HOME Research Insight Kongsberg Gruppen(Norway) and Transas (Ireland) are the Major Players in the Vessel Traffic Management Market

Kongsberg Gruppen(Norway) and Transas (Ireland) are the Major Players in the Vessel Traffic Management Market

Vessel Traffic Management (VTM) systems manage and monitor vessel traffic, ensure safe navigation, detect unknown vessels, identify and monitor these, as well as provide directions, vectoring, and interception on the seas. These systems are also used for fisheries and Exclusive Economic Zone (EEZ) monitoring, disaster response, search and rescue operations, and environmental protection. The growth of this market is propelled by various factors, such as increase in maritime safety awareness, increase in port expansion investments, and rise in seaborne transport and vessel traffic.

The vessel traffic management market is projected to grow from an estimated USD 2.87 Billion in 2018 to USD 4.12 Billion by 2023, at a CAGR of 7.50% during the forecast period. This growth can be attributed to the rise in port expansions and development of new commercial ports. In addition, rising freight transport activities by sea are also driving the vessel traffic management market.

Major players operating in the vessel traffic management market include Kongsberg Gruppen (Norway), Transas (Ireland), Rolta India (India), L3 Technologies (US), Frequentis (Austria), Japan Radio Co.Ltd (Japan), TERMA A/S (Denmark), Vissim AS (Norway), SIGNALIS S.A.S (France),  Leonardo Finmeccanica (Italy), Thales (France), Saab (Sweden) Indra (Spain), and Kelvin Hughes (UK). These key players offer various vessel traffic management product types, such as AIS, VHF communication, radars, CCTV sensors, and VTM solutions, and have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.

Kongsberg Gruppen(Norway) is one of the major players in the vessel traffic management market, and provides products and solutions across major vessel traffic management product types. The company has a strong presence in Europe, North America, Latin America, and Africa, and has a very high breadth of offerings, delivery and support, and excellent product distribution. In November 2016, Kongsberg inaugurated their office and warehouse facility in the Republic of South Africa. Kongsberg Maritime South Africa aims at serving customers located in, or visiting ports across the country and throughout the Sub-Saharan region. In February 2016, Kongsberg Seatex AS introduced the new AIS receiver, Novel SAT-AIS (NAIS), which is used in the Norwegian satellite, NORSAT-1. The AIS receiver includes a payload that improves identification and tracking of ships anywhere on the seas.  

Transas (Ireland) is another leading company in the vessel traffic management market, with a strong presence in the Middle East, Asia Pacific, and Europe. It is a leading provider of navigation and integrated shipboard solutions, port and VTMS solutions, maritime simulation and training, fleet management and training, and leisure and individual seafarer applications. In March 2017, Transas underwent a partnership agreement with Satcom Global to provide global satellite services to the maritime industry to add integrated connectivity to THESIS, its unified platform for digital operations on ships and in shore-based offices.  In December 2015, Transas received a contract from the Lerwick Port Authority (Scotland) worth USD 0.49 million to install a new Vessel Monitoring System (VMS) to cover the Lerwick Harbour in Shetland.

Related Reports:

Vessel Traffic Management Market by Component (Equipment, Solution, Service), Investment (Brownfield, Greenfield), Systems (PMIS, RIS, GMDSS, Aton Management & Health Monitoring Systems), End User (Commercial, Defense), Component, Region - Global Forecast to 2023

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