Maritime Security Market Size - By Type (Port & Critical Infrastructure, Coastal Surveillance, Vessel Security), By Technology (Screening & Scanning, Communications, Access Control, Surveillance & Monitoring System, Navigation), By Component & Forecast, 2024 - 2032

Maritime Security Market Size 

Maritime Security Market was valued at USD 25 billion in 2023 and is likely to register more than 6% CAGR between 2024 & 2032. Rising investments in maritime infrastructure play a crucial role in driving the maritime security market growth. As countries & businesses invest in expanding and modernizing their maritime facilities, the need for enhanced security measures becomes paramount. The Indian government received an investment of over USD 1.3 million under the Maritime Amritkaal Vision 2047 plan for the development of the maritime sector by 2047. Investments in maritime infrastructure often coincide with increased maritime activity including the expansion of ports, construction of new terminals, and development of offshore installations. This heightened activity attracts more vessels and, consequently, raises the demand for robust security solutions to safeguard these critical assets.
 

Maritime security involves safeguarding vessels, ports, and coastal areas from threats such as piracy, terrorism, and illegal activities. It encompasses measures, such as surveillance, cybersecurity & response protocols, to ensure the safety of maritime assets, the protection of marine environments, and the facilitation of secure international trade & navigation.
 

The deployment of advanced maritime security technologies, such as surveillance systems, cybersecurity solutions, and access control measures, can involve substantial upfront costs. This financial barrier may limit the adoption of sophisticated security measures, especially for smaller shipping companies and less economically developed regions.
 

COVID-19 Impact

The COVID-19 pandemic significantly impacted the maritime security industry. It disrupted the production and distribution of maritime security technologies. Manufacturers faced delays in the supply chain, affecting the availability of critical security equipment. This disruption also impacted the ability of maritime entities to deploy & maintain their security systems effectively. Moreover, lockdowns, travel restrictions, and economic uncertainties resulted in a decrease in shipping activities. Reduced vessel traffic and fewer port calls impacted the demand for certain maritime security services. With fewer ships in transit, the need for certain security measures such as anti-piracy operations may have diminished.
 

Maritime Security Market Trends

The maritime industry has become more digitalized, leading to an increased focus on cybersecurity. Protecting vessels, ports, and maritime infrastructure from cyber threats has become a top priority. Trends include the adoption of advanced cybersecurity solutions, regular cybersecurity assessments, and increased awareness of the potential risks.
 

The integration of AI & ML technologies is on the rise in maritime security. These technologies enhance threat detection, anomaly identification, and decision-making processes. Predictive analytics powered by AI & ML contribute to more proactive and effective security measures. Moreover, the capability to remotely monitor and surveil maritime assets is gaining prominence. Advanced sensor technologies, satellite surveillance, and real-time data analytics enable security personnel to monitor large maritime areas effectively and respond to incidents promptly.
 

Maritime Security Market Analysis

Based on technology, the market is segmented into screening & scanning, communications, access control, surveillance & monitoring system, and navigation. The surveillance & monitoring system segment dominated the market in 2023 with a market share of over 30%.
 

• The growth of maritime activities including shipping, trade, and offshore operations increases the complexity of security requirements. As the volume of maritime traffic rises, there is a corresponding need for more sophisticated surveillance systems to monitor larger areas and ensure comprehensive security coverage.
   
• The global maritime domain faces various security challenges including piracy, terrorism, smuggling, and unauthorized access to vessels & ports. Increasing security concerns drive the need for advanced surveillance & monitoring systems to detect and deter potential threats.

Based on component, the market is segmented into hardware, software, and services. The software segment is anticipated to register a CAGR of over 8% by 2032.
 

• Maritime incidents, such as security threats, accidents, or environmental hazards, require effective response and crisis management. Software solutions that facilitate incident response coordination, communication, and resource allocation are essential for mitigating the impact of security incidents.
   
• The trend toward remote operations in the maritime sector has increased the demand for software solutions that enable remote monitoring. Software-based systems provide real-time insights into vessel operations and security status, supporting remote decision-making.

North America dominated the global maritime security market with a share of over 35% in 2023. North America, particularly the U.S. and Canada, holds strategic geopolitical importance with extensive coastlines along the Atlantic & Pacific Oceans, the Gulf of Mexico, and the Arctic. Protecting these coastlines and maritime borders is crucial for national security, driving investments in advanced maritime security measures. The region is home to numerous major ports, terminals, and critical maritime infrastructure supporting international trade. Securing these assets against potential threats including terrorism, smuggling, and cyberattacks is a top priority, leading to the increased demand for maritime security solutions in the region.
 

Maritime Security Market Share

Players operating in the maritime security market focus on implementing different growth strategies to strengthen their offerings and expand their market reach. These strategies involve new product developments & launches, partnerships & collaborations, mergers & acquisitions, and customer retention. These players also heavily invest in research & development to introduce innovative and technologically advanced solutions in the market. Major players operating in the maritime security industry are:

• Thales Group
• Leonardo S.p.A
• Saab AB
• BAE Systems plc
• OSI Systems, Inc.
• Westminster Group plc
• Elbit Systems Ltd.
   

Maritime Security Industry News

• In October 2021, Thales partnered with CS GROUP, a specialist in smart cyberprotected mission-critical systems, to offer a high-performance, resilient and cybersecure navigation system. The system comprises Thales's TopAxyz inertial navigation unit, which has delivered outstanding performance in the especially rigorous conditions of civil aviation, clocking up over 20 million hours of operation.
   

This maritime security market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Type

• Port & Critical Infrastructure
• Coastal Surveillance
• Vessel Security
• Others

Market, By Technology

• Screening & Scanning
• Communication
  • Satellite Communication
  • Wireless Communication Networks 
• Access Control
• Surveillance & Monitoring System
  • Radar Systems
  • Automatic Identification System (AIS)
  • Others
• Navigation

Market, By Component

• Hardware
• Software
• Services
   

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Singapore
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA