HOME Top Market Reports Maritime Safety Market by Technology & Systems (Surveillance & Tracking, Detectors, GIS, Communication, SCADA, Screening & Scanning, Access Control, and Weather Monitoring), Service, Category, and Region - Global Forecast to 2021

Maritime Safety Market by Technology & Systems (Surveillance & Tracking, Detectors, GIS, Communication, SCADA, Screening & Scanning, Access Control, and Weather Monitoring), Service, Category, and Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: November 2016
Report Code: TC 2764

 

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The maritime safety market size is estimated to grow from USD 16.71 Billion in 2016 to USD 23.67 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 7.2%. The base year considered for the study is 2015 and the market size forecast is from 2016 to 2021.

The objective of the report is to define, describe, and forecast the maritime safety market on the basis of technology & systems, service, category, and region. The report analyzes the opportunities in the market for stakeholders by identifying high-growth segments of the maritime safety market. Furthermore, the report strategically profiles the key players of the maritime safety market and comprehensively analyzes their core competencies such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations. The report also covers detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

The research methodology used to estimate and forecast the maritime safety market begins with capturing data on key security vendors through secondary sources such as Security Association for Maritime Industry (SAMI), International Maritime Organization (IMO), and other sources such as company financials, journals, press releases, paid databases, and annual reports. The vendor product and services offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall maritime safety market size from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, executives, and maritime safety technologists. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the below figure:

Maritime Security Market

To know about the assumptions considered for the study, download the pdf brochure

The maritime safety ecosystem comprises of major vendors such as BAE Systems PLC (U.K.), Honeywell International, Inc. (U.S.), Northrop Grumman Corporation (Israel), Raytheon Anschόtz GmbH (Germany), Saab Group (Sweden), Elbit Systems Ltd. (Israel), Harris Corporation (U.S.), Kongsberg Gruppen ASA (Norway), Leonardo-Finmeccanica (Italy), and Signalis SA (France), service providers, and system integrators. Other stakeholders include maritime safety solution providers, consulting firms, IT service providers, value added resellers, enterprise users, and security technology providers.

The key target audience of maritime safety market report are given below:

  • Communication Hardware Vendors
  • Consulting Companies
  • Government Organizations and Agencies
  • Integrated Maritime Safety Providers
  • Maritime Security Hardware Vendors
  • Maritime Safety Service Vendors
  • Maritime Safety Hardware, Services Resellers and Distributors

“The study answers several questions for the stakeholders; primarily, which market segments will focus in the next two to five years for prioritizing the efforts and investments

Scope of the Report

The research report segments the maritime safety market to following submarkets:

By Technology and Systems:

  • Surveillance & tracking
  • Detectors
  • Geographic Information System (GIS)
  • Communication
  • Supervisory Control And Data Acquisition (SCADA)
  • Screening & scanning
  • Access control
  • Weather monitoring
  • Others

By Service:

  • Maintenance and support
  • Training
  • Consulting
  • Risk assessment and investigation
  • Others

By Category:

  • Port and critical infrastructure security
  • Vessel security
  • Coastal surveillance

By Region:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Middle East and Africa (MEA)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North America maritime safety market
  • Further breakdown of the Europe maritime safety market
  • Further breakdown of the APAC maritime safety market
  • Further breakdown of the MEA maritime safety market
  • Further breakdown of the Latin America maritime safety market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 21)
    2.1 Research Data
           2.1.1 Secondary Data
                     2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                     2.1.2.1 Key Data From Primary Sources
                     2.1.2.2 Key Industry Insights
                     2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Vendor Dive Matrix Methodology
    2.5 Research Assumptions

3 Executive Summary (Page No. - 32)

4 Premium Insights (Page No. - 36)
    4.1 Attractive Market Opportunities in the Global Maritime Safety Market
    4.2 Maritime Security Market: Top Four Technologies and Systems
    4.3 Maritime Safety Global Market
    4.4 Maritime Security Services Market Across Various Regions
    4.5 Life Cycle Analysis, By Geography

