contribution to the maritime defense and security of Canada and of the United States in North America. The architecture of C4ISR has been enhanced with national and bilateral intelligence information sharing in the wake of 9/11. But, Canadian governance is highly propagated among federal domains, territorial governments, and influential parties. North America, over the years, has taken giant leaps in terms of technological advancement with companies’ making approaches to add value to the market growth.

Major Key Players in the market include: SAAB Group, Thales Group, Zeal GMS, ESC Global Security, Honeywell International Inc., Harris Corporation, Selex ES, Northrop Grumman Corporation, Elbit Systems Ltd., Signalis GmbH, BAE Systems Inc., Terma A/S, Westminster Group PLC, Sonardyne International Ltd., and Kongsberg Gruppen, among others.

Key Developments in the Market

  • January 2018 – SAAB, a defense and security company is expanding its activities in Finland and established a development centre.
  • January 2018 – BAE systems announced that it received contracts from the United States Navy for modernization of guided missile destroyers USS Oscar Austin and USS Howards.
  • December 2017 – SAAB acquired Applied Composites AB (ACAB), a Sweden based company from GKN Aerospace. This acquisition is expected to guarantee technologies for development of ground combat weapon system and advanced radomes.
  • December 2017 – Harris Corporation was selected to outfit United States Army security forces Assistance Brigades (SFABs) with reliability and combat proven communications systems.

Reasons to Purchase this Report

  • How will unstructured security standards and technologies act as a restraint to the growth of maritime security market?
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Which End-User is expected to dominate the market?
  • Which regions are expected to witness fastest growth during the forecast period?
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet (in excel).

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