Maritime Safety System Market by Offering (Solutions, Services), Security Type (Coastal Security, Crew Security), System (AIS, GMDSS, LRIT), Application (Monitoring & Tracking, Counter Piracy, Search & Rescue) End User & Region - Global Forecast to 2029
[345 Pages Report] The global market for the maritime safety system market is projected to grow from USD 30.2 billion in 2024 to USD 47.8 billion in 2029, at a CAGR of 9.6% during the forecast period. The maritime safety system market is driven by several factors including, rising need to manage complex supply chain operations and increase sustainability across the marine industry, rising need to create awareness about maritime safety, regulatory compliances and standards, increasing marine trade and freight transport activities.
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Market Dynamics
Driver: Rising need to manage complex supply chain operations and increase sustainability across marine industry
The marine industry must cope with dynamic market conditions and complex processes to operate. The industry is in the surge to implement digital technologies to shipping logistics as an opportunity to streamline operations, create smarter ships and fleets, and better prepare to capitalize on global growth. Global supply chains are rising and becoming more complex as consumer demand increases. The greater need for products, ingredients and raw materials directly transforms into increased environmental impact. In today’s highly competitive market, it’s imperative that marine industries implement new ways to streamline their supply chain management and optimize productivity. Maritime safety system solutions integrated with innovative technologies allows end-users to organize inventory data digitally, monitor and manage shipping and tracking information, and create electronic invoices with ease.
Restraint: Lack of uniform standards to implement security solutions across the marine industry
In the world, there are very few uniform standards for point-to-point control of security on containers, cargoes, vessels, or crews. The IMO is implementing universal and uniform standards and regulations for the security of the vessels, which travel through all the maritime zones under the jurisdiction of different nations, with the crew from different countries. IMO strives to develop policy guidance and coordination between different stakeholders in the maritime sector and different policy areas.
Opportunity: Advent of innovative technologies, such as RFID, GPS, AR, robotics, and Blockchain
In the coming years, smart and intelligent technologies will play a vital role in maritime safety, due to the increasing awareness about safety and security, changing regulations, advanced communication technologies (satellite and radio-based), and integration of technologies and solutions in the maritime domain. Smart container technology is used to track a container, with the use of information exchanged through satellite, Radio Frequency Identification (RFID), or Global Positioning System (GPS), such as communication technologies. Companies are noticing this opportunity and have started container tracking projects. The shipping industry is undergoing a technology revolution. Ports, ships, systems and processes, and allied services are all getting a technological facelift.
Challenge: Growing issues pertaining to piracy
The attacks on ships by pirates have been increasing over the past 15 years. Piracy attacks are less prevalent in the Gulf of Aden and the Indian Ocean than in other West African marine routes. However, these are longer routes and cost more fuel. The additional fuel cost must be borne by the customers. To prevent this, maritime safety must be strengthened in areas where there are major risks of piracy. Certain technologies and solutions can analyze piracy networks. This will assist the countries to identify and arrest individuals involved in maritime piracy.
Maritime Safety System Market Ecosystem
The maritime safety system market ecosystem comprises of solution providers, service providers, end users and regulatory bodies.
By End User, marine & construction segment accounts for the largest market size during the forecast period.
Accidents within marine and construction sectors encompass incidents occurring during construction activities conducted over or near water bodies. The inherent risk associated with working over water is a primary concern, particularly in regions with high construction and renovation activities, where accidents are more prevalent. Marine construction poses elevated risks due to proximity to water and limited access to immediate medical aid, exposing workers to hazardous conditions. These workers often operate under strenuous environments, such as working on platforms that continuously move with water currents, facing risks like fire, explosions, burns, electrical shocks, falling objects, heavy machinery accidents, and falls from heights. Marine & construction encompasses various activities, including oil rig constructions, dredging operations, dock works, underwater infrastructure projects, and many others, often resulting in severe injuries when accidents occur.
By application, monitoring & tracking segment is projected to grow at the highest CAGR during the forecast period.
