During the projected period, the Maritime Security Market is expected to develop at a CAGR of 7.08 per cent. There has been a surge of interest in marine security in geopolitical ties around the world in recent decades. Maritime security is concerned with preventing terrorism, sabotage, or subversion from causing purposeful harm to ships, ports, and other shipping infrastructure. The marine network, according to research, handles the great majority of global trade. As a result, many Asian maritime countries are boosting their spending on major port construction and expansion programs. This will increase demand for screening, scanning, and surveillance technology in the coming years. Furthermore, as maritime trade and transportation develop, illegal activities such as drug trafficking, illegal immigration, and attacks on ports and coastal areas are on the rise, driving up the global demand for maritime security. Several issues concerning maritime security, such as the threat of pirates, have sparked international debate and have been the basis of inter-state tensions, particularly in China.
Many port facilities, on the other hand, lack the necessary cybersecurity mechanisms to deal with the threats. As a result, port operators are investing in new cybersecurity technologies to strengthen their existing security measures. Due to strained diplomatic and political relations between nations, efforts to build a global consensus will have an impact on the marine security sector’s future growth prospects. Furthermore, some of the global market’s growth opportunities include technical advancement and the development of integrated solutions. The adoption of smart containers, which are shipping containers equipped with sensors to track and report data, will considerably benefit the market.
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The detector technologies and systems sector is expected to develop at the fastest CAGR throughout the forecast period. Laser range finder systems are quickly replacing traditional systems due to their efficiency and precision, with the greatest CAGR in the category. The surveillance and tracking segment, however, has the biggest proportion of the maritime safety market due to the constantly expanding demand for video and underwater monitoring technologies and services in this sector.
The deep-water segment is expected to grow during the forecast period. Both underwater and above-water perimeters are protected by deepwater defence equipment. The deepwater sector is expected to grow at a CAGR of 6.50 per cent over the projection period.
During the projection period, vessel safety is expected to account for the greatest market share due to greater threat susceptibility. Furthermore, port and shipyard development is expected to grow at the fastest rate during the forecast period.
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North America is expected to be the primary market for maritime defence. The maritime protection market in North America is expected to grow at a 7.1% CAGR over the forecast period. The rise of the North American economy is being driven by the US government’s efforts to safeguard itself from dangers such as piracy, insurgency, illegal trafficking, and cyberattacks.
The Omani Maritime Security Centre (MSC) and the French Navy signed a memorandum of understanding (MoU) in February 2022 to share maritime security information. The two sides discussed several topics relating to their respective maritime domains.
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1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Maritime Security Market, By System
1.1.2 Global Maritime Security Market, By Threats And Vulnerabilities
1.1.3 Global Maritime Security Market, By Application
1.1.4 Global Maritime Security Market, By Region
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Top-Down And Bottom-Up Approaches
3.6 Forecast Model
3.7 List Of Assumptions
4 Market Insights
5 Market Dynamics
5.2.1 Growing Emphasis On Maritime Security
5.2.2 Surge In International Seaborne Trade
5.2.3 Drivers Impact Analysis
5.3.1 High Costs Of Maritime Security Systems
5.3.2 Vulnerability Of Electronic Navigation Systems To Cyberattacks
5.3.3 Restraints Impact Analysis
5.4.1 Improved Safety Standards At Sea
5.4.2 Rise In Coastal And Maritime Tourism
5.5.1 Augmented Reality Application In Maritime Security Systems
5.6 Patent Analysis
6 Market Factor Analysis
6.1 Porter’s Five Forces Model
6.1.1 Threat Of New Entrants
6.1.2 Bargaining Power Of Suppliers
6.1.3 Bargaining Power Of Buyers
6.1.4 Threat Of Substitutes
6.1.5 Intensity Of Rivalry
6.2 Supply Chain
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