According to a market report by Lucintel, the future of the maritime safety and security market looks promising with opportunities in the loss prevention and detection, security management, counter piracy, coastal monitoring, safety of ship, and pollution prevention and response (PPR) management sector. The global maritime safety and security market is expected to grow with a CAGR of 6% to 8% from 2023 to 2028. The major drivers for this market are rising need to manage complex supply chain operations and increasing sustainability across the marine industry, increasing trade and freight transport activities through the sea, and rising need to create awareness about maritime safety.
Solutions and services are the major segments of maritime safety and security market by component. Lucintel forecasts that services segment will remain the largest segment over the forecast period due to increased outsourcing of safety system installation, maintenance in the shipping industry, and growing government initiatives to improve maritime safety.
Within this market, loss prevention and detection are expected to remain the fastest growing segment due to increasing investment in loss prevention systems and early detection of danger by the shipping industry.
North America will remain the largest region due to increasing investments in maritime security system technologies, expanding the presence of maritime safety system suppliers, and growing government backing for the naval security system.
Honeywell International, Thales Group, Smiths Group, Elbit Systems, Northrop Grumman, Westminster Group, Raytheon Anschutz, Saab Group, OSI Maritime Systems, and BAE Systems are the major suppliers in the global maritime safety and security market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global maritime safety and security market by component, security type, system, application and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Maritime Safety and Security Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global maritime safety and security market by component, security type, system, application, and region, as follows:
Maritime Safety and Security Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
Solutions
Services
Professional Services
Training and Consulting
Risk Assessment and Investigation
Support and Maintenance
Managed Services
Maritime Safety and Security Market by Security Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Port and Critical infrastructure Security
Coastal Surveillance
Vessel Security
Crew Security
Cargoes and Containers Safety
Ship System and Equipment (SSE) Safety
Other Security Type
Maritime Safety and Security Market by System [Value ($B) Shipment Analysis from 2017 to 2028]:
Ship Security Reporting System
Automatic Identification System (AIS)
Global Maritime Distress Safety System (GMDSS)
Long Range Tracking and Identification (LRIT) System
Vessel Monitoring and Management System
Other Systems
Maritime Safety and Security Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Loss Prevention and Detection
Security Management
Counter Piracy
Coastal Monitoring
Safety of Ship
Pollution Prevention and Response (PPR) Management
Maritime Safety and Security Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the maritime safety and security market by component (solutions and services), security type (port and critical infrastructure security, coastal surveillance, vessel security, crew security, cargoes and containers safety, ship system and equipment (SSE) safety, and other security type), system (ship security reporting system, automatic identification system (AIS), global maritime distress safety system (GMDSS), long range tracking and identification (LRIT) system, vessel monitoring and management system, and other system), application (loss prevention and detection, security management, counter piracy, coastal monitoring, safety of ship, and pollution prevention and response (PPR) management), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?