Global Maritime Safety Market – Industry Trends and Forecast to 2024

Market Analysis: Global Maritime Safety Market

The global maritime safety market accounted for USD 17.3 billion in 2016 growing at a CAGR of 7.7% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Maritime Safety Market

Maritime safety is referred to be the mission of United States coast guard. Coast guard investigates maritime incidents, merchant vessels, offshore drilling units and maritime facilities. Apart from these coast guards are also responsible for licensing mariners, documenting U.S. flagged vessels, and implementing a variety of safety programs.Maritime safety awareness, and regulatory compliances and standards may act as the major driver in the growth of marine safety. On the other side,absence of uniform standards of technologies and solutions may hamper the market.

Major market drivers & restraints:

Maritime safety awareness
Regulatory compliances and standards
Rising trade and freight transport activities by sea
Ungoverned marine regions
Absence of uniform standards of technologies and solutions
Transnational organized crime (TOC)

Market Segmentation: Global Maritime Safety Market

The global maritime safety market is segmented on the basis of technologies and systems into screening and scanning, access control, detectors, geographic information system, surveillance and tracking, weather monitoring, SCADA, communication, and others. The access control segment is further sub segmented into biometrics, and identification card. The detectors segment is further sub segmented into RFID tags, CARNE/HAZMAT detection, and laser range finder. The surveillance and tracking segment is further sub segmented into underwater surveillance, video surveillance, automatic identification system, long-range identification and tracking (LRIT), radar, optronics, and thermal imaging. The communication segment is further sub segmented into satellite-based, and radio-based. The others segment is further sub segmented into long range acoustic device, e-navigation, charts, network security, cyber security, and intruder alarms.

On the basis of services, the global maritime safety market is segmented into training, risk assessment and investigation, maintenance and support, consulting, and others. The others segment is further sub segmented into loss prevention, security management, counter piracy, kidnap, and response consultancy.

On the basis of categories, the global maritime safety market is segmented into port and critical infrastructure security, vessel security, and coastal surveillance.

On the basis of geography, the global maritime safety market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Maritime Safety Market

The report for maritime safety market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Maritime Safety Market

Some of the major players of the global maritime safety market are BAE Systems, Elbit Systems Ltd., Harris Corporation, Honeywell International Inc., Kongsberg Gruppen ASA, Northrop Grumman Corporation, Raytheon Anschütz, Saab AB, Leonardo – Società per azioni, SIGNALIS, GRUPO EULEN, ABS Group, Consilium AB Publ., Vane Brothers, SOLAS MARINE SERVICES GROUP,Safety Management Systems LLC, Siam Global Marine Safety Co., Ltd., and others.

Research Methodology: Global Maritime Safety Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Maritime Safety Market – Industry Trends and Forecast to 2024

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