Sales Revenue of Maritime Security Market to Soar in the Near Future Owing to Growing Consumer Adoption
Security is one of the major concerns for the national and state governments globally. Maritime security is one of the majorly used security system involved in the prevention from intentional damage through sabotage, subversion or terrorism. Maritime security system is essential for the protection of nation’s security. Recently, is has become much important for every country to defend against increasing maritime threats such as terrorist threats, environmental destruction, illegal seaborne immigration and transnational criminal and piracy threats. Crime against ship is one of the biggest concerns for the maritime security professional operating the system.
Global maritime security market can be bifurcated into port and critical infrastructure security, vessel security, and coastal surveillance. Some of the technologies used in the maritime security are surveillance and tracking, weather monitoring, access control, screening and scanning, geographic information system (GIS) and supervisory control and data acquisition (SCADA). Surveillance and tracking technology (underwater surveillance, video surveillance, automatic identification system (AIS)) has the largest market share for maritime security system.
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In 2013, North America has the largest market share for maritime security system, followed by Europe and Asia-Pacific. However, Asia Pacific region is expected to become the largest market for maritime security system by 2020. Asia Pacific market is expected to witness highest growth rate in coming future. Emerging markets of Asia Pacific such as China and India are expected to boost the Asian maritime security market.
Increasing global sea trade is driving the global maritime security market. Additionally, increasing number of terrorist threats, rising awareness regarding the need for better security system, regulations in favor of necessitating security standards is expected to drive the maritime security market especially in the coastal region. Pirates and terrorists use innovative technology which can cause serious damage to the ships, as well as a nation’s security. Technological advancement and development of integrated security solutions is expected to provide growth opportunity for the global players to establish themselves in the emerging markets of Asian region.
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Global maritime security market is dominated by multinational companies. However, there are some small manufacturers of gas masks operation in the market, but at regional level. Some of the major companies operating at the global maritime security market are SAAB Group, Thales Group, Sonardyne International Ltd., Bae Systems Inc., Elbit Systems Ltd., Northrop Grumman Corporation, Telecommunication Systems, Inc., Westminster Group, Honeywell International Inc. and Harris Corporation.