San Francisco, California, July 04, 2017: A new research report by TMR Research states that the global market for maritime security has been displaying a remarkable rise in its valuation and is anticipated to continue doing so over the years to come. The market study, titled “Maritime Security Market – Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2017–2025,” provides a detailed and unbiased research on this market, taking its historical and current performance in consideration. The significant market trends, driving forces, obstructions, challenges, opportunities, and the growth potential of this market have also been evaluated to determine its future status in this research report.
As per the report, the increasing need for protection and safety against intentional destruction through subversion, sabotage, or terrorism to vessels, ports, and the facilities operating shipping business has fueled the need for maritime security services across the world. The rising adoption of advanced technologies in maritime security solutions to help identify potential dangers and communicate the issue to the concerned officers at the speed of light has increased their popularity across the world, which is reflecting greatly on the growth of this market.
Researchers anticipate the global market to remain rising at a significant growth rate over the forecast period, thanks to the increasing technological advancements in maritime security solutions. However, the unpredictable nature of the intercontinental sea trades and the recent economic dips may create obstacles to the market. Nonetheless, with established companies gearing to offer smart security solutions, the market will have considerable opportunities to gain from over the next few years, notes the study.
In terms of the geography, the global maritime security market is led by North America and is closely followed by Asia Pacific. Thanks to the rising prevalence of security breaches, the governments across the world are implementing stringent rules and policies to ensure an efficient maritime security. Considering the scenario, the market is projected to witness a significant rise in opportunities in China, Russia, Brazil, and India in the years to come, reports the study.
Some of the key vendors of maritime security solutions mentioned in the research report are Harris Corp., Northrop Grumman Corp., Bae Systems Inc., Elbit Systems Ltd., Kongsberg Gruppen, The Raytheon Co., Honeywell International Inc., Genetec, Hikvision Digital Technology, Thales Group, and Tyco International Ltd.