Maritime Security Market Size, Share & COVID-19 Impact Analysis, By Type (Product and Service), By Product (Radar systems, Automatic Identification System (AIS), Long range acoustic devices (LRAD), Antenna, Surveillance cameras, X-ray scanners, and Others), By Service (Training, Armed and Unarmed Guard Service, Emergency Response Service, Vessel Tracking And Monitoring Service), By Security Type (Port security, Vessel security, Coastal surveillance, Maritime Surveillance), By End User (Shipping Companies, Government, Port Authorities) and Regional Forecast, 2023-2030

The global maritime security market size was valued at USD 31.69 billion in 2022 and is projected to grow from USD 32.67 billion in 2023 to USD 43.87 billion by 2030, exhibiting a CAGR of 4.3% over the forecast period. Maritime security is an area of ​​expertise within the maritime industry, and security officers must apply best practices to protect their ships against internal and external threats. These threats come in many forms, each requiring a different strategy for a proper defence.

Areas where ships and maritime activities must be protected include terrorism, piracy, theft, illegal trafficking of people and goods, illegal fishing, and pollution. Through monitoring, inspection, and proactive procedures, the maritime industry does its best to minimize threats to marine security, whether malicious or accidental. As the industry evolves, enforcement and training must keep pace with technology and increased threat risks.

MARITIME SECURITY MARKET TRENDS

Drone Surveillance is a Key Trend Gaining Traction in the Maritime Security Market

Drone surveillance is rapidly emerging as a prominent trend within the market. It involves the utilization of UAVs to monitor and secure maritime areas, such as ports and coastlines. This technology enables real-time monitoring of vast and often challenging environments, providing enhanced situational awareness for detecting potential threats, unauthorized activities, and security breaches. Moreover, modern drones have advanced sensors and cameras that gather high-resolution images, videos, and data. This information can be analyzed using machine learning algorithms to identify threat patterns, security insights, and others.

Countries are increasing the use of UAVs and unmanned surface vehicles (USVs) to enhance their ability to patrol and control their coastal waters. Drones help monitor and record piracy, illegal fishing, and other activities with minimal human resources.  In October 2022, the Japanese Coast Guard commissioned an extremely sophisticated U.S.-made drone capable of circling the entire sea area of ​​the country amid rising tensions in the region. Japan Coast Guard is currently operating the drone from Hachinohe Air Station on the northeastern coast of Honshu.

In December 2022, the Indian Coast Guard signed the first contract for a domestic multi-rotor drone. The drone can be launched from patrol boats for day and night operations to enhance surveillance capabilities.

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DRIVING FACTORS

Rising Maritime Threats Globally to Drive the Market Growth

The global market is experiencing a significant rise in threats owing to various factors, such as piracy, armed robbery, terrorism, transnational crime, geopolitical tensions, cybersecurity risks, and refugee movements. Various global governments are anticipated to increase investments in this market.

• In 2021, the Indian Ministry of Defense announced the establishment of 42 new coastal radar stations to enhance coastal surveillance.


• Additionally, in December 2022, the government approved a major National Maritime Sector Awareness (NMDA) project to create an integrated intelligence network capable of detecting and responding to real-time maritime threats.

Furthermore, the number of detections of irregular crossings at the EU's external borders increased by 13% in the first seven months of 2023 to 176,100. This increase is entirely due to the number of people arriving via the central Mediterranean, which remains the main migration route to Europe. The number of irregular intersections on this route has more than doubled. Such instances drive the market of marine security across the globe.

Rising Digitalization of Maritime Operations to Boost the Marine Security Market Growth

The increasing adoption of digital technologies in maritime operations introduced cybersecurity risks and prompted the need for cybersecurity solutions to protect interconnected systems from cyber-attacks. Digitalization in the marine sector also refers to integrating advanced digital technologies and data-driven solutions into maritime operations. It allows real-time monitoring of vessels, ports, and maritime areas using automatic identification systems (AIS), radar systems, and satellite tracking. This enables authorities to track vessel movements, identify anomalies, and respond to security threats.

Digital platforms can also integrate data from multiple sources, such as sensors, cameras, and weather forecasts. Advanced analytics and AI algorithms analyze this data and detect patterns and security breaches. In May 2023, BlackSky Technology and Spire Global collaborated to create a commercially available, real-time marine tracking service capable of automatic detection and tracking of more than 270,000 vessels worldwide in open seas.

RESTRAINING FACTORS

Resource Limitations in Marine Security is a Major Restraining Factor Hampering Market Growth

Resource limitations in marine security challenge allocating necessary funds, personnel, and technology to implement effective security measures in maritime environments. Such limitations can significantly influence the ability to ensure the safety and security of maritime operations.