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Segmentation
           5.3.1 By Technology and System
           5.3.2 By Service
           5.3.3 By Category
           5.3.4 By Region
    5.4 Market Dynamics
           5.4.1 Drivers
                     5.4.1.1 Maritime Safety Awareness
                     5.4.1.2 Regulatory Compliances and Standards
                     5.4.1.3 Rising Trade and Freight Transport Activities By Sea
           5.4.2 Restraints
                     5.4.2.1 Ungoverned Marine Regions
                     5.4.2.2 Absence of Uniform Standards of Technologies and Solutions
                     5.4.2.3 Transnational Organized Crime (TOC)
           5.4.3 Opportunities
                     5.4.3.1 Development of Integrated Solutions
                     5.4.3.2 Emergence of Smart and Intelligent Technologies
                     5.4.3.3 Untapped Regional Markets Such as Asia Pacific
           5.4.4 Challenges
                     5.4.4.1 Increasing Issues Pertaining to Piracy
                     5.4.4.2 Rising Maritime Terrorism

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Value Chain Analysis

7 Maritime Security Market, By Technologies and Systems (Page No. - 53)
    7.1 Introduction
    7.2 Screening and Scanning
    7.3 Access Control
           7.3.1 Biometrics
                     7.3.1.1 Fingerprint
                     7.3.1.2 Facial Recognition
                     7.3.1.3 Voice Recognition
                     7.3.1.4 Iris/Retina Scan
           7.3.2 Identification Card
    7.4 Detectors
           7.4.1 RFID Tags
           7.4.2 Cbrne/Hazmat Detection
           7.4.3 Laser Range Finder
    7.5 Geographic Information System
    7.6 Surveillance and Tracking
           7.6.1 Underwater Surveillance
           7.6.2 Video Surveillance
           7.6.3 Automatic Identification System
           7.6.4 Long-Range Identification and Tracking (LRIT)
           7.6.5 Radar
           7.6.6 Optronics
           7.6.7 Thermal Imaging
    7.7 Weather Monitoring
    7.8 Scada
    7.9 Communication
           7.9.1 Satellite-Based
           7.9.2 Radio-Based
    7.1 Others (Long Range Acoustic Device, E-Navigation, Charts, Network Security, Cyber Security, Intruder Alarms)

8 Maritime Security Market, By Services (Page No. - 86)
    8.1 Introduction
    8.2 Training
    8.3 Risk Assessment and Investigation
    8.4 Maintenance and Support
    8.5 Consulting
    8.6 Others (Loss Prevention, Security Management, Counter Piracy, KiDNAp, and Response Consultancy)

9 Maritime Security Market, By Categories (Page No. - 96)
    9.1 Introduction
    9.2 Port and Critical Infrastructure Security
    9.3 Vessel Security
    9.4 Coastal Surveillance

10 Geographical Analysis (Page No. - 103)
     10.1 Introduction
     10.2 North America
     10.3 Europe
     10.4 Asia-Pacific
     10.5 Middle East and Africa
     10.6 Latin America

11 Competitive Landscape (Page No. - 131)
     11.1 Overview
     11.2 Competitive Situation & Trends
               11.2.1 Agreements, Partnerships, and Collaborations
               11.2.2 Mergers and Acquisitions
               11.2.3 New Product Launches
               11.2.4 Business Expansions

12 Company Profiles (Page No. - 152)
     12.1 Introduction
     12.2 BAE Systems, Inc
               12.2.1 Business Overview
               12.2.2 Products and Services Offered
               12.2.3 Recent Developments
               12.2.4 MnM View
                           12.2.4.1 Key Strategies
                           12.2.4.2 SWOT Analysis
     12.3 Elbit Systems Ltd.
               12.3.1 Business Overview
               12.3.2 Products and Services Offered
               12.3.3 Recent Developments
               12.3.4 MnM View
                           12.3.4.1 Key Strategies
                           12.3.4.2 SWOT Analysis
     12.4 Harris Corporation
               12.4.1 Business Overview
               12.4.2 Products and Services Offered
               12.4.3 Recent Developments
               12.4.4 MnM View
                           12.4.4.1 Key Strategies
                           12.4.4.2 SWOT Analysis
     12.5 Honeywell International
               12.5.1 Business Overview
               12.5.2 Products and Services Offered
               12.5.3 Recent Developments
               12.5.4 MnM View
                           12.5.4.1 Key Strategies
                           12.5.4.2 SWOT Analysis
     12.6 Kongsberg Gruppen
               12.6.1 Business Overview
               12.6.2 Products and Services Offered
               12.6.3 Recent Developments
               12.6.4 MnM View
                           12.6.4.1 Key Strategies
                           12.6.4.2 SWOT Analysis
     12.7 Northrop Grumman Corporation
               12.7.1 Business Overview
               12.7.2 Products and Services Offered
               12.7.3 Recent Developments
     12.8 Raytheon Anschόtz GmbH
               12.8.1 Business Overview
               12.8.2 Products and Services Offered
               12.8.3 Recent Developments
     12.9 Saab
               12.9.1 Business Overview
               12.9.2 Products and Services Offered
               12.9.3 Recent Developments
     12.10 Leonardo-Finmeccanica
               12.10.1 Business Overview
               12.10.2 Products and Services Offered
               12.10.3 Recent Developments
     12.11 Signalis
               12.11.1 Business Overview
               12.11.2 Products and Services Offered
               12.11.3 Recent Developments