Monitoring and tracking applications play a crucial role in the maritime safety system market by providing real-time surveillance and location data for vessels, enhancing safety, security, and operational efficiency at sea. Advanced technologies such as AIS (Automatic Identification System) and LRIT (Long-Range Identification and Tracking) enable continuous monitoring of vessel movements, ensuring compliance with regulations, and facilitating swift response to emergencies. For instance, AIS transponders onboard ships broadcast their identity, position, speed, and course information, which is received by coastal stations and satellites, allowing authorities to track and manage vessel traffic effectively. LRIT, on the other hand, provides long-range tracking capabilities for vessels, aiding in search and rescue operations and enhancing maritime domain awareness.
North America to account for the largest market size during the forecast period.
North America is projected to be the leading contributor to the maritime safety market. Maritime security encompasses the protection of vessels, ports, and maritime infrastructure from threats such as terrorism, disruptions, or duplicity. This region boasts numerous ports and a high volume of import and export activities, driving the demand for maritime solutions to enhance regional security. The extensive marine travel and freight activities in developed countries like the US and Canada generate significant revenues for maritime safety solution vendors. Shipping and transportation companies in North America are heavily invested in adopting advanced maritime solutions stemming from research and development and technological innovations within the sector. End-users in this region, such as marinas, yachts, boat dealerships, cargo shipping companies, and fishers, are increasingly adopting maritime safety solutions for their various benefits.
Key Market Players
The major maritime safety system solutions and service providers include Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain's Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India). These companies have used both organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to strengthen their position in the maritime safety system market.
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Report Metrics |
Details |
Market size available for years |
2019–2029 |
Base year considered |
2023 |
Forecast period |
2024–2029 |
Forecast units |
USD Billion |
Segments Covered |
Offering (Solutions & Services [Professional Services {Training & Consulting, Risk Assessment & Investigation, Support & Maintenance} and Managed Services]), Security type (Port & Critical infrastructure Security, Coastal Security, Vessel Security, Crew Security, Cargoes & Containers Safety, Ship System & Equipment (SSE) Safety, Other Security Types), System (Ship Security Reporting System, Automatic Identification System (AIS), Global Maritime Distress Safety System (GMDSS), Long Range Tracking & Identification (LRIT) System, Vessel Monitoring & Management System, Other Systems) Application (Loss Prevention & Detection, Security & Safety Management, Counter Piracy, Monitoring & Tracking, Environment Protection, Search & Rescue, Communication Management and Other Applications), End User (Government & Defense, Marine & Construction, Oil & Gas, Shipping & Transportation [Shipping Companies, Ship Crews Passengers & Cargo Owners] and Other End Users). |
Geographies covered |
North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Companies covered |
are Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain's Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India). |
This research report categorizes the maritime safety system market based on offering (Solutions & Services), security type, system, application, end user and region.
Offering:
- Solutions
-
Services
-
Professional Services
- Training & Consulting
- Risk Assessment & Investigation
- Support & Maintenance
- Managed Services
-
Professional Services
By Security Type:
- Port & Critical infrastructure Security
- Coastal Security
- Vessel Security
- Crew Security
- Cargoes and containers Safety
- Ship system and equipment (SSE) Safety
- Other Security Types
By System:
- Ship Security Reporting System
- Automatic Identification System (AIS)
- Global Maritime Distress Safety System (GMDSS)
- Long Range Tracking and Identification (LRIT) System
- Vessel Monitoring and Management System
- Other Systems
By Application:
- Loss prevention &detection
- Security & Safety Management
- Counter piracy
- Monitoring & Tracking
- Environment Protection
- Search & Rescue
- Communication Management
- Other Applications
By End User:
- Government & Defense
- Marine & Construction
- Oil & Gas
-
Shipping & Transportation
- Shipping Companies
- Ship Crews
- Passengers & Cargo Owners
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Recent Developments:
- In December 2023, Honeywell announced the acquisition of SCADAfence, a prominent provider of cybersecurity solutions for monitoring large-scale OT and IoT networks. SCADAfence's expertise lies in asset discovery, threat detection, and security governance, all vital for bolstering cybersecurity in industrial and building management programs.
