Maritime Security Systems Market Size, Growth and Forecast 2030
The latest market report published by Credence Research, Inc. "Global Maritime Security Systems Market: Growth, Prospects, and Competitive Analysis, 2016 – 2030". The global maritime security systems market generated revenue of around USD 24.1 billion in 2022 and is anticipated to grow a CAGR of over 7.10% during the forecast period from 2018 to 2030 to reach around USD 38.9 billion in 2030.
The market is being driven by increased trade and freight transit and improved maritime safety awareness. In addition, the industry is growing due to increasing security concerns, a dramatic increase in international marine trade, and maritime trade regulations. The development of several rules and regulations for better regulating and integrating maritime security systems has also raised the market share for marine security systems. Technical developments and the successful integration of new technologies, such as smart containers with GPS tracking capabilities, may also result in significant growth for the marine security systems market. However, some of the significant market restraints are expensive integration and maintenance costs, an increase in cyber warfare combined with maritime terrorism, the use of illegal weapons, drug trafficking, piracy, and other non-traditional seaborne attacks.
The global maritime security systems market is bifurcated into system, type and geography. Based on the system, the maritime security systems market is categorized into screening and scanning, communications, surveillance and tracking and other systems. The global maritime security systems market is segmented based on type: port and critical infrastructure security, vessel security and coastal security. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2022, North America was expected to occupy the largest maritime security systems market share in revenue and sales. The region's substantial port infrastructure and increasing levels of import and export activity, in turn, have raised the demand for maritime safety solutions to strengthen local security. The region also makes a sizable sum of money from marine time safety solutions suppliers because of the extensive maritime transit and freight activities in developed countries like the United States and Canada. This region's shipping and transportation industries highly desire modern maritime safety strategies developed through R&D in marine technology.
The maritime security systems market is expected to grow significantly in the next few years. A number of factors are driving this growth, including the increasing need for maritime security, the development of new technologies, and the growing demand for maritime transportation.
The need for maritime security has been increasing in recent years due to the threat of terrorism and piracy. In addition, the number of maritime accidents has been on the rise, making it essential for ships to be equipped with effective security systems.
New technologies are also playing a role in driving the growth of the maritime security systems market. For example, biometric authentication is becoming increasingly popular as a way to verify the identity of ship crew members and passengers. In addition, new tracking technologies are making it possible to track ships more effectively and respond quickly to any incidents that occur.
Why to Buy This Report-
· The report provides a qualitative and quantitative analysis of the global maritime security systems by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global maritime security systems segmentation based on system, type and regional integration.
· The global maritime security systems report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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