The Infinium Global Research analyzes the Maritime Security Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global maritime security market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of maritime security. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the maritime security market during the period. The global maritime security market is projected to grow at a CAGR of 7.27% over the forecast period of 2019-2025.
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Rise in the Number of Sea-Borne Threats is the Major Driving Factor for the Growth of the Maritime Security Market
The rise in the number of sea-borne threats is the major driving factor for the growth of the maritime security market. Moreover, the increase in global trade and traveling by seaways is anticipated to boost the growth of the maritime security market. However, a significant number of ungoverned marine regions are expected to hamper the growth of the maritime security market. Nevertheless, the development of integrated security solutions has posed lucrative business opportunities for the players in the market.
Fastest Growing Segments in the Maritime Security Industry
The Maritime Security market is segmented based on type, service, and category. The type of maritime security includes screening and scanning, surveillance and tracking, detectors, communication, weather monitoring, and other types. The surveillance and tracking segment among the type dominated the market owing to the increasing pirates, terrorists and other hostile attacks on ports and warships.
Based on the services the maritime security market is segmented into training, risk assessment and investigation, maintenance and support, consulting and other services. The risk assessment and investigation segment are expected to grow at the highest rate. The categories of maritime security are classified into port and critical infrastructure security, vessel security, and coastal surveillance. Vessel security is the leading segment among the categories owing to the greater susceptibility towards risk.
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North America Dominates the Maritime Security Market
Regionally, North America dominates the maritime security market, accounting for the highest market share among the regions. The growth of North America's maritime security market attributes to the long stretch of coastline, large number of ports and extensive marine travel and freight activities. Moreover, the presence of the leading manufacturers including Honeywell International Inc. and Harris Corporation in the region is anticipated to boost the growth of the Maritime Security market in North America.
Market Size of the Global Maritime Security Market
The maritime security market is highly competitive and consolidated in nature. Only a few numbers of market players hold a significant share of the market. The key players in the market including Saab AB, BAE Systems Plc, Thales Group, Honeywell International Inc., and Raytheon Anschütz GmbH, Northrop Grumman Corporation are focusing on developing innovative products and services that can accurately track and detect the movement in the ocean.
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Comprehensive analysis of global as well as regional markets of the Maritime Security.
Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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