- In October 2023, Smith’s Detection unveiled the HI-SCAN 7555 DV, a dual-view X-ray scanner featuring enhanced capabilities. This scanner offers superior image quality, automatic explosives detection, and a compact footprint, making it ideal for efficient screening in high-threat applications.
- In September 2023, OSI Maritime Systems (OSI) announced the finalization of a Long-Term Partnership Agreement (LTPA) with PGZ Stocznia Wojenna Shipyard (PGZ SW). Under this agreement, OSI will be PGZ SW's preferred partner for all new-build and retrofit WECDIS-based navigation systems in the Polish Navy.
- In August 2023, Anschütz enhanced the capabilities of its Electronic Chart Display and Information System (ECDIS) with customized functions to support safe and efficient operations for offshore and research vessels, as well as for blue and grey forces.
- In March 2023, The partnership between Anschütz and StormGeo, a prominent provider of weather intelligence and decision-support solutions in the shipping industry and part of Alfa Laval, signifies a move toward fully paperless ship governance.
- In January 2023, Anschütz launched the NautoPilot 5000NX, a new autopilot for ships featuring a 7-inch graphical touchscreen that clearly displays all navigational information. With intuitive operation, crews can access heading, course, and track control steering modes easily.
Frequently Asked Questions (FAQ):
What is Maritime Safety System?
A maritime safety system encompasses technologies, processes, and regulations designed to enhance the safety and security of maritime operations. It includes real-time monitoring, navigation aids, emergency response systems, and compliance with international safety standards to protect vessels, cargo, and human lives at sea.
Which region is expected to hold the highest share in the maritime safety system market?
North America is expected to hold the largest market share in maritime safety systems, driven by advanced technological adoption, stringent regulatory frameworks, and significant investments in maritime infrastructure and safety solutions.
Which are key end users adopting maritime safety system solutions and services?
Maritime safety system solutions and services are adopted by various end users such as government & defense, marine & construction, oil & gas, shipping & transportation (shipping companies, ship crews, passengers & cargo owners) and other end users (ports and terminals, maritime service providers and maritime authorities and regulatory bodies).
Which are the key drivers supporting the market growth for maritime safety system market?
The growth of the maritime safety system market is propelled by various drivers including the increasing demand to effectively manage intricate supply chain operations and promote sustainability within the marine sector, rising awareness regarding maritime safety, strict adherence to regulatory standards, and the surge in marine trade and freight transport activities.
Who are the key vendors in the market for maritime safety system market?
The key vendors in the global maritime safety system market include Honeywell (US), Thales Group (France), Smiths Group (UK), Elbit Systems (Israel), Northrop Grumman (US), Westminster Group (UK), Raytheon Anschutz (Germany), Saab Group (Sweden), OSI Maritime Systems (Canada), BAE Systems (UK), L3Harris Technologies (US), KONGSBERG (Norway), Leonardo (Italy), ATLAS ELEKTRONIK (Germany), Airbus (Netherlands), Terma Group (Denmark), Nuctech (China), ARES Security (US), Rolta (India), HALO Maritime Defense Systems ( US), HudsonAnalytix (US), Consilium ( Sweden), Maindeck (Norway), Captain's Eye (Israel), ioCurrents (US), Harbor Lab (Greece), Smart Ship Hub (Singapore), SailRouter (Netherlands), Orca AI (England), Anduril Industries (US), PierSight (India) and EyeROV (India). .
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The research study for the maritime safety system market involved extensive secondary sources, directories, and several journals, including the Journal of International Maritime Safety, Environmental Affairs, and Shipping, and the Journal of Marine Science and Engineering. Primary sources were mainly industry experts from the core and related industries, preferred maritime safety providers, third-party service providers, consulting service providers, end-users, and other commercial enterprises. In-depth interviews were conducted with various primary respondents, including key industry participants and subject matter experts, to obtain and verify critical qualitative and quantitative information, and assess the market’s prospects.
Secondary Research
The market size of companies offering maritime safety solutions and services was arrived at based on secondary data available through paid and unpaid sources. It was also arrived at by analysing the product portfolios of major companies and rating the companies based on their performance and quality.
