Market Share of Maritime Security Industry
The maritime security market is semi-consolidated, with a handful of leading players supporting the market with various products like surveillance and scanning systems, command and control systems, and communication systems, among others. Some of the prominent players are THALES, BAE Systems plc, Smiths Group plc, Westminster Group Plc, and OSI Systems, Inc. The companies are investing in the research and development of new and advanced monitoring systems that will enhance the overall security at maritime borders. Also, as a part of their expansion strategies, companies are acquiring stakes in companies that will complement their existing solutions and enhance their footprint in the market.
For instance, in April 2021, Leonardo announced that it acquired a 30% stake in GEM Elettronica, a company involved in manufacturing small and medium-sized 3D radars, electro-optical sensors, and inertial systems for maritime, coastal, and airport surveillance. Such strategies of the companies are expected to help the players increase their sales profit and expand their business to new geographical locations.
Maritime Security Market Leaders
BAE Systems plc
OSI Systems, Inc.
Westminster Group plc
THALES
Smiths Group plc
*Disclaimer: Major Players sorted in no particular order
