Global Maritime Safety Market

Dec 2018| VMR622A| Verified Market Research

Report Highlights

The Global Maritime Safety Market was valued at USD 16.95 billion in 2016 and is projected to reach USD 32.36 billion by 2025, growing at a CAGR of 7.45% from 2017 to 2025.

Maritime Safety is associated with the protection of property and life with the help of management, regulation, and technological development of varied forms of waterborne transportation. Factors affecting the security of maritime include - waterway conditions, quality of vessel traffic services, hydrographic services, pilotage, maritime safety devices, availability of information on water levels, weather condition, onboard equipment, onboard crew competence, and condition of the ship. Maritime safety is necessary to avoid the instances of intentional damage to cargo, crew, or ship as a result of piracy or terrorism, violence, and theft.

Market Dynamics:
1. Market Drivers
1.1 Emergence of integrated solutions
1.2 Development of smart and intelligent technologies
1.3 Increasing maritime safety awareness
1.4 Need for regulatory compliances and standards
1.5 Growing trade and freight transport activities by sea
2. Market Restraints
2.1 Piracy issues
2.2 Increasing maritime terrorism
2.3 Lack of uniform standards of technologies and solutions
2.4 Transitional organized crime

Market Segmentation:
The Global Maritime Safety Market is segmented on the service, category, technology, and region.

1. By Service:
1.1 Training, Maintenance and support
1.2 Risk assessment and investigation
1.3 Consulting
1.4 Others

2. By Category:
2.1 Vessel security
2.2 Coastal surveillance
2.3 Port and critical infrastructure security

3. By Technology:
3.1 Geographic Information System
3.2 Supervisory Control and Data Acquisition
3.3 Surveillance & tracking
3.4 Weather monitoring
3.5 Screening & scanning
3.6 Communication
3.7 Detectors
3.8 Access control

4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Kongsberg Gruppen
2. Signalis
3. Honeywell International
4. Leonardo-Finmeccanica
5. Harris Corporation
6. Saab
7. Elbit Systems Ltd.
8. Raytheon Anschütz GmbH
9. BAE Systems, Inc
10. Northrop Grumman Corporation

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Maritime Safety Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

To know more about the Research Methodology of Verified Market Intelligence and other aspects of the research study, kindly get in touch with our sales team

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