13 Appendix (Page No. - 223)
     13.1 Other Developments
               13.1.1 Other Developments: Partnerships, Agreements, and Collaborations
               13.1.2 Other Developments: Mergers and Acquisitions
               13.1.3 Other Developments: New Product Launches
     13.2 Industry Experts
     13.3 Discussion Guide
     13.4 Introduction RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports


List of Tables (93 Tables)

Table 1 Maritime Safety Market Size and Growth, 2014–2021 (USD Million, Y-O-Y %)
Table 2 Maritime Security Market, By Technologies and Systems, 2014–2021 (USD Million)
Table 3 Screening and Scanning Market, By Region, 2014–2021 (USD Million)
Table 4 Global Access Control Market, 2014–2021 (USD Million)
Table 5 Global Access Control Market, By Region, 2014–2021 (USD Million)
Table 6 Global Biometrics Market, 2014–2021 (USD Million)
Table 7 Global Biometrics Market, By Region, 2014–2021 (USD Million)
Table 8 Fingerprint Market, By Region, 2014–2021 (USD Million)
Table 9 Facial Recognition Market, By Region, 2014–2021 (USD Million)
Table 10 Voice Recognition Market, By Region, 2014–2021 (USD Million)
Table 11 Iris/Retina Scan Market, By Region, 2014–2021 (USD Million)
Table 12 Identification Card Market, By Region, 2014–2021 (USD Million)
Table 13 Global Detectors Market, 2014–2021 (USD Million)
Table 14 Detectors Market, By Region, 2014–2021 (USD Million)
Table 15 RFID Tags Market, By Geography, 2014–2021 (USD Million)
Table 16 CBRNE/HAZMAT Detection Market, By Region, 2014–2021 (USD Million)
Table 17 Laser Range Finder Market, By Region, 2014–2021 (USD Million)
Table 18 Geographic Information System Market, By Region, 2014–2021 (USD Million)
Table 19 Surveillance and Tracking Market, 2014–2021 (USD Million)
Table 20 Surveillance and Tracking Market, By Region, 2014–2021 (USD Million)
Table 21 Underwater Surveillance Market, By Region, 2014–2021 (USD Million)
Table 22 Video Surveillance Market, By Region, 2014–2021 (USD Million)
Table 23 Automatic Identification System Market, By Region, 2014–2021 (USD Million)
Table 24 Long-Range Identification and Tracking (LRIT) Market, By Region,  2014–2021 (USD Million)
Table 25 Radar Market, By Region, 2014–2021 (USD Million)
Table 26 Optronics Market, By Region, 2014–2021 (USD Million)
Table 27 Thermal Imaging Market, By Region, 2014–2021 (USD Million)
Table 28 Weather Monitoring Market, By Geography, 2014–2021 (USD Million)
Table 29 SCADA Market, By Region, 2014–2021 (USD Million)
Table 30 Global Communication Market, 2014–2021 (USD Million)
Table 31 Communication Market, By Region, 2014–2021 (USD Million)
Table 32 Satellite-Based Communication Market, By Region, 2014–2021 (USD Million)
Table 33 Radio-Based Communication Market, By Region, 2014–2021 (USD Million)
Table 34 Others Market, By Regions, 2014–2021 (USD Million)
Table 35 Maritime Security Services, By Region, 2014–2021 (USD Million)
Table 36 Maritime Security Market, By Service, 2014–2021 (USD Million)
Table 37 Training Services Market, By Region, 2014–2021 (USD Million)
Table 38 Risk Assessment and Investigation Services Market, By Region,  2014–2021 (USD Million)
Table 39 Maintenance and Support Services Market, By Region, 2014–2021 (USD Million)
Table 40 Consulting Services Market, By Region, 2014–2021 (USD Million)
Table 41 Other Services Market, By Region, 2014–2021 (USD Million)
Table 42 Maritime Security Market, By Categories, 2014–2021 (USD Million)
Table 43 Port and Critical Infrastructure Security Market, By Region,  2014–2021 (USD Million)
Table 44 Vessel Security Market, By Region, 2014–2021 (USD Million)
Table 45 Coastal Surveillance Market, By Region, 2014–2021 (USD Million)
Table 46 Maritime Security Market, By Region, 2014–2021 (USD Million)
Table 47 North America, Maritime Security Market, By Technologies and Systems, 2014–2021 (USD Million)
Table 48 North America, Maritime Security Market, By Access Control,  2014–2021 (USD Million)
