Global Maritime Security Market Analysis & Forecast, 2016 - 2022
High commodity movement, legal regulations, and the threats on the seaborne activities essentially reflect the need for providing security in the maritime environment. Realizing this, the governments around the worlds have shown there keen interest in securing their domestic as well as neutral waters. The U.K. National Strategy for Maritime Security, EU Maritime Security Strategy Action Plan, and Asia-Pacific Maritime Security Strategy among others are various approaches offered by the secretary of State for Defense, Council of European Union, and the Department of Defense of the U.S. respectively, in order to preserve security. All the strategies keep on getting revised so as to sustain with changing threat and risk scenario, presenting demand for a much robust security structure. This will put the surge on the maritime capabilities which in turn helps the security systems and services market for maritime security
The report is a meticulous compilation of the various aspects of the maritime security market incorporating complete market analysis of the maritime security systems and services on platforms such as ports and vessels. The Porter’s analysis, Value chain analysis, and key consortium have also been included in the report. The report deals with all the driving factors, restraints, and opportunities with respect to the global maritime security market, which are helpful in identifying trends and key success factors for the industry. The market values form a critical part of the report; herein the revenue generated from the systems and services provided in the maritime security industry is tracked in order to calculate the market size.
Further, the report provides an exhaustive study of the global maritime security market and the trends across geographical regions such as North America, Europe, APAC, and Rest of the World. The market segmentation is done on the basis of systems used (video surveillance, navigation, control, detection & tracking, and others), services, and platforms.
Moreover, the industry analysis has been included analyzing the impact of the five major forces to understand the overall attractiveness of the industry. The company profile section consists of the key players in the industry. The companies have been chosen on the basis of their market developments and revenue generation. Some of the key players in the maritime security market are Sperry Marine Northrop Grumman, Kongsberg Maritime, Control Risks, and Six Maritime among others.
North America dominated the Global Maritime Security Market with holding over 27% of the total market in 2015 followed by Europe and APAC. However, by the end of 2017, APAC is anticipated to take the lead with the expected dominance through the forecast period from 2015 to 2022.
Key questions answered in the report:
Maritime security deals with security provisions for the assets associated to the maritime industry which includes ports, facilities, and the ships. The governments of the countries around the world work in association with the neighboring countries in order to combat the issues of maritime security. The Coast Guard, Defense, and the national government are active participants in addressing the maritime concerns.
Traditionally, the concept of security did not relate directly to maritime security in general but the gradual growth in terrorist naval activities has increased the focus on securing sea borders. The concept of maritime security has been evolving from individual security to national security followed by the international security having explicit focus on the latter two.
Although the numbers of piracy attack have been decreasing, the disturbances in the maritime security domain have not come to rest. The terrorist attack in Philippines in April 2016 keeping more than 20 hostages; security concerns on the ports in Indonesia and others are some of the incidents swaying the maritime security industry. These factors are driving the maritime security market along with presenting the need of a comprehensive approach for the future as opportunities.
Depending upon the point of application and the requirement for the deployment of security systems and services, the global security market is segmented into port and vessels. Due to the dynamic nature of the vessels, the security requirement on vessels is much higher than that of the ports. This makes security systems and services market for vessels account for over 64% of the total maritime security market.
Video surveillance systems accounted for the highest market share in the 2015 and are expected to dominate in the forecast year from 2015 to 2022. The navigation, control, and the detection & tracking systems are expected to over $ 4 billion by the end of the forecast period in 2022. Besides, the implementation of technology equipped shipping containers, known as smart containers, integration of technology into intrusion alarms , and autonomous surface vehicles among others may contribute to the growth in the future at an estimated CAGR of 11%, from 2015 to 2022.
The national security of maritime boundaries concerns the security provisions in the defined territory of the any country with political sovereignty. The countries individually formulate strategies and action plans according to the nation’s needs. India, the U.S. and the EU Nations, for example, formulate strategies by the name of Indian Maritime Security Strategy, United State Counter Piracy and Maritime Security Action Plan, and European Union Maritime Security Strategy (EUMSS) - Action Plan respectively.
The maritime security systems and services market has high impending growth in the maritime domain majorly attributed to the growing security concerns in the territorial as well as neutral waters. The major players providing security systems to the maritime security industry are BAE Systems, Kongsberg Gruppen, Elbit System, and SAAB among others. The key service providers for maritime security are Control risks, Hudson Analytix, Six maritime, and Securewest International among others.
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