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Global Maritime Safety System Market: Exploring Size, Growth Rate, Drivers, and Trends
Maritime Safety System Market
Unfolding the projective market size of the global maritime safety system supported by growth drivers, key players and trends.
What Is The Projected Market Size Of The Global Maritime Safety System And Its Growth Rate?
Get detailed insights into the Maritime Safety System's market size and growth rate:
• The maritime safety system market size grew from $20.82 billion in 2024 to $22.04 billion in 2025, marking a compound annual growth rate (CAGR) of 5.9%.
• Key drivers for this growth include international maritime regulations, shipping expansion, maritime accidents, piracy concerns, and environmental protection.
• The forecast for the next few years shows steady growth, reaching $26.29 billion in 2029 with a CAGR of 4.5%.
• The growth attributes include investments in port infrastructure, the emergence of autonomous vessels, collaborations with coastal authorities, insurance requirements, and maritime security threats.
What Is Driving The Growth In The Maritime Safety System?
An increase in maritime trade and transportation is propelling the maritime safety system market. Benefits such as greater product volume per trip and lesser emissions on long voyages provide cost-effectiveness and environmental compatibility, bolstering the market's growth. As indicated by the United Nations Conference on Trade and Development (UNCTAD), the maritime trade volume is projected to rise by 2.4% in 2023. In 2024-2028, it is expected to grow by over 3% annually. Additionally, robust annual growth rates of 6% and 4.6% were observed for oil and gas trade volumes in 2022. Consequently, the rise in maritime trade and transportation is triggering the growth of the maritime safety system market.
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Who Are the Key Players Driving Maritime Safety System Growth?
Key market players include:
• Anschutz GmbH
• Honeywell International Inc.
• Elbit Systems Ltd.
• Saab AB
• OSI Maritime Systems Ltd.
• BAE Systems plc
• Thales Group
• Smiths Group plc
• Northrop Grumman Corporation
• Westminster Group Plc
• L3Harris Technologies Inc.
• Kongsberg Gruppen ASA
• Leonardo S.p.a.,
• Atlas Elektronik GmbH
• Airbus SE
• Terma Group AS
• Nuctech Company Ltd.
• ARES Security Corporation
• Rolta India Ltd.
• HALO Maritime Defense Systems Inc.
• Lockheed Martin Corporation
• General Dynamics Corporation
• Harris Corporation
• Safran S.A.
• FLIR Systems Inc.
• Garmin Ltd.
• Furuno Electric Co. Ltd.
• Japan Radio Co. Ltd.
• Wärtsilä Corporation
• Signalis SA
• SRT Marine Systems PLC
• Consilium Strategic Communications Ltd.
• MarineGuard Systems Ltd.
• Martek Marine Ltd.
• HENSOLDT UK
What Are The Key Trends In The Maritime Safety System?
Key trends fueling the market's growth are:
• Digitalization of maritime operations
• Integration of artificial intelligence
• Remote monitoring and telematics
• Digital twins for vessel safety
• Satellite-based communication
• Emergency response automation
What Are The Segments Of The Global Maritime Safety System?
The Maritime Safety System market segments are:
1) 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
2) By Application: Loss prevention and detection, Security management, Counter piracy, Coastal monitoring, Safety of ship, Pollution Prevention and Response (PPR) management
3) By End User: Government Institutions, Oil & Gas, Marine & construction, Shipping & Transportation, Cargos & containers, Other End-Users
Which Region Leads The Maritime Safety System?
Asia-Pacific led the maritime safety system market with the largest share in 2024 and is anticipated to be the fastest-growing region in the coming years. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Maritime Safety System Global Market Report?
- Market Size Analysis: Analyze the Maritime Safety System size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Maritime Safety System for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Maritime Safety System growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Maritime Safety System.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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