Table 49 North America, Maritime Security Market, By Biometrics,  2014–2021 (USD Million)
Table 50 North America, Maritime Security Market, By Surveillance and Tracking, 2014–2021 (USD Million)
Table 51 North America, Maritime Security Market, By Detectors, 2014–2021 (USD Million)
Table 52 North America, Maritime Security Market, By Communication, 2014–2021 (USD Million)
Table 53 North America, Maritime Security Market, By Service, 2014–2021 (USD Million)
Table 54 North America, Maritime Security Market, By Category, 2014–2021 (USD Million)
Table 55 Europe, Maritime Security Market, By Technologies and Systems,  2014–2021 (USD Million)
Table 56 Europe, Maritime Security Market, By Access Control, 2014–2021 (USD Million)
Table 57 Europe, Maritime Security Market, By Biometrics, 2014–2021 (USD Million)
Table 58 Europe, Maritime Security Market, By Surveillance and Tracking,  2014–2021 (USD Million)
Table 59 Europe, Maritime Security Market, By Detectors, 2014–2021 (USD Million)
Table 60 Europe, Maritime Security Market, By Communication, 2014–2021 (USD Million)
Table 61 Europe, Maritime Security Market, By Service, 2014–2021 (USD Million)
Table 62 Europe, Maritime Security Market, By Category, 2014–2021 (USD Million)
Table 63 Asia-Pacific, Maritime Security Market, By Technologies and Systems,  2014–2021 (USD Million)
Table 64 Asia-Pacific, Maritime Security Market, By Access Control,  2014–2021 (USD Million)
Table 65 Asia-Pacific, Maritime Security Market, By Biometrics, 2014–2021 (USD Million)
Table 66 Asia-Pacific, Maritime Security Market, By Surveillance and Tracking,  2014–2021 (USD Million)
Table 67 Asia-Pacific, Maritime Security Market, By Detectors, 2014–2021 (USD Million)
Table 68 Asia-Pacific, Maritime Security Market, By Communication, 2014–2021 (USD Million)
Table 69 Asia-Pacific, Maritime Security Market, By Service, 2014–2021 (USD Million)
Table 70 Asia-Pacific, Maritime Security Market, By Category, 2014–2021 (USD Million)
Table 71 Middle East and Africa, Maritime Security Market, By Technologies and Systems, 2014–2021 (USD Million)
Table 72 Middle East and Africa, Maritime Security Market, By Access Control,  2014–2021 (USD Million)
Table 73 Middle East and Africa, Maritime Security Market, By Biometrics,  2014–2021 (USD Million)
Table 74 Middle East and Africa, Maritime Security Market, By Surveillance and Tracking, 2014–2021 (USD Million)
Table 75 Middle East and Africa, Maritime Security Market, By Detectors, 2014–2021 (USD Million)
Table 76 Middle East and Africa, Maritime Security Market, By Communication, 2014–2021 (USD Million)
Table 77 Middle East and Africa, Maritime Security Market, By Service,  2014–2021 (USD Million)
Table 78 Middle-East and Africa, Maritime Security Market, By Category,  2014–2021 (USD Million)
Table 79 Latin America, Maritime Security Market, By Technologies and Systems,  2014–2021 (USD Million)
Table 80 Latin America, Maritime Security Market, By Access Control,  2014–2021 (USD Million)
Table 81 Latin America, Maritime Security Market, By Biometrics, 2014–2021 (USD Million)
Table 82 Latin America, Maritime Security Market, By Surveillance and Tracking, 2014–2021 (USD Million)
Table 83 Latin America, Maritime Security Market, By Detectors, 2014–2021 (USD Million)
Table 84 Latin America, Maritime Security Market, By Communication, 2014–2021 (USD Million)
Table 85 Latin America, Maritime Security Market, By Service, 2014–2021 (USD Million)
Table 86 Latin America, Maritime Security Market, By Category, 2014–2021 (USD Million)
Table 87 Agreements, Partnerships, and Collaborations, 2014-2016
Table 88 Mergers and Acquisitions, 2014-2016
Table 89 New Product Launches, 2016
Table 90 Business Expansions, 2014-2016
Table 91 Other Developments: Partnerships, Agreements, and Collaborations, 2014-2015
Table 92 Other Developments: Mergers and Acquisitions, 2013-2014
Table 93 Other Developments: New Product Launches, 2014-2015
 
