How Has the Maritime Security Market Size Evolved in Recent Years?
The maritime security market has seen considerable growth due to a variety of factors.
• The size of the maritime security market has seen significant expansion in the past few years. The market is set to increase from $29.06 billion in 2024 to $31.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%.
Factors such as threats of piracy, terrorist assaults on marine targets, smuggling and unlawful trafficking, maritime disagreements and conflict, as well as the growth of global trade, have contributed to the growth observed during the historical period.
What Are The Predictions for The Maritime Security Market in the Coming Years?
The maritime security market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations predict a consistent expansion in the maritime security market size over the coming years. It is projected to reach a value of $37.7 billion in 2029, with a compound annual growth rate (CAGR) of 4.7%.
This prospective surge for the predicted period is attributed to the escalation in global commerce and maritime navigation activities, the impact of climate alterations, the risk of cybersecurity, geopolitical disputes, and rising maritime threats. Noteworthy trends within the projected duration include the incorporation of artificial intelligence (AI), swift adoption of autonomous systems, an emphasis on cybersecurity resilience, global cooperation and data exchange, along with the integration of environmental sustainability.
Which Drivers Are Accelerating Growth In The Maritime Security Market?
The anticipated escalation of maritime threats is presumed to catalyze the expansion of the maritime security market. Maritime threats encompass different potential hazards, risks, or unlawful activities that jeopardize navigational safety, maritime security, or the legal utilization of seas and oceans. This arises from various causes including heightened illegal, unregulated, and unreported (IUU) fishing, along with increasing pressure on ports. Maritime security comes into play during these threats, safeguarding lives, property, trade, infrastructure, security, and the sustainability of maritime operations, all while fostering the wealth of coastal communities and nations. For example, as per the International Maritime Bureau's (IMB) 2022 report, a non-profit organization based in Malaysia, there were a total of 115 cases of piracy and armed robbery against ships recorded in 2022. Consequently, these escalating maritime threats are fuelling the growth of the maritime security market.
What Are The Core Segments Of The Global Maritime Security Market?
The maritime security market covered in this report is segmented –
1) By Component: Solution, Service
2) By Security Type Outlook: Port And Critical Infrastructure Security, Vessel Security, Coastal Surveillance
3) By Service: Risk Assessment And Investigation, Consulting, Maintenance And Support, Training, Other Services
4) By Technology: Access Control, Detectors, Geographic Information Systems, Communications, Supervisory Control And Data Acquisition (SCADA), Screening And Scanning, Smart Containers, Surveillance And Tracking, Weather Monitoring
Subsegments:
1) By Solution: Surveillance Systems, Access Control Systems, Cybersecurity Solutions, Intrusion Detection Systems
2) By Service: Consulting Services, Training And Education, Maintenance And Support, Managed Security Services
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What Emerging Trends Are Influencing The Growth Of The Maritime Security Market?
Major corporations working within the maritime security sector are focusing their efforts on new technological advancements to boost safety and efficiency. Such innovations include the vessel traffic management information system (VTMIS), a cutting-edge technology that creates a seamless interface between various port and marine assets such as radar, CCTV, radios, weather systems, and direction finders for radios. For example, the US-based company, AD Ports Group, which is an integrated business facilitating worldwide logistics trade, initiated a VTMIS across its UAE operations in March 2023 with the aim of improving maritime safety. This technology unites all assets in a port and marine setting, delivering real-time data and strengthening communication from vessel-to-vessel and vessel-to-shore. With its primary goal of enhancing safety, security, and efficiency in managing maritime traffic, it operates like the central nervous system of waterways. It keeps track of ship movements, delivers essential information, and organizes interactions among various stakeholders.
Who Are the Key Players In The Maritime Security Market?
Major companies operating in the maritime security market are:
• Cobham plc
• Rapiscan Systems
• Raytheon Technologies
• Airbus SE
• Lockheed Martin
• General Dynamics Corporation
• Northrop Grumman Corporation
• BAE Systems
• Safran SA
• Thales Group
• L3Harris Technologies
• Leonardo SpA
• Leidos
• Motorola Solutions Inc
• Booz Allen Hamilton Inc
• Elbit Systems
• Rheinmetall AG
• CACI International Inc
• Teledyne Technologies
• Macquarie Group Limited
• Israel Aerospace Industries (IAI)
• Saab AB
• Palantir Technologies
• Cubic Corporation
• Smiths Detection
• OSI Systems Inc
What Are The Regional Insights Into The Maritime Security Market?
Asia-Pacific was the largest region in the maritime security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the maritime security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
