This report provides exclusive insights into the COVID-19 impact on the Maritime Security Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Maritime Security Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Maritime Security Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the maritime
security market provides an in-depth analysis of segments and sub-segments in the
global as well as regional maritime security market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional maritime security market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global maritime security market. According to the report, the global maritime
security market is projected to grow at a CAGR of 7.27% over the forecast
period of 2019-2025.
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.
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 the 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
The report on the global maritime security market covers segments such
as type, service, and category. On the basis of type, the sub-markets include
screening and scanning, surveillance and tracking, detectors, communication,
weather monitoring, and other types. On the basis of service, the sub-markets
include training, risk assessment and investigation, maintenance and support,
consulting, and other services. On the basis of category, the sub-markets
include port and critical infrastructure security, vessel security, and coastal
The report provides profiles of the companies in the market such
as Saab AB, BAE Systems Plc, Thales Group, Honeywell International Inc., Elbit
Systems Ltd., Sonardyne International Ltd., Raytheon Anschütz GmbH, Northrop
Grumman Corporation, Leonardo S.p.A., Harris Corporation, and other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of maritime security
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.