 
List of Figures (60 Figures)
 
Figure 1 Global Maritime Safety Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Vendor Dive Matrix: Criteria Weightage
Figure 7 Detectors Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 Risk Assessment and Investigation Services are Expected to Grow at the Highest CAGR During the Forecast Period
Figure 9 Port and Critical Infrastructure Security Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 North America Estimated to Hold the Largest Share of the Maritime Safety Market in 2016
Figure 11 Increasing Maritime Awareness and Regulatory Compliances are Expected to Boost the Maritime Safety Market
Figure 12 Detectors Market is Expected to Grow at the Highest Growth Rate Among the Top Four Technologies and Systems Over the Forecast Period
Figure 13 Surveillance & Tracking & North America to Hold the Largest Share of the Maritime Safety Market in 2016
Figure 14 APAC is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 APAC Exhibits the Highest Growth Potential During 2016
Figure 16 Evolution of the Maritime Safety Market
Figure 17 Maritime Safety Market: By Technology and System
Figure 18 Maritime Safety Market: By Service
Figure 19 Maritime Safety Market: By Category
Figure 20 Maritime Safety Market: By Region
Figure 21 Maritime Safety Market: Drivers, Restraints, Opportunities, and Challenges
Figure 22 Maritime Safety Market: Value Chain
Figure 23 Surveillance and Tracking Technology to Grow at the Highest CAGR During the Forecast Period
Figure 24 Biometrics Market Will Continue to Control Access Control Market With More Than Half of the Share in 2021
Figure 25 Laser Range Finders to Grow at the Highest CAGR During the Forecast Period
Figure 26 Video Surveillance Will Continue to Control Surveillance and Tracking Market Size With Majority Market Growth
Figure 27 Satellite-Based Communication Market is Set to Outpace Radio-Based Communication Market
Figure 28 Risk Assessment and Investigation Services Will Continue to Dominate the Maritime Services Market By 2021
Figure 29 Asia-Pacific Will Dominate the Training Services Market By 2021
Figure 30 Growth Rate of Risk and Assessment Will Continue to Control the Latin America Market By 2021
Figure 31 North America Region to Grow at the Highest CAGR During the Forecast Period
Figure 32 Europe Region to Grow at the Highest CAGR During the Forecast Period
Figure 33 North America Region to Grow at the Highest CAGR During the Forecast Period
Figure 34 Port and Critical Infrastructure Security to Grow at the Highest CAGR During the Forecast Period
Figure 35 Port and Critical Infrastructure Security Will Have the Highest Growth Rate in Asia-Pacific
Figure 36 Vessel Security Will Have the Highest Growth Rate in Asia-Pacific
Figure 37 Coastal Surveillance to Grow at the Highest CAGR During the Forecast Period in Asia-Pacific
Figure 38 Regional Snapshot: Asia–Pacific is the Emerging Region in the Maritime Safety Market
Figure 39 Companies Adopted Partnership/Agreement/Collaboration as the Key Growth Strategy During the Period 2014-2016
Figure 40 Battle for Market Share: New Product Launches is the Key Strategy Adopted By Leading Market Players
Figure 41 Market Evaluation Framework: Significant Number of New Product Launches Have Fueled the Growth of the Market From 2014-2016
Figure 42 Vendor Dive Matrix
Figure 43 Product Offerings Comparison
Figure 44 Business Strategy Comparison
Figure 45 Geographic Revenue Mix of Top Players
Figure 46 BAE Systems, Inc: Company Snapshot
Figure 47 BAE Systems: SWOT Analysis
Figure 48 Elbit Systems Ltd.: Company Snapshot
Figure 49 Elbit Systems Ltd.: SWOT Analysis
Figure 50 Harris Corporation: Company Snapshot
Figure 51 Harris Corporation: SWOT Analysis
Figure 52 Honeywell International: Company Snapshot
Figure 53 Honeywell International: SWOT Analysis
Figure 54 Kongsberg Gruppen : Company Snapshot
Figure 55 Kongsberg Gruppen: SWOT Analysis
Figure 56 Northrop Grumman Corporation: Company Snapshot
Figure 57 Raytheon Anschόtz GmbH: Company Snapshot
Figure 58 Saab: Company Snapshot
Figure 59 Leonardo-Finmeccanica: Company Snapshot
Figure 60 Signalis: Company Snapshot

