Maritime security is concerned with the protection of vessels, ports, and other infrastructure related to the shipping business from intentional damage through terrorism, sabotage, or subversion. The market is segmented by systems into screening and scanning, communications, surveillance and tracking, and other systems. The other systems include command and control systems, gate or port access control systems, and cybersecurity systems. By type, the market will be segmented into port and critical infrastructure security, vessel security, and coastal security. The report also covers the market sizes and forecasts for the market in various regions. The market sizing and forecasts have been provided in value (USD billion).
The surveillance and tracking segment currently dominates the market and is expected to continue its dominance over the market, owing to the increased demand for security in ports and coastal areas. The need for surveillance and tracking systems is expected to be high in regions like West Africa, Latin America, and the Caribbean, where the incidents of pirate attacks and robbery have increased over the past few years. On the other hand, while the countries in North America and Europe embrace emerging maritime surveillance technologies for enhanced security, the growing trade and increasing maritime tensions in Asia-Pacific have been the key driver for the procurement of surveillance systems. The ports deploy a wide variety of cameras, including fisheye, pan-tilt-zoom (PTZ) cameras, thermal cameras, etc. For wide short-range operations, such as monitoring cruise terminal areas, ports prefer wide-angle (90 degrees to 360 degrees) cameras to allow them a wide view of busy operation areas, whereas, for long-range surveillance, ports deploy thermal cameras to detect and monitor illegal fishing and poaching activities in the coastal areas and the exclusive economic zones. For instance, in July 2020, the Spanish Galician coast authorities used FLIR PT-Series cameras in a pilot surveillance project to detect and monitor illegal fishing and poaching activities along the Spanish Galician coast. The FLIR thermal imaging cameras combined with maritime video analytics software from gradient have been deemed successful in spotting illegal vessels on a 24/7 basis.
The Asia-Pacific region is expected to witness the highest growth during the forecast period. This is primarily due to robust maritime trade in the region. According to UNCTAD Review of Maritime Transport 2020, approximately 76% of all maritime trade loaded and unloaded in developing regions is from the Asian region. To cater to the maritime trade in the region, investments are being made into the development of new ports and terminal expansions. With the robust need for security and surveillance systems, the ports are introducing new perimeter security systems for tracking unidentified goods and materials, automatic alarm in case of an unusual gathering of personnel, tracking alarm of camera tampering, etc. For instance, in June 2021, Garden Reach Shipbuilders and Engineers Ltd (GRSE), a leading shipyard and warship manufacturer in Kolkata, installed an artificial intelligence (AI)-enabled high-end CCTV network for surveillance at its five units in the city at the cost of INR 1.29 billion, to ward off any threat to its assets. Similar investments into maritime security are being made by port authorities in China, Japan, Australia, and Vietnam, among others, which is expected to propel the growth of the market during the forecast period.
The maritime security market is highly fragmented, with many players supporting the market with various products like surveillance and scanning systems, command and control systems, and communication systems, among others. Some of the prominent players are Thales Group, BAE Systems PLC, Smiths Group PLC, Westminster Group PLC, and OSI Systems Inc. The companies are investing in the research and development of new and advanced monitoring systems that will enhance the overall security at the maritime borders. Also, as a part of their expansion strategies, companies are acquiring stakes in companies that will complement their existing solutions and enhance their footprint in the market. For instance, in April 2021, Leonardo announced that it acquired a 30% stake in GEM Elettronica, a company involved in manufacturing small and medium-sized 3D radars, electro-optical sensors, and inertial systems for maritime, coastal, and airport surveillance. Such strategies of the companies are expected to help the players increase their sales profit and expand their business to new geographical locations.
In-depth industry statistics and market share insights of the Maritime Security sector for 2020, 2021, and 2022. The Maritime Security research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Maritime Security report PDF. 2b1af7f3a8