The latest report on Maritime Security Market by Infinium Global Research gives complete coverage of the Maritime Security Market by Type (screening, scanning, surveillance tracking, detectors, communication), service (training, risk assessment, and investigation, maintenance, support, consulting) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Maritime Security such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Maritime Security Has Found Immense Importance in Border Protection And Watercraft Security
Globalization opened up new opportunities for the nations and companies to trade extensively. Today, international trade has become a common thing. With the increase of global trade, there is an increase in demand for security of national borders. Seaways had been an important mode of transport since ancient age. Maritime security has found immense importance in border protection and watercraft security.
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., 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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Security Solutions Have Posed Lucrative Business Opportunities for The Players in The Industry
The rise in the number of sea-borne threats is the major driving factor for the growth of the maritime security market. The growing number of pirates, terrorists and other hostile attacks on ports and ships have increased the concerns regarding safety and protection, which in turn augment the demand for maritime security. Moreover, the increase in global trade and traveling by seaways is anticipated to boost the growth of the maritime security market.
Furthermore, the regulatory standards & guidelines compliances for maritime trade has expanded the demand for maritime security. The regulatory norms for maritime trade imply to have maritime security equipment on board and on ports. 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.
In terms of region, 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, a 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.
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Reasons to Buy this Report:
Comprehensive analysis of global as well as regional markets of the Maritime Security.
Complete coverage of all the product types and application 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.