Maritime Security Market is Projected to USD 22.26 Billion by 2020

Date: 2015-11-24

The maritime domain is facing with the issues of piracy and terrorism since many years. The focus has largely been on the situation off Somalia, but West Africa and Southeast Asia have also been hotspots. However, maritime security is a broader theme that encompasses a range of threats to the safety of shipping. 

The maritime security market report covers profiles of key market players, such as BAE Systems PLC, Elbit Systems Ltd, Kongsberg Gruppen, Raytheon Anschutz GmbH, Harris Corporation, Northrop Grumman Corporation, and Honeywell International Inc. Global maritime security market research report analyzes global adoption trends, future growth potential, market dynamics, and best practices in this market. The report also analyzes market sizes and revenue forecasts across different regions.

The market has been segmented on the basis of technologies and systems, service, category, and region. The technology and systems segment includes screening and scanning, access control, detectors, geographic information system (GIS), surveillance and tracking, weather monitoring, supervisory control and data acquisition (SCADA), communication, and others. The service segment includes training, risk assessment and investigation, maintenance and support, consulting, and others. The category segment includes port and critical infrastructure security, vessel security, and coastal surveillance subsegments. The regional segment includes North America (NA), Europe (EU), Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America (LA). 

It forecasts the maritime security market to grow from USD 15.32 billion in 2015 to USD 22.26 billion by 2020. Over the next five years, this market is expected to experience high traction in Asia-Pacific (APAC), Latin America (LA), and the Middle East and Africa (MEA) regions.

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