Global Vessel Traffic Services Market anticipates growth by 2024

The Global Vessel Traffic Services (VTS) Market Growth 2019-2024 is a research report available at

A vessel traffic service (VTS) is a marine traffic monitoring system established by harbor or port authorities, similar to air traffic control for aircraft. Typical VTS systems use radar, closed-circuit television (CCTV), VHF radiotelephony and automatic identification system to keep track of vessel movements and provide navigational safety in a limited geographical area.

With emerging economies growing faster, a strategy has been adopted by most leading vendors in the vessel traffic services market to approach these areas. North America will account for the highest sales in 2023, but developing countries has the highest growth rate. Vendors recognize the importance of this region, particularly in China, Brazil and Southeast Asia, and are working towards penetrating this market by strengthening their sales and distribution networks.

According to this study, over the next five years the Vessel Traffic Services (VTS) market will register a 6.3% CAGR in terms of revenue, the global market size will reach US$ 360 million by 2024, from US$ 260 million in 2019. In particular, this report presents the global revenue market share of key companies in Vessel Traffic Services (VTS) business, shared in Chapter 3.

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The key manufacturers covered in this report:

  • Signalis
  • Indra Company
  • Saab
  • Kongsberg
  • Transas
  • Lockheed Martin
  • Keiki
  • Frequentis
  • Vissim AS
  • SRT

Segmentation by product type:

  • INS and NAS
  • TOS

Segmentation by application:

  • Port Service
  • Coastal Service
  • Other

This report also splits the market by region:

  • Americas
  • United States
  • Canada
  • Mexico
  • Brazil
  • APAC
  • China
  • Japan
  • …….

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Research objectives

  • To study and analyze the global Vessel Traffic Services (VTS) consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
  • To understand the structure of Vessel Traffic Services (VTS) market by identifying its various subsegments.
  • Focuses on the key global Vessel Traffic Services (VTS) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the Vessel Traffic Services (VTS) with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • To project the consumption of Vessel Traffic Services (VTS) submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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