In the secondary research process, various sources were referred to, for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendor websites. Additionally, maritime safety spending of various countries was extracted from the respective sources. Secondary research was mainly used to obtain key information related to the industry’s value chain and supply chain to identify key players based on solutions, services, market classification, and segmentation according to offerings of major players, industry trends related to solutions, services, security types, systems, applications, end users, and regions, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and maritime safety expertise; related key executives from maritime safety solution vendors, SIs, professional service providers, and industry associations; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from solutions and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped in understanding various trends related to technologies, applications, deployments, and regions. Demand-side stakeholders, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end-users using maritime safety solutions were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of maritime safety solutions and services, which would impact the overall maritime safety system market.
The following is the breakup of primary profiles:
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Market Size Estimation
Multiple approaches were adopted for estimating and forecasting the maritime safety system market. The first approach involves estimating the market size by summation of companies’ revenue generated through the sale of solutions and services.
Market Size Estimation Methodology-Top-down approach
In the top-down approach, an exhaustive list of all the vendors offering solutions and services in the maritime safety system market was prepared. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor's offerings were evaluated based on the breadth of solutions and services, systems, security types, application, and end user. The aggregate of all the companies’ revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets’ repository for validation.
Market Size Estimation Methodology-Bottom-up approach
In the bottom-up approach, the adoption rate of maritime safety solutions and services among different end-users in key countries with respect to their regions contributing the most to the market share was identified. For cross-validation, the adoption of maritime safety solutions and services among industries, along with different use cases with respect to their regions, was identified and extrapolated. Weightage was given to use cases identified in different regions for the market size calculation.
Based on the market numbers, the regional split was determined by primary and secondary sources. The procedure included the analysis of the maritime safety system market’s regional penetration. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socio-economic analysis of each country, strategic vendor analysis of major maritime safety providers, and organic and inorganic business development activities of regional and global players were estimated. With the data triangulation procedure and data validation through primaries, the exact values of the overall maritime safety system market size and segments’ size were determined and confirmed using the study.
Top-down and Bottom-up approaches
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Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
According to Anschutz, maritime safety solutions comprise the software that utilizes surveillance sensors to provide an early warning and identification of approaching contacts to offshore assets. It is a fully comprehensive safety, environmental, and security management system that exceeds safety and security standards. It also improves efficiency and reduces security and environmental risks and insurance premiums across the sea.
As per HudsonAnalytix, maritime safety services deliver several elements, such as planning, assessment, training programs, security consulting services. It ensures complete security supports to the clients.
Stakeholders
- Maritime safety vendors
- Maritime safety solution vendors
- Managed service providers
- Support and maintenance service providers
- System Integrators (SIs)/migration service providers
- Value-Added Resellers (VARs) and distributors
- Distributors and Value-added Resellers (VARs)
- System Integrators (SIs)
- Independent Software Vendors (ISV)
- Maritime security vendors
- Third-party providers
- Technology providers
Report Objectives
- To define, describe, and predict the maritime safety system market, by offering (solutions and services), security type, system, application, end user, and region.
- To describe and forecast the maritime safety system market, in terms of value,
- by region—North America, Europe, Asia Pacific, Middle East & Africa and Latin America
- To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall maritime safety system market.
- To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders.
- To analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the maritime safety system market
- To provide the illustrative segmentation, analysis, and projection of the main regional markets.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- The product matrix provides a detailed comparison of the product portfolio of each company.
Geographic Analysis as per Feasibility
- Further breakup of the North American maritime safety system Market
- Further breakup of the European maritime safety system Market
- Further breakup of the Asia Pacific maritime safety system Market
- Further breakup of the Middle East & Africa maritime safety system Market
- Further breakup of the Latin American maritime safety system Market
Company Information
- Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Maritime Safety System Market
Interested in Maritime Security market
Interested in Maritime Security market
Understanding the trends and segmentation of Maritime Market
Sonar Systems including Towed Arrays, both Fat Line and Thin Line, Intruder Detection Systems, Mine Avoidance
Understanding the maritime safety market
Interested in Maritime Security Industry