The maritime safety market size is expected to grow from USD 16.71 Billion in 2016 to USD 23.67 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period. The major growth drivers of the maritime safety market include surge in trade & travel activities by seaways, increasing maritime safety awareness, and compliance to regulatory standards & guidelines.

The maritime safety market is segmented by technology & systems, service, category, and region. The demand for maritime safety-based services is projected to grow significantly during the forecast period. Increasing piracy and marine terrorism related incidents across has led vendors to offer enhanced maritime safety solutions and services enabling shipping and transport enterprises from such illegal and unethical acts & threats.

The detectors technology and systems segment is expected to grow at the highest CAGR during the forecast period. Laser range finder systems are increasingly replacing conventional systems owing to its reliability and accuracy, thereby exhibiting the highest CAGR in the segment. However, surveillance and tracking segment holds the largest share of maritime safety market in 2016 on account of exponentially rising demand for video and underwater surveillance technologies and systems from the segment.

Risk assessment and investigation services are expected to grow at the highest CAGR during the forecast period. Vessel security segment category is expected to hold the largest market size in 2016. Moreover, the port and critical infrastructure segment security is expected to grow at the highest CAGR during the forecast period.

The global maritime safety market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America, to provide a region-specific analysis in the report. The North American region, followed by the European, is expected to become the largest revenue generating regions for maritime safety solution vendors in 2016. This is mainly because of the extensive marine travel and freight activities in the developed economies of the U.S. and Canada. Shipping and transport companies are highly focused towards the adoption of advanced security solutions obtained from research and development in maritime security technologies. The APAC region is expected to be the fastest growing region in the maritime safety market, owing to the rising adoption of marine transport and rising sea crimes in the Arabian Sea and the Indian Ocean.

Maritime Security Market

The maritime safety market faces challenges such increasing issues pertaining to illegal acts of piracy and maritime terrorism. Moreover, factors such as absence of uniform standards for maritime safety technologies & solutions, ungoverned marine regions, and transnational organized crime limit the market growth.

Major vendors that offer maritime safety solutions and services across the globe are BAE Systems PLC (U.K.), Honeywell International, Inc. (U.S.), Northrop Grumman Corporation (Israel), Raytheon Anschόtz GmbH (Germany), Saab Group (Sweden), Elbit Systems Ltd. (Israel), Harris Corporation (U.S.), Kongsberg Gruppen ASA (Norway), Leonardo-Finmeccanica (Italy), and Signalis SA (France). These companies have implemented different types of organic and inorganic growth strategies such as innovative product launches, mergers & acquisitions, and partnerships & collaborations to expand their offerings in the maritime safety market.

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