Many marine security initiatives require financial investment, including purchasing and maintaining advanced technologies, such as surveillance systems, communication equipment, and cybersecurity solutions. Building and maintaining secure port facilities, offshore installations, and coastal infrastructure can also be resource-intensive.

In November 2022, the Port of Kollam had robust infrastructure, including a 40ft container handling crane, a 5-ton Hydra-825 mobile crane, forklifts, scales, a vessel traffic monitoring system, and a warehouse. Despite the significant business potential, establishing an Immigration Checkpoint (ICP) has yet to be implemented.

MARITIME SECURITY MARKET SEGMENTATION

By Type Analysis 

Product Segment Dominates the Market Owing to Increased Technological Advancements 

By type, the market is bifurcated into products and services. The product segment is the dominating and fastest-growing segment during the forecast period. The segment's growth is due to increased technological advancement, terrorism, piracy, and others. As global trade and shipping activities expand, there is a greater need to protect vessels and ports.

The service segment is anticipated to witness significant growth during the forecast period. Advanced technologies have enabled the development of more sophisticated and effective security solutions and services, which drives the growth of this segment.

By Product Analysis 

Radar Systems Segment Dominates the Market Owing to the Need for Enhanced Vessel Tracking and Surveillance 

Based on product, the market is segmented into radar systems, Automatic Identification Systems (AIS), Long Range Acoustic Devices (LARD), security fencing, antennae, surveillance cameras, x-ray scanners, and others. The radar systems segment dominates the marine security market owing to the technological development in radar systems and integration with other security systems, making it a vital component in maritime security. Hence, the Radar segment is also anticipated to grow fastest during the forecast period.

The automatic identification system segment is anticipated to show significant growth owing to its ability to enhance vessel tracking, collision avoidance, and others. AIS technology provides real-time data about ship locations, courses, and speed, which are important for the authorities to monitor vessel movements, identify suspicious activities, and respond to potential threats.  

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By Service Analysis 

Armed and Unarmed Guard Service Segment Dominated the Market Owing to the Increased Need for Skilled Personal 

By service, the market is segmented into training, armed and unarmed guard service, emergency response service, vessel tracking and monitoring service, and others. The armed and unarmed guard service segment dominated the market in 2022. The segment is anticipated to rise owing to the need for competent personnel to ensure readiness during any incident. Similarly, such services protect the ship, crew members, and other personnel from incidents like piracy, smuggling, and illegal activities.

The emergency response service segment is projected to be the fastest-growing segment during the forecast period. The need to quickly address maritime incidents and ensure the safety of vessels, crew, and environment are prominent factors for segmental growth.  

By Security Type Analysis 

Maritime Surveillance Segment to Dominate the Market Owing to Rising Maritime Threats

By security type, the market is segmented into port security, vessel security, coastal surveillance, maritime surveillance, and others.  The maritime surveillance segment is anticipated to dominate the market and is projected to be the fastest-growing segment during the forecast period. Maritime surveillance is essential to safeguard the nation against various threats. Increased investments by naval forces globally propel this segment's growth.

Coastal surveillance is anticipated to show significant growth during the forecast period. The rise in the segment is due to the rising sea trade activities and an increased need to protect the coastline from illegal migration, smuggling, illegal fishing, and so on.

By End User Analysis 

Government Segment to Dominate the Market Due to Increase in Investment to Improve Marine Infrastructure 

By end user, the market is segmented into shipping companies, government, port authorities, and others. The government segment accounts for the largest market share in 2022 and is projected to be the fastest-growing segment. The need for enhanced marine security across ports, vessels, and other marine infrastructure has propelled the segment’s growth.

In July 2023, the government of Malaysia signed a maritime security MoU with the government of the U.K. The agreement is anticipated to strengthen the development of stricter security policies for shipping and apply strict security measures at international ports.

The port authorities segment is anticipated to show significant growth during the forecast period. The rise in segmental growth is due to increased focus on developing and improving port infrastructure. In August 2023, the Federal Emergency Management Agency (FEMA) announced funding allocations for the Port Security Grant Program (PSGP). It is allocated to 40 administration ports and many port operators and law enforcement agencies to improve and protect critical port infrastructure.

COVID-19 Impact

Rising Adoption of UAV Surveillance Activities During COVID-19 Pandemic Aided Market Growth

The COVID-19 outbreak had a significant impact on the shipping industry. The blockade order temporarily halted maritime activities, such as shipping, fishing, and oil and gas processing to prevent the spread of COVID-19. For example, the Coast Guard used Unmanned Aerial Vehicles (UAVs) to perform remote maritime surveillance operations for coastal surveillance. If any blockade violators are found, the Coastal Law Enforcement Team will take strict action against them for violating the regulations. As a result, the demand for maritime surveillance drones has increased to enhance coastal security and coast guard security.  In October 2020, the Japan Coast Guard tested a Sea Guardian drone amid tensions with China. Applications of it include maritime search, challenge, and surveillance operations.

