Yahoo Finance Maritime Security Market Poised to Reach Revenue of More than US$38 Bn by 2027 End
According to Fairfield Market Research, Global Maritime Security Market is Anticipated to Register a CAGR of More than 7% During the Forecast Period.
London, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Fairfield Market Research in a newly released report tracks the performance of global maritime security market during 2021 – 2027. The report says that while the market registered revenue worth US$22.4 Bn in the year 2019, it is poised to surpass the valuation of US$38 Bn toward the end of 2027. Increasing significance of marine security and safety in line with growing digitalization across industry will drive maritime security market ahead. Deepening penetration of automation, IoT, AIT, and Blockchain technology in marine operations is expected to spur the expansion of market. Rising prevalence of pirate attacks on ships demand more effective and reliable safety measures. In addition, unprecedented expansion of marine businesses expansion and the subsequently ballooning data volumes will elevate the scope of growth for maritime security market.
Get the Sample Copy of Maritime Security Market at: https://www.fairfieldmarketresearch.com/report/maritime-security-market/request-sample
Key Research Insights
Global maritime security market size is slated for 7.1% growth between 2021 and 2027
Demand for security solutions accounts for more than 60% of total demand
Security management continues to be the top application area with over 42% market share
Insights into Segmental Analysis
Maritime security solutions continue to experience dominant demand over maritime security services. The report estimates over 60% share of security solutions in total market revenue. Application-wise analysis of maritime security market reveals continued lead of security management that accounts for over 2/5th of the overall market valuation. The other prominent areas of application include counter privacy, coastal monitoring, and loss prevention and detection. Based on type, the port and critical infrastructure security remains sought-after, accounting for over 33% market share. The report further sheds light on the end user analysis, which shows dominance of oil and gas industry, further followed by shipping and transportation industry.
Key Report Highlights
The market will exhibit strong growth majorly in the wake of rising concerns around marine piracy
Port and critical infrastructure security remains the most preferred type of security with over 1/3rd of total market valuation
North America, and Europe contribute a collective revenue share of more than 50%
Insights into Regional Analysis
In 2019, North America recorded more than 27% share in total revenue of maritime security market. The region remains the largest market and will continue to be at the forefront of demand generation throughout the period of forecast. The report expects North America’s maritime security market to witness 6.7% expansion by 2027 end. The market here has been thriving on account of the maximum successful implementation of maritime security and safety solutions. Europe, the next key market for maritime security, follows North America. Both the regions collectively capture over half the market revenue. Asia Pacific is also likely to develop a strong market in the next few years as the region registered more than 23% revenue share in maritime security market in 2019.
Leaders in Global Maritime Security Market
Honeywell, Thales Group, Smiths Group, Rolta, BAE Systems, Raytheon Anschut, Elbit Systems, Northrop Grumman, Airbus, Saab Group, Northrop Grumman
Do You Have Any Query or Specific Requirement? Request for Custom Research: https://www.fairfieldmarketresearch.com/report/maritime-security-market/request-customization
REPORT SCOPE
Report Attributes | Details | |
Base Year | 2020 |
|
Forecast Year | 2021 – 2027 | |
Market Size in 2019 | US$22.4 Bn | |
Estimated Market Size in 2027 | US$38 Bn | |
CAGR | 7.1 % |
|
Key Players | Honeywell, Thales Group, Smiths Group, Rolta, BAE Systems, Raytheon Anschut, Elbit Systems, Northrop Grumman, Airbus, Saab Group, Northrop Grumman | |
Market Segmentation
Components Coverage
Solutions
Services
Professional Services
Training and Consulting
Risk Assessment and Investigation
Support and Maintenance
Managed Services
Security Type Coverage
Port and Critical infrastructure Security
Coastal Surveillance
Vessel Security
Crew Security
Cargoes and containers Safety
Ship system and equipment (SSE) Safety
Other Security Type (Yacht Security, Safety of marine installations, Shipyard security, and cyber security)
System Coverage
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 (Automated Manifest System (AMS), and Automated Mutual Assistance Vessel Rescue System (AMVER))
Application Coverage
Loss prevention and detection
Security management
Counter piracy
Coastal monitoring
Pollution Prevention and Response (PPR) management
End User Coverage
Government Institutions
Oil & Gas
Marine & construction
Shipping & Transportation
Other End-Users (Yachts, Boat Owners, and Ship Agencies)
Geographical Coverage
North America
Europe
Latin America
Middle East & Africa
Asia Pacific
Leading Companies
Honeywell
Thales Group
Smiths Group
Elbit Systems
Northrop Grumman
Raytheon Anschutz
Saab Group
BAE Systems
Airbus
Rolta
Report Inclusions
Market Estimates and Forecast
Market Dynamics
Industry Trends
Competition Landscape
Component-wise Analysis
Security Type-wise Analysis
Application-wise Analysis
System-wise Analysis
End User-wise Analysis
Industry-wise Analysis
Region-wise Analysis
Country-wise Analysis
Key Trends Analysis
COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