REGIONAL INSIGHTS

In terms of geography, the market is divided into North America, Europe, Asia Pacific, and Rest of the World.

Asia Pacific held the largest market share in 2022. The region was valued at USD 17.87 Billion in 2022.  Certain areas within Asia Pacific, such as the “Strait of Malacca,” have been known for piracy and maritime crime. Thus, strengthening marine security helps protect vessels and crews from attacks and robberies. Furthermore, the governments of India, China, Japan, and others are investing extensively in procuring advanced maritime safety products and solutions.

Europe held the second-largest market share in the maritime security market in 2022. The increase in share is due to the increased unauthorized border crossing through coastal lines. According to the European Union report, in July 2023, 42,700 irregular border crossings were at EU borders through the Central Mediterranean.

The market in North America holds a significant market share in the base year. The growth is attributed to the significant rise in maritime activities due to its extensive coastlines, major ports, and active trade routes. This increased marine traffic requires enhanced security measures to protect vessels, ports, and marine infrastructure.

The rest of the World is anticipated to witness moderate market growth during the forecast period. The rise in trade activities in the Middle East & Africa regions is anticipated to boost the market growth. For instance, crucial checkpoints in the Middle East are the Strait of Hormuz and Bab-el-Mandeb, through which a significant amount of global oil and gas trade passes. Enhancing marine security is an important aspect of economic stability in the region.  

KEY INDUSTRY PLAYERS

Leading Players Focus on Technologically Advanced Security Equipment Development for Integrated Platforms to Aid Market Growth

The global market of maritime security is relatively fragmented with key players, such as Kongsberg (Norway), OSI Maritime Systems (Canada), Terma (Denmark), Elbit Systems Ltd. (Israel), and BAE systems Plc. (U.S.), and others. These players focus on developing advanced marine security equipment for vessel tracking, communication, and surveillance through partnerships and contracts with government and shipping companies. In August 2023, Elbit Systems Ltd. announced that it had been awarded a contract worth USD 55 million to deliver ReDrone Counter (C-UAS) multi-layer unmanned aerial vehicle systems in the Netherlands.

LIST OF KEY COMPANIES PROFILED:

• Kongsberg Group (Norway)


• OSI Maritime Systems (Canada)


• Terma (Denmark)


• Elbit Systems Ltd (Israel)


• BAE Systems Plc. (U.S.)


• General Dynamics Corporation (U.S.)


• Raytheon Technologies Corporation (U.S.)


• Thales Group (France)


• Leonardo SPA (Italy)


• Harbor Lab (Greece)

KEY INDUSTRY DEVELOPMENTS:

• August 2023- SRT Marine Systems has completed the first phase of the National Coast Guard Marine Surveillance Systems contract. The company announced that the SRT-MDA system is now fully operational and in daily use by customers. It uses "advanced Dynamic- Artificial Intelligence (Ai) technology" to automatically detect and alert the Coast Guard about illegal maritime activities, such as smuggling, illegal fishing, border incursions at sea, and potential threats to critical infrastructure, such as undersea pipelines.


• June 2023 – Elbit Systems will develop a marine target tracking device prototype under a contract from the Pacific Naval Information Warfare Center to support the Naval Information Warfare Research Project.


• May 2023 – The Pentagon has awarded Austal USA a contract to build the lead ship of what is envisioned as the first of seven next-generation ocean surveillance vessels in a USD 3 billion program.


• March 2023- Maritime surveillance provider TEKEVER has been awarded a three-year contract by the U.K. Home Office to provide surveillance services over the English Channel using its advanced AR5 and AR3 drones.


• February 2023 – India and Seychelles signed six agreements in key areas, including marine security. Under the MoU, the countries will work together and improve marine security in the Indian Ocean region. The security arrangements will be based on the SAGAR initiative - Security and Growth for All in the Region.

REPORT COVERAGE

An Infographic Representation of Maritime Security Market

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The market report provides a detailed market analysis. It comprises all major aspects, such as R&D capabilities, supply chain management, competitive landscape, and optimization of the capabilities and opportunities for Maritime Security. Moreover, the report offers insights into the market dynamics, analysis, and global maritime security market share and highlights key industry developments. In addition to the above-mentioned factors, it mainly focuses on several factors that have contributed to the growth of the global industry over recent years.

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